Warren Buffett's Million Dollar Bet

"Speaking to several hundred supporters of the U.S. Senator from New York, Buffett revealed his puzzlement that he was taxed at a lower rate than many of the lesser-paid individuals working for his company.
Buffett said he makes $46 million a year in income and is only taxed at a 17.7 percent rate on his federal income taxes. By contrast, those who work for him, and make considerably less, pay on average about 32.9 percent in taxes - with the highest rate being 39.7 percent.
To emphasize his point, Buffett offered $1 million to the audience member who could show that one of the nation's wealthiest individuals pays a higher tax rate than one of their subordinates.
'I'm willing to bet anyone in this room $1 million that those rates are less than the secretary has to pay,' said Buffett."

-- Doug D'Jay, holding his daughter Anna, age 1, (who, with another daughter, Catherine, age 7, shares his birthday, April 24th) submitted this question for the Republican CNN/YouTube Debate on November 28, 2007. Video taken by yet another daughter, Maria D'Jay, age 10.)

Category:

News & Politics

Tags:

• Warren
• Buffett
• Million
• Dollar
• Bet
• Tax
• Rate
• Inequity

[Buddy212002]

Right, Trickle down the best way to go broke and borrow money from our "friends" the Red Chinese. Why don't we just let the rich drink our blood and hand over the keys to the Pentagon to Red China and the Saudi Royal Family.

[MarkDouglasC]

Deceptive my ass. The deception here is taxing someone who works his ass off self employed, or wages, pays up to 300% higher taxes, on the same income, as someone who makes capital gains. And there are all kinds of sneaky deceptive ship the cap gains and rich have to hide their income. YOu cant hide ship if you work for a living. WOrkers pay MUCH higher tax rates.

[MybookDeal]

Why not just tax all income alike? What the hell is wrong with that? However you tax work, self employed, small business, tax everything that way? If you have income, great, but dont tax one kind of income 300% percent higher? Thats what we do now, we tax middle income WORK - wages- self employed - business income - 300% higher than anything else. Tax all income like we tax hard working folks.

[QMEGA430]

Why shouldn't they get to keep it, it's theirs? Viva Che!! Isn't that right? You Commi bastard!

[Scholarius]

Trickle-down works IF you like being trickled on, count ME out. Trickle-UP might work, but if trickle-down EVER worked there would never have been any poor, not EVER. Trickle-down simply means that the billionaires, their con-men TV evangelists, multi-national corporations and their bankers should ALWAYS control 90-99% of the capital wealth, I call that reverse socialism. Taking from the poor and giving to the rich.

[Scholarius]

Lookit, people (and conservatives) Warren Buffett isn't some anonymous lightweight know-nothing, so all you poor, self-sacrificing gozillionaires and your brainwashed dittohead repugnicant toadies can either PUT-UP or STFU. John Edwards is all over your tax dodging a$s. Next question?

[kcphaid]

Buffet does not pay salary tax. He does not get a salary. He has investment earnings. He pays capital gains. It is deceptive the way he laid it out.

[QMEGA430]

How about those millionaire's pay more taxes fire their secretary and answer their phone themselves?

[QMEGA430]

Stupid question.. Trickle down works

[jefro300000]

That's what I'd like to hear.