OK... One more case of "The Big Conspiracy" that infests this board. When it's unexplained... when the obvious doesn't fit the agenda... when all else fails... Blame "The Big Conspiracy"!
LOL...first time I heard that, Box. I have no idea what it has to do with this thread. Is it anything like Hillary's "vast right wing conspiracy"?
LOL...first time I heard that, Box. I have no idea what it has to do with this thread. Is it anything like Hillary's "vast right wing conspiracy"?
It's similar... it's this board's Vast Universal Conspiracy... ~ It's usually presented when Bumble, Shadow or even Cicero have run out of logical reasons for an event... ~ The board will become eerily quiet... just the sound of Buddhist chants in the background... ~ Shadow will say something like... "it doesn't matter if your Republican or Democrat... they are all the same" ~ Bumble will softly toll a gong, as he proclaims another "board fact" (not an actual fact, but an invented one, that is accepted as if it were fact, even though everyone knows it's bogus. Kind of a "save face" fact) ~ Cicero, by this time is all warmed up and ready for (yet another) description of some lame Al Qaeda terrorist, (usually some where in Yemen) as an armed predator drone flies up his butt. (Cic will be sweating by the time he's finished the story and will need to stop for some water before he can continue!)
When a fact is incontinent... Mention the "Big Conspiracy"! When a Right Wing myth is proven to be false... call on the "Big Conspiracy"! When a Conservative poster is caught actually believing FoxSnooze and everyone is laughing... Blame the "Big Conspiracy"! When a Right Wing Conservative Politician is caught in the men's room with yet another gay staffer... cite the the "Big Conspiracy"!
The "Big Conspiracy"! Not true, not fiction, not visible or written down in any text... but they all know it's absolutely true!
Buffet, one of the richest men in the world, stated the fact that he pays less than any one working in his office... Buffet pays 17%, his office staff pays as much as 30%.
The tax system is slanted in favor of the richest Americans, and puts the working men and women of this country paying a higher rate... in effect... they are paying their taxes, plus Buffets tax as well.
If you think that this system is fair... then do nothing. Pay your taxes, plus add some more to make up for the rich underpaying their tax.
Buffet (and McConnell) are paying less than their fair share and Buffet wants the system changed to reflect this unfair practice. This issue isn't about Warren paying more... it's about all Americans paying their fair share.
Warren Buffett's Secretary Likely Makes Between $200,000 And $500,000/Year
Bosanek’s prominent role in Obama’s “fairness” campaign piqued my curiosity, and I imagine the curiosity of others. How much does her boss pay this downtrodden woman? So far, no one has volunteered this information.
We can get an approximate answer by consulting IRS data on tax rates by adjusted gross income, which would approximate her salary, assuming she does not have significant dividend, interest or capital-gains income (like her boss). I assume Buffet keeps her too busy for her to hold a second job. I also do not know if she is married and filing jointly. If so, it is deceptive for Obama to use her as an example. The higher rate may be due to her husband’s income. So I assume the tax rate Obama refers to is from her own earnings.
Insofar as Buffet (like Mitt Romney) earns income primarily from capital gains, which are taxed at 15 percent (and according to Obama need to be raised for reasons of fairness), we need to determine how much income a taxpayer like Bosanek must earn in order to pay an average tax rate above fifteen percent. This is easy to do.
The IRS publishes detailed tax tables by income level. The latest results are for 2009. They show that taxpayers earning an adjusted gross income between $100,000 and $200,000 pay an average rate of twelve percent. This is below Buffet’s rate; so she must earn more than that. Taxpayers earning adjusted gross incomes of $200,000 to $500,000, pay an average tax rate of nineteen percent. Therefore Buffet must pay Debbie Bosanke a salary above two hundred thousand.
We must wait for further details to learn how much more than $200,000 she earns. The tax tables tell us about average ranges. For all we know she earns closer to a half million each year, but that is pure speculation..........................>>>>......................>>>>.........................http://www.forbes.com/sites/pa.....0000-and-500000year/
Awwww....Poor, Poor, Poor, Warren Buffett secretary. I can't believe she hasn't quit working at such a slave wage.
A newspaper is a device for making the ignorant more ignorant and the crazy crazier. ~ H.L. Mencken Democracy is the theory that the common people know what they want, and deserve to get it good and hard. ~ H. L. Mencken The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary. ~H. L. Mencken
Despite Unfair Tax Burden, Warren Buffett's Secretary Was Just Able To Buy A Second Home
Despite a heavy tax burden, Warren Buffett’s secretary last year was able to purchase a second home in Arizona, a residence complete with a swimming pool and a “professional PGA putting green,” according to real estate records.
