Acid Trip
09-30-2011, 04:59 PM
Obama wants to raise taxes on all rich people. Buffett only wants to raise taxes on rich people whose primary source of income is capital gains. Therefore Buffett does not endorse the plan Obama named after him. Too funny!
http://www.realclearpolitics.com/video/2011/09/30/warren_buffett_does_not_endorse_buffett_rule.html
CNBC: "Are you happy that the way it is being described. Is the program that the White House has presented a million dollars and over your program? "
Warren Buffett: "Well, the precise program which will -- I don't know what their program will be. My program would be on the very high incomes that are taxed very low. Not just high incomes. Somebody making $50 million a year playing baseball, his taxes won't change. Make $50 million a year appearing on television, his income won't change. But, if they make a lot of money and pay a very low tax rate, like me, it would be changed by a minimum tax that would only bring them up to what other people pay."
CNBC: "Does that mean you disagree with the president's new jobs proposal which would be paid for by raising taxes on households with incomes of over $250,000."
Buffett: "That's another program that I won't be discussing. My program is to have a tax on ultra-rich people who are very tax rates. Not just all rich people. It would probably apply to 50,000 people in a population of 300 million."
http://www.realclearpolitics.com/video/2011/09/30/warren_buffett_does_not_endorse_buffett_rule.html
CNBC: "Are you happy that the way it is being described. Is the program that the White House has presented a million dollars and over your program? "
Warren Buffett: "Well, the precise program which will -- I don't know what their program will be. My program would be on the very high incomes that are taxed very low. Not just high incomes. Somebody making $50 million a year playing baseball, his taxes won't change. Make $50 million a year appearing on television, his income won't change. But, if they make a lot of money and pay a very low tax rate, like me, it would be changed by a minimum tax that would only bring them up to what other people pay."
CNBC: "Does that mean you disagree with the president's new jobs proposal which would be paid for by raising taxes on households with incomes of over $250,000."
Buffett: "That's another program that I won't be discussing. My program is to have a tax on ultra-rich people who are very tax rates. Not just all rich people. It would probably apply to 50,000 people in a population of 300 million."