Well, only if you were at a Hillary Clinton fundraiser last night.
The often “out of the box” Buffet, one of the richest men in the world, offered $1 million to any one in the audience who could prove that he paid a tax rate which was higher than those that work for him. Buffett claimed that last year, he made $46 million and was taxed at 17.7%. Those that work for him pay an average tax rate of 32.9% – with the highest rate being 39.7 percent.
“I’m willing to bet anyone in this room $1 million that those rates are less than the secretary has to pay,” said Buffett.
But, of course, you know that I agree with this statement. My own tax rate hovers at more than 32%, taking into consideration SE and related taxes, which is why I recently posted that being middle class in America sucks.
Our tax policy is skewed to favor the wealthy – especially those who are dependent upon “unearned income” which is income from dividends and interest. The rates for unearned income now tend to hover around 15% which is also one of the lowest rates for the those with earned income (meaning those who make low wages). The rates for earned income for the middle class rise sharply.
And if you don’t believe me, shouldn’t you believe Warren Buffet?
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Dear, Warren Buffet I think you shoul find it in your life to give me a million dollars since you want miss it in this lifetime or the one I hope to come. Where for you to give a little of a lot of what you so deserve will be a lot for me thanks.
Rodney Burns Tifton, GA
When you work for the government, they take about 50% of your pay goes back to the government. The fair tax law at 15% should be more then enough. We the people are 99% the IRS is less than 1%. So we the people should be able to say where, when and how our money should be spent. And the people in the Oil business who are making a billion dollars a week profit, should be told to pay their taxes. Why should they go without paying taxes?
Giving money to politicians of any sort is just not right. Stop lining their pockets and help the hard working and poor that really need it. I think of all the people that really could use a financial helping hand, and yes, if I could I would try my best to help if I could. There are so many people that are really good people and reality of the world just does not let them get ahead no matter how hard they try. I know, it’s happened to me over and over again….It’s always the middle and poor that suffer the most. Lets help our own country first, lets ask all the other countries we’ve helped for our money back. We have helped them enough financially, when have they helped us? If I was given a million I would invest in my grandchildrens college/future. If you want to help someone, help me to help them. My grandchildren have a single dad that works 6 days a week just to survive and keep them clothed and fed. He served his country for 10 years and had to come home to take care of his babies by himself. His so called wife abandoned them all for drugs and etc.. It’s just sad!
i’m just a woman working 10 hour days trying to survive in america these days. house foreclosed on lost two businesses in the past three years. making slightly more then one dollar over miniumin wages. looking for investors to go forward again.
That’s what we get for putting Republicans in office who want to continue to give tax cuts to the wealthiest.
Warren Buffet is smart and not selfish. He sees the problem with our tax code. The more you have and the more you make, the more loopholes there are to get out of paying tax. Having the lower and middle classes take on a disproportionately high amount of the tax burden does not make for a healthy economy and we’re seeing the effects of it right now.
I just want to say, why won’t these rich people help the poor now and then. Some of us have tried very hard to just make a living. and then you get ill and can’t work and all the years you did work don’t amount to anything. I’ve had 3 heart attacks and open heart surgery. I’m left with only 1/3 of my heart that works. I can’t work and I can hardle walk a mile. The doctors gave me 5 more years to live because they say my heart isn’t strong enough to make it through another surgery. I was in a coma after coming out of my last one. And now I get disability, a whole $309. dollars a month. I can’t afford to live on my own, all my family is passed on from heart problems as well. My life is one step away from living under a bridge and I don’t know what to do anymore. They won’t even give me medical coverage. I have thought about ending it, but I beleive there has to be hope out there somewhere?
Steve,
I am so sorry to hear it.
I would really encourage you to try and see what kinds of assistance are available to you. I don’t know what state you’re in – but please contact the Department of Public Welfare (or the equivalent) wherever you are. It is likely, with your current circumstances, that you are entitled to a number of benefits and subsidies. And if that doesn’t work, call your local social services – or even the church in your area.
Despite how it seems sometimes, there really are people who care and who want to help. No situation is ever hopeless. Trust me.
