http://blog.oup.com/2011/09/buffett/ Academic insights for the thinking world. Fri, 24 May 2013 18:48:58 +0000 hourly 1 http://wordpress.org/?v=3.4.2 http://blog.oup.com/2011/09/buffett/#comment-404131 The Buffett Rule debate: A guide for the perplexed | OUPblog Thu, 09 May 2013 01:39:51 +0000 http://blog.oup.com/?p=18201#comment-404131 [...] he had said it before, Warren Buffett struck a nerve with his most recent observation that his effective federal tax rate is lower than [...] [...] he had said it before, Warren Buffett struck a nerve with his most recent observation that his effective federal tax rate is lower than [...]

]]> http://blog.oup.com/2011/09/buffett/#comment-232734 Robert Frischer Mon, 03 Oct 2011 01:09:28 +0000 http://blog.oup.com/?p=18201#comment-232734 Mr. Buffett is very generous in requesting that he pay a higher tax rate. But it is of no consequences to him because he will never pay a rate that will hurt him. Even if he paid 99% he would still never have to worry about personal financial hardship. There is no self sacrifice or pain in his paying a higher tax. For the average person though $5 extra means one less meal at McDonalds. When we see our dollars going to solar energy companies that can't survive in the real world we start to think how we can dodge paying our taxes, not pay more. I would propose that Mr. Buffett send some of his money to me and let me decide how to spend it- I am better than Uncle Sam at spending money. The Gates Foundation does what, help the poorest of the poor survive from AIDS so they can die of starvation? Do they really make the world a better place? Mr. Buffett is very generous in requesting that he pay a higher tax rate. But it is of no consequences to him because he will never pay a rate that will hurt him. Even if he paid 99% he would still never have to worry about personal financial hardship. There is no self sacrifice or pain in his paying a higher tax. For the average person though $5 extra means one less meal at McDonalds. When we see our dollars going to solar energy companies that can’t survive in the real world we start to think how we can dodge paying our taxes, not pay more. I would propose that Mr. Buffett send some of his money to me and let me decide how to spend it- I am better than Uncle Sam at spending money. The Gates Foundation does what, help the poorest of the poor survive from AIDS so they can die of starvation? Do they really make the world a better place?

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