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August 29, 2008 at 10:05 PM in reply to: Didnt anyone watch Michelle Obama? Did anyone care? #263667
CA renter
ParticipantWarren Buffett is often referring to capital gains tax and the 15% cap on dividends and LT gains. He’s said it should be taxed at the same rate as earned income.
Also, advocating for a progressive tax is NOT advocating for 100% taxation on wages.
The question is whether or not concentrating wealth in fewer hands is a good thing for a society. Show me ONE country that has low/no taxes and is prosperous. I can show you many countries that have high tax rates and have the best healhtcare, life expectancies, literacy rates, lowest poverty rates, etc.
——————-Life expectancies (if you’re trying to find the U.S., look next to #47):
https://www.cia.gov/library/publications/the-world-factbook/rankorder/2102rank.html
Literacy rates:
http://www.indexmundi.com/g/r.aspx?t=10&v=39
Poverty rates (interesting, as it looks like mixed results):
http://www.nationmaster.com/graph/eco_pop_bel_pov_lin-economy-population-below-poverty-line
Current account balances (guess who’s worst!!!):
https://www.cia.gov/library/publications/the-world-factbook/rankorder/2187rank.html
Quality of living survey (looks like “higher taxes” win here, too):
CA renter
ParticipantWarren Buffett is often referring to capital gains tax and the 15% cap on dividends and LT gains. He’s said it should be taxed at the same rate as earned income.
Also, advocating for a progressive tax is NOT advocating for 100% taxation on wages.
The question is whether or not concentrating wealth in fewer hands is a good thing for a society. Show me ONE country that has low/no taxes and is prosperous. I can show you many countries that have high tax rates and have the best healhtcare, life expectancies, literacy rates, lowest poverty rates, etc.
——————-Life expectancies (if you’re trying to find the U.S., look next to #47):
https://www.cia.gov/library/publications/the-world-factbook/rankorder/2102rank.html
Literacy rates:
http://www.indexmundi.com/g/r.aspx?t=10&v=39
Poverty rates (interesting, as it looks like mixed results):
http://www.nationmaster.com/graph/eco_pop_bel_pov_lin-economy-population-below-poverty-line
Current account balances (guess who’s worst!!!):
https://www.cia.gov/library/publications/the-world-factbook/rankorder/2187rank.html
Quality of living survey (looks like “higher taxes” win here, too):
CA renter
ParticipantWarren Buffett is often referring to capital gains tax and the 15% cap on dividends and LT gains. He’s said it should be taxed at the same rate as earned income.
Also, advocating for a progressive tax is NOT advocating for 100% taxation on wages.
The question is whether or not concentrating wealth in fewer hands is a good thing for a society. Show me ONE country that has low/no taxes and is prosperous. I can show you many countries that have high tax rates and have the best healhtcare, life expectancies, literacy rates, lowest poverty rates, etc.
——————-Life expectancies (if you’re trying to find the U.S., look next to #47):
https://www.cia.gov/library/publications/the-world-factbook/rankorder/2102rank.html
Literacy rates:
http://www.indexmundi.com/g/r.aspx?t=10&v=39
Poverty rates (interesting, as it looks like mixed results):
http://www.nationmaster.com/graph/eco_pop_bel_pov_lin-economy-population-below-poverty-line
Current account balances (guess who’s worst!!!):
https://www.cia.gov/library/publications/the-world-factbook/rankorder/2187rank.html
Quality of living survey (looks like “higher taxes” win here, too):
CA renter
ParticipantWarren Buffett is often referring to capital gains tax and the 15% cap on dividends and LT gains. He’s said it should be taxed at the same rate as earned income.
Also, advocating for a progressive tax is NOT advocating for 100% taxation on wages.
The question is whether or not concentrating wealth in fewer hands is a good thing for a society. Show me ONE country that has low/no taxes and is prosperous. I can show you many countries that have high tax rates and have the best healhtcare, life expectancies, literacy rates, lowest poverty rates, etc.
——————-Life expectancies (if you’re trying to find the U.S., look next to #47):
https://www.cia.gov/library/publications/the-world-factbook/rankorder/2102rank.html
Literacy rates:
http://www.indexmundi.com/g/r.aspx?t=10&v=39
Poverty rates (interesting, as it looks like mixed results):
http://www.nationmaster.com/graph/eco_pop_bel_pov_lin-economy-population-below-poverty-line
Current account balances (guess who’s worst!!!):
https://www.cia.gov/library/publications/the-world-factbook/rankorder/2187rank.html
Quality of living survey (looks like “higher taxes” win here, too):
CA renter
ParticipantWarren Buffett is often referring to capital gains tax and the 15% cap on dividends and LT gains. He’s said it should be taxed at the same rate as earned income.
Also, advocating for a progressive tax is NOT advocating for 100% taxation on wages.
The question is whether or not concentrating wealth in fewer hands is a good thing for a society. Show me ONE country that has low/no taxes and is prosperous. I can show you many countries that have high tax rates and have the best healhtcare, life expectancies, literacy rates, lowest poverty rates, etc.
