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May 20, 2013

Richard A. Serrano: Is Meir Kahane's assassin now a changed man?

Hannan Adely: Town raises Palestinian flag at City Hall

Melissa Healy: Genetic copies of living people from embryos no longer science fiction
Morgan Housel: When smart investors do stupid things

Sharon Saloman, M.S., R.D.: Hunger games: Eat more, weigh less, without starving

Jewz in the Newz by Nate Bloom : Jews Inducted into Rock Hall of Fame; Anton Yelchin co-stars in New "Trek" film; Kutcher (but not Kunis) visits Israel; Jewish TV Star Praises Jewish Rap Star

The Kosher Gourmet by Cathy Pollak: WARNING: This WALNUT CAKE WITH PRALINE FROSTING, perfect for afternoon coffee, is addicting
May 13, 2013

Rabbi Nathan Lopes Cardozo: Why the giving of the document that would permanently change the world could only be done in desolation

David G. Savage: Church-state, literally? Supreme Court weighing public school graduation in a church

Emily Alpert: Recession dragged down birth rates for less-educated women
Morgan Housel: The deep downside of home ownership

Peter Teffer: Will Dutch police soon be stalking cybercriminals on your computer?

Heidi McIndoo, M.S., R.D.: Meatless 'meat' can have its own set of problems

The Kosher Gourmet by Diane Rossen Worthington: Celebrate! This must-try appetizer is delicate yet has depth of flavor: Corn-Leek Cakes with Caviar, Smoked Salmon and Creme Fraiche

May 10, 2013

Rabbi Berel Wein: Be all that you should be

Caroline B. Glick: The dirty little secret about Israel's Arabs

Mona Charen: Hawking's Moral Calculus: The man and the movement he embraces
Morgan Housel: The biggest retirement myth ever told

Sandi Doughton: Eyes may provide new insight into brain problems

Jewz in the Newz by Nate Bloom : The Great Gatsby's Jewish Ties; Jews in the "Time 100 list" List; People's Most Beautiful Women

The Kosher Gourmet by Linda Gassenheimer: A sweet-hot meal: Pear salsa spices up salmon

May 8, 2013

Peter Ford: Why China is welcoming both Israel's Netanyahu and Palestinians' Abbas

Warren Richey: Obama administration quietly backs out of appeal over new contraceptive mandate

Fred Weir: At Kerry-Putin meeting, US-Russia relations thaw --- a tad
Amanda Paulson: Study reveals sad truths about community colleges

Harvard Health Letters: Evidence weak that zinc, echinacea are beneficial

The Kosher Gourmet by Leela Cyd Ross : Almost too pretty to eat, this colorful salad with Sicilian inspiration will tickle the taste buds and delight your visual sensibility

May 6, 2013

Edmund Sanders and Patrick J. McDonnell: Think Israel's objective in Syria is to weaken Assad or embolden the rebels? Think again

Brian Bennett: Israeli airstrikes may show weakness in Syrian defense

Michael Ollove: Millions of ex-felons, parolees and those on probation are about to be entitled to tax-payer paid health coverage
Karen Kaplan: Most men can skip PSA test for prostate cancer, urologists say

Kimberly Lankford: How to track down a lost life insurance policy

Dream of Mars exploration achievable, experts say

The Kosher Gourmet by Susan M. Selasky: EGGPLANT WRAPS are an easy, sumptuous and scrumptious meal

May 3, 2013

Rabbi Nathan Lopes Cardozo: Human Courage and the Unavoidable, Disturbing Text

Steven Emerson: Attorney General Fights CAIR in Court, Lauds it in Public

Mediterranean diet helps beat dementia: study
Harvard Health Letters: When to be screened for a hearing problem

Jewz in the Newz by Nate Bloom : Iron Man's Jewish Connections; Marc Maron's New TV Show; Martin Landau Grows Up with Israel; Shalom, Allan Arbus

The Kosher Gourmet by Diane Rossen Worthington: A sweet surprise for Mother's Day dessert

