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Subject: What are you talking about..the poor pay zero income taxes | |
Author: Oropan |
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Date Posted: 05:22:49 11/04/07 Sun In reply to: Bev 's message, "Oro you always talk about the poor paying so much in taxes . Buffet does not agree with ou" on 18:24:35 11/01/07 Thu In fact the lowest 40% of workers pay ZERO income tax. The top 1% of earners pay around 30% of all income taxes paid. There is something dead wrong when only a small percentage of earners are paying almost all the income taxes and a large percentage are paying little of nothing. Maybe we should have Buffet pay ALL the income tax for all of us and then the rest of us could skate free. > He thinks he should pay more along with people like >Bill Gates dad and Kerry etc. plus we went into a >recession when bush cut taxes we are still in one . > >I should pay more tax, says US billionaire Warren >Buffett > >By Andrew Clark in New York > >11/01/07 "The Guardian" -- -- Warren Buffett, the >famous investor known as the "Sage of Omaha", has >complained that he pays a lower rate of tax than any >of his staff - including his receptionist. Mr Buffett, >who is worth an estimated $52bn (£25bn), said: "The >taxation system has tilted towards the rich and away >from the middle class in the last 10 years. It's >dramatic; I don't think it's appreciated and I think >it should be addressed." > >During an interview with NBC television, Mr Buffett >brandished an informal survey of 15 of his 18 office >staff at his Berkshire Hathaway empire. The >billionaire said he was paying 17.7% payroll and >income tax, compared with an average in the office of >32.9%. >"There wasn't anyone in the office, from the >receptionist up, who paid as low a tax rate and I have >no tax planning; I don't have an accountant or use tax >shelters. I just follow what the US Congress tells me >to do," he said. > >Mr Buffett also took a pot shot at hedge fund >managers. He said: "Hedge fund operators have spent a >record amount lobbying in the last few months - they >give money to the political campaigns. Who represents >the cleaning lady?" > >His intervention comes amid an increasingly rancorous >debate on Capitol Hill about tax. Shortly after taking >office, President Bush pushed through $2 trillion in >temporary tax cuts, including sharp reductions for >high-earners. These expire at the end of 2010 and the >White House wants to renew them. > >A leading Democrat, the Harlem congressman Charlie >Rangel, published alternative plans this week that >would impose a 4% surcharge on people earning more >than $200,000 a year, while delivering tax relief to >90 million working families. > >Republicans say the net effect would be a $2 trillion >tax increase that would hurt small businesses and >farmers. Meanwhile, Mr Buffett's remarks drew a robust >response from the US Chamber of Commerce, which said >the top 1% of US earners accounted for 39% of tax >revenue - and the highest earning 25% of the >population delivered 86% of the tax-take. > >The chamber's chief economist, Martin Regalia, said: >"Mr Buffett has made an awful lot of money and if he >wants to pay more taxes, I think that's fine. But I >think he should get his facts straight." > >He added: "There's no question in my mind: if you were >to impose [the Democrats'] tax increases, you would >see the US go into a recession." > >© Guardian News and Media Limited 2007 [ Next Thread | Previous Thread | Next Message | Previous Message ] |