“Pretty Controversial”
“It’s a brave campaign, but he can afford to launch it.”
- Brokaw and Williams talking about Warren Buffets efforts to ensure that his middle-class employees pay less (or the same) tax that he the obscenely wealthy do. What in the heck is “controversial” about it? Only a puffed up money-bags who thinks they are entitled to their entitlements could ever think that a billionaire paying <18% in taxes is fair when a secretary making $60K pays 30%.
Billionaire Warren Buffett when interviewed by NBC’s Tom Brokaw said that he has felt for years the the U.S. tax system placed too high a burden on its middle class. Buffet said,” The taxation system has tilted toward the rich and away from the middle class in the last ten years it’s just dramatic and I don’t think it’s appreciated. And I think it should be addressed.”
In a voluntary survey of his employees he discovered that their average tax rate was around 32%. Buffett’s secretary pays 30% of her 60,000 dollar income while Buffett himself, pays only 17.7% of his 46 billion dollar income.
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Hat tip to RRRR
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ScruffyDan | 13-Nov-07 at 6:58 pm | Permalink
Canada has the same broken tax problem.
I wrote about it here:
http://www.scruffydan.com/blog/?p=1035
” More than a decade’s worth of tax cuts have disproportionately lined the pockets of Canada’s most affluent families, says a new tax study by the Canadian Centre for Policy Alternatives (CCPA).
The study finds the top 1 percent of families in 2005 paid a lower total tax rate than the bottom 10 percent of families.”
Miss Cellania | 15-Nov-07 at 5:23 am | Permalink
It’s the Golden Rule. Whoever has the gold, rules.
hank | 15-Nov-07 at 2:58 pm | Permalink
Wow. That sure puts to lie that overused, way over simplistic “analogy” about the ten men going to lunch that I last encountered over at Murney’s blog on his flat tax thread. I’ll have remember this one the next time some apologist for preferential treatment for the wealthy drags that tired old cliche’ out of the tomb.
Saskboy | 15-Nov-07 at 3:24 pm | Permalink
It’d be nice if some rich bozo who gets power would finally level things out a little bit.