What I am saying is that someone with an effective rate of 32% and a small return on tax free investments is a poor example of the rich not having to "pay their fair share", and in turn, hypocrisy. If anything, it shows that his rate is higher than most.
The highest tax bracket is 35%. Obama paid an effective rate of 32%. Buffet's effective rate is 19%. See? It's a poor example which doesn't really support your point.
How tax-friendly Obama cuts his own
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ishkabibble
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AZhitman
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Re: (Encryptshun)
Must...resist...urge to sig.Encryptshun wrote:I don't wear panties.
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Re: (AZhitman)
DOOOOO EEEEEEEETAZhitman wrote:
Must...resist...urge to sig.
Hey, if I said otherwise, I'd be disproving my own earlier statement.
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A.) It's functionally irrelevant what's in a candidate's name versus their wife's name. Completely and totally.
B.) Normal tax-deferred savings like retirement accounts, 529's, and municipal bonds are tax-free or tax-deferred for a reason and are nothing to be frowned upon. They are not "loopholes", and they are available to everyone. They have been specifically DESIGNED by policymakers to provide tax savings for worthy purposes.
This is NOT the same thing as an offshore tax haven or as re-classifying income as cap gains or something.
From what I can tell, there isn't much here. Yeah, the guy is successful, but he's not a gazillionaire, and he appears to be invested in some socially responsible stuff (even at his own disadvantage).
I dunno, seems like a reach to me. I don't expect McCain to somehow have a ton of shady stuff either, they're both more or less stand-up guys. This seems like a silly thing to focus on.
If there was some glaring issue that'd be one thing, but this is a pretty standard, conservative portfolio for someone at that net worth level.
B.) Normal tax-deferred savings like retirement accounts, 529's, and municipal bonds are tax-free or tax-deferred for a reason and are nothing to be frowned upon. They are not "loopholes", and they are available to everyone. They have been specifically DESIGNED by policymakers to provide tax savings for worthy purposes.
This is NOT the same thing as an offshore tax haven or as re-classifying income as cap gains or something.
From what I can tell, there isn't much here. Yeah, the guy is successful, but he's not a gazillionaire, and he appears to be invested in some socially responsible stuff (even at his own disadvantage).
I dunno, seems like a reach to me. I don't expect McCain to somehow have a ton of shady stuff either, they're both more or less stand-up guys. This seems like a silly thing to focus on.
If there was some glaring issue that'd be one thing, but this is a pretty standard, conservative portfolio for someone at that net worth level.