Warren Buffett's unusual proposal and decision to contribute additional taxes to help pay down the national debt has sparked tremendous controversy. Buffett agreed to donate money to reduce the national debt on one condition; that the Republicans in the Senate do so as well. However, this brings into the light the tax policy towards the rich. Buffett, the CEO and chairman of Berkshire Hathaway, a Nebraskan holding company, is one of the world's wealthiest people, his fortune amassing $45 billion. Yet he pays lower taxes than the secretary of Berkshire Hathaway. Buffett has no feelings towards the debt of the country or its current economic standing as well. If Buffett had concerns over the economic welfare of the United States, he should donate the money to the government and the US Treasury. All that Buffett got out of his act was a legal act - "The Buffett Act", which allows the wealthy to voluntarily contribute to help reduce the national debt. Buffett himself seems to be avoiding paying taxes. Isn't that an IRS tax fraud? Buffett explained that those with the ability to pay more should pay more to their country, yet a man of his power and stature, a man worth $45 billion, is not only unwilling to pay more, but unwilling to pay what he already owes to the country. Presidential candidates are doing so much more than Warren Buffett to help the country.
Warren Buffett's unusual proposal and decision to contribute additional taxes to help pay down the national debt has sparked tremendous controversy. Buffett agreed to donate money to reduce the national debt on one condition; that the Republicans in the Senate do so as well. However, this brings into the light the tax policy towards the rich. Buffett, the CEO and chairman of Berkshire Hathaway, a Nebraskan holding company, is one of the world's wealthiest people, his fortune amassing $45 billion. Yet he pays lower taxes than the secretary of Berkshire Hathaway. Buffett has no feelings towards the debt of the country or its current economic standing as well. If Buffett had concerns over the economic welfare of the United States, he should donate the money to the government and the US Treasury. All that Buffett got out of his act was a legal act - "The Buffett Act", which allows the wealthy to voluntarily contribute to help reduce the national debt. Buffett himself seems to be avoiding paying taxes. Isn't that an IRS tax fraud? Buffett explained that those with the ability to pay more should pay more to their country, yet a man of his power and stature, a man worth $45 billion, is not only unwilling to pay more, but unwilling to pay what he already owes to the country. Presidential candidates are doing so much more than Warren Buffett to help the country.
ReplyDelete