Warren Buffett on Taxes

August 19, 2011: Our leaders have asked for “shared sacrifice.” But when they did the asking, they spared me. I checked with my mega-rich friends to learn what pain they were expecting. They, too, were left untouched.

While the poor and middle class fight for us in Afghanistan, and while most Americans struggle to make ends meet, we mega-rich continue to get our extraordinary tax breaks. Some of us are investment managers who earn billions from our daily labors but are allowed to classify our income as “carried interest,” thereby getting a bargain 15 percent tax rate. Others own stock index futures for 10 minutes and have 60 percent of their gain taxed at 15 percent, as if they’d been long-term investors.

Click here to read more at The New York Times.


Be the first to comment

Please check your e-mail for a link to activate your account.
Get Advice Join TDU Donate

Recent News

Arbitrator Waters Down 9.5 Rights at UPS

UPS drivers’ rights were watered down when the IBT lost an important arbitration decision on 9.5 protections against excessive overtime.

Jack Cooper Concessions Deal Goes Through

Carhaul Director Kevin Moore announced Teamsters at Jack Cooper have accepted a “Restructuring Term Sheet” that allows for concessions under the current carhaul contract. The company claimed they needed new terms to stay in business. The vote was 868 Yes to 427 No.

View More News Posts