Anonymous
Anonymous asked in Politics & GovernmentPolitics · 8 years ago

Is Warren Buffett a hypocrite?

I think everyone knows now that he pays a lower rate of income tax than his secretary, and he wants all the rich people to pay MORE.

Um, but wait a minute...

The reason Buffet gets only $100,000 in salary is because he would rather be paid in benefits packages heavy on the stock options.

Why?

Because when you cash in the stock, you pay a capital gain rate.

If you raise taxes on the rich to 70%, Warren Buffett will still pay only 17% because he's not stupid. He'll avoid the income tax rate by taking stock gains and the gains rate.

(The only person who will suffer is his poor secretary because her taxes would go up and he'll NEVER give her stock options.)

18 Answers

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  • Anonymous
    8 years ago
    Favorite Answer

    That was Buffet's point. The income tax laws favor the rich because the majority of their earnings come in the form of capital gains. Either modify the tax code to increase the income tax on the richest 10%, or modify the capital gains tax to require a larger percentage tax burden.

  • 8 years ago

    'If you raise taxes on the rich to 70%, Warren Buffett will still pay only 17% because he's not stupid. He'll avoid the income tax rate by taking stock gains and the gains rate."

    So you're saying all the rich republicans who oppose this are stupid? Since they get around the tax by taking stock gains and gains rate?

    "(The only person who will suffer is his poor secretary because her taxes would go up and he'll NEVER give her stock options.)"<- if that's the only person it will hurt, why not try it?

    I read Benjamin Grahams book and they had different tax rates than just 17% for stocks, but I don't have the book on me so I can't recall on it.

    It makes sense to me, then again I'm not republican or privileged and I'm educated in science and math, so this is probably like reading chinese to a lot of people.

  • Tootoy
    Lv 7
    8 years ago

    Warren Buffet meant what he said. And he said it a few times. You're right - he pays the same percentage as a secretary pays now, and he wants that to change. Do you have a brain?

  • 8 years ago

    No one can be blamed for using tax law to their advantage. He does donate a ton of money to good causes through the Bill and Melinda Gates Foundation and uses tax law to his advantage there as well. But, hey, he does a lot of social good.

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  • Alice
    Lv 7
    8 years ago

    If Warren Buffett is all that smart, and of course he is, then we should be taking his very good advice.

  • 8 years ago

    For every brown nose liberal hypocrite there are 100 conservative ones that preach they love G-d and Country first. Seriously, how can you all sing the National Anthem and not despise yourselves

  • Anonymous
    8 years ago

    he should immediately donate one million dollars to the American Jobs Act.

  • Anonymous
    8 years ago

    So, you're saying corporate welfare is an evil thing that turns men against their own values just to get richer?

    I couldn't agree more.

    Some of you conservatives would make wonderful socialists (like me) if you analyzed what you actually said.

  • Daniel
    Lv 7
    8 years ago

    He said he is willing to pay more but he is not stupid he will pay only what he owes until the rules are changed.

  • 8 years ago

    Absolutely correct

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