Buffett Tax Hype- Use Our Interactive Graph to See Hype for Yourself

Mike Shedlock

Given all the hype from President Obama and Warren Buffet on "fair tax rates" (see Obama evokes Reagan in Touting Buffett Rule), inquiring minds are asking the critical question: Does the US have a spending problem or a tax problem?

Rather than offer my own opinion, I will let you make the call. You can set whatever tax rate you want for the "Buffett Rule" all the way up to a tax rate of 100% on the following interactive Tableau display.

Mike Shedlock

Mike Shedlock is a registered investment advisor representative for Sitka Pacific Capital Management.

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7 Comments So Far

Blair31 Wrote: Apr 14, 2012 8:19 PM

1 and 2. Flagged.

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MoreFreedom Wrote: Apr 13, 2012 7:25 PM

Does the Buffet rule really only apply to those making over 1 million/yr? It seems Obama refers to couples making more than 250,000/yr as "millionaires and billionaires." Obama misleads at best, and mostly lies.

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scott s. Wrote: Apr 13, 2012 4:02 PM

The IRC has three definitions of income: gross income, adjusted gross income, and taxable income. Unless you specify which version of income you are referring to it is impossible to determine the applicability of any "rate". In the code, tax rates are generally applied to taxable income. But in many cases, the difference between gross income and taxable income is dependent of the amount of gross income, as many credits, adjustments, and deductions are gross-income limited.

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David9 Wrote: Apr 13, 2012 12:06 PM

The only problem is that Warren Buffet only pays taxes on 100,000 dollors a year where as his secrtay pays taxes on 500,000 that is the true lie that fails to be told or understood.Thank You for the graph though I like the colors best.

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Prof Shadow Wrote: Apr 13, 2012 8:14 AM

Republicans understand "give to get" but Democrats only understand "lie to get."

Any deal that Republicans make with Democrats needs to be put in effect immediately, not as a promise for something in the future.

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Buffett Tax Hype- Use Our Interactive Graph to See Hype for Yourself

Mike Shedlock

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