All federal tax laws are approved by Congress. The majority of businesses and individuals already pay their “fair-share” (class-warfare code speak) of taxes based on the applicable tax laws active during the year of filing.

All of the convoluted write-offs, deferrals, tax credits, income type classifications, tax deductions, expenditure amortizations, ad infinitum, were written into the tax code by Congress- they approved them.

Therefore, there should be no animosity toward anyone using the tax code to minimize their tax liability.

Ironically, President Obama, while engaging in class-warfare with his “fair-share” rhetoric, really means that it is all Congress’ fault that Buffet only pays a 15% tax rate.

“Given the low level of competence among politicians, every American should become a libertarian. The government that governs the least is certainly the best choice when fools, opportunists and grafters run it. When power is for sale, government power should be severely limited. When power is abused, the less power the better.”– Charley Reese

NO NEW TAXES EVER!””””

Last time I checked, these services are used buy the uber rich as well. Why do they have to pay more then those making less then them?
The funny thing with math is you can get two different impressions from the same result depending on how it is phrased.
I.e. “That rich guy only paid 15% in taxes!!!” sounds harsh and like he should pay more right?

How about this, ” That rich guy paid $6 million in taxes last year ( 15% ), holy crap why does he have to pay soo much?!”

Also, nice generalization that “people who rely on the government” don’t pay any income taxes. Last time I checked, we send our kids to school, drive on the roads, use the park system, go to public hospitals, etc. and we pay taxes for it. Except for the gated community, private school elite, we ALL rely on government.

Finally, if the corporations getting all these tax breaks and bailouts would actually use this money to create jobs in THIS COUNTRY, instead of outsourcing them or just using the money to pad their profit margins, maybe we wouldn’t be having this conversation.

Did Obama actually say, “No more bail-outs, no more hand-outs, no more cop-outs” last night? He must’ve been stoned.

Buffett pays what he owes, and legally hides the rest of his money in offshore accounts. So does Romney, and other very wealthy people who know they’d become cash machines for the government if they didn’t. And it is legal.

Remember that the uber wealthy pay taxes on investment income, not income taxes. They aren’t cheating or skating on paying their fair share. Investment income is taxed at a different rate and should be – they already paid income taxes on the money earned which is used for the investment purchases, unless the money is in a 401 k or other similar account.

What is the “fair share” for people like Buffett and Romney who don’t use government social services (the most expensive services, with the highest costs)? But people reliant on the government don’t pay any income taxes. Is that fair? Aren’t those who are dependent on government, skating on paying their fair share? They still receive government provided water, garbage, sewer, services, public schools, public health care, public assistance for rent, and food.

Why should Buffett and Romney, two very productive members of society who contribute to the employment of others, pay more? Because they have more? Because they have earned more? Isn’t that a disincentive?

Buffett can chatter all he wants about the rich paying higher taxes, but he has yet to write a larger check to the IRS, or to his state. If he is sincere, he should be lobbying Congress to change the U.S. banking laws, and bring his money back to the states.

On a side note – if U.S. banking laws were changed commensurately with a change to a flat tax for everyone in the country, the government would have plenty of revenue. Lower income taxes, lower capital gains taxes, cut some regulations, and entrepreneurs would create again. Supply-side economics always wins out over Keynesian economics… but government would have to shrink. Oh my.

– Katy