May 1, 2013

Jonathan Rosenblum: An Improbable Journey to Orthodoxy

Jonathan Tobin: Blame Obama, Not Israel for Syria Push

Kids, kittens the Same? With employee perks at struggling Internet pioneer Yahoo! it's hard to tell
Halena M. Gazelka, M.D.: Mayo Clinic Medical Edge: What you need to know about implanted pain relief devices

Sandy Kleffman: Artificial kidney offers hope to patients tethered to a dialysis machine

Jessica Shugart: When it comes to math, MRIs may be better than IQs

The Kosher Gourmet by Mario Batali: The celebrated chef on how high-maintenance ASPARAGUS RISOTTO need not be

April 29, 2013

Roy Gutman: Poland's new Jewish museum celebrates life, doesn't revisit Holocaust

Mark Clayton: Terrorism in America: Is US missing a chance to learn from failed plots?

Kim Murphy: Boston Bomber's 'Svengali' Revealed
Morgan Housel: He's rich, smart and old: Listen to him

Thomas Salinas, D.D.S.: Mayo Clinic Medical Edge: The safety of amalgam fillings

Harvard Health Letters: Tomatoes and stroke protection

Pete Spotts: Tiny satellites + cellphones = cheaper 'eyes in the sky' for NASA

The Kosher Gourmet by Diane Rossen Worthington: Swing into spring with lemon cream pie

April 26, 2013

Rabbi Abraham J. Twerski: The world is a mirror

Caroline B. Glick: Time to confront Obama

Clifford D. May: Defense in the Age of Jihadist Terrorism
Kimberly Lankford: New strategies ease pain of paying for long-term care insurance

Howard LeWine, M.D.: Ask the Harvard Experts: Too much ibuprofen?

Sharon Palmer, R.D.: How to feel your best -- with plenty of energy, a healthy weight and optimal mental and physical function -- without driving yourself batty

Jewz in the Newz by Nate Bloom: Jewish Major Leaguers, 2013; New Movies and Comedy Show; Shalom, 'Lumpy' (Leave it to Beaver)

The Kosher Gourmet by Emily Ho : A bright and cheerful salad to herald the warmer months ahead

April 24, 2013

Steven Emerson: Boston Bomber Exposes Islamist Secret

Morgan Housel Admit it: No one has any idea what's going on
Harvard Health Letters: Can you get headaches from headache medication?

Kerri-Ann Jennings, M.S., R.D.: How to easily get more Omega-3s in your diet

Melissa Healy: Pot in a pill: All the pain relief without the smoke

The Kosher Gourmet by Susan Russo: Chipotle Chili Butternut Squash Soup is bold, zesty, hot

April 22, 2013

Ken Dilanian: Counterterrorism's future is unclear

US man departing country arrested on terror charges
Barbara Williams: An unorthodox but growing treatment in a 9-year-old's battle against cancer

P.J. Skerrett, M.D.: How to recognize a good whole grain product

Jewz in the Newz by Nate Bloom: Teen actor Jonah Bobo in New Flick: Hunky James Wolk on Mad Men; Erich Segal's Daughter Writes Prize-Winning Jewish Novel


Jewish World Review July 5, 2007 / 19 Tamuz, 5767

Billionaire Warren Buffett — a case of the guilts?

By Larry Elder


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http://www.JewishWorldReview.com | Whatever happened to Warren Buffett, the world's third-richest man? Guilt, a feeling of being blessed by luck, forgotten lessons — who knows? In any case, Buffett now believes that government should redistribute the wealth earned by others to those who did not earn it.


"Buffett Blasts System That Lets Him Pay Less Tax Than Secretary" blared a recent headline. Huh?


