Warren Buffett: Have I mentioned lately that my secretary’s paying a higher tax rate than I am?

posted at 10:22 pm on January 25, 2012 by Allahpundit

A patty-cake interview from ABC on the “Buffett Rule,” which will inevitably become the “Romney Rule” unless Newt pulls this off in Florida:

Buffett’s secretary since 1993, Debbie Bosanek, sat next to her boss just hours after being invited by the president to the State of the Union address, where the president made her the face of tax inequality in America.

Bosanek pays a tax rate of 35.8 percent of income, while Buffett pays a rate at 17.4 percent

He lashed out at assertions from many Republican leaders that the “Buffett rule” is class warfare.

“If this is a war, my side has the nuclear bomb,” Buffett said. “We have K Street. … We have Wall Street. Debbie doesn’t have anybody. I want a government that is responsive to the people who got the short straw in life.”

When they say she pays 35.8 percent of her “income,” I assume they mean “taxable income” (plus payroll taxes), not “adjusted gross income.” At least a dozen readers sent us links to this Forbes piece today alleging that Buffett’s secretary must make somewhere between $200,000 and $500,000 a year if she’s paying a higher effective tax rate than Buffett is. Problem is, the Forbes piece confuses AGI with taxable income in its calculations: Buffett pays an effective rate of 17.4 percent on his taxable income but just 11 percent on his AGI. And, as a fellow Forbes staffer points out in the comments over there, payroll taxes are included in Buffett’s calculations. Since those are capped at $15,300 regardless of income, they end up eating a much bigger proportion of the average working-class taxpayer’s income than a billionaire’s. (Tom Maguire is also skeptical of the Forbes piece.) Guesstimating the secretary’s income from her effective tax rate is beyond my mathematical ability (at least when I’m pressed for time), but there’s an easy way to settle the argument: Now that she’s at the heart of a national policy debate, have her declare her income so we can see just how representative she really is. The One wants to use her as a stand-in for blue-collar workers but there’s at least a chance that she meets the income threshold of “the one percent.” Good lord, let’s hope she does: Warren Buffett of all people can surely afford to pay his secretary lavishly. How about it?

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Hmm, not in the last two weeks or so, doofus.

carbon_footprint on January 25, 2012 at 10:24 PM

I prefer the Jimmy Buffett Rule: margaritas in every blender.

John the Libertarian on January 25, 2012 at 10:25 PM

Let’s see the paperwork.

SouthernGent on January 25, 2012 at 10:26 PM

A patty-cake interview from ABC on the “Buffett Rule,”

1) buffet can send a check to the US treasury whenever he wants, why bring the rest of us into it

2) how coincidental buffett decides to be generous at, er, age 85. i’d be impressed if he was so sacrificial at say, 40.

3) the interviewer on tv was none other than bianna golodryga, the mistress-turned-wife of Peter Orzag, obama’s OMB director.

FAIR AND BALANCED!!!

pamplonajack on January 25, 2012 at 10:26 PM

Just shut up Warren.

AH_C on January 25, 2012 at 10:26 PM

Who is this lady and how has she improved my life?

AeroSpear on January 25, 2012 at 10:26 PM

Hey…Buffet. You know what helps lower your tax rate? Refusing to pay the billions you owe in back taxes.

Now shut up.

HumpBot Salvation on January 25, 2012 at 10:27 PM

Who cares if she’s not bright enough to invest properly to get her tax rate down.

Sheesh. You’d think she’d have picked up some ways to shelter her income from Buffet!

ProfShadow on January 25, 2012 at 10:28 PM

Yeah, Warren, you tool, If Obama gave me billions of dollars by killing a pipeline so my railroad could haul the oil, I’d also keep shucking and jiving for him.

they lie on January 25, 2012 at 10:28 PM

Warren Buffett please tell us what the secretary makes, you are the one who brought her into the fray.

RAGIN CAJUN on January 25, 2012 at 10:28 PM

Buffet certainly has shown his colors lately. Turned out to be quite the crony scumbag. He’ll say or do anything to receive favorable treatment from the White House.

darwin on January 25, 2012 at 10:29 PM

If Buffett gets his income from dividends they have already been taxed at 35% corporate tax.

jukin3 on January 25, 2012 at 10:30 PM

Warren Buffett please tell us what the secretary makes, you are the one who brought her into the fray.

