Obama demands tax rises for rich over fiscal cliff

Does anybody else find it hypocritical when someone who is a multi-billionaire like Warren Buffet claims to speak for people making 250k a year?

Originally posted by schuyler
The so-called "rich," the 1% pay double in income taxes compared to 1980

So, your saying the rich are even richer than what they use to be. Despite having far lower tax rates now than in 1980, they still pay double in total tax due to the huge increase in their incomes.

Originally posted by snusfanatic
Does anybody else find it hypocritical when someone who is a multi-billionaire like Warren Buffet claims to speak for people making 250k a year?

There are plenty of ways that the 250k small business that is actually small business can receive tax cuts without further helping Kim Kardashian, Paris Hilton and Bain Capital. All it takes is some bipartisan communication, so let us all hope both Obama and Boehner decide to put their big boy pants on to get it done.

When I heard GE paid ZERO tax back to the American People, after every darn household in country has at least 2 GE electronics or hardware or kitchenware in their homes...

It made me really mad actually.

reply to post by 0zzymand0s

Originally posted by 0zzymand0s
What was our tax structure like in 42, when the "greatest generation" were out "saving the world?"

What was it like in 62, when the rise of the middle class made America the worlds premiere economy?

In 72, when we were landing men on the moon?

In 92, when the commercial Internet was busting through its infancy and entering a very productive childhood?

I don't think there is any question that the US is capable of startling innovation and great things. Lets move our tax structure back towards that direction and find a point of equilibrium, cos' this ain't it.

That's pretty easy. All figures from... U.S. Federal Individual Income Tax Rates History, 1913-2011

I'll go with that $250,000 figure - adjusted for inflation..

1942 - 52%

1972 - 50%

1992 - 31%

2011- 33%

reply to post by MyHappyDogShiner

You don't get rich by paying your way,you get rich by finding ways not to.

This is among the smartest quotes I've heard all week!

Originally posted by snusfanatic
Does anybody else find it hypocritical when someone who is a multi-billionaire like Warren Buffet claims to speak for people making 250k a year?

I think he is speaking for his secretary who probably doesn't make that. I don't think Buffet is going to force the government to tax himself but he feels strongly his secretary should not pay a higher rate on her income taxes because she earned it typing than he does on his income because he earned it investing. And it makes sense. Wouldn't we all choose not to work but let our money work for us if we could? If we could all make our income that way we would and never see an industrial worker again but we need to get things done so doing nothing should not be rewarded with higher tax breaks. Not if you love your country and you don't want to wind up like Greece.

Originally posted by snusfanatic
Does anybody else find it hypocritical when someone who is a multi-billionaire like Warren Buffet claims to speak for people making 250k a year?

I think he is speaking for his secretary who probably doesn't make that and for billionaires making much more than that. I don't think Buffet is going to force the government to tax himself but he feels strongly his secretary should not pay a higher rate on her income taxes because she earned it typing than he does on his income because he earned it investing. And it makes sense. Wouldn't we all choose not to work but let our money work for us if we could? If we could all make our income that way we would and never see an industrial worker again but we need to get things done so doing nothing should not be rewarded with higher tax breaks. Not if you love your country. You need incentives to workers and not to billionaires. You'd WANT to build a secure, healthy, stable and able working class that accomplishes great things - otherwise you will wind up like Greece.

Originally posted by solidguy
Raise taxes on the rich?

Unlike government, rich people can actually control their spending. They can actually make cuts to offset the tax increases.

This will lead to slow growth (Obama even admitted this in his first term).

Will also lead to higher prices on consumer goods (higher taxes are always offset with higher prices).

Higher unemployment. Once again higher taxes lead to cutbacks to make up the difference. Instead of hiring 5-10 more people, why not cut payroll to make up the difference in the tax increase? (This is already happening)

End result? Less revenue to government.

You poor and middle class people making every penny count are in for a rude awakening when you get your first paycheck in 2013. Bush tax cuts are set to expire and it will hurt everyone.

How can you say that? Is there any proof? No. So why keep taxing us poor people? You see that that doesn't help. Let's give it a try-I bet you are scared it will work, and perhaps rich people may know what it is like to receive an Electrical Bill shut-off notice. I'm just sayin'

reply to post by newcovenant


You're going to have to explain again. If you think his secretary deserves to pay less, lower her taxes. But how can a Billionaire tell someone making 250k a year that they're making too much?

reply to post by samlf3rd


Other than sales tax (which can be limited by purchasing online), exactly what taxes are all of you "poor people" paying?