At a Hillary Rodham Clinton fundraiser speech before 400 movers and shakers, Buffett denounced our tax system. According to Buffett, he pays taxes at a lower tax rate than does his $60,000-a-year secretary, 17.7 percent and 30 percent, respectively. But Buffett has long been sympathetic toward big government. Buffett joined the informal "advisory board" of then California gubernatorial candidate Arnold Schwarzenegger, who became governor because his predecessor tripled the car tax. Incredibly, Buffett promptly urged an increase in California property taxes. Buffett also opposes repeal of the estate tax, considering it unfair for generation after generation to retain wealth, presumably preventing those in the lower classes (where he came from) from rising up.


But let's examine the assertion that Buffett pays a higher tax rate than does his secretary.


Buffett says he earned $46 million in 2006, with a tax rate of 17.7 percent — all, says Buffet, without attempting to avoid paying higher taxes. But his income clearly places him in the highest federal income tax bracket — 35 percent — but the same "non-avoidance" tax rules allow ample deductions and credits. Surely a man like Buffet can claim buckets-full, to say nothing of possible business losses and capital gains inherent in his line of work. So he probably reached the 17.7 percent rate without any monkey business. Fair enough. Whip out your calculator. First, Buffett, on his $46 million a year, paid — at his 17.7 percent rate — over $8 million in taxes.


Now let's deal with his secretary, whom he claims pays his or her taxes at a 30 percent rate. Buffett, in his speech, provided no details about the secretary. But even with minimal deductions, the highest possible federal tax bracket for a single person earning $60,000 a year is 25 percent. We don't know whether Buffett's secretary is married, a homeowner or renter, or has children.


Let's suppose Buffett's secretary is a single person, a renter, no kids, and makes no IRA contribution (or any other gross income adjustments) and claims the standard deductions. This scenario places the secretary in the highest possible income tax bracket. But after the standard deduction ($5,150) and one personal exemption ($3,300), the secretary's taxable income becomes $51,550 — the 25 percent tax bracket. This means the secretary pays $9,439 in taxes — or 15.7 percent of the $60,000 annual income. Assuming the secretary lives in Nebraska (where Buffett is headquartered), with its highest income tax bracket at 6.84 percent, the secretary pays $2,663 to the state, or another 4.4 percent of the $60,000. Altogether, this gives the secretary a total tax rate of 20.1 percent.


Throw in one kid under 17 years of age, and a $4,000 contribution to an IRA, and this single parent secretary — still renting and claiming the standard deduction — now has a taxable income of $41,850. With one child tax credit, secretary pays $4,814 in federal income taxes, just 8 percent of the $60,000-per-year income. Single-parent secretary also pays $2,076 in income taxes to Nebraska, for a total of 11.5 percent of the $60,000 per year annual income.


Now suppose we're talking about a married secretary, with a stay-at-home spouse. They file jointly, pay a home mortgage and have two kids under the age of 17. They place $4,000 in an IRA and itemize $15,000 in deductions. Here the tax picture changes dramatically. Taxable income drops to $27,800 — the 15 percent tax bracket. With child tax credits, secretary now pays $1,419 in federal taxes, or 2.4 percent of $60,000. Add in another 2 percent for $1,218 in state taxes, and secretary pays a grand total, state and federal, of 4.4 percent on the $60,000-a-year salary.


An online search of Buffett's comments found not a single news story (as opposed to an editorial) questioning his assertion that he pays a higher tax rate than does his secretary.


During his speech, Buffett also explained why he became a Democrat. Republicans, he says, think, "I'm making $80 million a year. God must have intended me to have a lower tax rate." Interesting. Does Buffett know that Republicans donate more money to charity than do Democrats? In his book "Who Really Cares," author Arthur Brooks explains why. Republicans believe in limited government, and therefore feel the responsibility to help the needy falls on their shoulders. Additionally, the Republican Party contains more religious people than the Democratic Party, and the religious give more than their non-religious counterparts.


Maybe G-d wants lower income tax brackets in order to provide more disposable income. That way people can — as Buffett does — give more to the needy.

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JWR contributor Larry Elder is the author of, most recently, "Showdown: Confronting Bias, Lies and the Special Interests That Divide America." (Proceeds from sales help fund JWR) Let him know what you think of his column by clicking here.

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