Sunday, September 7, 2008

Taxes part 3: Rich old men

Warren Buffett, who is sometimes the richest man in the world, complains that taxes on the rich are too low. He pays a tax rate about half that of his secretary's: most of Buffett’s income is from dividends and capital gains, and is taxed at a 15% Federal rate, as opposed to a Federal rate more than twice that for upper middle class families. He supports Obama.

Meanwhile, the AP reported that Alan Greenspan says the country can't afford tax cuts proposed by John McCain — at least not without a corresponding reduction in government spending.

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Always remember that you are absolutely unique. Just like everyone else. -Margaret Mead