Warren Buffett has released his annual encyclical on the need to raise taxes for the wealthy, from theNew York Times, the de facto cathedral of the Church of Enlightened Envy. As usual the arguments make no sense, and conservatives have issued the usual challenges: Capital gains taxes are a second layer of taxation, so it’s irrational to compare that only to a middle class person’s total tax rate; capital gains tax rates are lower because capital is at risk from speculative losses, unlike wage and salary income; capital gains rates are lower because most capital gains are long term,...
In other words he's a typical member of the associates of the kleptocratic elite ruling class: confiscation for thee but not for me. This guy proposes that $250K/yr constitutes "rich" when he probably could dig $250K in change from behind his couch cushions. His kind is not about the truly super-wealthy paying anything, but about moderately to hi-earning professionals, investors, & entrepreneurs, who might well have a negative net worth due to business investment, being hypertaxed to keep them out of the rich guy's club Buffet & his buddies inhabit.
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