Message Font: Serif | Sans-Serif
No. of Recommendations: 3
Yes and no. I agree that tax policy is set as a society and therefore we all have a say in how each other live our lives. Therefore, poor people will be able to dictate the taxes of the rich, and vice versa. The problem I have is that Buffett says one thing and lives his own life by a different standard.

Question for you. Like just about all states, my state is facing enormous financial strains. And the governor has sworn that tax increases are not an option. I think that we simply have to raise taxes in order to fulfill our social obligations. (Yes, I do believe that we have social obligations to each other. Staunch libertarians can stop listening at this point.)

That having been said, when I filled out my tax returns I took all the deductions to which I am legally entitled. And when I was filling out my state tax returns I was rather surprised to see an optional tax rate. The statutory tax rate was 5.3% or I could pay 5.8% instead. (Not sure if those numbers are exactly right, but they're reasonably close.) I paid the lower, statutory rate, although I would vote for a tax increase.

I also donated to charity an amount vastly greater than the entirety of my state taxes.

Am I a hypocrite?

(This is a real question. I will think you're a bit odd if you say "yes" but I won't be offended.)

Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.