A Quote by Warren Buffett

If you look at the Forbes 400, they are paying a lower rate, accounting payroll taxes, than their secretary or - whomever around their office.

Warren Buffett

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Accounting Around Forbes Look Lower Office Paying Payroll Payroll Tax Rate Secretary Taxes Than

Quote Author

Warren Buffett
American - Businessman
Born: August 30, 1930

I've never had it so good in terms of taxes. I am paying the lowest tax rate that I've ever paid in my life. Now, that's crazy. And if you look at the Forbes 400, they are paying a lower rate, accounting payroll taxes, than their secretary or whomever around their office. On average. And so I think that actually people in my situation should be paying more tax. I think the rest of the country should be paying less.

Howard Warren Buffett

Just look at that Forbes 400. Takes a billion three to get on the Forbes 400 this year. And the aggregate wealth is just staggering. And those people are paying less percentage of their total income to the federal government than their receptionists are. [...] I'll bet a million dollars against any member of the Forbes 400 who challenges - me that the average for the Forbes 400 will be less than the average of their receptionists.

Warren Buffett

When you say the tax system benefits the rich, there are a lot of people who respond, "That can't be true, look at the rate of tax. The people who are rich pay a higher rate than you or I." Well, yeah, but if you don't have to pay taxes on a lot of your income, then your real tax rate is a lot lower. And if you're allowed to pay your taxes thirty years from now instead of today then you're a lot better off. People need to have a sophisticated understanding of how the system works to appreciate that the posted tax rate really has very little to do with the taxes people pay.

David Cay Johnston

The left does understand how raising taxes reduces economic activity. How about their desire for increasing cigarette taxes, soda taxes? What are they trying to do? Get you to buy less. They know. They know that higher taxes reduce activity. It's real simple: If you want more of an activity, lower taxes on it. If you want less of an activity, raise taxes. So if you want more jobs? It's very simple. You lower payroll taxes. If you don't want as many jobs, then you raise corporate taxes. It's that simple, folks.

Rush Limbaugh

It's really a question of fairness and what kind of country we're going to live in. There are 22,000 people making over $1 million. They're paying an effective tax rate in the teens. As Warren Buffett said, he pays less in taxes effectively than his secretary does. That's not right.

David Plouffe

Taking a shuttle or even paying for a taxi to a rental office that's a few miles away from the airport can mean a lower rate - 50 percent lower is common - for the same car, from the same company, for the same length of time. Many companies run free shuttles from some of the major airports.

Jean Chatzky

I want to have a tax on people who are making a million dollars. It's called the Buffett rule. Yes, Warren Buffett is the one who's gone out and said somebody like him should not be paying a lower tax rate than his secretary. I want to have a surcharge on incomes above $5 million.

Hillary Clinton

The reality is that the workforce relative to the number of people retired has shrunk and today in America there are only 3.3 working Americans paying payroll taxes to support each individual currently retired and collecting Social Security taxes.

John Shadegg

First, the oil and gas business pays its fair share of taxes. Despite the current debate on energy taxes, few businesses pay more in taxes than oil and gas companies. The worldwide effective tax rate for our industry in 2010 was 40 percent. That's higher than the U.S. statutory rate of 35 percent and the rate for manufacturers of 26.5 percent.

John S. Watson

People want just taxes more than they want lower taxes. They want to know that every man is paying his proportionate share according to his wealth.

Will Rogers

I'm making a lot of money. I should be paying a lot more taxes. I'm not paying taxes at a rate that is even close to what people were paying under Eisenhower. Do people think America wasn't ascendant and wasn't an upwardly mobile society under Eisenhower in the '50s? Nobody was looking at the country then and thinking to themselves, "We're taxing ourselves into oblivion." Yet there isn't a politician with balls enough to tell that truth because the whole system has been muddied by the rich. It's been purchased.

David Simon

The revenue stream for Social Security benefits comes from payroll taxes, which are credited to the Social Security Trust Fund - accounting for the program's finances separately from the rest of the budget.

Jerome Powell

I'm all for lifting the payroll-tax cap, if only to make payroll taxes a little less regressive.

Timothy Noah

Citizenship in the 21st century requires more than paying your taxes and voting and occasionally running for office. That even if you're never in political office, you have political responsibilities. You can make your society stronger and better.

William J. Clinton

If Warren Buffett made his money from ordinary income rather than capital gains, his tax rate would be a lot higher than his secretary's. In fact a very small percentage of people in this country pay a big chunk of the taxes.