Green Room

NEA “Disappears” Warren Buffett’s Secretary

posted at 2:03 pm on April 10, 2012 by

Three Maryland public school workers (two teachers, one administrator) won shares of the Mega Millions jackpot. The Associated Press reports they will each receive a lump sum payment of $35 million after taxes.

When I read the news my original plan was to revisit the lead story from NEA’s March 30 Federal Legislative Update. You remember it:

WHAT DO EDUCATION SUPPORT PROFESSIONALS AND WARREN BUFFET’S (sic) SECRETARY HAVE IN COMMON?

They pay more in taxes than billionaire investor Warren Buffet! Our nation’s tax laws are out of whack. It is not fair that a bus driver, a custodian, and Warren Buffet’s own secretary pay more in taxes than our nation’s richest individuals.

I was going to headline the post: “What Do Three Maryland School Employees and Warren Buffett Have in Common?”

But when I checked the link to the NEA update, I found someone had run off with Warren Buffet’s (sic) secretary. The entire item has been excised from the March 30 update. It appears nowhere else on the NEA web site. Just so you don’t think I was hallucinating when I read it, it still exists as a re-post by a couple of NEA affiliates.

I applaud NEA for removing the inaccurate item, but common Internet courtesy requires some acknowledgment that a significant change to the original post has been made.

In any event, congratulations to the three jackpot winners for joining the 1%. Invest wisely, especially since you will lose 30% of the returns to the Buffett Rule.

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It is not fair that a bus driver, a custodian, and Warren Buffet’s own secretary pay more in taxes than our nation’s richest individuals.

Indoctrination… Seems to work.

WeekendAtBernankes on April 10, 2012 at 2:33 PM

It’s good stuff how that crackheaded McDonalds lady had everyone played.

Spliff Menendez on April 10, 2012 at 2:44 PM

Despite Unfair Tax Burden, Warren Buffett’s Secretary Was Just Able To Buy A Second Home

Despite a “heavy tax burden” that is allegedly more than that paid by her boss, 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.

Resist We Much on April 10, 2012 at 2:45 PM

Lotto news or not the claim is still untrue.

Buffet’s dividend income is after-tax money, corporate income that has already been taxed at the 35% Fed corp tax level and 7.81% Nebraska corp tax. His dividend income is then taxed with a 15% Fed dividend tax. If we add the 42.81% total corp taxes back, he’s paying an effective 58% rate plus any state dividend taxes.

There is no combination of Fed and State income taxes that reach 58% on a salary.

chimney sweep on April 10, 2012 at 3:45 PM

Hey, war is peace, man.

J.E. Dyer on April 10, 2012 at 3:45 PM

There is no combination of Fed and State income taxes that reach 58% on a salary.

chimney sweep on April 10, 2012 at 3:45 PM

True. Federal, state, and city taxes combined impose up to a 56.59% burden on residents of New York City. But the highest rates apply to incomes like Warren Buffett’s. His secretary wouldn’t pay his rates.

J.E. Dyer on April 10, 2012 at 3:58 PM

They pay more in taxes than billionaire investor Warren Buffet!

The basic point really is that this meme is just an outright lie. Buffet does not pay less taxes than his secretary. If you only look at federal income taxes, you might be able to say he pays a lower percentage, but in actual dollars paid, the rich pay far far more taxes than anyone else. Simple indisputable fact straight from the IRS historical tax tables.
Prove me wrong obamatron libtards.

dentarthurdent on April 10, 2012 at 5:27 PM

Prove me wrong obamatron libtards.

dentarthurdent on April 10, 2012 at 5:27 PM

They can’t.

BigAlSouth on April 10, 2012 at 6:23 PM

Cut a check already, Warren!

squint on April 10, 2012 at 6:33 PM

That is 30% of investment return that would have directly or indirectly gone to creating or saving jobs, but instead is going directly into the governments redistribution pot to be given to those who earned nothing, did not and will not create a job, or even take one, and for all it is worth, that 39% did not and will not be used to pay down the debt, nor will it reduce the amount borrowed since as we know, they never see what is in their pocket before they pass bills to borrow more.

Franklyn on April 10, 2012 at 7:18 PM

At what point will we say that our federal debt is not going to be solved by taking all the money from “the rich”, and expect everyone to be part of the solution?

Greece is calling on line 1?? Whatever for???

KMC1 on April 10, 2012 at 8:50 PM