Warren Buffett and his COMPANY are the ones responsible for the way he is paid. HAD he taken a salary instead of gains as income, he'd pay a REAL INCOME TAX instead of gains tax. He's working the system. BUT Obama's solution is to screw up the gains tax system, and MAKE them the same. That is CRAP.......Originally Posted by RoadToad
If I make 100k and paid TAXES on that 100k and then I put 10k of that in a stock plan, and that stock plan tripled, I should NOT have to pay the same rate of taxes on the REALIZED GAINS. I RISKED losing 10k, investing and gambling in a company. The rate of tax on that gain should be significantly lower, maybe even ZERO.......Otherwise no one will ever risk money.......Don't you get that?? Forget the fact that the original 10k had already been taxed once before. If my original tax rate was 30%, the gains has now been taxed at 20%, simplistically, I've paid 50% on that money, which was already TAXED.........which is ********.
Now, if the ONLY income I ever report is GAINS income, that is different.....I believe there needs to be a metric or method of triggering income taxes on gains, so the Warren Buffetts of the world cannot act holier than thou, and say
"hmph.....I paid less than my secretary because I'm smarter than all you democrats that think you know what's what about the tax code.........I'm SMART.....btw, my company which manages over 50 billion dollars, still owes the gubment 1 billion in back taxes, but I STILL am smarter than you".
No Mr Pompus ASS Warren Buffett....you CHEATED the gubment out of Income Taxes, and your company is currently CHEATING the gubment out of Corporate Taxes.......Nice of you to stand on your freakin high horse and preach to us........Now PAY the GD TAX bill.....then we can talk.
Later,
Geo
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