Debra Bosanek, 55, and her husband Gerald bought the 2100-square-foot home in Surprise, a city outside Phoenix. The Bosaneks paid $144,000 for the four-bedroom, two-and-a-half bath property (the purchase was financed, in part, by a $115,200 mortgage).
The principal Bosanek residence is in Bellevue, Nebraska, several miles from Buffett’s corporate headquarters in Omaha. The couple’s 2568-square-foot home, built in 2000, also has four bedrooms and two-and-a-half baths. But the modest property, which Sarpy County assessors last year valued at $217,716, offers no outdoor amenities for swimmers or golfers.
Bosanek, who last night attended the State of the Union speech, has become the face of President Barack Obama’s so-called Buffett Rule, which contends that the secretary of a wealthy individual should not pay a higher tax rate than their boss.
A newspaper is a device for making the ignorant more ignorant and the crazy crazier. ~ H.L. Mencken Democracy is the theory that the common people know what they want, and deserve to get it good and hard. ~ H. L. Mencken The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary. ~H. L. Mencken
You can get a lot of house for the money in AZ now. Plus the property taxes on that house will be about 800 bucks. In Schenectady that would equate to $8000. Pretty fair and equitable, isn't it?
The bottom line is that if these folks spent their money on mutual funds then their tax rate would be lower. Now, when they SELL either of these two homes at a magnificent profit ( I am expecting both homes they have will eventually sell for double or triple the assessed value or purchase price they paid) someday, that money will show up on their return WITH NO TAX OWED AT ALL!!!! (HORRRRRRIBLE AND UNFAIR!!!) If they sell both in one year and have high incomes then you can bet that their Million+ income will be taxed that year at a VERY LOW rate! Possible 4 or 5% (OMG MAKE A NEW LAW CALLED THE DEBBIE LAW)
THEN WHAT!?!?!?!?!?!?!
Ahhh, the vagaries of the tax code. No two returns are alike, yet because of one guy or a handful (anyone know the story behind the ATM) EVERYONE'S TAXES GO UP!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
he must think all secretaries make that as a salary....WTF does he even have business talking about what the rest of us do....SHAME ON HIM.....really really really shame on Buffet and Buddies.......
...you are a product of your environment, your environment is a product of your priorities, your priorities are a product of you......
The replacement of morality and conscience with law produces a deadly paradox.
STOP BEING GOOD DEMOCRATS---STOP BEING GOOD REPUBLICANS--START BEING GOOD AMERICANS
BUFFETT’S BANK OF AMERICA WARREN BUFFETT’S NET WORTH JUMPS $154M THANKS TO MORTGAGE SETTLEMENT BY: Patrick Howley - February 10, 2012 12:50 pm
Warren Buffett’s stake in Bank of America Corp. increased in value by $154 million after President Obama and the U.S. Justice Department announced a $25 billion foreclosure abuse settlement with the five largest U.S. banks Thursday, records show.
Buffett invested $5 billion in Bank of America (BofA) on Aug. 25, 2011. As part of his investment deal, Buffett gained warrants that allow him to buy 700 million shares of Bank of America stock at a strike price of $7.14 a share. However, on Dec. 19, 2011, it was reported that Buffett was $1.5 billion underwater on his stock warrants, with shares of BofA stock trading at $4.94. But on Thursday, after President Obama personally announced the details of the settlement, BofA stock closed at $8.13 a share. The stock opened Friday morning at $8.31 and reached as high as $8.35 a share.
If Buffett had exercised his warrants Friday morning, he would have made $847 million. $154 million of that profit would have been related to the foreclosure deal..........................>>>>.....................>>>>....................................................http://freebeacon.com/warren-buffetts-net-worth-jumps-154m-thanks-to-mortgage-settlement/
"We're going to close the unproductive tax loopholes that have allowed some of the truly wealthy to avoid paying their fair share. In theory, some of those loopholes were understandable, but in practice they sometimes made it possible for millionaires to pay nothing, while a bus driver was paying 10 percent of his salary, and that's crazy. It's time we stopped it."
That was the president, making the case for why our tax code—riddled with unfair breaks, loopholes, and subsidies that disproportionately benefit the wealthy—requires fundamental reform that ensures the wealthy pay their fair share."
But it wasn’t President Barack Obama. It was President Ronald Reagan. In 1985.
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