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Warren Buffett's Secretary Likely Makes Between $200,000 And $500,000/Year
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Picture of Florida Righty
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quote:
Warren Buffet’s secretary, Debbie Bosanek, served as a stage prop for President Obama’s State of the Union speech. She was the President’s chief display of the alleged unfairness of our tax system – a little person paying a higher tax rate than her billionaire boss.

Bosanek’s prominent role in Obama’s “fairness” campaign piqued my curiosity, and I imagine the curiosity of others. How much does her boss pay this downtrodden woman? So far, no one has volunteered this information.

We can get an approximate answer by consulting IRS data on tax rates by adjusted gross income, which would approximate her salary, assuming she does not have significant dividend, interest or capital-gains income (like her boss). I assume Buffet keeps her too busy for her to hold a second job. I also do not know if she is married and filing jointly. If so, it is deceptive for Obama to use her as an example. The higher rate may be due to her husband’s income. So I assume the tax rate Obama refers to is from her own earnings.

Insofar as Buffet (like Mitt Romney) earns income primarily from capital gains, which are taxed at 15 percent (and according to Obama need to be raised for reasons of fairness), we need to determine how much income a taxpayer like Bosanek must earn in order to pay an average tax rate above fifteen percent. This is easy to do.

The IRS publishes detailed tax tables by income level. The latest results are for 2009. They show that taxpayers earning an adjusted gross income between $100,000 and $200,000 pay an average rate of twelve percent. This is below Buffet’s rate; so she must earn more than that. Taxpayers earning adjusted gross incomes of $200,000 to $500,000, pay an average tax rate of nineteen percent. Therefore Buffet must pay Debbie Bosanke a salary above two hundred thousand.



http://www.forbes.com/sites/pa...0000-and-500000year/


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Posts: 69084 | Location: Sunny Florida | Mbr Since: 10-06-2003Reply With QuoteReport This Post
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So what? Are you directing envy at her?


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Posts: 67438 | Location: Surf City, California | Mbr Since: 10-07-2003Reply With QuoteReport This Post
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More BS.

source

For 25 percent, the next higher tax rate above 15 percent, the salary range is $34,501 - $83,600 for single filers, and $69,001 - $139,350 for married filing jointly.

The Forbes guy's argument is all wet.

Loser   :loser:


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Posts: 11347 | Location: USA | Mbr Since: 10-07-2005Reply With QuoteReport This Post
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Rush Limbaugh says she needs to make her tax returns public.


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Arianna Huffington: Obama’s bin Laden ad “despicable"

Standing in the Way of Big Goverment is Not Standing in the Way of Progress

Barack Obama Is Loud And Makes You Feel Good But It's Only Hot Air! Much Like A Fart!

 
Posts: 69084 | Location: Sunny Florida | Mbr Since: 10-06-2003Reply With QuoteReport This Post
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Rush Limbaugh is my hero.

Charlie, call your CPA and see what he/she thinks of the Forbes guy's analysis.


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Posts: 11347 | Location: USA | Mbr Since: 10-07-2005Reply With QuoteReport This Post
Aavid
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Maybe rush limbaugh needs to make his tax returns public...

quote:
Originally posted by Florida Righty:
Rush Limbaugh says she needs to make her tax returns public.


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whyisit
 
Posts: 27188 | Location: West Coast | Mbr Since: 10-16-2003Reply With QuoteReport This Post
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Debbie Bosanek makes about $60,000 per year and pays over 30% of her income in taxes. It's not secret information--Buffett released that info.

Source:
http://www.washingtontimes.com.../13/buffetts-rebuff/

The Forbes "analyst" is wrong.

Jeff
 
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quote:
Originally posted by Florida Righty:
Rush Limbaugh says she needs to make her tax returns public.
Admit you were wrong, take it back, apologize, and promise to vote for Obama in the general election.


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From Jeff's source:
quote:

... Mr. Buffett also wrote that his secretary, who makes $60,000 a year, pays over 30 percent of her income in taxes. The Internal Revenue Service reports the average tax rate for someone making that amount is 11.6 percent. Even adding on payroll taxes, she isn’t paying anywhere near 30 percent. The simple fact is the middle class isn’t paying higher tax rates than the wealthy. ...


