The Secretary-Billionaire Tax Equality Principle
Warren Buffett wrote an op-ed recently that suggested that the top 0.3% of yearly earners were paying too little in taxes.
One of his favorite illustrations of this point is that his secretary pays a much higher tax rate that he does.
His prescription is:
- undefined cuts to entitlement programs
- higher taxes on the top 0.3%
The Power of Framing
The idea that a secretary should not pay a higher tax rate than their billionaire boss
is hard to argue with and shows the power of “framing”.
Here’s an other tax framing idea:
It is often said that we don’t want to push the burden of current spending onto future generations.
Reihan Salam: During the Bush years, it was often said that the 2001 and 2003 tax cuts represented redistribution from future taxpayers to current taxpayers.
You might reframe this as:
Those older Americans, who can afford it, should not get a better deal their grandchildren’s generation
But how would Frank Luntz say it?
- John Stewart on Warren Buffett’s Class Warfare:
- Bill Bradley: The big money is in popular tax deductions, built into the tax code
- David Merkel: Warren Buffett is hypocritical on taxes
- Felix Salmon: The dual-taxation meme and Designing a national consumption tax
- Bill Gross: Big cuts almost guarantee a recession (end of video)