Criticism On “Review & Outlook: Warren Buffett’s Tax Dodge”

by admin on June 23, 2012

This article is as specious as is so much else in the editorial section of the WSJ, and the asininity of some of the attached comments is proof if proof was needed. First, the writer has, in my view, intentionally, mixed up the difference between the tax on those earning over $250,000 per year, which the President is asking for who, if they do earn over $250,000 per year probably are millionaires, and those earning over one million per year, who are clearly in that echelon. I have friends who are in that category that hovers around the $250,000 – after deductions, by the way – limit. Which means that only if they earn a dollar more than that $250,00 – again, after all deductions – they will need to pay another 4 to 4.5% on that dollar. They will pay not one dime more in taxes on the $250,000. Those monies were under that amount. ONLY on those dollars over the $250,000. In other words, if one earned $251,000 AFTER deductions, he would then be required to pay the same $35% on those earnings under the 250, and a measly 4.5% more on his/her additional revenues. That, by the way, is what we had to pay when Bill Clinton was president. Remember him? The Democrat who gave us a huge surplus, that his Republican successor destroyed? I have no where near the earnings nor the funds Warren Buffett has, but I too would be happy to pay that additional small percentage of my income to help those Americans less fortunate than I. Why? Because I am a decent American. The ugliness and calumny displayed in this column and in so many of the comments attached, appalls me.

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