McCain was complaining about Obama's plan to "just" give tax cuts to those making under $250,000. He couldn't see why EVERYONE couldn't get a tax cut.
As the floor went to Obama, I said aloud, "Bring up Warren Buffett," who has famously pooh-poohed the idea of giving tax breaks and cuts to the rich. From 2007:
Buffett cited himself, the third-richest person in the world, as an example. Last year, Buffett said, he was taxed at 17.7 percent on his taxable income of more than $46 million. His receptionist was taxed at about 30 percent.Anyway, you know what happened next. Obama brought up Buffett.
Buffett said that was despite the fact that he was not trying to avoid paying higher taxes. "I don't have a tax shelter," he said. And he challenged Congress and his audience to see what the people who "clean our offices" are taxed, to loud applause.
Before that, I had no idea the debates were interactive.
2 comments:
I'm so glad to know that Obama is plugged in to the Bitty brain!
How did Buffet only pay 17.7% tax, though? (I wonder how much Cindy pays.)
I suspect that he meant that without going out of his way to take advantage of "tax shelters," he nevertheless had a lot of things to take advantage of in the tax code that his receptionist did not.
(I wonder how much Cindy pays.)
Not one penny more than she must. I can't remember if the McCains ever released tax returns or not.
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