{"id":11646,"date":"2011-10-13T17:35:16","date_gmt":"2011-10-13T21:35:16","guid":{"rendered":"http:\/\/cfif.org\/v\/freedom_line_blog\/?p=11646"},"modified":"2011-10-13T17:35:26","modified_gmt":"2011-10-13T21:35:26","slug":"buffett-discloses-taxes-turns-out-he-paid-more-than-the-middle-class-after-all","status":"publish","type":"post","link":"https:\/\/cfif.org\/v\/freedom_line_blog\/11646\/buffett-discloses-taxes-turns-out-he-paid-more-than-the-middle-class-after-all\/","title":{"rendered":"Buffett Discloses Taxes &#8211; Turns Out He Paid More Than the Middle Class After All"},"content":{"rendered":"<p>So Warren Buffett, who <a href=\"http:\/\/cfif.org\/v\/index.php\/commentary\/43-taxes-and-economy\/1112-warren-buffet-hypocritical-and-factually-incorrect-in-calling-for-higher-taxes\" target=\"_blank\">falsely claims<\/a> that the wealthiest Americans pay lower tax rates than their receptionists, finally got around to disclosing (some) of his tax information.<\/p>\n<p>It turns out that he paid approximately <a href=\"http:\/\/online.wsj.com\/article\/SB10001424052970204002304576627420875519978.html?mod=ITP_moneyandinvesting_0\" target=\"_blank\">$7 million<\/a> in federal income taxes from a taxable income of approximately $40 million.\u00a0 That&#8217;s approximately 17.5%, substantially more than the 12% rate paid by the middle quintile of taxpayers in America, according to the <a href=\"http:\/\/taxpolicycenter.org\/\" target=\"_blank\">Tax Policy Center<\/a>.\u00a0 Interestingly, Buffett&#8217;s $40 million taxable income was also significantly smaller than his total $63 million in gross income, but he apparently didn&#8217;t bother to explain that $23 million gap.<\/p>\n<p>On top of all that, Buffett also apparently didn&#8217;t explain why he took any deductions at all, or why he didn&#8217;t simply pay more to the federal government if he felt that he was undertaxed.\u00a0 Nobody is stopping him from putting his money where his mouth is, after all.\u00a0 So the evidence suggests that Buffett is not only incorrect, but hypocritical.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>So Warren Buffett, who falsely claims that the wealthiest Americans pay lower tax rates than their receptionists, finally got around to disclosing (some) of his tax information. It turns out that he paid approximately $7 million in federal income taxes from a taxable income of approximately $40 million.\u00a0 That&#8217;s approximately 17.5%, substantially more than the [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[3124,3127,3126,24,3125,71],"class_list":["post-11646","post","type-post","status-publish","format-standard","hentry","category-posts","tag-buffett","tag-buffett-rule","tag-fair-share","tag-obama","tag-rich","tag-taxes"],"_links":{"self":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/11646","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/comments?post=11646"}],"version-history":[{"count":2,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/11646\/revisions"}],"predecessor-version":[{"id":11648,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/11646\/revisions\/11648"}],"wp:attachment":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/media?parent=11646"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/categories?post=11646"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/tags?post=11646"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}