Super-rich “cool” with higher taxes

POSTED BY ORHAN

Via Andrew Sullivan:

Mark Zuckerberg recently remarked that he’s “cool” with raising taxes on the rich – himself included. Gary Rivlin finds this disingenuous:

It’s a hollow gesture to say the federal government should raise the tax rate on the country’s top wage earners when the likes of Zuckerberg have most of their wealth tied up in stock. Many of the super-rich see virtually all their income as capital gains, and capital gains are taxed at a much lower rate—15 percent—than ordinary income. When Warren Buffett talks about paying a lower tax rate than his secretary, that’s because she sees most of her pay through a paycheck, while the bulk of his compensation comes in the form of capital gains and dividends. In 2006, for instance, Buffett paid 17.7 percent in taxes on the $46 million he booked that year, while his secretary lost 30 percent of her $60,000 salary to the government.

“It’s easy to say ‘Raise taxes’ when you know you’re not going to have to pay those taxes,” [Bruce] Bartlett says. “What I don’t hear is ‘Let’s raise the capital-gains tax.’”

21 responses to “Super-rich “cool” with higher taxes

  1. A brilliant clarification.

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  2. Very interesting indeed – but I’d qualify it. I don’t know about Zukerburg, but I’ll give Buffet the benefit of the doubt and assume he’s talking philosophically. He gives away billions to others as it is.

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  3. Why don’t all of the liberals who are in favor of raising taxes on themselves just write Uncle Barak an extra check and leave everyone else alone ?

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  4. Alan Scott:

    Because people are starving.

    Rich and greedy people have money that they do nothing but sit on, while the whole continent of Africa, and many other places of the world (including places here in america) are going hungry.

    Which would be the greater evil?

    Wealth redistribution and land seizures?

    or

    Doing nothing while children STARVE TO DEATH???

    Well, Alan?

    Which is the greater evil?

    Pick one!

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  5. The UnRepublican ,

    Comrade , that is very amusing . Like any good myth it has about 1% truth in it . You know it is friday morning, the Sun is finally shining, and you gave me a good laugh . Thank you .

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  6. To Mr. Alan Scott,
    1) If all who are against the health care plan would be a policy for an uninsured, there wouldn’t be a need for the plan.

    2) It’s Mr. President or President Obama … just like it was Mr. President or President Bush. Yep, Speaker Boehner followed Speaker Pelosi.

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    • Thanks you for that afankangle – all these silly names (Uncle Barak) are annoying and childish. After all “Sticks and stones will break my bones, but names will never hurt me” Wonder if Alan learned that one on the playground?

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  7. Ms. Holland ,

    ” Wonder if Alan learned that one on the playground? ”

    I am amazed at how holier than thou you get when I dare show disrespect to people you like . As if you and yours’ are not far more vicious going after those you dislike . And yes you do . Don’t make me write examples . I mean using ” Uncle Barak ” as in Uncle Sam does not come up to the rhetoric I see here and elsewhere that Progressives routinely use against Conservatives .

    Actually I believe I am extremely reserved in what I write . And yes I learned a lot of life’s lessons on the playgrounds of Philadelphia . I learned to read people . Which is why I am not enamored by the current Mr. President . I would not vote for him or buy a used car from him .

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    • Alan, you don’t need to vote for or buy a car from the President. Fine.

      I’m not a name caller – but I do regularly make an exception for Sarah Palin and her progency. They’re grifters. I could go on . . .

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  8. Ms. Holland ,

    ” Sarah Palin and her progency. They’re grifters. I could go on . . ”

    To paraphrase afrankangle . It’s Governor Palin . And what school yard , I mean playground , did you learn to address other women as grifters ? The girls I grew up with never called each other that .

    The used car thing was merely an example . I’ve bought more than my share of lemons . The shinola that ” President Obama ” slung to pass Obama-Care would make any salesman on our local automile proud .

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    • Alan,
      “Uncle Sam” …. but not Uncle Tom? See the difference? Better yet, could one (not necessarily you) mean Tom but use Sam? Something to ponder.

      I prefer to take the highroad on names, although some nicknames are simply too good for one (depending on their lean) to pass. However, one must be aware “where” they use it – know the audience.

      In summary, instead of trying to turn the tables onto the host (or to me), try the high road.

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    • ‘Girls ‘ has nothing to do with it Alan – that’s an odd correlation you keep coming up with. As for Palin, it is always my intention to insult her.

      If you insist on my using her proper title then, half-Goverenor Palin is a grifter. ‘Grifter’ is not a ‘name for a girl’. A grifter iss a con artist. The kind who takes your money and runs.

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  9. afrankangle ,

    Uncle Tom ? What exactly is an ” Uncle Tom ” ?

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  10. Ms. Holland ,

    I did not read Uncle Tom’s cabin in school . It was not given to us . However since I like to say I have read the classics or a few of them anyway , I downloaded it from Project Guttenberg some years back . Your buddy afrankangle was wise to not take the bait . I find there are many on this board who throw things out there and don’t know what they are talking about . Uncle Tom as a derogatory term , was transformed into a slur it was never meant to be .

    If you take the time to go to original sources it is amazing what you can learn .

    Like

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