Obama’s American Jobs Act – Lies and Falsehoods
Falsehood #1 Warren Buffet does not pay less taxes than his secretary like Obama keeps preaching. Here’s what people don’t understand and Obama is misleading those who believe him; Warren Buffet pays Capital Gains tax. His secretary pays Federal Income tax. They are two very different things because they earn their money in two very different ways. A capital gains tax (CGT) is a tax charged on capital gains, the profit realized on the sale of a non-inventory asset that was purchased at a lower price. The most common capital…
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