Comments on: Warren Buffet: good investor, poor public policy http://www.rocketfinance.net/2007/10/31/warren-buffet-good-investor-poor-public-policy/ Finance is not rocket science, unless it is government finance. Sat, 05 Jun 2010 22:48:26 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: rocketchttp://www.rocketfinance.net/2007/10/31/warren-buffet-good-investor-poor-public-policy/comment-page-1/#comment-141 rocketc Wed, 31 Oct 2007 17:35:21 +0000 http://www.rocketfinance.net/2007/10/31/warren-buffet-good-investor-poor-public-policy/#comment-141 I think a flat tax solves almost all of these problems, but liberals (including some on the Republican side) in our country would rather control behavior and cater to special interests through the use of tax incentives and deductions.I do not believe that it is fair for 1% of the population to pay 39% of the taxes. I say this as one who is in the lowest tax bracket and who takes advantage of a great many deductions. I pay very little tax - except whenever I buy something.I understand that the fewer taxes paid by the wealthy and big corporations, the more money they will have to spend in our economy, to give away, or to hire and pay employees. I think a flat tax solves almost all of these problems, but liberals (including some on the Republican side) in our country would rather control behavior and cater to special interests through the use of tax incentives and deductions.

I do not believe that it is fair for 1% of the population to pay 39% of the taxes. I say this as one who is in the lowest tax bracket and who takes advantage of a great many deductions. I pay very little tax – except whenever I buy something.

I understand that the fewer taxes paid by the wealthy and big corporations, the more money they will have to spend in our economy, to give away, or to hire and pay employees.

]]> By: plonkeehttp://www.rocketfinance.net/2007/10/31/warren-buffet-good-investor-poor-public-policy/comment-page-1/#comment-139 plonkee Wed, 31 Oct 2007 16:45:11 +0000 http://www.rocketfinance.net/2007/10/31/warren-buffet-good-investor-poor-public-policy/#comment-139 No, he's paying his fair share when he pays the same proportion as other people. Of course the extremely wealthy pay the most tax, they have the most wealth. I think there's some Pareto 80/20 type rule when considering wealth, not these exact numbers, but 80% of the wealth is held by 20% of the people, in which case I'd expect that 20% to (on average) pay 80% of the taxes (if not more). No, he’s paying his fair share when he pays the same proportion as other people. Of course the extremely wealthy pay the most tax, they have the most wealth. I think there’s some Pareto 80/20 type rule when considering wealth, not these exact numbers, but 80% of the wealth is held by 20% of the people, in which case I’d expect that 20% to (on average) pay 80% of the taxes (if not more).

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