August 15, 2011
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Warren Buffet Complains He Doesn’t Pay Enough Taxes, Refuses to Send in More than Required
If Warren Buffet is so rich and is guilty that he doesn’t pay enough taxes, why doesn’t he write a check to the Federal government and give more than his tax bill?
Furthermore, why does he have to rub the fact that he’s rich and the rest of us aren’t in our faces? There was once a time when braggadocios behavior was considered impolite.
OUR leaders have asked for “shared sacrifice.” But when they did the asking, they spared me. I checked with my mega-rich friends to learn what pain they were expecting. They, too, were left untouched.
Comments (5)
I took the article as more of an observation of the current system, a critique of how lower taxes don’t necessarily mean more jobs and the discrepancy between the legislated tax burden for him and his ilk compared to office staff – and it’s a critique of the payroll tax system.
It’s his way of calling for significant tax code reform, which I think everyone agrees upon, but why should that mean he sends in more than he should? It would only be refunded back to him at some point during the process anyway.
His points are all valid and are worth consideration rather than a blaise “stop complaining; just pay more” response that completely misses the points he’s trying to make – and has been making for years now.
@cmdr_keen - why should that mean he sends in more than he should?
Because that’s exactly what he’s complaining about: NOT paying enough tax. So if he feels like he’s cheating, let him send in more. Why do we need the government to legalize theft to make it “ok” for Buffett to pay more taxes?
It would only be refunded back to him at some point during the process anyway.
Not if we had a line item on the tax form that allowed people to donate to the US Treasury.
His points are all valid and are worth consideration
I agree. He should should put up or shut up as Pat Buchannan exhorted him to.
response that completely misses the points he’s trying to make – and has been making for years now.
His point is that the rich should pay more, that he is rich and that he should pay more. So where’s the check?
@ProfessorTom -
response that completely misses the points he’s trying to make – and has been making for years now.
His point is that the rich should pay more, that he is rich and that he should pay more. So where’s the check?
Along with the fact that the rich get a disproportional amount of tax breaks compared to those who don’t earn as much or are lucky enough to have been born into wealth – which most of the mega-rich are. You can’t say the Hilton sisters, as one example, “earned” the mega millions they flash every time they go out. As a percentage of total income, it’s people like you and I who lose far more than those – like Buffet – have to which is inherently unfair. In a Republic that prides itself on equality and everyone have the same/equal opportunity, this situation seems like a misnomer and highly hypocritical and contradictory. This is not to say that I’m advocating a stricter form of socialism, since the system we’re already in is socialist in nature, only that proportionally the tax burden should be divided more fairly along the lines of those capable of contributing more.
@cmdr_keen - This is why I support the Fair Tax. It is a truly optional tax that you decide how often you want to pay taxes. Those who purchase more pay more, ergo, the rich would wind up paying more taxes as they would be spending more money.
@ProfessorTom - @cmdr_keen - Anyone, at any time can make an additional payment or donation to the treasury simply by filling out a check payable to the US Treasury and mailing it in. Buffet is also full of it, because it takes actual work and effort to claim all deductions and credits. He could simply grab a 1040, input his income and leave it at that. But he doesn’t. He goes through estraordinary efforts to make sure he gets every single deduction and tax credit.
The rich do not get disproportionate tax breaks. 40% of Americans pay no income tax. Many get back more than they paid in.
My only problem is, with the Fair Tax, the rate would have to be pretty high because of the out-of-control spending going on. I ran the numbers once when doing research to see if it was something I could support, I may have goofed, but came up with a nearly 100% tax to equal the same amount collected currently in income tax. That or it may have been that high to balance the budget, I honestly can’t remember. But, I support the Fair Tax if they control spending.