2011 Federal Income Tax Brackets, Rates and Taxable Income Thresholds

For a person earning $60,000.00, Both 2010 and 2011 tax rates are 25 percent. I'm confident Debby Bosanek also pays state and local taxes.

Emily Miller's take ("The IRS reports that reports the average tax rate for someone making that amount is 11.6 percent") is BS.

Don't take my word for it. Ask your CPA.

Gus, Charlie can't hear you. His head's too far up his butt.


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Gregory's conclusion is based on just income tax rates, not payroll taxes, compared to adjusted gross income, not taxable income.
Source


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The Republicans' main complaint is that President Obama hasn't done a good enough job cleaning up Bush's mess.
 
Posts: 16095 | Location: Dacron, Ohio | Mbr Since: 05-19-2004Reply With QuoteReport This Post
Aardent
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Buffett released that info

Has he released his info?
 
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quote:
Originally posted by Zorro:
Has he released his info?

Yep.


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Posts: 11347 | Location: USA | Mbr Since: 10-07-2005Reply With QuoteReport This Post
Aardent
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quote:
Originally posted by CompGuy:
Debbie Bosanek makes about $60,000 per year and pays over 30% of her income in taxes. It's not secret information--Buffett released that info.

Source:
http://www.washingtontimes.com.../13/buffetts-rebuff/

The Forbes "analyst" is wrong.

Jeff
Actually your source doesn't not state that. Your source states that Warren refused to release his return however he claims
quote:

Mr. Buffett also wrote that his secretary, who makes $60,000 a year, pays over 30 percent of her income in taxes.

And what does the IRS have to say about Buffett and obama's wild and unsubstantiated claim?
quote:

The Internal Revenue Service reports the average tax rate for someone making that amount is 11.6 percent. Even adding on payroll taxes, she isn’t paying anywhere near 30 percent.

So we have President Lying dirtbag making claim about two tax returns one of which has never been released, and the other you claim has been released, but I can't find it in the link you claimed contained it. Did I miss it somehow?
 
Posts: 34052 | Location: The Present | Mbr Since: 11-22-2005Reply With QuoteReport This Post
Aardent
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For a person earning $60,000.00, Both 2010 and 2011 tax rates are 25 percent. I'm confident Debby Bosanek also pays state and local taxes.

Comp Guy can tell you what is wrong with your assertion, its a point he has made several times.

Comp Guy, what's wrong with the hamburger face avatar's reasoning here?

The IRS is right. If she is only making $60,000 a year there is no way in hell she is paying an effective taxrate of 30%.

Obama's claim is a monument of crap, we need both these tax returns released if Obama wants to base public policy changes on these two tax returns.
 
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Zorro, you're an a s s h o l e.
Wait... I forgot, you're head is far up your butt, too.
Let me try again.
ZORRO, YOU'RE AN A S S H O L E.


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Zorro, you as usual fail to understand anything about these situations.

I don't quarrel with the IRS numbers for the AVERAGE tax paid. If you're married filing jointly, if you have a mortgage and pay deductible mortgage interest, if you have charitable contributions, retirement funds, medical expenses, etc. etc. you will have many ways to reduce your tax rate. The IRS clearly is talking about the AVERAGE tax rate. The average rate is just that--many people pay more, many people pay less.

For a single person with a salary of $60K per year, the federal tax is $11,131 this year. Source:

http://www.irs.gov/pub/irs-pdf/i1040tt.pdf

Payroll tax is usually 6.2% (reduced this year); Medicare is 1.45%. So, assuming a typical year, that's an additional 7.65% of $60K in taxes, or $4590.00. That brings her taxes above 25%

In many areas, there are also state and local taxes. There are sales taxes. There are property taxes. Doesn't take much to bring her effective tax rate to 30% or more.

That's the point. And you don't have to see tax returns. Those are the numbers.

Zorro, why do you question what are simple facts?

Jeff
 
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quote:
Originally posted by CompGuy:
Zorro, why do you question what are simple facts?