——————-Life expectancies (if you’re trying to find the U.S., look next to #47):
https://www.cia.gov/library/publications/the-world-factbook/rankorder/2102rank.html
Literacy rates:
http://www.indexmundi.com/g/r.aspx?t=10&v=39
Poverty rates (interesting, as it looks like mixed results):
http://www.nationmaster.com/graph/eco_pop_bel_pov_lin-economy-population-below-poverty-line
Current account balances (guess who’s worst!!!):
https://www.cia.gov/library/publications/the-world-factbook/rankorder/2187rank.html
Quality of living survey (looks like “higher taxes” win here, too):
CA renter
ParticipantJust to clarify, I define “rich” as those whose income is derived primarily from capital gains.
There is no reason, whatsoever, to tax cap gains at a lower rate than labor. This tax scheme was designed specifically to increase the rate at which more money could be funneled into the pockets of “the rich.”
That being said, I would lower corporate taxes (and have strict requirements on how they use that money — only for expanding business and hiring more people, NOT for executive compensation).
BTW, I do not believe in sales tax, property tax, or inheritance tax.
CA renter
ParticipantJust to clarify, I define “rich” as those whose income is derived primarily from capital gains.
There is no reason, whatsoever, to tax cap gains at a lower rate than labor. This tax scheme was designed specifically to increase the rate at which more money could be funneled into the pockets of “the rich.”
That being said, I would lower corporate taxes (and have strict requirements on how they use that money — only for expanding business and hiring more people, NOT for executive compensation).
BTW, I do not believe in sales tax, property tax, or inheritance tax.
CA renter
ParticipantJust to clarify, I define “rich” as those whose income is derived primarily from capital gains.
There is no reason, whatsoever, to tax cap gains at a lower rate than labor. This tax scheme was designed specifically to increase the rate at which more money could be funneled into the pockets of “the rich.”
That being said, I would lower corporate taxes (and have strict requirements on how they use that money — only for expanding business and hiring more people, NOT for executive compensation).
BTW, I do not believe in sales tax, property tax, or inheritance tax.
CA renter
ParticipantJust to clarify, I define “rich” as those whose income is derived primarily from capital gains.
There is no reason, whatsoever, to tax cap gains at a lower rate than labor. This tax scheme was designed specifically to increase the rate at which more money could be funneled into the pockets of “the rich.”
That being said, I would lower corporate taxes (and have strict requirements on how they use that money — only for expanding business and hiring more people, NOT for executive compensation).
BTW, I do not believe in sales tax, property tax, or inheritance tax.
CA renter
ParticipantJust to clarify, I define “rich” as those whose income is derived primarily from capital gains.
There is no reason, whatsoever, to tax cap gains at a lower rate than labor. This tax scheme was designed specifically to increase the rate at which more money could be funneled into the pockets of “the rich.”
That being said, I would lower corporate taxes (and have strict requirements on how they use that money — only for expanding business and hiring more people, NOT for executive compensation).
BTW, I do not believe in sales tax, property tax, or inheritance tax.
CA renter
ParticipantWarren Buffett also thinks the rich need to pay higher taxes:
Speaking at a $4,600-a-seat fundraiser in New York for
Senator Hillary Clinton, Mr Buffett, who is worth an estimated $52 billion (£26 billion), said: “The 400 of us [here] pay a lower part of our income in taxes than our receptionists do, or our cleaning ladies, for that matter. If you’re in the luckiest 1 per cent of humanity, you owe it to the rest of humanity to think about the other 99 per cent.”http://www.timesonline.co.uk/tol/money/tax/article1996735.ece
CA renter
ParticipantWarren Buffett also thinks the rich need to pay higher taxes:
Speaking at a $4,600-a-seat fundraiser in New York for
Senator Hillary Clinton, Mr Buffett, who is worth an estimated $52 billion (£26 billion), said: “The 400 of us [here] pay a lower part of our income in taxes than our receptionists do, or our cleaning ladies, for that matter. If you’re in the luckiest 1 per cent of humanity, you owe it to the rest of humanity to think about the other 99 per cent.”http://www.timesonline.co.uk/tol/money/tax/article1996735.ece
CA renter
ParticipantWarren Buffett also thinks the rich need to pay higher taxes:
Speaking at a $4,600-a-seat fundraiser in New York for
Senator Hillary Clinton, Mr Buffett, who is worth an estimated $52 billion (£26 billion), said: “The 400 of us [here] pay a lower part of our income in taxes than our receptionists do, or our cleaning ladies, for that matter. If you’re in the luckiest 1 per cent of humanity, you owe it to the rest of humanity to think about the other 99 per cent.”http://www.timesonline.co.uk/tol/money/tax/article1996735.ece
CA renter
ParticipantWarren Buffett also thinks the rich need to pay higher taxes:
Speaking at a $4,600-a-seat fundraiser in New York for
Senator Hillary Clinton, Mr Buffett, who is worth an estimated $52 billion (£26 billion), said: “The 400 of us [here] pay a lower part of our income in taxes than our receptionists do, or our cleaning ladies, for that matter. If you’re in the luckiest 1 per cent of humanity, you owe it to the rest of humanity to think about the other 99 per cent.”http://www.timesonline.co.uk/tol/money/tax/article1996735.ece
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