Originally Posted by Marvin
What has Warren Buffet achieved? Investors sit on their lazy asses and make money from other people's achievements (the working class who have higher tax rates).
Warren Buffet has made more people rich then you or I while we sit on our lazy asses, is what he has achieved!
'make money from other people's achievements'... Man, where did you get your edukashun?! (</sarcasm>). I've never seen Buffet TAKE people's money as does Obama and the Federal Government! Buffet is willing to spread the wealth around if you are FREELY willing to take a risk with your investment. Obama wants to TAKE your money from your hard earned success and spread it around PERIOD! Show me where Buffet favored taking over a private company to save the Union's lazy ass pension fund, while demanding the firing of the CEO and screwing the bond holder investors? I can show you where Obama did it... GM!
For the love of Pete, WAKE-UP!
'(the working class who have higher tax rates)'... Sigh, it's like talking to a brick wall people...
"Critics of Bush's three tax relief plans charge that only the wealthy benefited from the reductions in marginal tax rates. But is this true? And more broadly, do the wealthiest Americans pay their "fair share" of the tax burden?
The evidence shows that all Americans, rich and poor, benefited from President Bush's tax cuts. The rich saw taxes on their dividends and capital gains reduced (as well as their income taxes), and personal income tax rates were slashed across the board, which encompassed every middle-class taxpayer. Even the poor, who generally do not pay income taxes, were rewarded with a higher Earned Income Tax Credit (EITC) and child tax credits.
Progressivity and the Tax Burden
Our tax system, however, is highly progressive, meaning that as one's income rises, a higher proportion of that income is taxed. Thus, those in the highest tax brackets contribute more to the overall tax burden even though there are far more people in lower tax brackets.1
According to data from the IRS, the bottom 50 percent of income earners pay approximately 4 percent of income taxes.
The top 25 percent of income earners pay nearly 83 percent of the income tax burden, and the top 10 percent pay 65 percent.
The top 1 percent of income earners pay almost 35 percent of all income taxes.
The top 400 richest Americans paid 1.58 of total income taxes in 2000.http://taxesandgrowth.ncpa.org/news/...eir-fair-share