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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Tenchusatsu who wrote (390168)	6/10/2008 1:37:27 PM
From: Road Walker	Read Replies (1) \| Respond to of 1576893

How come guys like Warren Buffet only end up paying somewhere in the high teens even though the top rate is 35%? Think increasing that rate back to 39% is going to make Buffet pay his "fair share"? Fat chance. You just allow the 15% on cap gains to expire and Buffet is up there with the rest of us.

To: Tenchusatsu who wrote (390168)	6/10/2008 1:45:37 PM
From: bentway	Respond to of 1576893

"How come guys like Warren Buffet only end up paying somewhere in the high teens even though the top rate is 35%?" Because, most of his income comes from investments, and the taxes on "unearned income" are MUCH too low. I'm glad we agree!

To: Tenchusatsu who wrote (390168)	6/10/2008 5:29:44 PM
From: Alighieri	Read Replies (3) \| Respond to of 1576893

How many people will tell you to buy a home and take advantage of the home mortgage interest deduction? How many of them will tell you to refinance your existing mortgage, unlock the equity in your home, and have that money available to you with deductible interest? My point is that you can't do any of this if make 30K a year. You are describing people who have choices. How come guys like Warren Buffet only end up paying somewhere in the high teens even though the top rate is 35%? Think increasing that rate back to 39% is going to make Buffet pay his "fair share"? Fat chance. You make my point in your sentence. Why are we giving these folks a tax break? Why? So they will let crumbs fall off the table for the average joe for whom a shelter is a foreign notion. He pays 7.5% SS on 100% of his earnings, , 2.5% medicare on 100% of his earnings, his employer matches that probably reducing his earnings potential, and then he pays all the other taxes that are levied on him...consumption taxes on most of what he buys, etc...when you add it up, his burden is pretty severe. Income redistribution you call it. Al