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

To: Tenchusatsu who wrote (595642)	12/14/2010 9:56:58 AM
From: i-node	Read Replies (2) \| Respond to of 1583680

>> Eliminate or cap the tax deductions for both, and Buffett will end up paying the same percentage as everyone else. This is very likely true -- at this point, it is likely more to do with it than cap gain/dividend as Al said. And what would happen if we did away with THOSE deductions? The cost of borrowing by localities skyrockets, and the infrastructure for charitable giving collapses. ALL of the possible escape routes to get to higher taxes Buffett supposedly wants to pay come with treacherous territory that will have devastating consequences. The only exception is the Death Tax, which doesn't raise enough money to matter (and the existence of which has nothing to do with raising money and everything to do with income redistribution and reduction of the GINI index).