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They are "largely law-abiding" because collectively, they've bought the ability to call their actions law-abiding. Warren Buffet pays a smaller % of his income
by NickC25 4y ago
They are "largely law-abiding" because collectively, they've bought the ability to call their actions law-abiding.
Warren Buffet pays a smaller % of his income in tax than he secretary does, and he's said that himself. You know how that's possible? Because Buffet and people like him bought off the government ages ago and, collectively, said to the IRS "we're going to tell you what we are going to pay, and you're going to deal with it, OK?", and continually lobby congress and say that whatever minuscule amount they actually do pay is WAY too high and needs to be cut, and cut again.
- amanaplanacanal 4y agoHis income is probably mostly capital gains, which are taxed at a lower rate than earned income. There are reasons for that which economists can discuss, I have no opinion myself.
- s1artibartfast 4y ago>Warren Buffet pays a smaller % of his income in tax than he secretary does, and he's said that himself You say that like it should be shocking, but I don't see why that would be the expectation. You could easily come at it from the opposite direction and wonder why Buffet pays so much more than his secretary in dollar terms, yet they get the same police, roads, schools, and public services.
- chii 4y agoIt's because the argument comes not from rational thought, but first from ideology - that the richer person _should_ bear a higher burden (which they do, but just not percentage wise compared to their total wealth or income). Then they find examples of such, and use it as evidence. Buffett pays less in %, because he is not earning wage labour. That's not tax fraud, nor is it illegal.
- itsdrewmiller 4y agohttps://en.wikipedia.org/wiki/Buffett_Rule https://en.wikipedia.org/wiki/Buffett_Rule Buffett specifically believes that this is bad and his taxes should be higher.
- LanceH 4y agoHe says. He has every opportunity to pay those higher taxes, but doesn't. As he has said numerous time, people say things but if you follow their money, they believe other things.
- s1artibartfast 4y agoThis is a very fair point, and I see it all the time from all sides of the political specturm. Same for people advocating for higher taxes to support poverty programs, green power, ect. Most people know where their checkbooks are but aren't using them. What they really mean is either 1) I wan't someone else to pay taxes for X, or 2) Im willing to pay more taxes, but only if everyone else does it too. Thats not to say either of those positions are necessarily bad, just that people aren't very honest about expressing them, or possibly with themselves.