RAGIN CAJUN on January 25, 2012 at 10:28 PM

Drudge is saying she makes between $200,000 and $500,000.

darwin on January 25, 2012 at 10:30 PM

wow, Buffet has a rhetoric! “My side got a nuclear bomb”? I’m telling you man, Mitt Romney is just the worst possible guy for this year’s elections. What happened to deficit reduction? Oh right…the new elected brigade did NOTHING!

Can.I.be.in.the.middle on January 25, 2012 at 10:30 PM

Nothing is stopping the democrats from lowering the tax rate his secretary pays to 15%.

darwin on January 25, 2012 at 10:31 PM

So Warren, go and advocate for a lower tax rate for her. It can be achieved by cutting spending.

galtani on January 25, 2012 at 10:32 PM

Debbie Bosanek vs Joe the Plumber cage match.

Go RBNY on January 25, 2012 at 10:32 PM

I use to have a lot of respect for this man. Not any more.

What is it about people who use free market captialism to get wealthy and then turn into screaming liberals? Why is that?

Kaffa on January 25, 2012 at 10:32 PM

Little Debbie needs her some assets or dividends to get that sweet Buffett tax rate.
That Warren-daddy doesn’t pay income or payroll taxes on a large part of his income is too obvious. Too bad we’re a nation of me-too’s – too stupid to tell Warren to STFU.

bettycooper on January 25, 2012 at 10:33 PM

What? What’s this you say???

cynccook on January 25, 2012 at 10:33 PM

If the secretary is overtaxed, then Buffett should fight to lower her taxes, not raise his. And Buffett is free as the wind to cut a check to the Treasury for all he pleases.

And if her take-home pay is insufficient to pay these extortionist tax rates, the cheap bastard should give her a raise.

matthew8787 on January 25, 2012 at 10:34 PM

I wanna believe!!!

Hey, MBM, you guys went after Joe the Plumber no apparent reason because he had the audacity to stand on his sidewalk while The One was being paraded around his neighborhood. So how about it?

Lance Murdock on January 25, 2012 at 10:35 PM

I think we need to see their tax returns. Why not? Let’s see the written example.

tinkerthinker on January 25, 2012 at 10:36 PM

What is it about people who use free market captialism to get wealthy and then turn into screaming liberals? Why is that?

Kaffa on January 25, 2012 at 10:32 PM

Wouldn’t be so bad if they lived up to their own standard. I keep hearing the Buffet has an army of tax lawyers and is fighting the Gov on billions of back taxes. We never seem to hear anything about this from the media which leads me to believe its probably true.

Go RBNY on January 25, 2012 at 10:36 PM

BREAKING: Presidential candidate Newt Gingrich has called upon Debbie Bosanek to release her tax returns.

In a statement, Gingrich said, “Candidly, I think there’s a fundamental need for solutions for American problems. And frankly, I think it’s time for fundamental change in our honesty to the American people. I think we deserve to know just how much money the alleged ‘secretary’ is making.”

/

KingGold on January 25, 2012 at 10:36 PM

THEN GIVE HER SOME OF YOUR OWN MONEY YOU DAMN FOOL!!!

abobo on January 25, 2012 at 10:36 PM

New saying. 1040er show the world your 1040.

tjexcite on January 25, 2012 at 10:37 PM

Why doesn’t he just pay her in a clever way that she has less taxable “income”?

He’s a b.s. artist and and a fool.

If he wants to pay more taxes, who is stopping him?

Liar.

profitsbeard on January 25, 2012 at 10:38 PM

I kinda feel bad for her unless it was her idea … which I doubt.

darwin on January 25, 2012 at 10:38 PM

Yo Warren, go for the lowest possible personal tax rate possible……….Boom Boom out go the lights!

dmann on January 25, 2012 at 10:38 PM

Look, Buffett’s Burlington Northern and Sante Fe Railroads are already postured to bring the oil from Canada and ND, hence Obama’s Keystone XL Pipeline rejection, and if Buffett’s got to roll out his secretary as a SOTU and media prop, no problema.

