Thursday, March 1, 2012

Warren Buffet and taxes

For the first time in several years my federal tax refund was not eaten by my state tax bill.
Personal info aside I think that Warren Buffet and the Buffett Rule should become law. That is not the normal thinking of a conservative registered independant voter. Maybe all the Rules and Laws passed by the House of Representatives while the Honorable Charles Rangel was chairman of the Ways and Means Committee should be looked at. All the loopholes that wealthy individuals and large corporations get should be reveiwed to see if they are actually fair, many of those were put into tax law just to reward certain individuals & corporations.
While the media talks about the home mortgage deduction as a sacred cow of some kind, today with interest rates being so low I have to wonder how many "middle class" people actually pay enough interest to itemize deductions. The smallest part of the more than 11,000 pages of tax law & code is for individuals and couples.
If you go to the link above you can read what wealthy individuals have said about Warren Buffets public comments concering taxes and the wealthy.

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