{"id":126,"date":"2004-03-08T20:38:27","date_gmt":"2004-03-08T18:38:27","guid":{"rendered":"http:\/\/meisterplanet.com\/journal\/?p=126"},"modified":"2004-03-08T20:38:27","modified_gmt":"2004-03-08T18:38:27","slug":"tax-cuts-once-again-favor-the-wealthy","status":"publish","type":"post","link":"https:\/\/www.meisterplanet.com\/journal\/2004\/03\/08\/tax-cuts-once-again-favor-the-wealthy\/","title":{"rendered":"Tax cuts once again favor the wealthy &#8230;"},"content":{"rendered":"<p>From the <a href=\"http:\/\/www.omaha.com\/index.php?u_np=0&#038;u_pg=46&#038;u_sid=1026744\">Omaha World-Herald<\/a>:<\/p>\n<div style=\"padding: 20px; margin: 25px; border: 1px solid #696969; background-color: #fffff0;\">Billionaire investor Warren Buffett accused the Bush administration Saturday of pursuing tax cuts that favor business and the wealthy.<\/p>\n<p>&#8220;If class warfare is being waged in America, my class is clearly winning,&#8221; Buffett said in Berkshire Hathaway Inc.&#8217;s annual report.<\/p>\n<p>Corporate income taxes in fiscal 2003 accounted for 7.4 percent of all federal tax receipts, down from a post-war peak of 32 percent in 1952, Buffett said.<\/p>\n<p>With the exception of 1983, last year&#8217;s percentage was the lowest recorded since data was first published in 1934.<\/p>\n<p>&#8220;Even so, tax breaks for corporations (and their investors, particularly large ones) were a major part of the administration&#8217;s 2002 and 2003 initiatives,&#8221; Buffett said. Many large corporations now pay nothing close to the stated federal tax rate of 35 percent, he said.<\/p>\n<p>Berkshire does not hesitate to pay its taxes, Buffett said. It almost certainly is among the country&#8217;s top 10 taxpayers and it will pay $3.3 billion in 2003 corporate income tax, about 2 1\/2 percent of the total income tax to be paid by all U.S. corporations, he said.<\/p><\/div>\n<p>Finally, a billionaire that I can get behind.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>From the Omaha World-Herald: Billionaire investor Warren Buffett accused the Bush administration Saturday of pursuing tax cuts that favor business and the wealthy. &#8220;If class warfare is being waged in America, my class is clearly winning,&#8221; Buffett said in Berkshire Hathaway Inc.&#8217;s annual report. Corporate income taxes in fiscal 2003 accounted for 7.4 percent of &hellip; <a href=\"https:\/\/www.meisterplanet.com\/journal\/2004\/03\/08\/tax-cuts-once-again-favor-the-wealthy\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Tax cuts once again favor the wealthy &#8230;&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-126","post","type-post","status-publish","format-standard","hentry","category-politics"],"_links":{"self":[{"href":"https:\/\/www.meisterplanet.com\/journal\/wp-json\/wp\/v2\/posts\/126","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.meisterplanet.com\/journal\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.meisterplanet.com\/journal\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.meisterplanet.com\/journal\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.meisterplanet.com\/journal\/wp-json\/wp\/v2\/comments?post=126"}],"version-history":[{"count":0,"href":"https:\/\/www.meisterplanet.com\/journal\/wp-json\/wp\/v2\/posts\/126\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.meisterplanet.com\/journal\/wp-json\/wp\/v2\/media?parent=126"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.meisterplanet.com\/journal\/wp-json\/wp\/v2\/categories?post=126"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.meisterplanet.com\/journal\/wp-json\/wp\/v2\/tags?post=126"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}