Tag Archives: taxes

Tax Protesting

It was suggested to me in a separate conversation that I am a tax protester who believes that paying any taxes at all is “not right.” I was surprised at this assertion.

I do not believe, and have never believed, that paying taxes is “not right.” I don’t think I’ve ever said that to anyone. There are various mechanisms of tax, from income tax to tariffs and such, and I think that the system should be changed. (So does the Left, and Obama –just in different ways. He is as much as “tax protester” as I am.)

The idea of a national income tax is relatively recent — our current system has been in place less than half of the history of the US — but there were various tariffs in existence before then and after. Some form of government is necessary and useful, and ours was a good design. And it must be supported somehow.

In fact, we’re back to taxing the poor. Continue reading

The Left Defends Buffett

Interestingly, leftist media is pushing back on the claim that Buffet objects to the tax plan. Oh no, they say, the GOP is just misinterpreting what he said.

Warren Buffett identified how many people he expected to be affected by his idea of the ultra-rich paying more:

My program would be on the very high incomes that are taxed very low. Not just high incomes.

He doesn’t give a income figure, but that doesn’t mean he gave no data: Continue reading

$50 million a year is not a lot of money

I’m amused that Warren Buffett thinks that President Obama’s “Buffett Rule” is a bad idea:

“It isn’t [my idea] to have the rich pay more taxes. It’s to have the ultra-rich pay more,” he said, according to The Hill. “What I’m talking about would probably apply to 50,000 people in the country.”

Later on CNBC Buffett said if it were up to him, people earning $50 million would not see any tax increases, only people who “make a lot of money and pay a very low tax rate, like me.” Buffett did not put on a number on what he considers a “very high income.”

He didn’t, but it made it clear that it’s north of $50 million per year.

So much for the name “Buffett Rule.” And it seems that Obama’s policies are being badly buffeted even by his supporters.

===|==============/ Keith DeHavelle