Do you think it's fair when some millionaires and billionaires pay a lower tax rate than people in the middle class?

In 2011, Warren Buffett famously pronounced that he paid only 17.4 percent of his taxable income in federal income taxes, a lower percentage than any of his 20 employees. He proposed that federal tax rates be raised for taxpayers making more than $1 million.

Legislation called The Buffett Rule was introduced to address that, but it never became a law.


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Most Helpful Guy

  • First there is not such thing objectively as 'fair'. Second Warren Buffet is an investor. He has already paid taxes on the money he invests. Do you think he should have to pay taxes on it again and again every time his investment acumen increases it? If I earn 100$ and I pay tax on it and then use it to bet on a horse and win $1,000 should I have to pay tax again?

    Taxes don't have anything to do with fairness anyway and taking them from one person or another makes very little difference in the overall scheme of things. If you tax rich people more they will just cause the price of everything to rise so consumers will still pay the tax. It is all political theater to distract you from the real problem, which is government wasting money and resources.

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    • That's why I asked if people think it's fair - for their subjective opinions. Buffett seems to think it's not fair, and that he and others who make an obscene amount of money should have to pay more in taxes.

      I think government spending should be reigned in too, but that's another issue.

    • Buffet is something of a showman in his down home way. The thing that annoys me about this line is as I have stated, if you think about it even for a minute you can see it doesn't matter how much you tax the rich in a market economy. They are the ones with their hands on the spigot you could tax them at 99.9% and they could just raise their income so they still get the same amount and all that tax will just be a kind of hidden sales tax.

      You could do away with the market but we've seen how that works out.

      The object of economic management should be to get as many people doing useful work as efficiently as possible. That will produce wealth for everybody. But that is not in the interests government, or more specifically bureaucracy or politicians so they put on this show for us like a magician getting you to look in one place while he does his trick in another.

Most Helpful Girl

  • Everyone should pay the same tax percentage but as far as I know the billionaires are paying 35%...

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What Guys Said 14

  • I think it's an outrage and my biggest problem with the Republican party

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  • Actually they don't pay a lower tax rate. That's a myth. They pay considerably more than lower income people. What people mistakenly do is take some rich person's effective tax rate and compare it to their marginal rate. Or even worse they compare it to their total payroll deductions. So they are comparing apples to oranges.

    Also, with rich people, their income can vary drastically from year to year. So can their tax rate. Some years will be much higher tax rates than others. So you need to look at the average rate over time, not cherry pick one year for one person that was particularly low.

    Also, Warren Buffett is a liar. A year or so ago I looked up what he actually said and read all of it. He was lying and he knew it. You can't claim someone like Buffett doesn't know what he's talking about, so he was doing it knowingly. It was a case of lying through implication and twisting it out of context.

    I think it was Forbes, and probably some others, who did an analysis on what he wrote. They basically said the same thing. His "secretary" was not some lowly secretary as he implied. As a matter of fact she's not a secretary at all.

    The person he was referring to was not middle class in any way. She was very rich herself. Because the numbers he was throwing around could never happen unless she made a boatload of money herself. That was the only way to pay that much tax. He was trying to make her out as some poor lowly secretary who was barely scraping by. With the kind of money she was making she was almost certainly a multi-millionare herself.

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  • But how much total tax did he pay compared to his employees? It may be that 17.4% was $24,000,000 for him, while his employees who paid at a higher rate may have had a tax liability of $6,000-8,000. Why should he pay at a higher percentage rate than anyone else?

    The Congressional Budget Office found that for 2011, the top 1 percent received 14.6 percent of before-tax income and paid 24 percent of all federal taxes and 35.4 percent of all individual income taxes. Still want to talk about fair?

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  • Yea they should be taxes the highest, then their money given to regular people as a better minimum wage, half paid by the employer and half paid by government through taxing the highly wealthy

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  • No, everyone should pay the same, flat rate of 0%.

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  • No it's not fair, I wish I could be a millionaire and not worry about money anyway

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  • It's messed up, people paying taxes on carried interest or capital gains instead of regular W-2 income like the rest of us. Totally messed up.

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  • No, it's not fair at all.

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  • Here’s the dirty little secret that we don’t like to talk about: when it comes to income tax, top earners really do pay more in federal income taxes. According to recent Internal Revenue Service (IRS) data, Americans earning over $100,000 paid 79.5% of federal income taxes in 2014.

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  • Fuck the middle class. What about all the people toiling for nothing in this world? The people we call politicians in our world serve the above mentioned. They pay for them and tell them what to do. The rich that you mentioned

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  • Maybe instead of raising taxes on the rich, you so giving out so much in benefits. 50-60% of US households recieve more in breaks and aid than they pay in taxes

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  • Yes it's very unfair and selfish of them 😡

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  • What really ticks me off is that half, HALF, of the people pay no federal income tax. They are also the ones who want socialism, collect benefits from the government and who constantly whine about those who have been successful, meaning those who pay taxes.

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  • I think he's a hypocrite. He could ask the government to set up some fund that he could funnel money into, since he so "desperately" wants to be taxed higher.

    And he could request to the board to be paid more monthly that what he's getting now, which isn't that much considering what company he's in charge of.

    And he could see if the staff members would be ok with $1 monthly wages (as so many CEO are paid - yepp, because they live off their enormous bonuses) and would get many stock options in Berkshire Hathaway, which would possibly be a very good deal for them

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What Girls Said 6

  • Tax should be made easy. If you earn more, you pay more. done.

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  • Absolutely not.

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  • I dont think it is fair for people that dont pay any taxes get thousands of tax refund. But answer to your question... no I dont think. They should be paying more than anyone.

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  • I think nobody should pay tax

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  • No it's not fair. I hate it.

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  • what percent did his employees pay?

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