If Bill Gates and Warren Buffett make about 5% on dividends and 5% oncapital gains on about $100 billion, did they stop by the White Houseto thank Obama for giving them what could be an extra $1,477,351,600over 2 years, by charging America’s children about $1,600 a piece?

President Obama met with Bill and Melinda Gates and Warren Buffett
in the Oval Office this morning.

...During the visit, they also discussed ideas for growing the economy
and making America more competitive including investment in education
to better prepare the next generation
and investing in innovative areas with opportunity for growth.

USA Today

If Bill Gates and Warren Buffett are worth about $100 billion,
and make about $10 billion per year between long term capitol gaines and dividend interest
could they save about $1,477,351,600 over two years if Obama’s Tax Deal passes?

…….……………………….…………..…Tax Cuts Extended…………….Tax Cuts Expired

Dividends and LT Capital Gains………..$10,000,000,000…………………$10,000,000,000?

Tax Liability……………………………….…..$749,741,250 ……….$1,488,417,050?

Average Tax Rate………………………………..14.99%…………………..……. 29.77%?

$749,741,250 – $1,488,417,050 = about $738,675,800 x 2 years = about $1,477,351,600?

Tax Plan: Tax Cuts Extended vs. Tax Cuts Expired    
Tax Year:  2011
AMT Patch:  AMT Patch in effect

Tax Calculator

 

If about 1,699,000 US households make more than $250,000,
and their portion of the tax cuts cost $120 billion
are America’s elected leaders
about to charge everyone’s kids $1,600 each
to give Bill Gates and Warren Buffett about $1,477 billion?

$120,000,000,000 / 75,000,000 Kids = $1,600 per American Child?