Thank you Kelly for your advice but I’ve tried everywhere
I just think there has to be something. Try your local church, social services, legal aid. People want to help. Please keep looking.
i need help. i have a friend that is stranded in london trying to get back to the states. and no one will help him. the last ticket that he got was from a fake agent and so the ticket was fake. we have tried everything from the airlines to the embassy. and they will not help him. they keep saying that it will cost him money. they don’t understand that he is stranded. NO money. they also keep telling him the he has to pay taxes. what for. he is a visitor there trying to get home to the states. he has been there for 4 months. the hotel that he is at is helping him with accomadations. everything is always about money. no good hearted people to help.
Warren Buffet Dated :16.08.08
Subject : Contribution to Finance subject enrichment
Dear Sir,
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I assure this book of tables is unique in the world .It will be needed for all finance & Accounts student, business community, financial institution even individual who has accumulated fund for better using that fund. I also expect this book of tables will be sold huge volume world wide like dictionary because this will be much cheaper than Software.
The following innovative “Ready Reckoned Financial Table” which will also be used for Stock market, Company & Micro Credit also.
a) Annually, 1/2 yearly, quarterly, monthly, weekly, daily basis compounded interest factor
of Table of $ 1.00 (at fractional rate as 10.25%, 10.50%, 10.75%, 11% etc.
b) Annually, quarterly, monthly basis deposit pension scheme’s factor Table of $ 1.00.
c) Annually, ½ yearly, quarterly, monthly, weekly basis recovery factor of loan of $ 1.00.
d) Present value interest factor of $ of 1.00 (at fractional rate such as 5.25%, 5.50%)
e) Present value interest factor annuity of $ of 1.00 at fractional rate (Ordinary)
f) Present value interest factor annuity of $ of 1.00 at fractional rate (Due)
g) Future value interest factor annuity of $ of 1.00 at fractional rate (Ordinary)
h) Future value interest factor annuity of $ of 1.00 at fractional rate (Due)
i) Different kind of Bond & Stock Valuation Ready Reckoned Table on the basis of $ 1.00
at fractional rate such as 5.25%, 5.50%.
j) Growing Annuity Table on the basis of $ 1.00 at fractional rate.
k) Capital Assets Pricing Model Table.
l) Economic Value Added Model per share Ready Reckoned Table, so forth.
m) Value of Levered & Unlevered firm Table, WACC Table etc.
n) Risk measurement table of Port folio of stock, Walter’s share price Table so forth.
o) Different kind of Beta measurement table.
p) Trade Credit table etc.
I think firmly that “The book of financial table” will fulfill any kind of organization’s financial problem solving measurement. As a sample I attached some tables as an attached document. (PDF more than 500 pages). In the subject of Finance “The book of financial tables” has specifically quantified all financial measurement that did not occur before in such a easy method & will be remarkable contribution on economy particularly for little knowledgeable person. In a word this book is useful for universal to understand & affordable to purchase.
Sir, your contribution to Finance subject is recognition to all. Sir, I would like request to you please consider regarding this publishing for the benefit of entire community who can not be able to purchase (particularly for micro credit borrower ) computer / software & for me.
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yours faithfully
Md. Boby Imtiaz Kabir
Dear Mr.Buffet i think it is a wonderfull thing you are doing for the bill and Melinda foundation.There aren’t many people out here in this world today that would do what you are doing.I think you are a great man who cares about others.
I wish someone would make me a millionare. Im a eagle scout,high school graduate and a army vet. Im doing good for myself but i hate to know that i will waste a lifetime working. There is so much of the world i want to see and do but im a boilermaker and always working. I just wish things did not always have to be the same for people like me that have to want 2 have the good life but know they will never see it.
I wish Mr. Buffet would make me a millionare I cant work so I gess I wont
ever get thair, I just wish things did not have to be the same for people
like me who wont to have a good life and not half to wont for money
I am glad he can help some one.
The above two posts are from the residents of loserville. Get over the self-pity, folks. If you want to be wealthy – work hard and smart and don’t start having kids before you can afford them. And hire a personal trainer. Go to the gym. Develop some self worth for chrissakes.
Dr. Mr. Buffett,
Hi, I know your worth 46 million dollars and I bet Anthony Sykes never put a gun to your head. I have insufficent funds because of my x-spouse and he is a dirty politician to me. I would rather have 46 million dollars and get rid of him in a heart beat thanks to his heartless sole in my divorce left me with nothing to my fireman x-spouse who committed extortion and adultry and stole everything i had.