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The trouble is not that inequality exists -- I think, that some form is necessary in our world -- but that the inequality is increasing in a rapid rate and that

The trouble is not that inequality exists -- I think, that some form is necessary in our world -- but that the inequality is increasing in a rapid rate and that in the current state of our society, not achievements where the society benefits are rewarded by the system, but rather achievements where society looses (e.g. speculations, pure possession of wealth, investing -- whatever frivolous it might be, omitting taxes by using legal holes and off-shore trickery, ....) Even Buffett spoke out, that his class wins, but it should not (for the good of society). And he said, that something is wrong, when his secretary has to pay a much higher tax-rate as himself.

wtbob 11y ago
> Even Buffett spoke out, that his class wins, but it should not (for the good of society). And he said, that something is wrong, when his secretary has to pay a much higher tax-rate as himself. Did you read the article? Mankiw noted that when CBO statistics are used, taking into account all taxation, not just income taxes, the United States have a very progressive tax system.
- jazzyk 11y ago
  On paper. In reality, there are many loopholes (the more money involved, the more fully legal loopholes)
  - wtbob 11y ago
    No, the CBO study looked at the actual dollars coming from people; as Prof. Mankiw notes, while there might be invididual exceptions the overall figures are as stated.
    - PythonicAlpha 11y ago
      So, your claim is, that Buffett does not know how much taxes he pays? If this would be true, I would wonder, how he got all his money in the first place. >the United States have a very progressive tax system Compared to which system? The system of Sweden or of Uruguay? You of course can find dozens of third world countries, with dysfunctional tax system. I guess, they are similar studies as can be bought (in dozens) in the country, I live in.
      - wtbob 11y ago
        > So, your claim is, that Buffett does not know how much taxes he pays? No, Prof. Mankiw's claim is that Mr. Buffett did not include all taxes in that statement. > > the United States have a very progressive tax system > Compared to which system? In absolute terms, according to the CBO's figures. The CBO is the Congressional Budget Office, and is widely reputed to be honest.
        PythonicAlpha 11y ago
        "In absolute terms" -- you currently know, that there are more underdeveloped countries in the world than so called "first world" countries? And when you also count in countries like Russia than you get a feeling, what is compared to. Once, the US prided itself to be the most developed nation, today it must compare itself with Uganda and other countries. Compare tax rates of today with those after the 2nd WW -- the era, where the US flourished most. Today, only the banks of the US are flourishing. When you are no banker and earn below 7 figures a year, you should start to think. The sentence about "honesty" I will not comment!

wtbob 11y ago

> Even Buffett spoke out, that his class wins, but it should not (for the good of society). And he said, that something is wrong, when his secretary has to pay a much higher tax-rate as himself. Did you read the article? Mankiw noted that when CBO statistics are used, taking into account all taxation, not just income taxes, the United States have a very progressive tax system.

jazzyk 11y ago
On paper. In reality, there are many loopholes (the more money involved, the more fully legal loopholes)
- wtbob 11y ago
  No, the CBO study looked at the actual dollars coming from people; as Prof. Mankiw notes, while there might be invididual exceptions the overall figures are as stated.
  - PythonicAlpha 11y ago
    So, your claim is, that Buffett does not know how much taxes he pays? If this would be true, I would wonder, how he got all his money in the first place. >the United States have a very progressive tax system Compared to which system? The system of Sweden or of Uruguay? You of course can find dozens of third world countries, with dysfunctional tax system. I guess, they are similar studies as can be bought (in dozens) in the country, I live in.
    - wtbob 11y ago
      > So, your claim is, that Buffett does not know how much taxes he pays? No, Prof. Mankiw's claim is that Mr. Buffett did not include all taxes in that statement. > > the United States have a very progressive tax system > Compared to which system? In absolute terms, according to the CBO's figures. The CBO is the Congressional Budget Office, and is widely reputed to be honest.
      - PythonicAlpha 11y ago
        "In absolute terms" -- you currently know, that there are more underdeveloped countries in the world than so called "first world" countries? And when you also count in countries like Russia than you get a feeling, what is compared to. Once, the US prided itself to be the most developed nation, today it must compare itself with Uganda and other countries. Compare tax rates of today with those after the 2nd WW -- the era, where the US flourished most. Today, only the banks of the US are flourishing. When you are no banker and earn below 7 figures a year, you should start to think. The sentence about "honesty" I will not comment!