Main Entry: Gossamer
Part of Speech: adjective
Definition: gauzy, thin
Synonyms: airy, cobweb, delicate, diaphanous, fibrous, fine, flimsy,
light, sheer, silky, tiffany, translucent, transparent
It's a Benefit so ethereal, so delicate, that some would claim even mentioning the Name of the Golden Goose, is enough to send the Economy into a Tail Spin. Just raising the secret topic is enough to start a Tidal Wave of Expatriation, or so they say.
(It's mostly Unpatriotic Millionaires, who say that, by the way.)
Others have more of a sense of Loyalty, of WHAT they REALLY OWE their Country ... in exchange for all the Opportunities and Security they've received from her, and her citizens ...
Decoding Buffett's tax plan
by Jeanne Sahadi, CNNMoney -- August 15, 2011:
[Warren Buffett:]
"My friends and I have been coddled long enough by a billionaire-friendly Congress. It's time for our government to get serious about shared sacrifice," the founder of holding company Berkshire Hathaway (BRKA, Fortune 500) wrote in a New York Times opinion piece [...]
In Buffett's view, the very rich don't pay enough in taxes. And he doesn't think asking them to pay more will discourage investment or job creation. [...]
Why Buffett only pays 17.4% of his income in federal taxes: "Last year my federal tax bill ... was $6,938,744. That sounds like a lot of money. But what I paid was only 17.4 percent of my taxable income -- and that's actually a lower percentage than was paid by any of the other 20 people in our office. Their tax burdens ranged from 33 percent to 41 percent and averaged 36 percent."
Millionaires who pay no income tax
Unlike most Americans, Buffett and the country's wealthiest taxpayers make much of their income from investments. The capital gains and dividends those investments generate are taxed at a much lower rate than wages. Long-term capital gains and dividends are currently taxed at 15% -- well below the 35% top income tax rate.
Managers of hedge funds and other investment partnerships, meanwhile, enjoy that same rate on the portion of their pay known as carried interest.
In addition, the wealthiest only pay a very small percentage of total payroll taxes, which support Medicare and Social Security.
Nice work, if you can get it, eh? Some very surreal "perks" too -- Tax-wise.
WHAT is Warren Thinking? ... He's ready to give some of that E-Z-Money Wealth BACK to America!? WHY? What on earth for?
Oh the Nerve of the guy ... Doesn't he know Millionaires are the New Untouchables?
So what exactly is this Mysterious Tax, that shall not be named -- aka. the Golden Goose of easy money? ... that the Top 1 Percent, have corralled to their exclusive benefit.
What is the "coddling clothe" that rocks so many Millionaires, so softly sleep? ... no matter the external weather?
All About the Rich People
The top earners are willing to blow up the house rather than have Obama touch their golden goose, the capital gains tax.
by Brian Morton, CityPaper.com -- July 20, 2011
[...]
The dirty secret is that capital gains taxes -- taxes on “unearned wealth” -- are what allow people like Donald Trump to pay a lower tax rate than his maid or secretary. Right now the long-term rate on capital gains -- investments or assets that are held for more than a year -- are taxed at 15 percent, compared to the top income tax rate of 35 percent. And rather than accept everything that the president offered, which would be far more than they could ever get under a Republican president, the top earners are willing to blow up the house so he can’t touch their golden goose, the capital gains tax.
Who says the Wealthy don't get any Welfare?
And Bail Outs, and all kinds of "confidence-building" Tax Breaks? (At least 20% MORE in Tax Breaks than the average working stiff gets.)
A Twenty Percent Capital Gain Advantage -- that is "Taxing-shifting" our Economy to death ... just to keep them in rolling in silk and cigars ...
400 Richest Americans Pay Only 18% Tax Rate
by Mark Berman, OpposingViews.com -- Jul 26, 2011
If politicians really want to dig their way out of this debt ceiling mess, they should look to the ridiculously low tax rate paid by the 400 richest Americans. On average their tax rate is 18%, Wall Street financier Steve Rattner said on MSNBC on Monday.
Forbes reports that the reason is because of the Bush tax cuts, which reduced the tax rate on capital gains and dividends to 15%.
Another expert said if those tax breaks and other loopholes were closed, the country would be fine. "If there is political will, the political parties can very easily find a Trillion dollars just in the tax code," said Ron Weiner, resident of RDM Financial Group.
Of course, if Warren Buffett is to wrangle that Gossamer Golden Goose, into an yet-to-be-tapped reservoir of Economic Patriotism -- for the sake of the Country, for the sake of economic fairness
-- he is probably going to need a Backhoe and Crane, in order to get the Job done!
.
.
.
.
Afterall they don't call them Fat Cats (and Hedge Hogs), for Nothing!