D Peter Maus wrote:

Consider also, that Warren Buffett pays less tax on his income legally
because, among other things, he is a powerful and broad employer. He's
responsible hundreds of thousands of jobs. He runs businesses. Invests
his money.

He's earned his wealth.

To suggest that taxation is insufficient for the rest of us, as he has
repeatedly in the last 15 years, is an arrogance he has not earned.


"In the late 1800's and early 1900's there was a group of super
wealthy American capitalist known as the Robber Barons. Our elected
leaders realized that if they did not pass some major legislation the
Robber Barons would eventually own every inch of land in America and our
founding fathers vision of an egalitarian democratic republic would be
destroyed, and our Constitution would be worthless. So in 1913 they
passed the sixteenth amendment to the Constitution and a highly
progressive tax system.

This new highly progressive tax system also included an estate tax.
The highly progressive estate tax forced the Robber Barons to decide
between paying a large tax bill to the government at their death, or
giving a lot of their wealth away to charities, school, libraries,
foundations, hospitals, research institutes, and other organizations
that would benefit our society as a whole. And they ended up doing both
to the great benefit of American society.

Our current economic success and the growth of the middle class is
a direct consequence of these progressive tax legislative actions.
However, a new group of Robber Barons has emerged and they, like the
first Robber Barons, are threatening our democracy. These new Robber
Barons have successfully lobbied our political leaders, with campaign
contributions and political infiltrators, and they have gotten
legislation passed that has changed our progressive tax system into a
regressive tax system that is full of special interest provisions and
tax loopholes.

As a result of these regressive changes the average middle class
worker now pays a higher percentage of their income in taxes than does
the average millionaire, and the average billionaire pays an even
smaller percentage.

Adjusted gross income


Tax rate


Components of tax rate
$0 to $8,200

15.3%
15.3% payroll, 0% income tax
$8,201 to $15,500

25.3%
15.3% payroll, 10% income tax
$15,501 to $37,900

30.3%
15.3% payroll, 15% income tax
$37,901 to $80,150

40.3%
15.3% payroll, 25% income tax
$80,151 to $90,000

43.3%
15.3% payroll, 28% income tax
$90,000 to $158,350

30.9%
2.9% Medicare, 28% income tax
$158,351 to $334,650

35.9%
2.9% Medicare, 33% income tax
Over $334,650

37.9%
2.9% Medicare, 35% income tax

(The table was published in the Dallas Morning News on 5/18/2005
and it shows that a single self-employed individual who makes around
$80k per year is paying a higher percentage of their income in taxes
then someone making over $330k per year.)"

http://fixco1.com/bushtaxsystem.html