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Wouldn't voluntarily paying extra taxes be akin to donating money to the government? Say what you will about Buffet, but I don't think you can criticize him f

by bmj 17y ago

Wouldn't voluntarily paying extra taxes be akin to donating money to the government? Say what you will about Buffet, but I don't think you can criticize him for not writing a few extra zeros on his tax check. EDIT: Fixed duplicate words.

anamax 17y ago
Sure you can. Also, Buffet advocates higher taxes that the won't pay and that he benefits from. Consider the estate tax. He pushes it, but his estate will never be taxed. He also makes quite a bit of money selling insurance to help people pay estate taxes. Yes, he benefits directly from estate taxes.
- jbooth 17y ago
  Why will his estate not be taxed? Because he's going to give most of it away before he dies? That makes him some kind of tax cheat? The estate tax doesn't even kick in unless the inheritance is over something like 2 million dollars. That is one "anti tax" issue that I seriously don't understand. Seems like that should be literally the last tax that gets cut, why not cut the income tax if we're cutting taxes?
  - yalurker 17y ago
    Family farms and small businesses are often severely hurt by estate taxes. Many of the people who oppose the estate tax are those who want to see a farm or business stay in the family, but tax laws make it incredibly hard to transfer it to their children. It is often portrayed as something only the super wealthy need to worry about, but plenty of farmland goes on sale in the midwest because taxes can't be covered.
    - jbooth 17y ago
      Well, advocate for an exemption, then. Advocating to abolish the tax entirely come across as advocating for only the super wealthy's needs -- let's face it, family farms and small businesses with values over 2 million are a tiny minority of these inheritances, nationwide.
      - anamax 17y ago
        You're missing the point. The estates of the super wealthy aren't subject to the inheritance tax. It only hits family biz because they can't make the necessary arrangements.
jessriedel 17y ago
marshallp wasn't criticizing him. On the contrary, he was just pointing out that Buffet's actions are morally consistent.

by bmj 17y ago

anamax 17y ago

Sure you can. Also, Buffet advocates higher taxes that the won't pay and that he benefits from. Consider the estate tax. He pushes it, but his estate will never be taxed. He also makes quite a bit of money selling insurance to help people pay estate taxes. Yes, he benefits directly from estate taxes.

jbooth 17y ago
Why will his estate not be taxed? Because he's going to give most of it away before he dies? That makes him some kind of tax cheat? The estate tax doesn't even kick in unless the inheritance is over something like 2 million dollars. That is one "anti tax" issue that I seriously don't understand. Seems like that should be literally the last tax that gets cut, why not cut the income tax if we're cutting taxes?
- yalurker 17y ago
  Family farms and small businesses are often severely hurt by estate taxes. Many of the people who oppose the estate tax are those who want to see a farm or business stay in the family, but tax laws make it incredibly hard to transfer it to their children. It is often portrayed as something only the super wealthy need to worry about, but plenty of farmland goes on sale in the midwest because taxes can't be covered.
  - jbooth 17y ago
    Well, advocate for an exemption, then. Advocating to abolish the tax entirely come across as advocating for only the super wealthy's needs -- let's face it, family farms and small businesses with values over 2 million are a tiny minority of these inheritances, nationwide.
    - anamax 17y ago
      You're missing the point. The estates of the super wealthy aren't subject to the inheritance tax. It only hits family biz because they can't make the necessary arrangements.

jessriedel 17y ago

marshallp wasn't criticizing him. On the contrary, he was just pointing out that Buffet's actions are morally consistent.