Author Topic: Warren Buffett does it again  (Read 2799 times)

WestchesterFrugal

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Warren Buffett does it again
« on: March 18, 2014, 08:34:24 AM »
snip
« Last Edit: March 23, 2014, 09:27:14 AM by WestchesterFrugal »

Iron Mike Sharpe

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Re: Warren Buffett does it again
« Reply #1 on: March 18, 2014, 08:53:11 AM »
Eliminate the income tax altogether, businesses don't pay it to begin with - they just pass it along to consumers.

Move to the consumption-based Fair Tax instead.

rocksinmyhead

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Re: Warren Buffett does it again
« Reply #2 on: March 18, 2014, 09:04:04 AM »
We need an end to corporate tax loopholes and the tit for tat between politicians and corporations - this is what is really driving the inequality in society.

preach, brother!

I didn't want to register, though, so I didn't actually read the article.

Move to the consumption-based Fair Tax instead.

I am torn on this. on one level it makes a lot of sense, but I don't like how harsh it is on people at the lowest end of the income spectrum. plus, I am automatically skeptical of anyone who labels their tax the only "fair" tax since I think what is considered a "fair" system of taxation is pretty subjective :)

I did just go read this though: http://www.fairtax.org/site/PageServer?pagename=FAQs#3 and it sounded pretty good.

soccerluvof4

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Re: Warren Buffett does it again
« Reply #3 on: March 18, 2014, 09:39:22 AM »
Lets just start by simplifying the damn tax code. Both at corporate and personal levels.

Iron Mike Sharpe

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Re: Warren Buffett does it again
« Reply #4 on: March 18, 2014, 09:47:21 AM »
Yeah, the prebate takes care of the poor, it essentially eliminates taxes from their lives.

Income tax evaders like drug dealers, and illegals aliens now will pay into the system too.


warfreak2

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Re: Warren Buffett does it again
« Reply #5 on: March 18, 2014, 10:18:52 AM »
Main problem I see is how to define the difference between personal consumption and business-to-business transactions. A business paying a catering company to provide a buffet? A business paying a housing association for temporary employee accommodation? A business buying a laptop for an employee to work at home? Now imagine all of these where the business is just one person and has no clients.

 

Wow, a phone plan for fifteen bucks!