Buffett then reiterated his call to raise the tax rate on capital gains, which would increase the income-tax rate paid by the wealthy.
FORBES: Warren Buffett Is Right On Taxes -- But It Is Not About Fairness
And he promises not to increase the share of income tax paid by low- and middle-income households.
Since Nigel Lawson lowered the top tax rate from 60% to 40% in 1988, the share of total income-tax revenues paid by the top 5% of taxpayers has shot up.
The self-assessment returns from January, when most income tax is paid by the better-off, have been eagerly awaited by the Treasury and government ministers as they provide the first evidence of the success, or failure, of the 50p rate.
He also hailed moves to take millions of low-paid workers out of income tax, freeze council tax bills and deliver the largest-ever increase in the state pension.
SNP's plans to put 1p on the basic income-tax rate paid by Scots, in effect annulling the tax cut promised by Mr Brown for next year.
The top 1% represented 13.3% of all pre-tax income and paid 38.7% of all Federal income taxes in 2009 (July 2012 CBO Report, Distribution of Household Income and Federal Taxes 2008 and 2009).
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Under the Bush dividend plan, however, corporations can pass along tax-exempt income to investors only to the extent that they have paid corporate income tax.
Kennedy, high-income people paid more tax revenues into the federal treasury after tax rates went down than they did before.
Another advantage is that reform could sweep a lot of low-paid people out of income tax altogether.
ECONOMIST: The Conservatives toy with a politically risky idea
He calls for a massive boost in domestic demand, with income-tax cuts for the lowest paid.
Either way, your real estate holdings are taxed on a pass-through basis: no income tax is paid at the property level, and you pay personal income tax at ordinary income rates.
This shadow tax system, created in 1969 to make sure fat cats with oil wells paid some tax, now hits upper-middle-income folks who claim too many deductions for ordinary stuff like state and local taxes.
Just as cities, states and other institutions using tax-free bonds to finance their operations will vehemently oppose the proposal to reduce by 25% the amount of the interest paid by municipalities that is now treated as tax-free income.
Mr Brown has simplified some things for example, by aligning the national insurance and income-tax systems for the low-paid but has made others more complex.
Since employer-paid health insurance is exempt from income tax, there's an incentive for these plans to cover things like sunglasses and marital counseling.
The paper goes on to suggest that, even including other non-income taxes, the tax rate Depardieu claims to have paid is preposterous.
In the second scenario, however, we modeled a revenue-neutral plan that eliminated the taxes-paid deduction and municipal bond exemption while lowering income tax rates across the board.
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Besides, since the acquiring company was private, any stock given to our employees would come with an income tax liability that could not be paid by selling non-public stock.
But it would also cut across another new policy, which imposes income tax for the first time on many low-paid workers, a plan which most economists expect will kill off up to 1m jobs.
Over the past 80 years, despite multiple movements in marginal rates up and down, the top 1% of earners paid an ever-increasing share of the total Federal income tax burden reaching its highest point at 40% after the Bush tax cuts and most recently representing 38.7% of total Federal income tax in 2009.
That works out to an average federal income tax bite of 17%--the lowest rate paid by the richest 400 during the 15-year period covered by the IRS statistics.
Gov. Romney paid his full self-employment tax (FICA and Medicare) on his material business income.
FORBES: Mitt Romney Is Hardly A Pig When It Comes To Tax Deductions
How could you cut tax rates and still increase the share of taxes paid by upper-income Americans relative to middle-class Americans?
Since that would benefit only the half of French workers who have to pay income-tax, his equivalent bonbon for about 9m low-paid was to lower the rate at which they would have to pay two charges levied on all workers to help pay for health and unemployment insurance.
Most of his income is from a disability policy and is tax-exempt because he paid for the policy out of his own pocket.
In 2005, 7, 389 high adjusted-gross-income (AGI) return filers paid no U.S. income tax, up from just 2, 833 in 2004.
Mr Clegg said the coalition had helped low paid families by taking many of them out of income tax and increasing the number of pre-school children getting free childcare.
For years they enjoyed their off-season vacations, paid the mortgage out of rental income, and got a tax break, all while building equity in an appreciating asset.
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