msnbc.msn.com — The very rich in America pay taxes at a lower rate than most working people, private-equity partners enjoy some of the lowest tax rates of all. At a fund-raiser in New York last month, Warren Buffett: "This is what Congress in its wisdom did: the 400 of us [here] pay a lower part of our income in taxes than our receptionists do...'
Aug 28, 2007 View in Crawl 4
usefulAug 29, 2007
So they keep it under their mattress? Lets pretend their aren't banks I guess.
buznegAug 29, 2007
This also screws investors in the stock markets as investor's get the profits from the company, just list as expenses YOUR service, or your buddies company, that charges an inflated price. Any Companys operator can do this and never get caught.
dissident0Aug 29, 2007
Sure. Their high wealth is a product of poor people's labor anyway. It's about time they share the wealth.
thecoolestguyAug 30, 2007
Government's role is not to redistribute wealth. That is charity's role. It can only be done voluntarily.
jitterbitsSep 2, 2007
Well, many keep their money in offshore accounts...
aikimannSep 6, 2007
The embedded taxes in products would disappear. This amounts to about 23% of the price of all goods we pay for now. If the fair tax were passed, this embedded tax would disappear, and would be replaced with an identical tax rate. Leaving prices largely the same. So no increased cost to anyone for goods. Also, the decreased tax burden on business and investments would cause trillions of dollars in overseas business investments here as well as money currently in overseas tax shelters.
aikimannSep 6, 2007
The rebate arrives BEFORE they need it, not after. So that's not an issue.
anarchytvSep 15, 2007
If Warren Buffet wants to do right he needs to take a huge chunk of those millions he made off his huge investments in Coca Cola and help out all the people that got diabetes and tooth decay from becoming addicted to that crap. Yeah, you made your money legitamately, at the expensive of hundreds of thousands of people's health from selling addictive product that causes all kinds of health issues with no warning label on them whatsoever.