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Wednesday, June 27, 2007

Our Progressive Tax System

Warren Buffet is only taxed at 17.7%?:

Buffett Slams Tax System Disparities, by Tomoeh Murakami Tse, Washington Post: Warren E. Buffett ... slammed a system that allows the very rich to pay taxes at a lower rate than the middle class.

Buffett cited himself, the third-richest person in the world, as an example. Last year, Buffett said, he was taxed at 17.7 percent on his taxable income of more than $46 million. His receptionist was taxed at about 30 percent.

Buffett said that was despite the fact that he was not trying to avoid paying higher taxes. "I don't have a tax shelter," he said. And he challenged Congress and his audience to see what the people who "clean our offices" are taxed...

    Posted by on Wednesday, June 27, 2007 at 04:14 AM in Economics, Income Distribution, Policy, Politics, Taxes | Permalink  TrackBack (0)  Comments (75)

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