Buffett said his taxable income for 2010 was $39.8 million,
making his tax rate about 17%.
Why do most who argue the relatively wealthy pay more taxes than most
as a percentage of income,
exclude Social Security, Medicare and other federal, state and local income,
sales, property, toll road, license, permit, communications,
entertainment, fuel, transportation and utility ect…taxes?
That’s compared with most Americans
who have a tax rate in the 30% range, he said.
Did corruption of the political, capitalist and information systems
negatively influence economic performance and consumer behavior
through legislation, budget appropriation, regulation and taxation,
to benefit a few at the expense of many?
Buffett also noted that he paid $15,300 in payroll taxes for the year.
At what point do those who promote and/or vote for ever increasing sums
of government backed debt to finance what may not be necessities
bequeath an unsustainable burden
on the future incomes of the community’s young?
Warren Buffett said he only paid $6.9 million in federal income taxes
on his $62.9 million in adjusted gross income in 2010