US INITIATIVE TO ACCEPT WARREN BUFFETT IRD LARGESSE

From time to time advocates of forcing people to pay more taxes say that they would be happy to pay more themselves. Well, why would the state not give those who want to pay more the opportunity to do so? There is no provision in New Zealand’s tax law for people to voluntarily pay more tax than that required. The issue is currently a live one in the United States given Warren Buffett’s recent declaration. The promoters of this proposal reckon that it could clear both Congressional Houses. If it does, there will be considerable interest in the level of voluntary payments of tax.

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One thought on “US INITIATIVE TO ACCEPT WARREN BUFFETT IRD LARGESSE

  1. Actually the Warren Buffetts and Sam Morgans of this world already have the choice to pay more tax. All they need to do is to put all of their capital into pure income earning investments such as bank deposits in their own name rather than investing in businesses and for capital gain, and then they would pay personal income tax on all of their income. It is rank hypocrisy to choose tax-advantageous investments and then complain that they do not pay enough tax.

    Of course, they would argue that it is poor use of their capital to put it all in the bank, and they would be right. We are fortunate that the likes of Warren Buffett invest their capital to create and grow businesses because this benefits us all through jobs, products and services, dividends, etc. This is what they should be telling the public, not stirring up further disaffection by supporting the notion that they don’t pay their share.

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