BTW, an odd thing about the "Buffett Rule"

[Little-Acorn]

Has anybody noticed that the "Buffett Rule" doesn't affect Warren Buffett's taxes at all?

The Buffett Rule says that people who have high incomes, should have their Income Taxes raised.

But Warren Buffet gets ALL his income from stocks, bonds etc... none of which are taxed as Personal Income. So an increase in Income Taxes won't affect Buffet at all. Only an increase in Captial Gains taxes would do that.

No wonder Buffett is calling for an increase in Income Tax rates!

Only in America.....

[fj1200]

Has anybody noticed that the "Buffett Rule" doesn't affect Warren Buffett's taxes at all?

Not necessarily true.


Buffett specifically suggested that the so-called “Super-committee” required to come up with $1.5 trillion in deficit reduction should “leave rates for 99.7 percent of taxpayers unchanged… But for those making more than $1 million — there were 236,883 such households in 2009 — I would raise rates immediately on taxable income in excess of $1 million, including, of course, dividends and capital gains. And for those who make $10 million or more — there were 8,274 in 2009 — I would suggest an additional increase in rate. My friends and I have been coddled long enough by a billionaire-friendly Congress. It’s time for our government to get serious about shared sacrifice.”
http://abcnews.go.com/blogs/politics/2011/09/president-obama-to-propose-millionaires-tax-called-buffett-rule/

You can read through this mess to find the details if you like.

http://www.gpo.gov/fdsys/pkg/BILLS-112s2059is/pdf/BILLS-112s2059is.pdf

[MtnBiker]

The most odd thing about the Buffett Rule is, how does the government taking more money out of the private sector grow the economy?