Posted by Dan in North Houston on February 14, 2012 at 04:58:05 from (38.100.70.66):
In Reply to: Taxes posted by oldtanker on February 13, 2012 at 23:00:56:
All sorts of way to spin this story. Warren Buffet is a rational person - he avoids paying taxes that he doesn't need to pay, just like the rest of us. Tax avoidance is common sense. Tax evasion is a crime. He has enough money that he doesn't need a salary, he can make ends meet from his capital gains. And by not paying himself a salary, he gets invaluable public relations benefits by being able to claim that he is looking out for the interests of his Berkshire Hathaway shareholders (which he does). There is nothing to prevent Warren from donating his fortune to the government, if he thinks it will do more good if they had it all.
When I retire, hopefully my investments will have some capital gains so that I will have some income to supplement social security. And I'm counting on that income to be taxed at the lower 15% rate. I already paid the higher tax rate when I earned that money as wages. The lower capital gains tax is my reward for investing that money so that I have something to retire on, instead of being broke and totally dependant on the government to take care of me in my old age. Think this through, you guys. If there is no incentive to work and save for the future, nobody will. It's bad enough as it is, but it could be a lot worse.
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