No he wasn't. He told that tale in support of Obama, so it had to have been true. We all know only Republicans lie for political gain.
Misleading perhaps, but not a lie. Buffet says his effective tax rate is 17.5% and his staff average about 34%. People assume his secretary makes the $60,000 average for corporate secretaries. The IRS publishes detailed tax tables by income level. The tables show that the average taxpayer paying Buffet’s 17.4 rate earns an adjusted gross income between $100,000 and $200,000. But an average taxpayer in his secretary's rate earns an adjusted gross income of $200,000 to $500,000. So Buffett must pay Debbie Bosanke a salary well above two hundred thousand.
Totally wrong. No one making 500k per year pays an effective federal income tax rate of 34%. Much less someone making 200k per year. Supa is right, Buffett is flat out lying when he says this. Edit: I misread your post a bit. you didn't say she paid 34% but it is also wrong that his staff could pay 34% effective on average. They would all have to make about $10 million each and would certainly not be middle class at that point.
He said his staff averages 34% and his secretary pays more than him (more than 17.5%). According to these IRS tax tables, an average taxpayer in Bosaneck’s rate (after downward adjustment for payroll taxes) earns an adjusted gross income of $200,000 to $500,000.
I'm not ok with the people crying about everything needs to be fair and don't pay a f'in dime. And yes I am ok with a flat tax on ALL income levels. But yes you have to get rid of those loopholes as Red has said.
It's mathematically impossible. Edit: I should clarify. It has been mathematically impossible since 2001. At other times perhaps possible. Doubt it is possible in 2013 but I haven't looked at it closely.
