Warren Buffett Gave His Tax Return To Charlie Rose Last Month

[Freeper]

cal04 Donating Member (1000+ posts)  Journal Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list    Thu Sep-22-11 04:48 PM
Original message
Warren Buffett Gave His Tax Return To Charlie Rose Last Month   Updated at 4:48 PM
   
http://tpmdc.talkingpointsmemo.com/2011/09/warren-buffe...


Attention Buffett Birthers on Capitol Hill: Warren Buffett has already made his 2010 tax return public.
http://tpmdc.talkingpointsmemo.com/2011/09/on-capitol-h...

Appearing on Charlie Rose last month, the billionaire investor brought his tax return along to prove his point about the Buffett Rule, which has become the centerpiece of President Obama's new plan to raise taxes on the super-rich.

A group of Republicans on Capitol Hill is calling on Buffett to release his tax return to the public, to prove whether or not he actually pays a lower percentage in tax than his secretary. Buffett made no secret of the numbers to Rose, and explained how the income breakdown works.

(snip)
BUFFETT: Well, taxes -- if you make money with money, you get taxed very -- at very low rates; 15 percent dividends in capital gains. No payroll tax. If you make money with muscle or hard work or sweat of your brow, you get taxed at rates that move on up. And most of the people, the middle-class gets taxed at rates of either 15 percent or 25 percent on their income tax, but then they get really hit hard on the payroll tax and that's what brings the rates in our office up to an average of 36 percent if you leave me out.

http://www.cnbc.com/id/44174056/TRANSCRIPT_%C2%A0_Warre...

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=439x1986900

Drale Donating Member (1000+ posts)  Journal Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list    Thu Sep-22-11 05:00 PM
Response to Original message
2. If Buffet really wanted to help,
   
he would choose say 100 or 1000 people at random and completely pay off all their bills, after all what is he doing with all that money?

Shhhhh, you must never question the wealth of democrats.

Lionessa (403 posts) Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list    Thu Sep-22-11 05:15 PM
Response to Reply #2
3. I disagree and here's why...
   
So long as people step up to offer charity, it re-enforces the idea that government doesn't need to step in because the goodness of bake sales and philanthropy will cure all ills.

Buffet is right to do all he can to change the rules so that a long term across the board correction for the wealthiest takes place.

So this DUmmy admits that we don't really need the govt to do all this.

Indydem (762 posts)  Journal Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list    Thu Sep-22-11 05:25 PM
Response to Original message
7. How about paying the estimated 1b in back taxes that he owes?
   
http://www.huffingtonpost.com/2011/08/29/warren-buffett...
   

Lousy freeper troll. 

[thundley4]

BUFFETT: Well, taxes -- if you make money with money, you get taxed very -- at very low rates; 15 percent dividends in capital gains. No payroll tax. If you make money with muscle or hard work or sweat of your brow, you get taxed at rates that move on up.

So, being smart with your money that you earned as income, which was already taxed, and investing it in something to make more means you should be taxed again on it.  BS.  There are so many levels of taxation already, that enough is enough. Let the government learn to get by on what it already gets, just like we have to do.

[zeitgeist]

So, being smart with your money that you earned as income, which was already taxed, and investing it in something to make more means you should be taxed again on it.  BS.  There are so many levels of taxation already, that enough is enough. Let the government learn to get by on what it already gets, just like we have to do.

Isn't the Oracle big in insurance.  And DUmmies love insurance.

Berkshire Hathaway Chairman Warren Buffett on Insurance Economics and 2004 Results
March 8, 2005
Insurance has been Berkshire’s core operating business since it purchased National Indemnity, a commercial auto and general liability insurer, in 1967. Insurance has supplied the “fountain of funds” Buffett uses to buy other businesses and securities. Among Berkshire’s other insurance holdings today are GEICO, a direct provider of auto insurance, and General Reinsurance.

[JohnnyReb]

Every time I hear Obama say (or anyone else) "Warren Buffet says Tax me more", the hair on the back of my neck stands up. There's something up with that. I don't know what it is but it's something. Obama going to issue an EO on his way out of office that lets Buffet off the hook for all back taxes or something. Maybe Obama and Buffet are going for a higher rate on some kind of earned income while reducing the tax on another kind that BUffet stands to profit more from and pay less tax on. I don't know what it is but something just don't smell right here.

