One of the many false talking points of the Obama administration is that a rich man like Warren Buffett should not be paying a lower tax rate than his secretary. But anyone whose earnings come from capital gains usually...
One of the many false talking points of the Obama administration is that a rich man like Warren Buffett should not be paying a lower tax rate than his secretary. But anyone whose earnings come from capital gains usually pays a lower tax rate. How are capital gains different from ordinary income? Ordinary income is usually guaranteed. Show More Summary
When you hear about billionaire Warren Buffett paying a lower effective tax rate than his secretary, you’re hearing long term capital gains at work. The tax code smiles favorably on investment and the tax rate on capital gains of assets held for more than one year is much lower than ordinary income tax rates. If [...]Show More Summary
President Barack Obama calls his proposed tax on millionaires the “Buffett rule,” based on financier Warren Buffett’s claim that he pays a lower tax rate than his secretary. Obama claims that the “Buffett rule” asks millionaires to “do...Show More Summary
President Obama has a little bit of a quandary on his hands. For the last few months he has toured the country with a vendetta against the rich. He believes they are not paying their fair share of taxes. He has even been touting the so called “Buffett Rule” due to the fact that billionaire [...]Show More Summary
Poor man candidate Barack Obama may have fallen out of the one percent, but at least he's paying a lower federal income tax rate than his secretary, like his good pal Warren Buffett. [NYT] ... More »
Source: Center for Budget and Policy Priorities This one's going to confuse conservatives: The White House said Friday that President Obama has a lower effective tax rate than his secretary. "The president's secretary pays a slightly...Show More Summary
One would think that after all Obama’s whining about the Buffett rule and class war, Obama would make sure that he paid a higher net tax rate than his secretary (ABC News) President Obama today released his 2011 federal income tax, with he and his wife reporting an adjusted gross income of $789,674. Show More Summary
Fox News, fair and balanced, reports that with today’s release of the Obamas’ 2011 tax return, the White House has acknowledged that Barack and Michelle Obama paid taxes at a lower rate than the president’s secretary. Of course, like Warren Buffett, the Obamas could have paid more into the US Treasury had they chosen to. [...]
President Obama has been making a lot of hay about the Buffett Rule. Named after billionaire Warren Buffett, who has famously pointed out that he pays a lower tax rate than his secretary, the rule would set a baseline tax rate of 30 percent for yearly incomes over $1 million. Show More Summary
President Barack Obama's secretary paid taxes at a higher rate than he did in 2011 despite having a "substantially lower income," the White House said Friday, casting the disparity as an argument for Congress to adopt the so-called "Buffett Rule." "The president's secretary pays a slightly higher rate this year than the president on her [...]
President Obama paid a lower federal tax rate in 2011 than his secretary, Anita Decker Breckenridge, according to ABC News. But the president's big political push for the "Buffett Rule" wouldn't apply to his situation. Obama released his 2011 federal tax returns earlier today. Show More Summary
DID OBAMA PAY A lower tax rate than his secretary?
The "Buffett rule"–as in Warren Buffett–suggests that super-rich should pay a tax rate comparable to middle-income earners. In Buffett's case, this grew out of his observation that he pays a lower tax rate than his secretary. Seems straightforward enough–and the … Continue reading ?
Outspoken New Jersey Governor Chris Christie slammed Warren Buffet in a recent interview. Speaking to CNN’s Pierce Morgan, Christie was asked about Warren Buffet’s claim that he paid a lower tax rate than his secretary and that he wants to be taxed at a higher rate. Christie responded with, “He should just write [the [...]Show More Summary
By David Boaz President Obama says the rich should pay higher tax rates, citing billionaire Warren Buffett, who says he pays a lower tax rate than his secretary. Various analysts have pointed out that Buffett takes very little salary and gets most of his income in the form of dividends and capital gains, which reflect income that was [...]Show More Summary