Comment

USADA to Strip Lance Armstrong of 7 Tour De France Titles

573
palomino8/24/2012 9:03:13 am PDT

Yeah, that Warren Buffet guy is full of shit when he criticizes a tax system in which he pays a lower effective rate than his secretary. Other than being one of the most successful capitalists in history, and one of America’s richest men, what the hell does he know about economics?

If a guy pays $1 mil in taxes, most people would say, “Wow…that’s a lot.” But if that was on $100 mil in income, then most people would say, “WTF” as that’s a 1% rate. OTOH, a guy who makes only $100k, if he pays 15k in taxes is paying a hell of a lot less than the first guy, but his rate is so much higher that there’s a legit tax fairness issue.