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Politics : Liberalism: Do You Agree We've Had Enough of It?

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To: Ann Corrigan who wrote (11609)7/3/2007 1:30:10 AM
From: American Spirit  Read Replies (1) of 224749
 
Why do we have trillions in new deficits? Warren Buffett makes 46 million and pays less tax per dollar than the average Joe. And he doesn't even want the needless gift from Bush-Cheney and the GOP. But many like billionaire owner of Newxmad Mellon Scaife (Gulf Oil heir) do. They are very greedy and don't wantr your kids to have any of their money.

"Buffett said he makes $46 million a year in income and is only taxed at a 17.7 percent rate on his federal income taxes. By contrast, those who work for him, and make considerably less, pay on average about 32.9 percent in taxes - with the highest rate being 39.7 percent.

To emphasize his point, Buffett offered $1 million to the audience member who could show that one of the nation's wealthiest individuals pays a higher tax rate than one of their subordinates.

"I'm willing to bet anyone in this room $1 million that those rates are less than the secretary has to pay," said Buffett."

money.cnn.com
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