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Karma Police · 12-02-2006, 12:47 AM

"I personally think that society is responsible for a very significant percentage of what I've earned."

— Warren Buffett, CEO of Berkshire Hathaway

"Self-serving stories of 'self-made' success may nourish the ego, but they mask the real ingredients of wealth creation and a strong economy. Where would the Forbes 400 be without public investment and infrastructure – from Google founders building on the Internet to Ross Perot and government contracts?"

—Chuck Collins, co-founder of Responsible Wealth

ResponsibleWealth.org - Forbes 400 Richest Americans: They Didn't Do It Alone

Kevin G is correct that we don't have a flat tax and that our system is extraordinarily complex. I said "somewhat of a flat tax," because the following two features make the overall tax on income much less progressive than many people suggest: (i) application of employment/self-employment taxes primary to earnings of less than about $90,000, and (ii) 15% tax rate on capital gains and dividend income.

12-02-2006, 12:47 AM	#18 (permalink)
Karma Police Member Join Date: Nov 2006 Posts: 44	"I personally think that society is responsible for a very significant percentage of what I've earned." — Warren Buffett, CEO of Berkshire Hathaway "Self-serving stories of 'self-made' success may nourish the ego, but they mask the real ingredients of wealth creation and a strong economy. Where would the Forbes 400 be without public investment and infrastructure – from Google founders building on the Internet to Ross Perot and government contracts?" —Chuck Collins, co-founder of Responsible Wealth ResponsibleWealth.org - Forbes 400 Richest Americans: They Didn't Do It Alone Kevin G is correct that we don't have a flat tax and that our system is extraordinarily complex. I said "somewhat of a flat tax," because the following two features make the overall tax on income much less progressive than many people suggest: (i) application of employment/self-employment taxes primary to earnings of less than about $90,000, and (ii) 15% tax rate on capital gains and dividend income. Last edited by Karma Police; 12-02-2006 at 12:56 AM.