Jeff, you know the answer.
Why do you bother being thoughtful toward him?


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Posts: 11347 | Location: USA | Mbr Since: 10-07-2005Reply With QuoteReport This Post
Aardent
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That brings her taxes above 25%

So to call it thirty percent is clearly an exaggeration by 20%. This isn't a discussion of state and local taxes, it's a discussion of Federal taxes.

Further, Buffett never claimed she was single. He never claimed she had a taxable income of $60,000, according to your source, he said she makes 60,000 a year.

No deductions? Not even her own personal deduction? The IRS is right, there is no way in hell she is paying anythng close to thirty percent. Further, you know that full well. Its almost like you are a lying sack of crap or somethin.

It appears Warren, Obama and his Warren's Secty are all lying their asses off.

They want public tax policy based on their CLAIMS about their returns? Fine, RELEASE THE RETURNS!
 
Posts: 34052 | Location: The Present | Mbr Since: 11-22-2005Reply With QuoteReport This Post
Aardent
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It looks like Buffet is comparing her federal marginal tax rate to his effective tax rate, which is simply beyond bizarre.

They are liars, Obama is a liar, and you do yourself no favors by advocating for such mendacities.
 
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I'm looking forward to every minute of watching righties defending the super rich from now until November.

What a brilliant strategy!


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This isn't a discussion of state and local taxes, it's a discussion of Federal taxes.

Says who? Buffett only talks about "taxes." I've never seen him say he's talking only about federal taxes. Show me a link.

Nebraska has four state tax brackets, with the top bracket being 6.84% for the portion of income over $27K for a single filer. That easily puts her overall taxes over 30%.

quote:
No deductions? Not even her own personal deduction?
The IRS tax table I linked to assumes the taxpayer will take the standard deduction. You don't know that? Have you ever filed a tax return?

quote:
He never claimed she had a taxable income of $60,000, according to your source, he said she makes 60,000 a year.
Obviously he's talking about the salary he pays her, which is taxable. You're being silly.

Plus you keep saying the IRS says he/she are liars. The IRS never made any such statement. And you know that.

So who is lying here? The answer's pretty obvious, isn't it?

Look, I'm pretty sure that Buffett's original statement is based on one thing and one thing only--what he, as her employer, has to withhold from her $60K salary. That includes federal/state/local taxes and payroll taxes. I doubt he's seen his secretary's tax returns. Maybe she pays less; maybe she pays more. It doesn't matter. Buffett's point is the same.

Jeff
 
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Aardent
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quote:
Buffett's original statement is based on one thing
Yup He is a liar. He knows he is a liar, and Obama is a liar too.

There is no way in hell Warren's secretary is paying anything close to 30% in federal taxes even if you throw in her payroll taxes. You know it, I know it, everyone with a brain knows it.

That is why neither will ever release their returns, because then the whole world would know what liars the three of them are. I'm a little surprised that you are defending such an obvious lie with such passion. What's up with that? You know that she not only has a primary residence, but a second residence, so very likely a full schedule b with deductible mortgage interest?

They are lying pure and simple. You know it, I know it, everyone knows it. Such strident defense of an obvious lie just makes you look dishonest yourself. They are not worth you destroying your good character.
 
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GOP bumper sticker:

Support the rich - pay more tax!


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Posts: 67438 | Location: Surf City, California | Mbr Since: 10-07-2003Reply With QuoteReport This Post
Aardent
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So who is lying here? The answer's pretty obvious, isn't it?


Yes. Real Obvious. Buiffet has already said he has an effective taxrate of 17.4%.

Looking over the IRs information, I wouldn't be surprise to find she is paying less than 8%.

http://www.irs.gov/taxstats/in...=96981,00.html#_grp1

Everyone with a brain knows they are lying. RELEASE THE RETURNS!
 
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Originally posted by Dr Chango:
I'm looking forward to every minute of watching righties defending the super rich from now until November.

What a brilliant strategy!
Lower middle class righties like zorro are waging class warfare against themselves.


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The Republicans' main complaint is that President Obama hasn't done a good enough job cleaning up Bush's mess.
 
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