Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: wonk who wrote (443692)	8/15/2003 8:05:42 PM
From: Gordon A. Langston	Read Replies (1) \| Respond to of 769670

I think the plan now is to tax dividends the same as long term capital gains. One thing I'm not clear on is whether the Alternative Minimum Tax affects this issue. Any tax accountants? " Buffett, chief executive officer of Berkshire Hathaway Inc., wrote a Washington Post column in May criticizing plans to eliminate taxes on stock dividends. He called it "voodoo economics" and noted it would result in his tax rate dropping to 3 percent while his receptionist's rate remained at about 30 percent. But a few days after the column appeared, the U.S. House and Senate reached a budget deal that ended the president's hopes for tax-free stock dividends. Instead of eliminating dividend taxes altogether, Congress reduced taxes on dividends from up to 38.6 percent to 15 percent for most taxpayers through 2008. Buffet's tax rate may have dropped, but not to the level Graham repeatedly cited. Graham campaign spokeswoman Kristian Denny said Graham did speak to Buffett, but apparently based his stump speech line on an outdated conversation. "Could he have been a little clearer? Yes," Denny said. "But the fact of the matter is that the final version of the bill has Buffett's secretary paying a higher tax rate than Buffett." She did not know what Buffett's tax rate would be. Representatives of Buffett, who made headlines this week after joining Arnold Schwarzenegger's California gubernatorial campaign as an economic and financial adviser, did not return phone calls Thursday." sptimes.com

To: wonk who wrote (443692)	8/15/2003 9:29:10 PM
From: DavesM	Respond to of 769670

Instead of merely taxing income, or dividends (he doesn't pay), why doesn't Warren advocate a tax based off of assets (stock ownership, for example)? Surely, then the rich will pay their fair share of taxes (since their ownership of financial assets, is much greater than the rest of the population). People pay taxes based on the value of their real estate properties, why not make Warren pay a tax based on his ownership of financial property? Maybe he should tell Arnold to tax financial property at the same rate as real estate. And to make sure that we only tax those who can afford it, only tax the financial assets of people worth more than $10 billion. :o)