My own secretary/AA makes low six figures, when you include salary, benefits, and stock options. I pay her well since who else is going to put up with me, and she’s damned good. I’m sure Buffett’s secretary is on a much higher pay level, not so much for the same reasons as mine, but her tax rate is probably not very relevant to her, in any event.

TXUS on January 25, 2012 at 10:38 PM

If the secretary is overtaxed, then Buffett should fight to lower her taxes, not raise his. And Buffett is free as the wind to cut a check to the Treasury for all he pleases.

And if her take-home pay is insufficient to pay these extortionist tax rates, the cheap bastard should give her a raise.

matthew8787 on January 25, 2012 at 10:34 PM

Right

darwin on January 25, 2012 at 10:39 PM

Without people like Buffet[t]….
There would be no secretaries…

Without Corps or small biz..
There would be no employees..

Lets say we punish the employers…
That should fund Gov.org

Electrongod on January 25, 2012 at 10:39 PM

Remember…

… We CAN’T EVER cut government spending!

Some of the Taxes Americans Pay Each Year

Seven Percent Solution on January 25, 2012 at 10:39 PM

This is the guy whose company owes billionsto the Treasury in back taxes. How did he generate credibility on ‘fairness’?

youknowit on January 25, 2012 at 10:40 PM

Buffet why don’t you start by paying the millions in back taxes you owe, you POS. And what is stopping Buffet from sending more money to the IRS?

Buffet needs to STFU, and take his dementia medication.

Raquel Pinkbullet on January 25, 2012 at 10:41 PM

This is the guy whose company owes billionsto the Treasury in back taxes. How did he generate credibility on ‘fairness’?

youknowit on January 25, 2012 at 10:40 PM

Sounds like a you help me raise taxes and I’ll see the IRS conveniently forgets what you owe kinda thing.

darwin on January 25, 2012 at 10:43 PM

I’m confused, Buffet is saying that the rich should pay a higher tax rate (not lower the tax rate for people like his secretary). So he pulls out this little nugget, “I want a government that is responsive to the people who got the short straw in life.” How exactly is raising the tax rate for the rich going to help people like his secretary?

opustx on January 25, 2012 at 10:43 PM

dmann on January 25, 2012 at 10:38 PM

Did you just date yourself? And me too for asking?

bettycooper on January 25, 2012 at 10:43 PM

The solution is clear.

Buffet, as well as any other person indicating they want to pay more in taxes, should be considered (or as Democrats would put it, deemed) to have given permission to have their wealth above the national mean for their age seized by the state, to be used to pay down the national debt.

It’s a win-win. People who want to pay more taxes, pay more; people who don’t, don’t. Everybody’s happy.

malclave on January 25, 2012 at 10:43 PM

If Buffett gets his income from dividends they have already been taxed at 35% corporate tax.

jukin3 on January 25, 2012 at 10:30 PM

Shhh. You will confuse.

BedBug on January 25, 2012 at 10:46 PM

Not according to WSJ math

Southernblogger on January 25, 2012 at 10:46 PM

Any time someone brings this up just give them this link:

http://abcnews.go.com/blogs/politics/2011/09/fact-check-the-richtheir-secretaries-and-taxes/

And since it’s ABC they can’t go “DEEERR, FAUX NEWS!!! FAUX NEWS!!! DERRRR!!!”.

DethMetalCookieMonst on January 25, 2012 at 10:46 PM

bettycooper on January 25, 2012 at 10:43 PM

Indeed!

dmann on January 25, 2012 at 10:47 PM

Buffet why don’t you start by paying the millions BILLIONS in back taxes you owe, you POS. And what is stopping Buffet from sending more money to the IRS?

Buffet needs to STFU, and take his dementia medication.

Raquel Pinkbullet on January 25, 2012 at 10:41 PM

Corrected myself.

