"Tax breaks for corporations -- and their investors, particularly large ones -- were a major part of the administration's 2002 and 2003 initiatives," Buffett said. "If class warfare is being waged in America, my class is clearly winning."
The Senate's plan for dividends to be 50 percent tax free in 2003, 100 percent tax free in 2004 through 2006 and then face the full tax in 2007 would "further tilt the tax scales toward the rich," Buffett wrote in an opinion piece in the Washington Post.
Buffett posed a hypothetical situation in which Berkshire Hathaway, which does not currently pay a dividend, paid $1 billion in dividends next year.
Through his 31 percent ownership of the company, Buffett said he would receive an additional $310 million in income that would reduce his tax rate from about 30 percent to 3 percent, while his office secretary would still have a tax rate of about 30 percent.
2006-10-25 10:03:35 · 5 answers · asked by Anonymous in Politics & Government ➔ Politics
Please explain your answer.
2006-10-25 10:06:05 · update #1
I am biased (since I am miidly obsessed with Buffett recently), but you would choose Bush over a man who is reconized as a financial genius and has built one of the strongest corporations in history....really?
2006-10-25 10:23:49 · update #2
Warren Buffett is an economic genuis. His companies are making profit, and are strong!
2006-10-25 12:50:16 · answer #1 · answered by Villain 6 · 2⤊ 1⤋
George Bush, and his administartion. Tax breaks to the rich create more jobs, and better the economy, more people working, and at higher wages, because now big companies can afford to hire, and pay larger wages. They need more people to work because production goes up! Bush also gave tax cute to non business owners, to the same percentage as what they made.
Over-taxing rich companies causes production to go down, people are layed off, because these companies dont want to take a loss in profits to keep people in jobs they dont have for them anymore. If I owned a business, I wouldnt want to pay a worker who just sits around doing nothing because theres no work for him to do. I wouldnt be able to afford it.
2006-10-25 17:13:04 · answer #2 · answered by xenypoo 4 · 0⤊ 1⤋
Bush.
2006-10-25 17:04:44 · answer #3 · answered by mei-lin 5 · 1⤊ 0⤋
Smart man, he put his money where he knew it would make money, if you don't want more taxes then don't vote democrat, stupid.
2006-10-25 17:08:18 · answer #4 · answered by Anonymous · 1⤊ 0⤋
robin williams
2006-10-25 17:06:19 · answer #5 · answered by SANDRA Q 4 · 1⤊ 0⤋