Wednesday, April 16, 2014
PLACERVILLE, CALIFORNIA
99 CENTS

Cutting taxes … say what?

EDITOR: The Democrat editorial mocking President Obama’s speech turned quickly to the “nonsensical” Buffet rule. The editor states that “(Buffet’s) capital gains were already taxed at 35 percent as corporate profits before being distributed to shareholders…”

Here’s a flash. Capital gains are not distributed by corporations. They are realized by investors who sell shares at a profit. If Warren Buffet as an individual investor buys a shirt company for $100 million and later sells it for $500 million he has made a gain on his capital of $400 million, on which he must pay a tax. The tax rate for this, however is only 15 percent, while his secretary may pay up to 30 percent on her labor. Buffet says that is not fair. Does the Democrat agree? Have you ever filled out Schedule D Form 1040?

HARRY MERCADO
Lotus

Letters to the Editor

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Discussion | 20 comments

  • cookie65February 25, 2013 - 11:11 am

    In your example, Buffet's original $100 million investment is after tax money (already been taxed), his investment is risk capital which he puts up at risk and "if" he profits on it pays a smaller percentage by law to ensure future "venture capital" which business operates on. I find it interesting how Buffet says one thing, gets lots of attention from leftists, and turns around and does another. http://www.forbes.com/sites/realspin/2012/11/30/buffetts-billions-cant-buy-him-exemption-from-his-tax-averse-past/

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  • T69807February 25, 2013 - 9:00 pm

    Mr. Mercado, if Buffett really does pay a lower tax rate than his secretary, someone who wanted to promote the general welfare would talk about lowering all secretaries' tax rates. But the only proposal we hear from the left is to raise Buffett's. Can you explain why liberals are so often more interested in sticking it to the rich than in helping the average person?

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  • Dink LaneFebruary 26, 2013 - 11:06 am

    Abraham Lincoln--Dec. 3, 1861: LABOR is prior to, and independent of, Capital. CAPITAL is only the fruit of labor, and could NEVER HAVE EXISTED if labor had not FIRST existed. LABOR is the SUPERIOR of capital, and deserves much the higher consideration. .......... The "Free-Market (rigged) Capitalism" is NOT superior to the REAL people who built this country ........ "Free-Market (rigged) Capitalism" sucks OUT the wealth and leaves LABOR to support this country and Capitalist walk away from any responsibility to this country....

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  • cookie65February 26, 2013 - 1:22 pm

    Dink, to a leftists capital is what obama prints, confiscates or borrows. Rigged capitalism is what you get when leftists like obama throw away taxpayers money on the green energy. Just because other people are successful and you are not doesn't mean anything is rigged, it only means they work harder and actually have marketable skills, products, ideas, intellect, or products. You have the same freedom they have you just either chose not to do anything with it or no conciders your enlightenment as a marketable skill.

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  • cookie65February 26, 2013 - 1:29 pm

    no "one considers" your enlightenment as a marketable skill. Translation; you don't possesss what others are willing to pay for. Maybe you can claim to be part native American so you can get some advancement that your intellect can't provide like elizabeth warren. The leftists have created a whole bunch of rules to allow the unqualified like you to advance thru life.. Look at obama and the entire democrat party.

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  • Dink LaneFebruary 26, 2013 - 3:33 pm

    Cookie where do you get this stuff? Leftist capital? Yes, as a matter I am 1/4th Native American (My father always said: "AMERICAN Injun.") He never took a dime "as part of his heritage." And for the Record, Neither did Sen. Warren. .... I just heard Sen. Warren ask Bernanke about the $83 BILLION in SUBSIDIES (Taxpayer's $$$$) that went ONLY to the BIG Banks....not the smaller ones ... She asked him: "Does this makes the big-wall-street-Banks TOO BIG TO FAIL with tax $$$ holding them up?" Bernanke said: "They think so." Warren: "Why is no one stopping this?" Bernanke: "Congress [Not Pres. Obama] has not passed anything to fix that."..... Cookie...Get the "Hate" out of your eye, and look at the REAL FACTS..... Corp Greed is across PARTY LINES...both sides of Congress have their hands in the cookie jar... As long as they have us, the public, divided.... Wall-Street-Banks WINS!... Stop looking at Ideology...and analyze the facts... You're smart. You can do it if you want to.

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  • cookie65February 26, 2013 - 4:24 pm

    Dink, the reason government gets away with this stuff is because government is toooooo big. It is really that simple. It has to be cut down to size. Government is in everyones business all the time. It has people so busy not breaking any rules that they pay no attention to what the government is doing. The rich didn't steal our money the government did. And they continue to do so everyday. You think the system is rigged, well it is. It goes to the highest bidder and even our whitehouse is for sale. elizabeth warren used her makebelieve heritage to gain unearned advancement, just another criminal getting rich on the taxpayers back. http://freebeacon.com/chuck-todd-on-ofa-fundraising-this-just-looks-bad/ did you read the stuff about the fed and what they were doing with the big banks and as usual who is paying for it? http://www.bloomberg.com/news/2013-02-20/why-should-taxpayers-give-big-banks-83-billion-a-year-.html obama owns this, but they will blame Bush and the media will do as they are told.

