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Unfolding Nature Shop: Unfolding Nature: Being in the Implicate Order

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OfflineSulfurshelfsean
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Millionaires Support Warren Buffett’s Tax on the Rich
    #15310333 - 11/01/11 07:32 PM (12 years, 2 months ago)

By Robert Frank
Wallstreet Journal

Warren Buffett isn’t the only rich guy who wants to higher taxes on the rich.

A new survey from Spectrem Group found that 68% of millionaires (those with investments of $1 million or more)  support raising taxes on those with $1 million or more in income. Fully 61% of those with net worths of $5 million or more support the tax on million-plus earners.

Buffett, as you might recall, has proposed raising taxes on million-plus earners, saying the ultra-rich pay lower rates than everyday workers.

Rich people’s opinions of Buffett remain fairly positive in the wake of his tax-me-more crusade. More than a third of millionaires and ultra-high-net-worths said they have a more positive opinion of Buffett after his tax proposal. Only 19% of millionaires and 22% of the $5 million -plus group said they had a more negative opinion of him after the proposal.

More than 40% of both groups said their opinion hadn’t changed.

In other words, Buffett’s proposal had more supporters than detractors among the rich — though that support declines slightly as you move up the wealth ladder.

Explains George Walper of Spectrem: “What this tells us is that there are a number of wealthy folks who said: ‘Gee, we need to increase taxes to stimulate the economy. No one likes to be taxed more, but the reality is maybe it has to be done.’ ”

Walper added that he was also surprised at the positive reactions to Buffett’s political agenda. “I thought that among this group there would be a feeling of ‘why doesn’t he keep his nose out of it?’”

As part of its survey, Spectrem Group also collected comments from the respondents. Here are a few highlights, from both the pro-Buffett and anti-Buffett camps:

PRO-BUFFETTS

“When you have someone who made four and a half billion pay fifteen percent, and because it’s a hedge fund, I have a problem with that.”

“Quite frankly if Warren Buffett gets taxed an extra fifty thousand dollars or your typical investor of two hundred and fifty [thousand] or larger has to pay an extra thousand dollars in tax; It’s not gonna change his lifestyle. Whatever he or she was gonna buy, he or she is gonna buy.”

““I think theoretically it would be good for this country and put some more money in the coffers, personally it wouldn’t be good for my family so I’m kind of at conflict between self interest and what might be good for the country.”

ANTI-BUFFETTS

““I think some of that spirit of America is lost when you start penalizing so to speak, the folks who have more.”

“I think there should be a voluntary check box on the tax form that says, if you would like to send in more please do.”

““For myself, if there were an increase in taxes, I’m probably gonna button up some spending.”

The survey and comments prove that the rich are not the monolithic, entirely self-serving group that is often portrayed in the media. They are just as divided as the rest of the country. And many are willing to pay more taxes.

Has your opinion of Buffett gotten better or worse after his tax idea?

http://blogs.wsj.com/wealth/2011/10/27/most-millionaires-support-warren-buffetts-tax-on-the-rich/


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Offlinezappaisgod
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Registered: 02/11/04
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Re: Millionaires Support Warren Buffett’s Tax on the Rich [Re: Sulfurshelfsean]
    #15314116 - 11/02/11 05:48 PM (12 years, 2 months ago)

So let the phony cunts cut all the checks they want and stop declaring deductions.


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OfflineSulfurshelfsean
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Re: Millionaires Support Warren Buffett’s Tax on the Rich [Re: zappaisgod]
    #15314962 - 11/02/11 07:59 PM (12 years, 2 months ago)

I hear that.


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Unfolding Nature Shop: Unfolding Nature: Being in the Implicate Order


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