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Fit and refused to invest because of the elevated tax rates on capital gains and dividends. i didn t refuse, nor did others. i have worked with investors for 60 years, and i have yet to see anyone shy away from a sensible investment because of the tax rate on the potential gain. buffett noted that the tax burden on the super rich has declined significantly in the last 20 years. in 1992, the top 400 american income earners paid 29.2% in taxes. by 2008, that had dropped to 21.5%. while the overall income of the top 400 rose exponentially from $17 billion to $91 billion. buffett proposes as i have for years creating a new tax bracket for incomes above $1 million, and yet another top tax bracket for incomes of $10 million or more. ....
Income taxes shared by the people at the top. look at the tax federal burden, doesn t include just income tax, payroll tax, state and local tax, property taxes, we ve got a chart i want to put up. look at the total tax burden in the united states, the top 1% average until about $1.3 million, earn about 19.4% of the income and pay about 21.5% of total taxes. slightly more than income share but not something the slippery slope to sweden. the middle 20% average income around $55,000 earned 13% of the income, pay around 10% of taxes. bottom 20%, struggling. $17,000, just 2% of the taxes. we don t have a remarkably progressive tax system. you could make an argument we should actually have something somewhat more progressive. i don t understand what s not fair about that and why those who are best off, especially in ....
Switch! he is saying no, no, no. what were you going say, dave? friend to friend. ronald reagan, i mean what was his there were a few things. he was authentic and optimistic, that was the key. so therefore what does a republican candidate need to do to beat barack obama and take this country where it wants to go? got to be able to be not just optimistic but authentic and weave all of the facilities objections together. sean: i agree. we are similar to where we were with jimmy carter. malaise, 21.5% interest rates. inflation out of control. unemployment high and here comes this optimistic guy from california, a great jif an govr and says america is a shining city on the hill. we are the last best great hope for man on this earth. he dropped the top marginal rates from 90 to 28%. lowered taxes. 21 million new jobs. he unleashed american military might. ....
Switch! he is saying no, no, no. what were you going say, dave? friend to friend. ronald reagan, i mean what was his there were a few things. he was authentic and optimistic, that was the key. so therefore what does a republican candidate need to do to beat barack obama and take this country where it wants to go? got to be able to be not just optimistic but authentic and weave all of the facilities objections together. sean: i agree. we are similar to where we were with jimmy carter. malaise, 21.5% interest rates. inflation out of control. unemployment high and here comes this optimistic guy from california, a great jif an govr and says america is a shining city on the hill. we are the last best great hope for man on this earth. he dropped the top marginal rates from 90 to 28%. lowered taxes. 21 million new jobs. he unleashed american military might. ....
Switch! he is saying no, no, no. what were you going say, dave? friend to friend. ronald reagan, i mean what was his there were a few things. he was authentic and optimistic, that was the key. so therefore what does a republican candidate need to do to beat barack obama and take this country where it wants to go? got to be able to be not just optimistic but authentic and weave all of the facilities objections together. sean: i agree. we are similar to where we were with jimmy carter. malaise, 21.5% interest rates. inflation out of control. unemployment high and here comes this optimistic guy from california, a great jif an govr and says america is a shining city on the hill. we are the last best great hope for man on this earth. he dropped the top marginal rates from 90 to 28%. lowered taxes. 21 million new jobs. he unleashed american military might. ....