Warren Buffet On Why U.S. Taxes Are Too Low For The Wealthy

Warren Buffet and Bill Gates discuss why a flat tax would be a mistake, how taxes on the wealthiest Americans are too low, and how the tax system has been tipped totally in favor of the wealthy. From a 2005 program on Nebraska public television.

Category:

News & Politics

Tags:

• Warren Buffet
• Bill Gates
• flat tax
• taxes
• capital gains
• Nebraska

[ronaldvanbell]

@cyborganic99 how do you figure his vast earnings are capital gain. He hasn't sold stocks for years.

He mentioned in other interview that his main income is dividends, and he pays only 15%.

He fails to mention the 35% his company is paying

[cyborganic99]

@ronaldvanbell w8, hes a hypocrete because he preaches high taxes and pays high taxes? that would be the opposite. but your math is messed up. you dont add personal income to capital gains. you average them. that and you have to calculate base on how much you make frome what scource. the vast majority of his income is capital gains. his total average tax is probly more like 17%

[ronaldvanbell]

warren buffet is an hypocrete. on his income he pays 35% corporate income tax plus 15% dividends, 50% total.

If he takes a salary, he pays very close to that also.

most people in this country really pay only payroll taxes and nothing more.

.The problem is government spending anyway, not lack of taxes.

[MrLeeTbagger]

60 min. with msn brought me here

[trueconservatie33]

@allgoo19 1986 tax reform act signed by reagan, ted kennedy and dick gerphardt. the left refuse to admit this

[allgoo19]

@trueconservatie33 "illusion that back in the 50's and 70's rich paid more taxes, but there were a lot of tax shelters .."

==

Info. I have says tax evasion rapidly started growing in 1970s by means of offshore account.

Direct me to your source is not affiliated with right wing organization and what kind of evation they had in 1950s that we don't have today?

[trueconservatie33]

@Johntkr exactly you make my points, they are not giving their moneys to the government. every dollar government tax out of us is every dollar doesn't go to the private sectors. There's an illusion that back in the 50's and 70's rich paid more taxes, but there were a lot of tax shelters and deductions that didn't exist day.

[Johntkr]

@trueconservatie33 Buffet and Gates have given away billions. The key is to change the tax laws so that it makes a real change for fairness in taxation. Buffet and Gates are giving the rest of us direction so that we will talk to our representatives about whether they want to be elected again. So I do not blame Gates or Buffet. Maybe doing so does not help the matter. You decide.

[trueconservatie33]

@Phillysoc he purposely choose to use a loophole to pay a lower tax. if he want to pay higher taxes just tell his firm to stop fighting IRS, or just simply write a check to the treasury, there's not a single law will prevent you or him doing that. why do think a lot of rich ceo choose to pay themslves a low salary

[Phillysoc]

@trueconservatie33 Why should I watch your video? I mean why would anyone who stands to lose MILLIONS if his taxes go up lie about something like this? I mean I could understand him saying he pays too much and wants a lower rate, but the other way around???, saying he doesnt pay enough and wants to pay more? Dude get real NO ONE would lie about that. The truth is that Buffett should not be paying a CAP DIV rate of 15 % while people that work for him and make MUCH LESS be paying 30% .