Warren Buffet wrote an Op Ed this August 15. The points he made:
· It’s the poor and middle class who fight in Afghanistan (and he might have said Iraq as well).
· Most Americans are struggling to make ends meet.
· The “mega-rich” (his phrase, not mine) get extraordinary (again, his word) tax breaks.
· The mega-rich earn billions taxed at a bargain (again, his word) 15 percent tax rate (and this isn’t just for long term investors—it’s even on securities they’ve held for MINUTES).
· He pays ONLY 17.4 PERCENT OF HIS TAXABLE INCOME — A LOWER PERCENTAGE THAN PAID BY ANYONE IN HIS OFFICE!!!!
· HIS EMPLOYEES PAY FROM 33 PERCENT TO 41 PERCENT AND AVERAGE 36 PERCENT!!!
· The middle class typically pays MORE THAN 15 percent to 25 percent of their incomes. You may be in that tax bracket, but you’re hit with heavy payroll taxes (the mega-rich don’t pay a penny of this) to boot.
· Eighty-eight of the 400 Americans reporting the largest incomes in 2008 PAID NO TAXES AT ALL!
· The tax rate for this top 400 mega-rich fell from 29.2 percent in 1992 to 21.5 percent in 2008. Meanwhile their aggregate taxable income soared from $16.9 billion to $90.9 billion — a staggering (his word again) $227.4 million on average.
Mr. Buffett would leave rates for 99.7 percent of taxpayers unchanged and continue the current 2-percentage-point reduction in the employee contribution to the payroll tax, which helps the poor and the middle class, “who need every break they can get.” For those making more than $1 million he would raise rates IMMEDIATELY (his word, my emphasis). He would raise rates still higher for those who make $10 million or more.
My mantra, my chant, my obsession has been 250-500-1-5-10-50—a new tax bracket at each income level. No doubt Mr. Buffett’s idea is better. He knows more about money than I do, that’s for sure. But I’m sticking to my numbers for now. The monster national debt, run up while, BECAUSE, some—and I do mean some—of the mega rich turned TRAITOR will take a lot of money to pay off. People over $250k and $500k do pretty well also, so modest (maybe 1 percent at $250k and 2 percent at $500k) seem in order, too.
At any rate, my idea is to put less of a burden on people at $250k than the Dumocrats (no, that’s the way it’s spelled—more on that later) would.
Beside, my plan is to pay for a MIDDLE CLASS TAX CUT. A LOWER RATE FOR YOU AND ME. How about 15% for everybody under $250k? Congress seems to like that number. AND NO MORE—NOT A PENNY—IN PAYROLL TAX. ABOLISH THE PAYROLL TAX!!!
How about using the savings from the reduction to 15% to get the economy started again? To put WE THE PEOPLE back to work? To let The People BUY what they NEED to LIVE?
Mr. Buffett says, “My friends and I have been coddled long enough by a billionaire-friendly Congress. It’s time for our government to get serious about shared sacrifice.” He says that Congress seems to feel compelled to protect the mega-rich, “much as if we were spotted owls or some other endangered species.”
Bless you, Mr. Buffett.
Why this crazy, world turned upside-down, topsy-turvey, Alice in Wonderland world? The Lies that Nordquist tells you. He says unless the capital gains rate is 15%, people won’t invest. BULL!!! What does Mr. Buffett, maybe the greatest investor in history say?
“I have worked with investors for 60 years and I have yet to see anyone — not even when capital gains rates were 39.9 percent in 1976-77 — shy away from a sensible investment because of the tax rate on the potential gain. People invest to make money, and potential taxes have never scared them off.”
And to those who argue that higher rates hurt job creation, Mr. Buffett says
“A net of nearly 40 million jobs were added between 1980 and 2000. You know what’s happened since then: lower tax rates and far lower job creation.”
Mr. Buffett says there are fewer than 240,000 households over 1 million, fewer than 8,300 over 10 million. He says that most of the rich folks he knows (and naturally, he knows many of them well) are Patriots, like him. They “wouldn’t mind being told to pay more in taxes…particularly when so many of their fellow citizens are truly suffering.” So it’s LESS THAN less than of these 300,000 and 3,000, at least at the $1 and $10 million levels, who are traitors killing their country, killing WE THE PEOPLE who ARE this country.
Can’t we out-vote these people? Throw out the politicians they BRIBE. (Oh, their campaign contributions are legal UNDER THE LAWS THESE PUPPETS OF THE TRAITORS MADE? They’re still bribes).
Are we Americans? We’re not under the thumb of the Chinese Communist Party, the newly-beloved mass murderers with the blood of between 50 and 80 million on their hands. This same Chinese Communist Party for whom these under 300,000, these under 3,000 “job creators” actually created the jobs. This same Chinese Communist Party that they SOLD THIS COUNTRY TO. The Chinese Communist Party, America’s largest creditor, owning $1.1 trillion of this country, THIRTY-SIX PERCENT of our great country.
Don’t feel like voting? Leave. Go to China. I’d deport you there if I could.
Didn’t the Founding Fathers risk their lives to give us the right to vote? If they saw this, if George Washington, Thomas Jefferson, Ben Franklin, Alexander Hamilton, Thomas Paine saw this THEY’D BE SICK!
250-500-1-5-10-50!
Middle Class Tax Cut Now!
Vote or Leave!