Raquel Pinkbullet on January 25, 2012 at 10:48 PM

1995 Goldwater Institute Dinner honoring President Ronald Reagan: “The dramatic movement of 1995 is an outgrowth of a much earlier crusade that goes back half a century. Barry Goldwater handed the torch to Ronnie, and in turn Ronnie turned that torch over to Newt and the Republican members of Congress to keep that dream alive” (full video here, http://youtu.be/ZG01-G-Os2U)

SWalker on January 25, 2012 at 10:50 PM

“We have K Street. … We have Wall Street.

Is this how he got the Keystone pipeline got derailed?

multiuseless on January 25, 2012 at 10:51 PM

Buffett’s secretary must make somewhere between $200,000 and $500,000 a year

For that kinda dough she had damn well be fetching him coffee every morning.

Hell, for that kinda dough I’d fetch him his coffee…

Bruno Strozek on January 25, 2012 at 10:51 PM

If Buffett gets his income from dividends they have already been taxed at 35% corporate tax.

jukin3 on January 25, 2012 at 10:30 PM
Shhh. You will confuse.

BedBug on January 25, 2012 at 10:46 PM

With who? Romney?

KOOLAID2 on January 25, 2012 at 10:52 PM

Man, I always thought Buffett was a smart dude. How is it he pays a higher tax rate than Oromney? The interviewer should have asked Buffett when was he going to quit evading paying millions he owes in back taxes and quit using his sec. as a prop for Obama’s class warfare charade.

they lie on January 25, 2012 at 10:53 PM

The elephant in the room is that the federal government could tax the racist, bigoted, imperialist, fear-mongering, Koch-puppet, hateful rich at 100% and it still would not cover the profligate spending of the Left (Democrats and Liberal Republicans).

A report from the Internal Revenue Service found that the rich — 8,274 people with incomes of $10 million per year or more — earned a total of $240 billion in 2009.

Even of you confiscated every dime they earned, you would barely have enough money to cover government spending for 24 days.

Of course, about a quarter of that money already goes to the federal government for federal income. So make that 18 days.

This is the part of the “debate” that the Left will never, ever touch. Their “fairness” ideology will not work.

I guess we could also raise the corporate tax rate. But ours is already amongst the highest in the developed world.

visions on January 25, 2012 at 10:53 PM

Buffet is a pathetic old man who hates his life and is trying to buy some fame.

kunegetikos on January 25, 2012 at 10:54 PM

Release your tax records, Debbie.

Poor, poor Debbie just bought a second home. Not that there’s anything wrong with that. I mean, not unless you’re selling yourself as a beleaguered working-class girl who’s getting screwed over by the rich folks. Gee, Debbie wouldn’t be a wealthy, lying democrat shill, would she? Nah. Not Debbie. She’s just a little ‘ole secretary eatin’ her lunch at her desk to save money.

Rational Thought on January 25, 2012 at 10:54 PM

i’m with rush..she needs to release her tax records!

sadsushi on January 25, 2012 at 10:55 PM

visions on January 25, 2012 at 10:53 PM

Game-Set-Match

dmann on January 25, 2012 at 10:55 PM

Warren, write the F***in check to the IRS today!

reddevil on January 25, 2012 at 10:55 PM

I hate Jimmy Buffet. Saw him once. His best song was a cover of Southern Cross. It is to date the worst version I’ve ever heard.

wte9 on January 25, 2012 at 10:56 PM

When will everybody demand the tax returns for BS Buffett and his secretary?
If he is to be at the forefront for the LSM…I want the LSM to decipher how BS Buffett does business, how he pays himself, and the connections he has, and the political decisions that affect his business moves, before and after they are made.
…oh…oh…why not?

KOOLAID2 on January 25, 2012 at 10:57 PM

A report from the Internal Revenue Service found that the rich — 8,274 people with incomes of $10 million per year or more — earned a total of $240 billion in 2009.

Even of you confiscated every dime they earned, you would barely have enough money to cover government spending for 24 days.

This.

Somehow people have to be made aware of this fact.

kunegetikos on January 25, 2012 at 10:57 PM

She should at least get the same treatment that was given to Joe the Plumber in terms of vetting.

Costa on January 25, 2012 at 11:00 PM

It’s disgusting how easily the Democrats can control the narrative. Buffett owes how much in back taxes, yet not a peep. How much does his secretary make? *crickets* If she’s the poster girl for unfair tax rates, then we should know what her tax rate is. How representative is she?

