In response to:

Warren Buffett and the Corrupting of the American Soul

jd111 Wrote: Dec 02, 2012 6:29 PM
Part 3 However, the way it happens now is that the money will first be taxed as Corporate Profit at a rate of 35% thus making the distribution to the owners not $10,000.00 each but $6,500.00 each. That money is then added to their personal income as a Qualified Divident and taxed at the rate of 15% or $975.00 (with no personal deductions or exemptions) So the effective tax rate paid by a Shareholder of a corporation under Qualifying Dividends is 44.75%. That's higher than the rest of us pay. But because people only see the $975.00 everyone thinks they are getting away with a dodge. When in fact they are paying more than the rest of us. P.S. Buffet's Secretary makes over $400,000.00 a year.
“Bottom line…would raising taxes on the wealthiest Americans have a chilling effect on hiring?”

It was Matt Lauer’s final interview question for his guest, on last Tuesday’s episode of NBC-TV’s “Today” show.

“No,” the guest adamantly replied. “No… and I think it would have a great effect in terms of the morale of the middle class..”

The guest was famed investor Warren Buffett, CEO of the Berkshire Hathaway holding company and a personal friend of President Obama (and by the way, did you know that Obama calls him, and not the other way around? Mr. Buffett would...

Related Tags: Warren Buffett