To: Brumar89 who wrote (686355 ) 11/28/2012 4:17:59 PM From: J_F_Shepard Read Replies (2) | Respond to 1. Buffett says tax hikes won’t hurt jobs.Fact: Tax hikes, especially those he espouses, hurt jobs. The "greatest tax increase in the history of the nation", the Clinton 93 tax, stimulated the economy to its greatest era in history and generated 22 million jobs.2. Buffett says tax hikes won’t stop investors from investing.Fact: Any time you tax something, you get less of it. Any data to show that proves it?? Millions of stock and bond trades are made everyday without regard to tax implications... Do hedge funds only buy stocks that will be kept for 6 months or more??3. Buffett says the wealthy aren’t even paying a minimum tax.Fact: We already have an Alternative Minimum Tax. But it hurts the 98% of people making 200 to 500K. Only 36.5% of those making 1 megabuck or more pay the AMT... Buffet is talking about that top 1% who only pay 20% or less like Romney....4. Buffett says we need to raise taxes to bring in more revenue for the government.Fact: The problem is government spending, not government revenue. That's a political religious belief not a fact.....“According to the Congressional Budget Office (CBO), the top 1 percent of earners (those with incomes over $1.2 million in 2009) pay an effective tax rate on all federal taxes of 29 percent. That’s almost three times as high as the 11 percent average rate paid by the middle class.” According to the IRS, the top 1% paid 24% of AGI, the top 5% paid 20%,taxfoundation.org