And if he doesn’t pay her well, why aren’t the secular feminists screeching about the cheapskate billionaire who can’t pay his secretary well?

Is anyone asking Buffett about his windfall profit from the axed Keystone deal? Yeah, didn’t think so.

Yet, he sits there with his puppet preaching to us how “unfair” our system is.

conservative pilgrim on January 25, 2012 at 11:00 PM

This.

Somehow people have to be made aware of this fact.

kunegetikos on January 25, 2012 at 10:57 PM

8,274 rich people out of….
180 billion workers…..

Where will big government get the money???
Hmmmm.

Electrongod on January 25, 2012 at 11:01 PM

So Buffet thinks long term capital gains should be taxed at 35.8%?

Even the Chinese communists are not stupid enough to tax long term capital gains at anywhere near that level.

farsighted on January 25, 2012 at 11:02 PM

Any time someone brings this up just give them this link:

http://abcnews.go.com/blogs/politics/2011/09/fact-check-the-richtheir-secretaries-and-taxes/

And since it’s ABC they can’t go “DEEERR, FAUX NEWS!!! FAUX NEWS!!! DERRRR!!!”.

DethMetalCookieMonst on January 25, 2012 at 10:46 PM

Good article, thanks.

slickwillie2001 on January 25, 2012 at 11:04 PM

Electrongod on January 25, 2012 at 11:01 PM

Roll another fattie sparky!

dmann on January 25, 2012 at 11:04 PM

If the secretary is overtaxed, then Buffett should fight to lower her taxes, not raise his. And Buffett is free as the wind to cut a check to the Treasury for all he pleases.

And if her take-home pay is insufficient to pay these extortionist tax rates, the cheap bastard should give her a raise.

matthew8787 on January 25, 2012 at 10:34 PM

I’d be OK if he was just advocating for raising his taxes. Problem is, he is advocating for raising the taxes of a bunch of other people and don’t for a minute think it is just folks in the $1M+ category who will be hit.

AZfederalist on January 25, 2012 at 11:05 PM

Rush said something today that I’ve been thinking for a while. Basically that these ultra rich liberals are just trying to protect their heads from the masses when all hell breaks loose and the riots begin. Think French Revolution… They are playing to the class warfare crowd on the side of the peasants, so the angry peasants don’t come after them. Or so they think.

It’s the only thing that makes sense. Cowardly hypocritical scum.

pannw on January 25, 2012 at 11:09 PM

She must be doing pretty well…

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.

http://www.thesmokinggun.com/buster/warren-buffett-secretary-homes-654812

Oxymoron on January 25, 2012 at 11:12 PM

I don’t care how much money he paid me, I wouldn’t let him use me like some kind of sock puppet on national TV. Have some dignity, woman.

Nom de Boom on January 25, 2012 at 11:16 PM

Oxymoron on January 25, 2012 at 11:12 PM

Off with her head!!!!!!!!!

/OWS

Nom de Boom on January 25, 2012 at 11:17 PM

Actually Allah,
Assuming they’re talking federal tax load exclsively, then the tax table used to compute tax owed for incomes greater than 100k/yr seem to indicate that her income is somewhere between 174,400 and 379,000.

I could have slipped a digit in my haste, though, which would put it at much higher.

Of course, since no one is specifying anything, I wouldn’t put it past the demagoguing Dems to be including Nebraska state taxes as well.

How else does Buffett end up paying more than the usual and customary 15% cap gains load (unless a substantial part of his proceeds are dividends)…

RocketmanBob on January 25, 2012 at 11:25 PM

I’d like to see one of the parties float a new tax on Family Trusts, just to cause heart palpitations in the billionaires that support the slob Buffett’s propaganda.

slickwillie2001 on January 25, 2012 at 11:36 PM

Paging Joe Wilson.

doublezero12 on January 25, 2012 at 11:37 PM

Hey Warren! STFU and just cut a check for what you think your ‘fair share’ should be. At the same time, explain why your lawyers continue over the last several years to argue with the IRS over that ONE BILLION they say your company owes the government.

LYING HYPOCRITE!

