Buffet: Tax the mega-rich

[digimon7068]

You mean no federal taxes, obviously. They still pay a good portion of their income in payroll, sales, etc taxes.

yes..of course..but, we're talking about federal income tax rates, yes?? also, federal withholding is a payroll tax...most (if not all) of which, winds up getting refunded (many times in excess of the total federal tax) for the people in the middle and below...and by middle, i'm specifically referring to the mean/average/median (yes, i know those terms are not synonymous) household income in the u.s...not the hypothetical middle class.

 

[75th]

Middle = $500k?

 

[digimon7068]

Middle = $500k?

no...middle in the u.s. is total household income of $40,000 to $60,000.

 

[digimon7068]

no...middle in the u.s. is total household income of $40,000 to $60,000.

and, even today, this is the largest percentage of households...and these people generally pay little or no federal income tax under our current system...i'm not saying that they should (that's a much more complex issue)...i'm just giving you the facts.

 

[75th]

no...middle in the u.s. is total household income of $400,000 to $600,000.

Fixed.

Old bastard.

 

[75th]

and, even today, this is the largest percentage of households...and these people generally pay little or no federal income tax under our current system...i'm not saying that they should (that's a much more complex issue)...i'm just giving you the facts.

Bowles-Simpson tax plan ftw!

 

[digimon7068]

Fixed.

Old bastard.

haha...man, i WISH i could find myself in that strata!!

 

[mrplunkey]

Buffet's total compensation package was $519K in 2009.

He lives pretty good to only pull in ~$500K per year.

 

[digimon7068]

Buffet's total compensation package was $519K in 2009.

He lives pretty good to only pull in ~$500K per year.

he's got that whole day-tradin' thing figured out...he doesn't need any traditional compensation

 

[digimon7068]

he's got that whole day-tradin' thing figured out...he doesn't need any traditional compensation

come to think of it, i bought some ge stock at the same time he did and the shit went down another $5 a share and still hasn't come back...fucking fucker.