Category Archives: taxes

Buffett says taxes are too low, but doesn’t pay more himself

Echoing his comments in June, Warren Buffett is complaining about tax rates as being too low. The relevant question is: has he done anything about it or is he just being a hypocrite, again?

Let?¢‚Ǩ‚Ñ¢s see what Buffett has actually done instead of said: Buffett is giving away is fortune ( Good for him, great choice, it is nice that he has the right and freedom to do as he sees fit with the money he has earned. Too bad Buffett doesn’t think that others should have that same freedom.

What precisely is Buffett doing? He is giving his fortune to tax-exempt foundations. So, if you REALLY want to pay more taxes, Warren, why do this? Continue reading Buffett says taxes are too low, but doesn’t pay more himself

Warren Buffett attacks tax rates as being too low?

“Mr Buffett said that he was taxed at 17.7 per cent on the $46 million he made last year, without trying to avoid paying higher taxes, while his secretary, who earned $60,000, was taxed at 30 per cent.” (see Times Online article)

Sounds like Warren Buffett has a perfect argument to lower his secretary’s tax rate to 17.7% (or lower). How about that Warren? Of course, that is unlikely to happen since Buffett has made his stance clear – that he wants everyone to pay MORE taxes, not less. Continue reading Warren Buffett attacks tax rates as being too low?

Brian Lamb of C-SPAN and the meaning of “give”

Brian Lamb of CSPAN obviously has no idea what the meaning of the word ?¢‚Ǩ?ìgive?¢‚Ǩ¬ù is. quotes him as stating:

?¢‚Ǩ?ìWe are not a taxpayer organization ?¢‚Ǩ¬¶ We get no federal funds, state funds, local funds. We get our money from you. You give us a nickel a month when you pay your bills, and that’s how we operate here.?¢‚Ǩ¬ù
(See the original article here.)

Brian, to ?¢‚Ǩ?ìgive?¢‚Ǩ¬ù means FREELY transfer. Somehow I missed where I could opt out of my monthly ?¢‚Ǩ?ìgift?¢‚Ǩ¬ù to you. We may pay it in return for supposedly unbiased coverage, but we don’t “give” it. Please consider this a request to opt out and for a refund of my previous “gifts.” Continue reading Brian Lamb of C-SPAN and the meaning of “give”

Florida Property Tax Reform and Elimination

As you may already know, the State of Florida is currently considering a measure to eliminate the Florida Property tax during a special session (June 12-22, 2007), so action today is important. Property values in Florida have increased significantly over the past 5 years – 11 percent, 12.2 percent, 18.2 percent, 19 percent and 25 percent. The combined impact from all taxing jurisdictions is that property tax revenues have doubled, significantly outpacing inflation. Over the last decade state population has grown by 25 percent, personal income has grown by 86 percent, but property taxes have increased by 148 percent. The politicians whining about not having enough revenue want power over you, nothing more and will use fear and any technique than can in order to keep it. Their special interest friends want their handouts that the politicians take from you.

Abolishing the property tax would be a boon for the State of Florida for many reasons:
* Increased property values: people can afford more for their money without worrying about property taxes each year.
* Increased growth: lower taxes increase growth; meaning more jobs and better wages.
* Easier Home sales: people will be able to afford a more expensive house and be more mobile because they won?¢‚Ǩ‚Ñ¢t fear a huge tax increase that a move currently would cause. Continue reading Florida Property Tax Reform and Elimination

Taxpayer Bill of Rights

Taxpayer Bill of Rights
The Governor of Colorado, Bill Owens (Wall Street Journal, Letters, June 24, 2005) laments that the ratcheting down effect in the Tabor and calls it a “flaw.” In fact, it is a strength of those bills. He also claims that it “hurts”. The question is, who does it hurt? The politicians who want more money to spend! Letting you keep more of your own money doesn’t “hurt,” unless you are the person who wants to spend someone else’s hard earned dollars! Continue reading Taxpayer Bill of Rights

Out-sourcing Jobs? What about the causes?

Wednesday, February 25, 2004
Out-sourcing jobs?

The ?¢‚Ǩ?ìcrisis?¢‚Ǩ¬ù in the U.S. about ?¢‚Ǩ?ìexporting jobs,?¢‚Ǩ¬ù will become a campaign issue. However, the immense impact of the United States?¢‚Ǩ‚Ñ¢ taxation of exports is being ignored.

Politicians will attempt to dismiss the cause as ?¢‚Ǩ?ìgreed?¢‚Ǩ¬ù by corporate interests which requires more laws from Washington. The fact is that the U.S. taxes our own exports to the rest of the world whereas the rest of the world does not do the reverse. According to Ernest Christian, a tax expert based in Washington D.C., the disadvantage to the U.S. is between $120 billion and $150 billion per year. Think about that number. Continue reading Out-sourcing Jobs? What about the causes?

Redistribution of Wealth Quotations

A liberal is someone who feels a great debt to his fellow man, which debt he proposes to pay off with your money.–G. Gordon LiddyA government which robs Peter to pay Paul can always depend on the support of Paul. –George Bernard ShawForeign aid might be defined as a transfer from poor people in rich countries to rich people in poor countries. –Douglas Casey (1992)Giving money and power to government is like giving whiskey and car keys to teenage boys. –P.J. O’RourkeGovernment is the great fiction, through which everybody endeavors to live at the expense of everybody else. –Frederic BastiatGovernment’s view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it. — Ronald Reagan (1986)I don’t make jokes. I just watch the government and report the acts. –Will RogersIf you think health care is expensive now, wait until you see what it costs when it’s free. –P.J. O’RourkeJust because you do not take an interest in politics doesn’t mean politics won’t take an interest in you. –Pericles (430 B.C.)No man’s life, liberty, or property is safe while the legislature is in session. –Mark Twain (1866)Suppose you were an idiot. And suppose you were a member of Congress. But I repeat myself. –Mark TwainTalk is cheap-except when Congress does it. The government is like a baby’s alimentary canal, with a happy appetite at one end and no responsibility at the other. –Ronald ReaganThe inherent vice of capitalism is the unequal sharing of the blessings. The inherent blessing of socialism is the equal sharing of misery. -Winston ChurchillThe only difference between a tax man and a taxidermist is that the taxidermist leaves the skin. –Mark TwainWe contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle.–Winston ChurchillWhat this country needs are more unemployed politicians. –Edward Langley

Wesley Clark’s Tax Reform ‘Fairness’

January 10, 2004

In response to Wesley Clark’s “Real Tax Reform” article in the Wall Street Journal of January 9, 2004 calling for more “fairness” in the tax code and the AMT, at least we now know exactly where Wesley Clark stands on equality: As long as the minority is a small enough voting block, it is ok for the majority to force them to pay for whatever that majority wants. So much for the goal of equality under the law. Continue reading Wesley Clark’s Tax Reform ‘Fairness’