GarandFan on January 25, 2012 at 11:41 PM

Mr. Buffett,

I understand your guilt over paying less taxes, but if you want to pay more taxes then go ahead and pay more taxes. Just please stop assuaging your guilt by making me and everyone else pay higher taxes.

Thanks,
L.

Lawrence on January 25, 2012 at 11:43 PM

If she’s a good, common taxpayer, she will have a lot of the usual deductions. Assuming she files MFJ:
$23,000 401k including the over-50 catch-up
$10,000 property tax deduction
$8,000 State tax deduction
$7,000 personal exemption (self plus hubby, kids are gone)
$6,000 pre-tax medical insurance
$10,000 charitable deduction (because she’s nice)
$10,000 Home mortgage interest deduction

That’s over $70,000 without even breaking a sweat. And who knows what else? Yeah, I made these numbers up – how far off can they be? But if she is making over $200,000 per year and has any sense at all, she is going to have over $70,000 in deductions. Using the jim-dandy-handy tax tables for 2010, compliments of IRS.gov, taxes on $130,000 (net taxable) are a bit shy of $25,000. That’s around 12.5%. To get above 15% she’d have to be north of $250,000 with no other significant tax advantages. Minimum.

Think a billionaire’s secretary might pull that?

ss396 on January 25, 2012 at 11:50 PM

How is it that someone making between $200,000-$500,000 has gotten the short straw? And isn’t that the range that makes her “wealthy” and therefore isn’t Buffet calling for her taxes to be raised also?

Flange on January 25, 2012 at 11:50 PM

Bosanek pays a tax rate of 35.8 percent of income, while Buffett pays a rate at 17.4 percent…

So pay the higher rate, ya moron. Or shut your mouth.

TX-96 on January 25, 2012 at 11:56 PM

As far as the secretary goes, looks like she is eating pretty good

As far as Buffett goes, the fact that he has more money than he needs does not prove that another man, with more drive and talent, does not need all his money to achieve his goals. A highly intelligent and talented man should not have to prove to Buffet that his goals are more valid than the goals Buffett has pontificated. No man should have to search a list of worthy goals (i.e. tax dodges) at an IRS website to see if the State will permit him to follow his dreams

Meanwhile Buffet, Gates, Kaiser (of Solyndra fame) et all use their almighty tax dodges, foundations and other politically correct entities to keep their greedy hands on their own money

Buffet wants to make sure the self starter, the self financed have a disadvantage against the man who will take the largess of investors and the noblesse oblige of the Club to achieve his dreams in return for sharing control with a board of Buffets

All in the fraudulent name of egalitarianism

If I had a hundred million, I would build a factory, and I would not staff it woth the sons of the nobility

entagor on January 26, 2012 at 12:07 AM

http://tusb.stanford.edu/2007/07/warren_buffet_has_a_lower_tax.html

It has a link from The Times (UK) but I think that article is behind a paywall, so I’m unable to verify the excerpt in the Standford blog. For quick reference, it says she makes $60K.

John Kettlewell on January 26, 2012 at 12:12 AM

not sure why I add that extra D, but I do sometimes, usually catch it though.

John Kettlewell on January 26, 2012 at 12:14 AM

Shhh. You will confuse.

BedBug on January 25, 2012 at 10:46 PM

By all means shout it from the mountain top it will destroy the silly meme that he pays less than his secretary.

chemman on January 26, 2012 at 12:23 AM

Hey Buh-fay, you sure sound a lot like Obutthead. You both have way too much to say about what should be done with other people’s money.

Look, if you’re having a hard time handling all those billions, well, there are millions of us out here who’d gladly take it all off your hands and deal with it for you.

So put up or shut up–either write your check to the Treasury in whatever amount you think will alleviate your guilty conscience or STFU. Ahh, either way, just STFU cuz I’m sick of hearing you twist the truth.

stukinIL4now on January 26, 2012 at 12:36 AM

If the slob and his secretary were Republicans, their tax returns would have already been leaked to al New York Times or some other such rag.

slickwillie2001 on January 26, 2012 at 12:52 AM

So his idea is to raise his taxes? I’d propose lowering hers…

swash_plate on January 26, 2012 at 12:55 AM

I don’t think Trumps secretary’s look like Buffet’s…here

right2bright on January 26, 2012 at 12:57 AM

And when she starts living on her investments she’ll pay a lower rate too.

