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 Billionaire Warren Buffett calls for more taxes on 'mega-rich'

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PostSubject: Billionaire Warren Buffett calls for more taxes on 'mega-rich'   Mon Aug 15, 2011 7:24 pm

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Billionaire Warren Buffett calls for more taxes on 'mega-rich'


Billionaire investor Warren Buffett is calling on the so-called mega-rich to pay more in taxes.

Buffett says in a New York Times opinion piece that he would immediately raise rates on households with taxable income of more than $1 million, and he would add an additional increase for those making $10 million or more.

He says he and his mega-rich friends have been coddled long enough by Congress, and says it is time for the government to get serious about shared sacrifice.

He says he has yet to see anyone shy away from investments due to potential capital gains taxes, even when capital gains rates were much higher in the mid-1970s.

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PostSubject: Re: Billionaire Warren Buffett calls for more taxes on 'mega-rich'   Tue Aug 16, 2011 3:20 pm

I heard this on the news yesterday on the way home. He was saying although he paid millions in income taxes, it wound up at 17.8%. I think Steve Winn or one of the other Vegas casino owners said the same thing yesterday although he said we should all be on the block, and that entitlements needed to be cut, like social security. I say up yours leave my social security alone, I cant see how it is an entitlement when I have been paying into it with my money since I've been working, It's bad enough that congress has been stealing from it forever.
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PostSubject: Re: Billionaire Warren Buffett calls for more taxes on 'mega-rich'   Wed Aug 17, 2011 5:33 am

I too do not agree with SS being classified as an entitlement when you have worked and paid in all your working life!! The entitlement classification applies (I believe) to someone that is receiving the benefits of SS and gov payouts when they have never paid anything in to the fund from which they are drawing money out of! JMHO!!

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Last edited by Alley_Oop Moderator on Wed Aug 17, 2011 3:30 pm; edited 1 time in total
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PostSubject: Re: Billionaire Warren Buffett calls for more taxes on 'mega-rich'   Wed Aug 17, 2011 3:13 pm

You know AO? I surely hope that this is the case and not SS recipients as a whole. That will PO many many people, and probably set the government on it's ear from a surge in voters.
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PostSubject: Re: Billionaire Warren Buffett calls for more taxes on 'mega-rich'   Wed Aug 17, 2011 3:31 pm

If it does not it certainly should!!! JMHO!!

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PostSubject: Re: Billionaire Warren Buffett calls for more taxes on 'mega-rich'   Wed Aug 17, 2011 3:45 pm

What ever, it should not even be talked about, there is other more important ways to save. Starting with their salarys.
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PostSubject: Re: Billionaire Warren Buffett calls for more taxes on 'mega-rich'   Wed Aug 17, 2011 3:51 pm

If we quit sending it out of the country and then had Congress take a pay cut, I bet the deficit would be cut to nothing!!!

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PostSubject: Re: Billionaire Warren Buffett calls for more taxes on 'mega-rich'   Wed Aug 17, 2011 4:12 pm

LMAO now you got it.
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