Getting Around the Buffett Rule
futureofcapitalism.com

Bloomberg News has a useful article about all the ways that it would be possible to get around the Buffett Rule if it passed. According to the article, the rule would not apply to income from tax-free municipal bonds, so it would create a much greater incentive to invest in those rather than in stocks or corporate bonds. Also, "Because the Buffett rule would effectively deny the benefits of the state and local tax deduction, it would create a greater-than-usual incentive to move to a state such as Florida with no income tax." Funny, I haven't heard President Obama or Warren Buffett or Whitney Tilson talking much about the tax break on municipal bond interest as they go around making the case for the Buffett Tax.

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Bloomberg, Taxes, and Job Creators
futureofcapitalism.com

"Top 2% Not Job Creators Or Millionaires In Tax Debate," is the headline over a Bloomberg News article that reports:

President Barack Obama describes them as "millionaires and billionaires" who can afford to pay higher taxes. Republicans call them "job creators" who need to keep their money so they can hire more workers.

As the Democratic president and his Republican opponents debate whether to extend the George W. Bush-era tax cuts for the top 2 percent of U.S. taxpayers -- individuals earning more than $200,000 a year and married couples making more than $250,000 -- their poll-tested phrases obscure the truth about who would be affected.

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Buffett's Latest Tax Efficiency
futureofcapitalism.com

The tax efficiencies in Berkshire Hathaway's "cash-rich split-off" with Graham Holdings are the subject of a Bloomberg News article. The article notes that while Mr. Buffett "has been vocal about tax policy," he also works a lot of angles to try to keep his own tax bill, and Berkshire Hathaway's, as low as legally possible.

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Buffett's Latest Tax Efficiency
futureofcapitalism.com

The tax efficiencies in Berkshire Hathaway's "cash-rich split-off" with Graham Holdings are the subject of a Bloomberg News article. The article notes that while Mr. Buffett "has been vocal about tax policy," he also works a lot of angles to try to keep his own tax bill, and Berkshire Hathaway's, as low as legally possible.

Read More...

Bloomberg, Taxes, and Job Creators
futureofcapitalism.com

"Top 2% Not Job Creators Or Millionaires In Tax Debate," is the headline over a Bloomberg News article that reports:

President Barack Obama describes them as "millionaires and billionaires" who can afford to pay higher taxes. Republicans call them "job creators" who need to keep their money so they can hire more workers.

As the Democratic president and his Republican opponents debate whether to extend the George W. Bush-era tax cuts for the top 2 percent of U.S. taxpayers -- individuals earning more than $200,000 a year and married couples making more than $250,000 -- their poll-tested phrases obscure the truth about who would be affected.

Read More...

Getting Around the Buffett Rule
futureofcapitalism.com

Bloomberg News has a useful article about all the ways that it would be possible to get around the Buffett Rule if it passed. According to the article, the rule would not apply to income from tax-free municipal bonds, so it would create a much greater incentive to invest in those rather than in stocks or corporate bonds. Also, "Because the Buffett rule would effectively deny the benefits of the state and local tax deduction, it would create a greater-than-usual incentive to move to a state such as Florida with no income tax." Funny, I haven't heard President Obama or Warren Buffett or Whitney Tilson talking much about the tax break on municipal bond interest as they go around making the case for the Buffett Tax.

Read More...