Atlanta protest thing

[Laxguy59]

The Atlanta group lost any support I might have had for the original premise of the effort when their list of demands to Kasim Reed included changing the name of Woodruff park to Troy Davis park, according to the AJC.

Nice to see you coming around.

 

[Laufen]

Warren Buffet paid 17% of his income in taxes last year. What percentage did you pay?

 

[oldmetlfan]

The only difference between him and any other tax payer, is the ability to hire a top notch accountant and tax preparer

 

[Laufen]

^um wrong, the difference is huge tax breaks for the ultra wealthy. That is how a top notch accountant can secure a 17% rate of taxation for a BILLIONAIRE. I'd bet most people on this forum paid a greater percentage in taxes than Buffet did. Buffet is on record saying that he wants to pay more taxes.

 

[portamento]

Warren Buffet paid 17% of his income in taxes last year. What percentage did you pay?

My effective rate was 25%. Warren Buffet's was 11% (of AGI). That's not because of top notch lawyers and accountants as much as how where his income comes from. His doesn't have income from wages like the average Joe to whom you are wanting to compare rates. Warren Buffet's income is from capital gains which has a maximum tax rate of 15% compared to the maximum tax rate of wages, 35%.

So, you have the same opportunity to reduce your tax rate as Warren without expensive lawyers or tax accountants. Put your $$$ on the line, buy the right stock, and you too can pay only 15% or less of your gain. Oh yeah, you can also lose your a$$.

 

[Laufen]

Right and a 15% minimum on capital gains is crazy. The 17% was from his taxable income. A large percentage was non-tax.

 

[sparked1]

$1,000,000,000.00 x 17% = $170,000,000

$50,000.00 x 35% = $17,500

Fair enough?

 

[Laufen]

^Hardly

 

[sparked1]

If it makes you feel any better, if Warren Buffet was earning $50k/year, he would pay the same as everyone else.

 

[Outlander]

End of the day we should all be paying our fair share.........including the half that pay no income taxes at all. The funny thing about Buffet is that back taxes in excess of a billion are still owed and pro Obama corporations such as Google, Apple, and GE have shifted assets offshore to pay little or no taxes at all. Nothing wrong with making money but damn pay your taxes!!!!!