Malkin on Buffett tax: Why doesn’t Warren Buffett start with paying his back taxes?

There’s a new tax that Obama is proposing that is nothing more than a punitive tax on the wealthy. Michelle Malkin weighs in on this, suggesting that instead of coming up with a new tax that Warren Buffett just pay the billion in back taxes that he owes:



Of course this won’t fly in Congress. It’s just more desperate 2012 campaign tactics as Obama tries to run against Congress and blame them for his failed economy.

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Anonymous
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Anonymous

Gosh, I do so admire that girl – smart, principled, with the heart of a lion. In another time and place, I’ve no doubt she would have been a Philippino Scout. While in basic in ’69 one of my drill sergeants was a small, wirey, ex Philippino Scout, unusual for a D.S. in that he was rather quiet, yet he had that mysterious, indefinable quality that I’ve never forgotten – a kind of authenticity that drew me like a magnet. I would consider it an honor to serve under such a man. Somehow I sense those same qualities in Michelle. For such a little package, she towers above most men. May God look after her.

Colleen Porter
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Colleen Porter

Hear Berkshire Hathaway Blues on iTunes and Amazon. Also on TheColleenPorterShow on you tube. Warren likes my song.

Jimbo
Member
Jimbo

buffet is just another nobama kiss ass. MM is the best journalist out there bar none.

Anonymous
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Anonymous

I’ve always thought that a man of his wealth would be more humble than bloviating about how the rich should pay more taxes. I agree with Michelle, maybe he should pay off the debt, indeed.

stevenbiot
Member
stevenbiot

There has to be something in it for Buffett, for him to stab the capitalist system that has allowed him to achieve such a great status in the back, and cheerlead for the other side. Follow the money, and you will see why Warren is so outspoken about being a traitor.

Anonymous
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Anonymous

of course the good ole andy griffith of finanance just aw shucksin us while some where theres a pile of money changin hands…….didn’t he just make a killing a couple days ago and immelt was somehow involved

Jason Newman
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Jason Newman

GE (Immmelt) is another example of kicking over the trough when you are done gorging yourself, so no one else can have a chance.

stevenbiot
Member
stevenbiot

Crony capitalism sure is the path to success under this administration.

Jason Newman
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Jason Newman

Warren Buffet is a classic case of pulling the ladder up behind himself. Once you understand that concept, then it all makes sense. It is the same reason that Walmart backed Obamacare. Walmart is not worried about Target. Walmart is worried about the next “Walmart” coming out from the weeds and killing them. So, they back legislation that makes it almost impossible for a small business to survive much less grow and compete and…you know the rest of the story. Warren is also running around asking wealthy people to give up half of their wealth: that whole thing is a scam, too. Put your wealth in a living trust, he says, and you can control it like it is your money while you are alive. When you die, the money goes to some “do-gooder” organization. The punch line is, you buy a whole bunch of life insurance and when you… Read more »

Jason Newman
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Jason Newman

He should at least pay the ONE BILLION DOLLARS that Berkshire Hathaway owes in back federal taxes.

Anonymous
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Anonymous

only this administration would use someone who owes a billion in back taxes as the front man of their pay your fair share campaign against the wealthy…….arrogance or stupidity or most likely the middle finger to all of us

stevenbiot
Member
stevenbiot

They sure don’t count on an intelligent electorate to call them on their hypocrisy, do they?

stevenbiot
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stevenbiot

Paul Ryan is the strongest conservative in congress. If he gets in the race, we will truly have a conservative representing common sense American interests. Unfortunately, we are stuck with an illegal immigration sympathizer, a mini-Obamacare creator, a “Big Pharma,” private industry hater, and an “America is responsible for why the world hates us” yapper. Will a real conservative candidate please stand up!

Anonymous
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Anonymous

Steven, I love Paul Ryan, but he’s not the only one fighting the good fight. My congressman, Scott Garret (R-NJ), doesn’t get enough recognition for what he’s doing in Congress. Check out his biography http://garrett.house.gov/Biography/ and you will see a very fiscally conservative representative as well.

We have some really good people in Congress right now, but unfortunately (or fortunately, depending on how you look at it), they are rarely in the headlines. I have to believe the good ones in Congress will keep the next Republican president in line!

stevenbiot
Member
stevenbiot

I didn’t know about Mr. Garret, and I am glad there are individuals in congress stepping up to the plate to give the private sector reign over the economy, by staying out of our business and commending us for a job well done. I like Mr. Ryan because he is so vocal and passionate about conservatism. I think our team is fighting hard, and it might pay off in the near future, with decreased entitlement spending, competition to Social Security, Medicaid, and Medicare. We need vocal conservatives to come out of the fray and boisterously state that the free ride is over, no matter the social unrest that may follow.

playsalieri
Member
playsalieri

I will agree to tax increases that take place five years from now, along with immediate spending cuts!

stevenbiot
Member
stevenbiot

We wont need tax cuts if we cut entitlement spending to 5%; sunset the department of energy; and abolish the IRS, implementing the Fairtax in it’s place. No new tax increases. Money is finite; government spending is opposite that.

stevenbiot
Member
stevenbiot

I meant that we wont need tax increases. Damn edit button is not working. POS edit!

