Monday, December 17, 2007

Don't Like the Bush Tax Cuts? Don't Pay Them! Pay Your Taxes Under Old Rates From 2000 or 2001

SAN FRANCISCO--Buffett indirectly blamed the Bush administration for a tax code he said is out of whack.

"In the last seven-eight years what has happened is that the super-rich have gotten a huge break," said Buffett, one of the world's richest people with a net worth of $52 billion, according to Forbes magazine.

In a previous post, I challenged proponents of tax increases to raise taxes on themselves immediately by making a voluntary gift to to the U.S. Treasury, and not waiting for the Bush tax cuts to expire. After all, if forced increases in taxes are desirable by future changes in the tax code, then voluntary tax increases by rich taxpayers like Buffet and the Clintons right now should be desirable.

Here's another idea for Buffet and the Clintons. If they think that the tax codes in previous years were more equitable, fair and desirable then they can pay under the old rates for their 2007 tax returns. Here are the tax rates for 2000 (highest rate 39.6%), 2001 (highest rate 39.1%), and 2002 (highest rate 38.6%). In other words, if they don't like the Bush tax cuts (highest rate 35%), they don't have to accept them, they can file under the pre-Bush tax rates, i.e. the Clinton tax rates.

4 Comments:

At 12/18/2007 8:42 AM, Blogger Walt G. said...

I liked your earlier proposal for politicians to donate 5 pints of blood a day. That would surely solve the problem. Oops, that was a year wasn’t it?

 
At 12/18/2007 11:56 AM, Anonymous Anonymous said...

Why should rich liberals sacrifice more than rich conservatives? Why should some horses work harder to pull the carriage more than others?

Unless you don't think we're all in this together.

 
At 12/18/2007 2:36 PM, Anonymous Anonymous said...

Why should rich liberals sacrifice more than rich conservatives?

Because they WANT to.

 
At 12/18/2007 3:32 PM, Blogger Howard said...

We're all in this together?

So you're a flat tax advocate!

 

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