[jukin]

So he gave his return but I didn't see anywhere that it was posted so we can look at the details.

Also, dividends are taxed at the same rate as ordinary income.

Also, also, Buffet has done everything to keep his taxes low according to the law. He could always write a check directly to the government to pay down the deficit but he does not. Nope he starts a foundation to make sure that the government does not get his hard work when he dies.

If Buffet were sincere he would get behind a wealth tax, not an income tax but you know he will never do that. You got to wonder what threats/bones in the closet 0bama has on him.

[thundley4]

If Buffet were sincere he would get behind a wealth tax, not an income tax but you know he will never do that. You got to wonder what threats/bones in the closet 0bama has on him.

That hits the target squarely on the head.  Most of the wealthy liberals that support higher income taxes already have their money and earn very little in income any more.

[Duke Nukum]

Drale Donating Member (1000+ posts)  Journal Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list    Thu Sep-22-11 05:00 PM
Response to Original message
2. If Buffet really wanted to help,
   
he would choose say 100 or 1000 people at random and completely pay off all their bills, after all what is he doing with all that money?

No DUmmie, if Buffet really wanted to help, he might start entrepreneur schools or give grants for small business start ups. Maybe he does, I don't really know, but that would be more helpful than raising taxes on everyone.

[GOBUCKS]

Drale Donating Member (1000+ posts)  Journal Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list    Thu Sep-22-11 05:00 PM
Response to Original message
2. If Buffet really wanted to help,
   
he would choose say 100 or 1000 people at random and completely pay off all their bills, after all what is he doing with all that money?

And give each of them a case of spray paint, right, Huffer Drale?

[Airwolf]

Warren Buffett hasn't done a thing to help anyone or anything in the City of Omaha so why do DUmmies think he's suddenly going to give anything to help the average person? Yeah he gives money to charities but not all of it gets to people.  Warren talks a good game but that's about all it is when he owes over 1billion in taxes

[franksolich]

Warren Buffett hasn't done a thing to help anyone or anything in the City of Omaha so why do DUmmies think he's suddenly going to give anything to help the average person? Yeah he gives money to charities but not all of it gets to people.  Warren talks a good game but that's about all it is when he owes over 1billion in taxes.

Right; we here on the ground near Warren know what he really is.

The outside world, away from Nebraska, isn't aware of our plaintive question, asked frequently here on Warren's home territory, if the guy thinks he pays too little in taxes, what's to keep him from writing another check to the U.S. Treasury?

That question seems really relevant among we Cornhuskers, but the other 99.5% of America doesn't even think about it, or think it's irrelevant.

[BlueStateSaint]

The outside world, away from Nebraska, isn't aware of our plaintive question, asked frequently here on Warren's home territory, if the guy thinks he pays too little in taxes, what's to keep him from writing another check to the U.S. Treasury?

I've been pondering that very question, Coach.

[franksolich]

I've been pondering that very question, Coach.

Well, the problem is, outside of the Nebraska news media, the question doesn't seem to get any traction anywhere else.

I think it's a good question, a great question--if Warren doesn't think he pays enough in taxes, what's stopping him from writing another check?

[dandi]

Lionessa (403 posts) Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list    Thu Sep-22-11 05:15 PM
Response to Reply #2
3. I disagree and here's why...
   
So long as people step up to offer charity, it re-enforces the idea that government doesn't need to step in because the goodness of bake sales and philanthropy will cure all ills.

Buffet is right to do all he can to change the rules so that a long term across the board correction for the wealthiest takes place.

This is the DUmmy mindset I've spoken about here before.  It means they would literally rather see the poor and disadvantaged continue to suffer than have it proven that government isn't the be-all-end-all of help for people. How ****ing sick is that? It tells you where their hearts really lie when it comes to helping others.

[BlueStateSaint]

Hey--did anyone notice the name of that primitive?

Lionessa

As in, "La Lioness Priyanka" (or however she spells it) . . . ?

[redwhit]

Hey--did anyone notice the name of that primitive?

As in, "La Lioness Priyanka" (or however she spells it) . . . ?

I wondered the same thing but don't think so because of the post count.