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**bixlewlyimila** · 09-03-2011, 04:42 AM

I wish someone could find a reliable poll among the rich to see how they felt about extending their tax cuts. I know several of the wealthy have said the idea was ridiculous.

Warren Buffet's comment was that there is something wrong with a system where his secretary's taxes are higher than his.

I'm quite certain that the megarich have no problem with higher taxes. If you taxed Buffett at 75% with no deductions he'd still have more money than he could imagine spending. Tax a mere millionaire at 35% and he's got some choices to make.

I bet you that if you asked Buffett if he'd favor a special billionaires tax of 50%, he'd object. Simply because the revenue would be negligible because there aren't enough billionaires. The only way to get the big money is to tax the rich making $250,000 or more, because that $250,000-$5 million range is a pretty large group. Lots of money there. Not so much above $5 million.

09-03-2011, 04:42 AM	#25
bixlewlyimila Join Date Oct 2005 Posts 367 Senior Member	I wish someone could find a reliable poll among the rich to see how they felt about extending their tax cuts. I know several of the wealthy have said the idea was ridiculous. Warren Buffet's comment was that there is something wrong with a system where his secretary's taxes are higher than his. I'm quite certain that the megarich have no problem with higher taxes. If you taxed Buffett at 75% with no deductions he'd still have more money than he could imagine spending. Tax a mere millionaire at 35% and he's got some choices to make. I bet you that if you asked Buffett if he'd favor a special billionaires tax of 50%, he'd object. Simply because the revenue would be negligible because there aren't enough billionaires. The only way to get the big money is to tax the rich making $250,000 or more, because that $250,000-$5 million range is a pretty large group. Lots of money there. Not so much above $5 million.
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