Paying her FAIR share Forbes has an interesting article about the new poster child for Americans to pay their fair share, the secretary of Warren Buffet. Although mostly speculation, what if the general assumptions are right and the secretary makes between $200,000 - $500,000? Does that change you opinion one way or the other? If she truly makes that kind of cash, good for her. However, the message begins to be ring hollow if the President continues to try and make the case that a Billionaire isn't paying the same rate as his "lowly" secretary. **** sign me up for that gig at whatever % rate you want. . . so long as its fair.
It's a great article if one enjoys speculating. She could be married to a local dentist earning $200k, or whatever- who the F knows. The author doesn't know either and he talks about it- he's just writing an article to fill space. The point she is being used to make is her income is not via carried interest, which is taxed at 15%. If I develop a cure for cancer, and sell it to clinics around the world for a hefty profit- my tax rate is more than double 15%. What is so special about cap gains from PE and Hedge funds, (other than their industry has a powerful lobbying arm) that it deserves half the tax rate?
No, it highlights how large the income gap is. I pointed out to my wife that we collectively are in the top 2.5% of income earners in the US. My wife is a .5 4th grade teacher. She was shocked because we don't feel anything other than middle class. It gives perspective on how not so well off a good portion of the country is.
Does Warren Buffet release his tax returns? If not, as much as he and the President spout off about it, both Buffet and his secretary should release theirs. Otherwise, it is just empy rhetoric. Also, if Buffet is only paying his secretary about 75K a year, he is one cheap SOB.
Capital gains are "special" because they generally represent earnings that have already been taxed at the corporate level. IT is a second layer of taxation that should just be eliminated.
I can guarantee she makes more than 90K. Anyone thinking that lady doesn't get a large bonus is smoking crack.
most top executive secretaries make well over 100k a year. she is the secretary to one of the richest men in the world, if he isnt paying her at least 250k, he is a cheap bastard.
Unless she files seperately from her husband it doesn't matter what her salary is due to the point that the question is what she pays in taxes vs Buffet. So for example if her husband is also a billionaire (which I doubt) and had a huge income and they file together then why wouldn't she pay more in taxes than her boss. The IRS release the info in tables which is why they can't pen down her exact amount she makes per year. They just know her income is at a minumum $200K and a max of $500K a year. She does have two homes, one with a pool and a PGA putting green in Arizona. So if they are acting like she is this poor lonely secretary having to pay more in taxes is foolish. Some are arguing what her salary probably is for that position, but how many secretaries work for a Billionaire?
All I know is that if this chick was being used as a cheap political prop by the republicans (ala Joe the plummer) We'd have 1500 journalists digging through her trash and bribing acquaintances for dirt. We'd damn well know what her and her husband made by now.
I don't think you deserve to know anything about her. She is not making public statements. Her employer is and he probably asked her to be at the State of the Union as well. Now Joe the Plummer was promoting himself to no end. He got himself out there front and center.
families making 60-100k a year (total household income) is considered middle class. By obama's definition, she is rich, she makes 250k+ or her house does. buffet is a ruthless sob. you do not get to his position of wealth or power without being one. along with the hollywood rich, and the tech industry, the plaintiff's bar, and the bankers that give dems money, he is one of the only acceptable super wealthy people in america because he is a open supporter of obama. it was a smart move on his part, he has profitted greatly from that relationship. but that is all this really is, a business relationship. he gets to say a few things in support of the presidents position on taxes, and he profits greatly. taxing a high rate for money earned legally is unamerican. if you are going to raise the rates on capital gains, you shouldnt do it unless its a very extravagant amount, raise it up to 50% for money earned over 5 million per year. i think it would destroy the economy but i could be wrong.