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  • Jack MartinFebruary 26, 2013 - 4:25 pm

    Senator Warren may not have accepted federal dollars because of her claimed (but thoroughly debunked) native American lineage, but she sure as HELL used it to springboard her career in the politically correct circles of Academia. http://www.washingtonpost.com/blogs/fact-checker/post/everything-you-need-to-know-about-the-controversy-over-elizabeth-warrens-claimed-native-american-heritage/2012/09/27/d0b7f568-08a5-11e2-a10c-fa5a255a9258_blog.html

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  • cookie65February 26, 2013 - 4:30 pm

    Elizabeth Warren used a made up heritage to gain advancement she did not earn. That is why the left came up with affermative action so they could all use made up stuff to get ahead with earning it. The fed dealings with the big banks is just another scam the taxpayers are getting the shaft over. The rich didn't steal our money the government did. You think the system is rigged. Well it is, if you are a big liberal donor you get a free pass. Not exactly the way obama was sold is it? He is as corrupt as any politician ever elected in this country and he gets a total pass as long as they can keep people believing they will get something for free. http://freebeacon.com/chuck-todd-on-ofa-fundraising-this-just-looks-bad/

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  • cookie65February 26, 2013 - 4:32 pm

    Here is another sham the taxpayers are paying for. http://www.bloomberg.com/news/2013-02-26/fed-faces-explaining-billion-dollar-losses-in-stress-of-qe3-exit.html

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  • cookie65February 26, 2013 - 4:34 pm

    Here is another one. This one is about all the fed workers paid not to work. http://www.realclearmarkets.com/articles/2013/02/26/to_cut_government_spending_lay_off_the_loafers_100161.html

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  • cookie65February 26, 2013 - 4:36 pm

    Here is part of your "rigged" system. Apple gives lots of money to the left and Exxon is the evil of our time, yet Exxon paid nearly twice as much as apple in taxes last year.http://energy.aol.com/2013/02/07/exxon-paid-roughly-twice-the-income-tax-as-apple-last-year/

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  • cookie65February 26, 2013 - 4:39 pm

    Here is obama and the fed billing the tax payers and the middle class. You voted for it. http://www.bloomberg.com/news/2013-02-20/why-should-taxpayers-give-big-banks-83-billion-a-year-.html

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  • cookie65February 26, 2013 - 4:41 pm

    Did you know obama exempted himself from the sequester? http://cnsnews.com/news/article/obama-s-paycheck-exempted-sequester

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  • cookie65February 26, 2013 - 4:53 pm

    Here is a little reality check on elizabeth warren. She is as phony as obama and the clintons. Like them she talks about looking out for the "little guy" while she lines her pockets. http://legalinsurrection.com/2012/10/elizabeth-warren-obtained-federal-fee-waivers-despite-high-6-figure-income-and-8-figure-net-worth/

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  • James E.February 26, 2013 - 5:43 pm

    Update on my little boy Mr.Fred: Just out of surgery. Remembering that this is a little 6lb dog, he had on his spleen a growth the size of a lemon, two growths the size of cherries, and a growth on his lymph node the size of a olive. All removed. No biopsy yet, but must assume cancer. Currently in recovery with his blood pressure rising and falling. If his heart doesn't stop, we will provide chemo when he recovers from the surgery. At least he got through his surgery. Hoping for the best.

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  • James E.February 26, 2013 - 5:50 pm

    Not the best time for me, but I do want to comment on Elizabeth Warren. PACER provides fee waivers for academic research based on her standing as a law professor. This was reported before the last election and the voters chose her, so this is much ado about nothing. Elizabeth, give those bankers Hell and keep giving it to them.

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  • James E.February 26, 2013 - 5:54 pm

    To the best of my knowledge and belief, I have no American Indian relatives, nor have I requested any waivers.

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  • cookie65February 26, 2013 - 8:31 pm

    James, so far so good with your little friend, hoping for the best. They are tough little dogs and too easy to become attatched to.

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  • Phil VeerkampFebruary 26, 2013 - 9:05 pm

    James, I wanted to construct a limerick about Fred to cheer you up. But there's so little to work with . . . aforesaid, ahead, airhead, beachhead, bed bedspread bedstead behead bighead biped blackhead bled blockhead blood-red bloodshed bobsled bonehead bread bred bridgehead bulkhead bullhead coed cornbread cowshed crossbred daybed deadhead dog-sled dread egghead embed farmstead fathead fed flatbed flathead fled forehead Fred gainsaid godhead half-bred head hogshead homestead hotbed hothead inbred instead lead led lunkhead masthead misled misread moped outspread pinhead plead pothead premed proofread purebred read red redhead reread retread roadbed said seabed seedbed shed shortbread shred sickbed skinhead sled snowshed sorehead spearhead sped spread stead subhead sweetbread swellhead thread towhead tread unfed unsaid unwed warhead wed well-read wellhead whitehead widespread wingspread woodshed zed . . . so little to work with!

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