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I would love your opinion on this article by Warren Buffet in the New York Times - basically he says all the burden of taxes etc falls on the common working man and the super rich are protected and coddled from taxes and reality  

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    • +1 votes vote up vote up

      UK Girl wrote Aug 15, 2011
    • personally I think he is right , why should the super , mega rich have the biggest tax incentives and the burden always be placed on the ordinary worker  

      But I would love to hear your thoughts




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    • +1 votes vote up vote up

      Cynthia Schmidt wrote Aug 15, 2011
    • I’ve always been in support of a flat tax. This way, everyone just pays a percentage of their income and no one is able to buck the system or shelter any of their earnings.




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    • 0 votes vote up vote up

      Vikki Hall wrote Aug 15, 2011
    • Vicki I read that earlier today. And I can go either way and agree with him or agree to a flat tax rate.

      What he said makes sense tho that whatever the tax rate is will not stop people from investing.




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    • 0 votes vote up vote up

      Tuliplady wrote Aug 15, 2011
    • I too am in favor of a flat rate tax.  Everyone needs to be paying the same percentage of their income.  I don’t believe the mega rich should be paying a higher rate than anyone else, but they should be paying their fair share.




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    • 0 votes vote up vote up

      Kyah wrote Aug 15, 2011
    • I didn’t read this article, but remember an article from USA Today from last year that stated 47% of the people in this country don’t pay income tax, thanks to various loopholes and a bipartisan tax policy. They may still pay sales tax, property tax, social security or Medicare but not income tax.  

      That bothers the hell out of me.




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    • 0 votes vote up vote up

      Tamra wrote Aug 15, 2011
    • I heard a statistic today....Even if all the billionaires paid at a 100% tax rate, that is, if they paid everything they make over to the federal government, leaving nothing to feed or house their families, it would only amount to a trillion dollars every year.  That's not nearly enough to make a difference, sad to say.

      Reality is, if everyone is going to pay their "fair share" in order to solve the debt crisis, taxes are going to go up for everyone, not just the super rich.  I suspect even some low income folks who don't pay any income taxes at all now, are soon going to be taxed.  The difference is the super rich don't feel the pain much, if at all, while the middle and lower income households have to figure out how to survive.

      Beware when Obama says that everyone should pay their “fare share.”  Like Annie pointed out, it won’t be only the super rich if it’s going to make even a dent in the deficit.




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    • 0 votes vote up vote up

      Tamra wrote Aug 15, 2011
    • Speaking to the article specifically, I have a question....why do some folks believe that rich people don’t pay taxes?

      Having studied and practiced tax law for over 20 years, I gotta say I didn’t see that to be true.  Only if someone was willing to give away all their income, could they avoid income tax entirely.




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    • +1 votes vote up vote up

      Anne E wrote Aug 15, 2011
    • It looks like Warren Buffet is talking about 236,883 households.  Flat tax rates are inherently unfair to the poor.  I completely agree with Warren Buffet who is one of the most intelligent minds in the country.




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    • 0 votes vote up vote up

      UK Girl wrote Aug 16, 2011
    • I think the bit I hate about the UK and along with lots of other people living here are the “stealth taxes” ... a % here and there on stuff which didn’t have a tax before and then at the end of the year it’s a few extra 000’s  

      we are all in free fall and we are all hurting so someone, somewhere is going to have to deal with this as what happens in the US directly affects the UK




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    • 0 votes vote up vote up

      UK Girl wrote Aug 16, 2011
    • I feel like we are squeezed between what happens with you as this affects our markets and currency and also affects the global trading currency for goods which is the Hong King Dollar which people forget - all nations exports/ imports are paid for in HK $ and if this swings wildly our goods and food cost more across the world
      The we have Europe which is like a huge drain sucking us dry of money - a bottomless pit of which we will never solve  

      The whole way they have pensions / retirement / birth rate / manufacturing everything is so badly organised and now we are just throwing money at it ....... in Greece hairdressers retire on a full pension at 50 as it’s a dangerous occupation !
      We can’t sustain this ohhhh




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    • 0 votes vote up vote up

      Cathie Beck wrote Aug 16, 2011
    • Yowza! I didn’t owe taxes last year with just an income of $8,050.  

      I don’t want a socialist society. It will only keep the poor... Poor with nowhere to go. I don’t know what the difference would be with a flat percentage rate, when federal and state tax is based on income already.  

      People with more money than us have tax lawyers that know the in and outs on taxation. I would hire one too, if I had the income I wanted to protect! And I agree with Annie that it is best to keep a capitalism structure. It has benefitted the world up until the consumer “age” to live beyond our means took over. People rarely save up cash to buy a TV or car. It is nothing to take a vacation on credit these days. So the TV and the car costs more, Far more because we buy on credit. This is a society that Pays for TV and take out dinner for a family of 5, and it’s a middle income family that has little or none in savings, but owe a lot on credit cards. People do not think about the money they spend until it comes to tax time.  

      Keep it capitalism and wise up on our values, is my thought. That includes the government.  

      Cathie




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