Fact Check Pulverizes Obama's Claim About Buffett

My guess --- he scanned payroll/witholding, instead of actual tax burden.

The payroll department likely over-witholds.

(mine does)

bailey bud wrote: My guess --- he scanned payroll/witholding, instead of actual tax burden.

The payroll department likely over-witholds.

(mine does)

You might be right. I also missed that he included Social Security and Medicare. But still, I don't see how anyone could pay 41% as he claims.

Here is a link to his editorial...

http://www.nytimes.com/2011/08/15/opinion/stop-coddling-the-super-rich.html

And here is a link to a CBO report that shows what people actually pay in federal income tax and for all federal taxes including SS and Medicare (Table 2 page 18)...

http://www.cbo.gov/ftpdocs/57xx/doc5746/08-13-EffectiveFedTaxRates.pdf

According to the CBO, for 2010 the top 1% paid an effective rate of 31.2% for all federal taxes. The middle 20% pay 16.1%. So again, where does he pull out this 33-41% claim of his? And yes, his 17% claim for himself is very low if it's for all federal taxes.

I've concluded that Buffett used his payroll statements to draw his conclusions.

Since we all fill out tax returns, we all know that our tax return witholding doesn't match our actual obligation.
(which is why people who look at IRS reports don't agree with Buffett).

Not one of the blithering idiot brigade posting to support Odumbo. The truth must really hurt.

HEARTLESS wrote: Not one of the blithering idiot brigade posting to support Odumbo. The truth must really hurt.

Really annoys you doesn't it when you bait the hook and the fish are too smart to take the bait.

Obviously not that smart. Enter the first of the brigade.

HEARTLESS wrote: Obviously not that smart. Enter the first of the brigade.

:rofl

You insult people, call them names, then wonder why they won't engage in a discussion with you? Obviously, yeah, you aren't that smart.

And yet it continues.

Considering this tatoo for my middle finger and the elite Left.
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Maybe Warren is just senile? He is getting up there in years. I know he has made some bad choices in hires the last couple years.