Buffet's inaccurate assessment of taxes

Reading the editorials is fascinating and at the same time is amazing to realize the lack of knowledge or information one has when they counterattack another individual's writings. In the Dec. 13 letters, Mike Krueger of Carol Stream decides to take Mr. Opal of Wheaton to task by supporting Warren Buffet's claim that he pays less taxes than his secretary. In fact, Krueger writes, "That, Mr. Opal is what is idiotic"!

Idiotic is the lack of understanding where Buffet's comment is coming from. You see, Buffet is talking about his capital gains tax rate against his secretary's income taxes. Buffet's income comes from his investments, not a salary. Therefore, it qualifies him for the capital gains rate of 15 percent … this is no different than if his secretary made her money off investments only.

However, as we taxpayers know, the income tax rates are higher dependent on one's income. Therefore, in dollars, Buffet paid much more to the government than his secretary but the percentage was less. His statement that "he pays less taxes than his secretary" is misleading at best.

Then, Krueger generalizes what other liberals have been spewing for years about the Bush tax breaks being for the rich. This is disingenuous. The tax breaks implemented by Bush have benefited all levels of income and have brought in more federal revenues than past tax increases.

Although I agree with Krueger on the middle class being taxed too high, I do not agree with him on a progressive tax system. How can one believe, due to another individual's greater success, that the government has rights to a higher percentage of their money. This, Mr. Krueger, is idiotic!

Personally, I believe everyone should pay equally and support a flat tax rate for income taxes. This will eliminate the convoluted tax structure today and assure that the more you make the greater amount of income taxes you pay. Now that is fair and equal!

Carl Palash

Carol Stream