Well, I'm not OK with paying 25% while Warren Buffet and Bill Gates pay 15%. You have been completely brainwashed. Growing trees and selling timber does. Developing property and collecting rent does, too. Doing consulting work for $90/hour doesn't bring in a ton right now, but when I retire next summer and have more time, it will get bigger. Yes they are all sole proprietorships. I have no employees, using only contractors when I need them and I work out of my house and out of a barn in north Louisiana. But they are legitimate, tax-paying small businesses that I manage and they are gradually making me eligible for Social Security and Medicare, which I would otherwise not be entitled to. And after I retire I may have time to become a sophisticated Hollywood producer, an international playboy, or a double-naught spy. :hihi:
Buffett and Gates pay 15% of mega billions. It's a lot of money and I'm fine with it. Both are give hundreds of millions to charity. They do more than their fair share. Only God can make a tree.
again, there is no need to ask, if you are rich and think taxes are too low you can give voluntarily. mr buffett cant speak for all rich folks any more than i speak for all awesome folks.
the best gop idea is to get rid of the mortgage interest deduction. talk about raising taxes on middle class. wonder how that will affect the foreclosure #s?
It won't. Not even a tiny bit. The average mortgage deduction is 3300. Apply a tax of 15 percent to that and your are talking about an increased tax liability of $495. At 25% its an extra $825. Also any loss of deductions will probably be coupled with a drop in rates. The net effect is a wash.
