Thread: Alternative to the "Buffett Rule"

Time and time again, President Obama advocates raising taxes (income and/or capital gains) on millionaires and billionaires to meet the level paid by parts of the middle class. He often uses Warren Buffet's secretary, Debbie Bosanek, as an example of someone who pays a higher tax rate when compared to Warren Buffet himself. As most of you know, this is simply because Buffett's way of making money is through capital gains. I see irony in the example of his secretary because the income she receives automatically puts her in the top 1%, but the fact remains that she pays a higher rate.

With that aside, I don't understand why their is a push for taxes to be raised on millionaires and billionaires to reach the levels of middle class income citizens who pay a higher rate because they fall under an upper federal income tax level. Why aren't middle class individuals instead advocating for a lowering of their taxes to meet the rates paid by millionaires and billionaires?

Originally Posted by Nate

Time and time again, President Obama advocates raising taxes (income and/or capital gains) on millionaires and billionaires to meet the level paid by parts of the middle class. He often uses Warren Buffet's secretary, Debbie Bosanek, as an example of someone who pays a higher tax rate when compared to Warren Buffet himself. As most of you know, this is simply because Buffett's way of making money is through capital gains. I see irony in the example of his secretary because the income she receives automatically puts her in the top 1%, but the fact remains that she pays a higher rate.

With that aside, I don't understand why their is a push for taxes to be raised on millionaires and billionaires to reach the levels of middle class income citizens who pay a higher rate because they fall under an upper federal income tax level. Why aren't middle class individuals instead advocating for a lowering of their taxes to meet the rates paid by millionaires and billionaires?

I agree. Good post.

Originally Posted by Nate

Time and time again, President Obama advocates raising taxes (income and/or capital gains) on millionaires and billionaires to meet the level paid by parts of the middle class. He often uses Warren Buffet's secretary, Debbie Bosanek, as an example of someone who pays a higher tax rate when compared to Warren Buffet himself. As most of you know, this is simply because Buffett's way of making money is through capital gains. I see irony in the example of his secretary because the income she receives automatically puts her in the top 1%, but the fact remains that she pays a higher rate.

With that aside, I don't understand why their is a push for taxes to be raised on millionaires and billionaires to reach the levels of middle class income citizens who pay a higher rate because they fall under an upper federal income tax level. Why aren't middle class individuals instead advocating for a lowering of their taxes to meet the rates paid by millionaires and billionaires?

Good point.

Originally Posted by Nate

Time and time again, President Obama advocates raising taxes (income and/or capital gains) on millionaires and billionaires to meet the level paid by parts of the middle class. He often uses Warren Buffet's secretary, Debbie Bosanek, as an example of someone who pays a higher tax rate when compared to Warren Buffet himself. As most of you know, this is simply because Buffett's way of making money is through capital gains. I see irony in the example of his secretary because the income she receives automatically puts her in the top 1%, but the fact remains that she pays a higher rate.

With that aside, I don't understand why their is a push for taxes to be raised on millionaires and billionaires to reach the levels of middle class income citizens who pay a higher rate because they fall under an upper federal income tax level. Why aren't middle class individuals instead advocating for a lowering of their taxes to meet the rates paid by millionaires and billionaires?

Because the filthy rich deserve to be taxed more, given their methods of extracting the wealth.

I paid 15% to the feds last year she paid 35% my tax rate is lower then her's.

What salary range are we calling middle class?

Originally Posted by Danneskjold

I paid 15% to the feds last year she paid 35% my tax rate is lower then her's.

What salary range are we calling middle class?

The salary range representing the wealthiest corporate bloodsuckers (One that cannot be verified except to say they "worked for it", yet their history would indicate something different).