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Anonymous
Anonymous asked in Politics & GovernmentPolitics · 9 years ago

When Obama say Buffets secretary pay more taxes that his boss does he not know Buffets secretary makes 1.5 mil?

and buffets income is just profits of his investments taxed at a different rate. or is Obama just an idiot

Update:

Proof for Nancy who has never heard of google or news that isnt MSNBC

http://www.theblaze.com/stories/warren-buffett-his...

Update 2:

Vrown people who make 60 dont pay the top rate of 37%

11 Answers

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  • Anonymous
    9 years ago
    Favorite Answer

    Buffet is a self-hating rich person and he needs to be committed. FACT.

  • ?
    Lv 7
    9 years ago

    Statistical Manipulation is a tool of both parties.

    I know that they are comparing Income Tax Rates with Capital Gains Rates.

    All this does is MUDDY the issue, instead of having a real discussion.

    Shouldn't the Question be: "Why does Mr. Buffet and Mr. Romney only pay 15% Capital Gains Tax, when Investing is their Job, and the Money they make is their INCOME?"

    I'm a Republican and I'd be honored to sit and discuss that question, BUT I will not be goaded in Responding to FALSE and Inaccurate, Distortion of Facts, Numbers and Statistics, because it Serves No Purpose, and Offers No Solutions to Problems.

    I wish we could play fair with Facts and Debates and actually learn something, and make better decisions.

    EDIT: I included Facts Below. Look it up and make your own decisions Folks.

    If she made $60K, then she paid 7.7% of her AGI (adjusted gross income-that's before deductions and credits and such)

    If she made $1.5M, the she paid 25.6% of her AGI.

    Make some Learned Factual decisions and opinions.

    Source(s): www.irs.gov/pub/irs-soi/09in11si.xls
  • Actually it was Buffet himself who originally brought that to the medias attention. He and his secretary went on ABC news. And she does not make 1.5 million. Warren Buffet has done more then one survey and everyone in his office pays more then him. While they did not disclose her salary they said it was the average income for position which in the US is between 40 and 80 thousand a year.

    There have been alot of "guesses" at what her salary is none based on any fact. The only fact we know is she a few years ago bought her first home ever with a 30 thousand dollar down payment she stated she had worked years to save.

    Warren Buffet on the other hand has released that his "salary" is 100 thousand a year. So no it is not all income and investments. He does have payroll taxes. I am going to doubt he pays his secretary 15 times what his salary is.

  • 9 years ago

    Buffet pays a lower rate for a different kind of income. If his secretary also made her money off of investments she too would be taxed at the lower rate.

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  • 9 years ago

    Obama is not an idiot - but he assumes that we are. When you hear "secretary" you think young, single, female that works hard for little money. But Buffet's "secretary" is easily making enough to put him/her in the highest income bracket. And the claim (Buffet pays less than his secretary) compares apples and oranges - but insinuates it's apples to apples. Investment taxes (which is 15% for EVERYBODY, not just "evil" rich folks) vs. income taxes.

    Raising the tax rate on investments wouldn't hurt Buffet in the slightest bit. But it would hurt me, and every other average Joe that makes investments for their savings.

    80% pay 15% or less

    50% pay 0.

  • jehen
    Lv 7
    9 years ago

    Not more taxes, a higher rate. Any anyone making more than about $50,000 pays a higher rate on a at least a portion of their income than Buffet pays overall on his. So who cares if his secretary's wages are $50,000 or $5,000,000 - the point is made.

  • Anonymous
    9 years ago

    Buffet's secretary pays taxes at a higher rate than obongo, too.

  • 9 years ago

    It's a lie anyway, she pays higher %, she doesn't pay more taxes. They also don't account for the risk of investing you don't recover if you lose or the fact that corps are taxed 35% then another 15% comes off so it's 50% investors pay.

    Source(s): THE FACT IS WHEN YOU COUNT UP ALL TAXES PAID ON RISKY INVESTMENT IT'S 35% + 15% = 50% THAT 50% IS ON $ THEY OFTEN PAID OVER 50% IN TOTAL TAXES WHEN THEY EARNED IT. THAT TOTAL TAX IS OVER 75% & THAT IS ON MONEY THAT THEY MAY LOOSE 100% OF. People are so ignorant it's just insane. More investment in business = more jobs. It should be 0% on Corps & 10% on Investments. Everyone would have more including the government because economic activity = tax opportunity.
  • Anonymous
    9 years ago

    She must have gotten a hell of a raise since a month ago she was making 60 grand.

    I think you are just practicing the time honored Republican tradition of making up facts to suit your opinion.

  • Anonymous
    9 years ago

    He should know it, He made up the lie. Or was it g. soreass.

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