RE: Warren Buffet would likely pay no income taxes in under Cain's 999 plan

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RE: Warren Buffet would likely pay no income taxes in u... - 10/20/2011 6:40:19 AM

Edwynn

Posts: 4105
Joined: 10/26/2008
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quote:

ORIGINAL: TreasureKY

As I said in another thread:

I would be lying if I claimed there was not a good part of me that asks just why the rich should pay more in taxes. We already know that there is a significant number of citizens who pay effectively no Federal income tax... and some who actually receive more money back than they paid in. We know that Warren Buffet's tax rate is less than his secretary's, but what is the bottom line? Do you really think that Warren Buffet paid less in taxes than his secretary? He paid $6.9 million... what did she pay? Did he receive more benefit from his contribution? Did he use the roads more? Did he receive more protection from the military? Did he have access to more infrastructure?

Just why is it "fair" for one man to pay so much, when others pay nothing at all?

Of course he has a larger income and can afford it, but why does that matter?

Would you consider it fair if the price for every purchase you made was based not on the value of the item, but on how much money you have? Would it be fair for the regular guy in front of you in the grocery store line to get milk for $3.60 a gallon, but because you have a larger bank account, you have to pay $154 a gallon?

Treasure, here is "the deal";

We in North America or in Western Europe do not have it in our everyday awareness the tremendous value of such things as property rights, a good court system, a system of regulations (which so many complain about) that keeps businesses honest and prevents others from taking over yours against your will, at a vastly undercut price, stealing your intellectual property or your original ideas, selling inferior or counterfeit goods with your company's label on it, etc. That is to say, fundamentally, a functioning rule of law. Do you know how expensive it is to keep all that up?

Warren Buffett or Larry Blankfein drive on the roads everyday, fine. How many of us make use of the court system or the patent office or our account at the Federal Reserve or rely on various Federal agencies to ensure that the trucks or ships or planes or trains that we buy are safe for service, and rely upon Federal staffing of traffic management for much of that, on a daily or weekly basis? This doesn't come free, we all have to pay for it. Yes, some of that is paid for by users of the service, but a lot of it is not (e.g., the civil court system), and on occasions where fees are charged, most certainly below what would be 'market rate" and less than cost in any event.

It stands to reason that those who most benefit from this system pay accordingly for the services supporting their mode of income that depends so directly upon our system of law and the agencies that allow for all that. Delve into "third world" or developing countries if you want to see the value of what we have here.

< Message edited by Edwynn -- 10/20/2011 7:01:55 AM >

(in reply to TreasureKY)