Remember, having money withheld, then fully refunded to you in April doesnt count as paying a tax.

Originally posted by snusfanatic
Does anybody else find it hypocritical when someone who is a multi-billionaire like Warren Buffet claims to speak for people making 250k a year?

Warren buffet has quite a large amount of back taxes. I feel that he might have a bit of a under the table agreement to cancel that debt for helping raise taxes. If he really wanted to pay more taxes he could just pay hid back taxes

Did anyone bother reading the article?

It said that Obama wants to raise taxes on the wealthy along with cuts to spending.

He probably wants them to go back to the levels they were under the Clinton administration.

Yeah that socialist hellhole that was America during the 90's.

Originally posted by snusfanatic
reply to post by newcovenant

 

You're going to have to explain again. If you think his secretary deserves to pay less, lower her taxes. But how can a Billionaire tell someone making 250k a year that they're making too much?

Where does he say they are "making too much?"

I think what he is saying is the income tax rate should be the same across the board.

Rich or poor there should be no difference in the percentage removed from pay or income regardless whether it be made from hourly earnings or dividends.

I think so too. I agree with Buffet and if I made over 250G's I would still agree. The right thing to do does not suddenly become wrong because a small group has decided to be greedy and watch the country go down the tubes in the process ...poor first.

Originally posted by phroziac

Originally posted by snusfanatic
Does anybody else find it hypocritical when someone who is a multi-billionaire like Warren Buffet claims to speak for people making 250k a year?

Warren buffet has quite a large amount of back taxes. I feel that he might have a bit of a under the table agreement to cancel that debt for helping raise taxes. If he really wanted to pay more taxes he could just pay hid back taxes

You really bringup a good point. All these wealthy liberals who espouse higher taxes,can just pay them. There doesn't need to be a "law: as such. They can just pay more.

But of course, reality steps in.

Originally posted by jimmyx
yeah...making over 20,000 dollars every month, it would be such a strain paying a few more hundred dollars a month in taxes....your life will be ruined.......my heart bleeds

my plan involves spending 7000 a month in fuel. And riding around on ten tires that cost 400 a piece and could go flat at any time.

Infact im talking about owning a $150000 truck.

Its not hardly making 20 grand a month when i spend half that back in fuel.

I will be lucky to make 6 grand a month. Trucks break down all the #ing time.

And if i get sick i get paid what? Who pays my medical? Yeah. Me.

Youre a moron.

reply to post by muse7


Nobody has to, because we all know that both sides are digging in the same as they did in 2011.

Seriously tough, I find nothing "balanced" about raising taxes along with cutting spending. Ooooh taking more in and putting less out, two sides of the same coin, so balanced haha. No.

The problem is that our government spends too much. It doesn't matter how much you give them.

Balanced would be straight spending cuts but in a bi-partisan responsible way, it's not spreading the pain equally between the citizens and the spendthrifts who like to put their name on things.

It's always wise to remember that its very easy for the "poor" to support taking more of others peoples money.

Mention taking anything of theirs and they will act like a donkey just kicked them in the crotch.

reply to post by newcovenant


Oh...so you're one of the people who would be willing to destroy value, even without extra revenue, as long as the pain appears to be spread more evenly. Sorry I'm not on board.

Originally posted by newcovenant

Originally posted by snusfanatic
reply to post by newcovenant

 

You're going to have to explain again. If you think his secretary deserves to pay less, lower her taxes. But how can a Billionaire tell someone making 250k a year that they're making too much?

Where does he say they are "making too much?"

I think what he is saying is the income tax rate should be the same across the board.

Rich or poor there should be no difference in the percentage removed from pay or income regardless whether it be made from hourly earnings or dividends.

I think so too. I agree with Buffet and if I made over 250G's I would still agree. The right thing to do does not suddenly become wrong because a small group has decided to be greedy and watch the country go down the tubes in the process ...poor first.

I agree. Anyone who makes more than 20 grand a year can pay ten percent on anything beyond thst I made 47k last year. Infact i paid 20% of what i made beyond the free 20k last year. Thats not really fair when romney pays less percent.

Right now the first uhm?13500 is free. Is that right? I think 20k is more fair. Hell if you have a family you cant hardly live off 50k the way these morons think you can.

But.....if someone makes a million and pays 10% and i make 50k and pay 10% we both paid a fair share

But if im going to be taxed into oblivion for owning a trucking company, thats bull. If i risk EVERYTHING and succeed....i deserve my wealth. Infact i am risking everything. And no one cares about me so if i fail ill be sleeping in an abandoned train tunnel or something.