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Title: Buffett blasts system that lets him pay less tax than secretary
Source:
http://business.timesonline.co.uk/
URL Source: http://business.timesonline.co.uk/t ... s/money/tax/article1996735.ece
Published: Jun 28, 2007
Author: Tom Bawden in New York
Post Date: 2007-06-28 14:54:34 by robin
Keywords: None
Views: 99
Comments: 8
Warren Buffett, the third-richest man in the world, has criticised the US tax system for allowing him to pay a lower rate than his secretary and his cleaner. Speaking at a $4,600-a-seat fundraiser in New York for Senator Hillary Clinton, Mr Buffett, who is worth an estimated $52 billion (£26 billion), said: “The 400 of us [here] pay a lower part of our income in taxes than our receptionists do, or our cleaning ladies, for that matter. If you’re in the luckiest 1 per cent of humanity, you owe it to the rest of humanity to think about the other 99 per cent.” Mr Buffett said that he was taxed at 17.7 per cent on the $46 million he made last year, without trying to avoid paying higher taxes, while his secretary, who earned $60,000, was taxed at 30 per cent. Mr Buffett told his audience, which included John Mack, the chairman of Morgan Stanley, and Alan Patricof, the founder of the US branch of Apax Partners, that US government policy had accentuated a disparity of wealth that hurt the economy by stifling opportunity and motivation.
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#1. To: All, Cynicom (#0)
ping
I wonder if the Browns could use this info.
So they could say they made more money than the IRS claims?
So they could prove the unlawful inequity of the federal tax system.
Unlawful inequity and lawful inequity would be different things. I half expect the IRS & DOJ lawyers would not object to the latter being stated as fact, but they'd claim everything is lawful, and whether the system is fair or not isn't important.
Most likely in a court of law, but public opinion? Whole different ballgame.
All we ever read about is the fact that Buffett paid millions in taxes. The masses seem not to understand per centages.
Ron Paul for President
#2. To: All (#0)
Ron Paul for President
#3. To: robin (#2)
#4. To: Pinguinite (#3)
Ron Paul for President
#5. To: robin (#0)
#6. To: robin (#4)
So they could prove the unlawful inequity of the federal tax system.
#7. To: Pinguinite (#6)
Ron Paul for President
#8. To: robin (#0)
Mr Buffett said that he was taxed at 17.7 per cent on the $46 million he made last year,
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