Forum Post: For all you Nay sayers: Buffett paid $6.9 million in taxes off $63M AIG in 2010 .. .That's about 10% isn't it?
Posted 13 years ago on Oct. 14, 2011, 9:44 a.m. EST by glenn1984
(57)
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I'm glad he made $63M ... he's happy to pay 10% in taxes (who wouldn't), but thinks it's unfair as middle class pays way more (% wise) .... and he doesn't use fancy loop holes that would allow him to pay less.
He says his taxes are 17% of taxable income (10% of his gross inc.) while his secretary's is 30% (of taxable inc.).
"Fairness for All"
Here is a short video on this: http://www.marketwatch.com/video/asset/warren-buffett-makes-his-tax-the-rich-case-2011-10-13/2DE38CC4-3CCB-4CCB-BD1F-E72D0FC27325#!2DE38CC4-3CCB-4CCB-BD1F-E72D0FC27325
And an article: http://www.marketwatch.com/story/buffett-offers-tax-info-but-no-return-for-now-2011-10-12
Sickening. He should pay at least $60m in taxes. That money can go to pay for college tuition, peoples houses, and food. That would still leave him with $3m which is more than enough to live on. I am disgusted.
Beep bop blorp. Herp derp hay look gais we're all commie pinkos here this is what OWS people actually believe I know so because the John Locke Foundation is paying me to say so!
I think $60M is too stringent ... not that he needs it, but because it's unfair the other way ... if secretary pays 30% so should the 1%.
Capital Gains 15% tax is a joke if the income tax (tax paid by most working people) is 10,15,25,28,33,35% depending where you land.
Unfair? How is it fair that he gets millions of dollars but I can't even find a job with my art degree and am in $80,000+ debt. Ideally there should be an income cap at $250k. No one needs more than that and you can live very comfortably.
I hear you ... but unless we go to socialism supply and demand will always dictate what we can do and how much we get paid. In Socialism they would limit # of spots in the arts program they expect the need for.
Either way is not perfect. The truth is somewhere in between.
He should pay his secretary more.