President Barack Obama says he wants to make sure millionaires are taxed at higher rates than their secretaries. The data say they already are. "Warren Buffett's secretary shouldn't pay a higher tax rate than Warren Buffett. There is no justification for it," Obama said as he announced his deficit-reduction plan this week. "It is wrong that in the United States of America, a teacher or a nurse or a construction worker who earns $50,000 should pay higher tax rates than somebody pulling in $50 million." On average, the wealthiest people in America pay a lot more taxes than the middle class or the poor, according to private and government data. They pay at a higher rate, and as a group, they contribute a much larger share of the overall taxes collected by the federal government. More : http://www.hermancainforums.com/index.php/topic,762.0.html
So a 15% capital gains tax rate is higher than 15.5% SS/FICA plus 10~25% federal income tax? Could you please explain that math to me?
Granny says, "Dat's right - dem crooked politicians in Washington always makin' up the rules as dey go along... Warren Buffett Blames Federal Law For Romney's 15% Rate January 23, 2012: Washington Billionaire investor Warren Buffett said he doesn't blame Republican presidential candidate Mitt Romney for paying only about 15% of his income in taxes, saying it was misguided federal law that allowed very wealthy people who make a living "shoving around money" to pay a lower rate than average Americans.
Sure Id love too.... 15% of $45 million is $6,750,000 25% of $500,000 is $125,000 $6,750,000 > $125,000 in any sane mind. Obama lied and all yall leftys ate it with a spoon.....
Complete hokum and COMPLETE BS. First of all, corporate taxes rarely ever reach 35%. More like But MOST investments HAVE no corporate taxes on them! Appreciation of stock values, appreciation of value of business, property, investment instruments, bonds, and so much more have NO corporate taxes on them.