http://ricochet.com/main-feed/Warren-Buffett-Stands-to-Gain-from-Higher-Taxes-on-the-RichWe've heard numerous times Warren Buffet's seemingly altruistic call to raise taxes on the wealthy. Here's an interesting article explaining why tax hikes on the wealthy won't affect him any.
http://finance.yahoo.com/blogs/breakout/buffett-soros-join-list-billionaires-calling-tax-hikes-143349541.html
+100
He himself writes in his book "snowball" how he wouldn't have invested in certain companys had there been certain tax implications.
If he was so sincere about paying more taxes, why dosen't he just send a BIG check to the treasury and lead by example, instead of paying top accountants to get him as much tax loopholes as possible. He's upset that he pays only 17.7% tax rate while his secretary pays 30% what he dosen't mention is the difference in $$$$ that the wealthy pay as opposed to the regular folk. The wealthy pay 70% of taxes already. If you want the Rich to pay more, LET THEM GET RICHER.
Form NBC "According to new data from the IRS, people who make $1 million or more had an average tax rate of 20.4 percent in 2010. Tax filers who earned $30,000 to $50,000 paid an average rate of 4.8 percent, while those who made between $50,000 and $100,000 paid 7.7 percent. Those making under $30,000 had a negative effective rate, meaning they paid no federal income taxes after deductions and credits."
And no one is even talking about this, but even if they raise taxes on the rich it would still take
536 years to pay off the current deficit.
The bottom line is that it's shelo lishma,
he stands to profit from the higher taxes he supports. http://www.forbes.com/sites/richardfinger/2012/11/30/buffett-on-taxes-self-interest-and-cheap-virtue/
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