So, how many times paying taxes on the same money will it take to satisfy this President? Double, triple, quadruple, quintuple?

Isn’t being forced to pay double tax the very definition of unfair?

What keeps the government from being greedy, oppressive?

Speakup on January 26, 2012 at 1:03 AM

I prefer the Jimmy Buffett Rule: margaritas in every blender.

John the Libertarian on January 25, 2012 at 10:25 PM

Yes, wise words and words to live by.

bayam on January 26, 2012 at 1:16 AM

I look at the photo at the top of the post and all I can see are two slobs.

Sherman1864 on January 26, 2012 at 1:16 AM

I use to have a lot of respect for this man. Not any more.

What is it about people who use free market captialism to get wealthy and then turn into screaming liberals? Why is that?

Kaffa on January 25, 2012 at 10:32 PM

As Rush said today, these people are liberals in public and do what they want in private. The public face is just a front to keep the people with pitchforks away.

Should I even bother watching this video to see if the “journalist” asked Buffett about the monetary benefits he will receive from the Keystone rejection via his ownership of Burlington Northern?

NealK on January 26, 2012 at 1:46 AM

Has anyone noticed that Warren Buffett only likes to be interviewed by busty women? Becky Quick, Lez Clayman and now Brianna Golodryga of ABC.

Let’s not forget that Golodryga is engaged to Peter Orzag, Obama’s former OMB director. There was no chance in hell that she would send a tough question his way, not that we should have expected such a thing from the weekend co-anchor of Good Morning America.

NealK on January 26, 2012 at 1:52 AM

This is the guy whose company owes billionsto the Treasury in back taxes. How did he generate credibility on ‘fairness’?

youknowit

More importantly, how come none of this was pointed out in the Republican response last night?

xblade on January 26, 2012 at 3:25 AM

It is a big fat lie and he knows it. Buffet income is based upon 3 main things.

First he takes a nominal salary because he is the majority stake holder in Berkshire Hathaway. So the less money he takes out the more money that stays in the company and the richer he gets by not paying taxes.

Second, he receives dividend income. Dividend income is profit that has already been taxed at the federal corporate tax rate and any state corporate tax rates, and then he is taxed when it is distributed to investors. So it is taxed at least 3 times by more than 50%.

Finally, he gets income from capital gains. This money is money he earned from investments he made from his salary or his dividends. So it has already been taxed above as salary or dividends.

He knows these things. He is despicable.

ReformedDeceptiCon on January 26, 2012 at 4:35 AM

Clearly, Debbie Bosanek needs to release the last 12 years of income tax records. She thrust herself into the nation conversation on this, so time to get in the game…

HornHiAceDeuce on January 26, 2012 at 5:53 AM

Time for the secretary to release HER taxes… that will end this charade once and for all…

Khun Joe on January 26, 2012 at 6:03 AM

This charade does raise an important point that is true: higher income taxpayers whose income is principally wages or income from self-employment, and who do not have children as dependents, get absolutely hammered under our tax code. The complexity of the Code results from the social engineering and election year gimmickery of middle class give aways, so we have the Child Tax Credit, Additional Child Tax Credit, Earned Income Tax Credit (which pays out at over $46,000 per year nowadays), Education Credits, Child and Dependent Care Credits. This Secretary doesn’t qualify for all the gimmicky credits they have put in to ease the tax burden. In addition she is paying FICA (payroll) taxes to fund social security and medicare taxes which only applies to wage income. This is capped for social security but not for medicare. The effective rate is 15.3% when the employer’s matching tax is figured in until the cap on Social Security wages is reached which last year was $106,800.

Ted Torgerson on January 26, 2012 at 6:10 AM

God, why are Republicans soooo stupid? It is so very simple to point out that even if you took all the rich people’s money and possessions, you would not get enough to cover government spending for even one year.

We don’t have a tax problem, we have a spending problem.

Odysseus on January 26, 2012 at 7:02 AM

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