Goldni007
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Goldni007

I like what Rush said. “Why doesn’t Buffet pay his secretary more? Or lower her taxes rather than raising everyone else’s? ”

Anonymous
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Anonymous

I read that Buffett pays around x200 more than his secretary, in terms of the amount of tax paid by both. So Buffett is actually paying x200 more than his “fair share”. Buffett is equivalent to 200 tax-paying secretaries.

Anonymous
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Anonymous

I read somewhere that buffet’s secretary pays more taxes than buffet.

Jeff B
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Jeff B

Buffett’s salary is low, but he has billions in stock. So when Buffett sells 1 share of stock at 130K, he pays a 15% capital gains tax. So let’s compare apples to apples. WB can give his secretary 100 shares of stock and see how that plays out.

Anonymous
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Anonymous

WB can give his secretary 100 shares of stock and see how that plays out. yea, that would be a good idea.

Bobn
Member
Bobn

I think that Herman Cain’s 9/9/9 plan is worth examining more closely. We definitely need to simplify the code and widen the tax base. It seems to do both.

Joshua Saunders
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Joshua Saunders

My problem, is if we leave the IRS there with income taxes,they will just keep the nst and up the income taxes again, leaving them with any liberals dream, a VAT tax on top of a progressive income tax.

Bobn
Member
Bobn

Three things:
1. The national sales tax is nothing like a VAT tax. The 9% NST would be a simple and transparent tax on all new goods and services. A VAT tax is a complicated nightmare of taxes levied at every phase of production and is anything but simple or transparent.
2. The income tax would be a flat tax with a deduction only for charitable donations. The IRS would be gutted because they no longer would have to enforce 70,000 pages of tax code. It would be less than 100 pages.
3. With a 9% corporate tax rate, U.S. products would be extremely competitive globally and manufacturing would boom. Employment would boom. The economy would take off like a rocket.

Anonymous
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Anonymous

Why won’t the Obama Administration explain why they are ignoring recommendations of its own bipartisan Deficit Commission?

Anonymous
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Anonymous

Because the MSM is still romantically involved with the mental midget occupying the WH.

Anonymous
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Anonymous

If the new get rid of businesses and tax anyone that works hard and makes money goes into effect, Bildeburg buffet and barry will have to pay taxes too! The wealthy are leaving America. Way to crate jobs, barry! http://www.youtube.com/watch?v=E644JESFVmk Alex Jones – Obama Sending America into Bondage by Design 2_3‬‏! http://www.youtube.com/watch?v=ws6jcWf4mto Alex Jones – Obama Sending America into Bondage by Design 1_3! http://www.youtube.com/watch?v=KNM7B5Vtk2M cnn – globalist warren buffett to congress: ‘raise my taxes’ http://www.youtube.com/watch?v=gyEC_HLA9dc Bilderberg’s (Gates,Oprah,Buffet,ect) must decide who will die and who will live http://www.youtube.com/watch?v=P8XAVm3-x7g Warren Buffett Swats Down Gold Investing http://www.youtube.com/watch?v=pBG6tP0p_9M abc news reports on secret meeting of the rich, yet ignores bilderberg completely http://www.youtube.com/watch?v=xAsWmxTx7Lk&feature=related The Wicked Billionaire’s Depopulation Club http://www.youtube.com/watch?v=C3t8BC8XyTg&feature=related Sen Rockefeller: Let’s Depopulate!!! Kill the Elders and Poison the children!!!!! http://www.youtube.com/watch?v=ho-0SHFEgGo&feature=related Obama Depopulation Policy Exposed! Red Alert!!!!!! http://www.youtube.com/watch?v=kSYFZY5oTR0 Michael Savage admits Bilderberg put Obama in Power http://www.youtube.com/watch?v=I_pC2ryEBTU Obama’s secret meeting with the Bilderberg Group http://www.youtube.com/watch?v=Y6Z0eCz0pF4&feature=related… Read more »

Anonymous
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Anonymous

If “the rich” truly paid their “fair share”, then they would pay the same amount, not the same percentage as everyone else. If a poor person paid $10,000 in tax for the year, a multi-billionaire would pay $10,000 in tax for the year. Such a system would be an excellent way to limit government, since politicians would have to face the wrath of the entire population when they raise taxes, and they would have to keep government spending low, lest they make life too hard for poor people.

PunditPawn
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PunditPawn

I actually don’t think people have a problem paying reasonable taxes. They have a problem when their tax dollars are wasted on useless democrat programs that simply attract and create more perpetual waste like union teachers who suck and are tenured and cost $250,000 to get rid of each one after the legal costs of going through the union/government red tape.

Anonymous
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Anonymous

Who defines what’s “reasonable”?

There is no objective standard by which to decide it, so therefore it must be discarded.

Boris Badenov
Member
Boris Badenov

I agree with the reasonable part but I am exact opposite with your first statement,

I do believe that everyone should pay the same percentage….

To me that is fair. As long as the percentage is fair as well..

Everyone has skin in the game…It is a level playing field… If the criminal politicians want to raise taxes they have everyone to contend with…

Jeff Engelmann
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Jeff Engelmann

When it comes to the realities of actually getting government officials to lower taxes, you can rest assured that they will never drop to a reasonable level, therefore the argument is moot.

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