William F. Buckley Jr. Quotes
I would like to electrocute everyone who uses the word 'fair' in connection with income tax policies.
Buckley, William F., Jr. Right Reason. Doubleday, 1985.
At the time, he, th richest man in America was paying a lower ta rate than his secretary, his employees and the waiter who served him lunch. The “Buffet Rule” was developed and named for him that said that wealthy people should pay a minimum rate of taxation regardless of tax credits, deductions and other means of tax avoidance.
This became known as the Buffet Principle—that the very rich should not pay a lower tax rate than the workers who make far less money than they do. President Barack Obama used this principle by name in calling for the 2011 Jobs Act which would eliminate some of the loopholes and exemptions by which the rich could avoid some or much or their tax obligation.
As a result of years of lobbying many vested interests were getting tax exemptions for their activities. Some of the richest corporations and people paid little or no taxes. This was like the old European monarchies where the dukes and nobles got tax exemptions from the king and the middle class and poor people paid a much larger percentage of their income and wealth than did the nobility. Fairness in taxation is very difficult in practice. See {633629}
He was one of the richest men in America, who thought that the tax burden on the very wealthy was too low given the needs of the nation and the ability of the wealty to pay..
Reacting to proposals to reduce the capital gains tax:
The George W. Bush administration when they had a Republican-controlled Congress, had amended the tax laws to treat the earnings of the hedge fund managers differently from people who manage other enterprises in the nation. They gave a group of very wealthy managers whose earnings were already amongst the highest of any managers in the country a huge tax break, while little public attention was paid to the subtlety of complex tax laws. Daschle and others began to draw public attention to the inequity.
The nation rejected the flat tax that was favored by conservatives in the 1930s. However, in the Republican Presidential Primary Campaign of 2000, candidate Steve Forbes made the flat tax a centerpoint of his campaign. He lost badly, but the idea caught on amongst some conservative Republicans, and has had some support since.
Throughout most of the world, the rich and the aristocrats have been able to reduce or eliminate their tax obligations with the burden falling more heavily on the common people. Progressive taxation was thought to be a solution, but even in the United States by the 21st century many huge corporations paid little or no taxes while there was a heavy tax burden on small companies. Rich people generally paid a smaller percentage of their income than middle class people.
William Frank Buckley Jr. was an American public intellectual and conservative author and commentator. In 1955, Buckley founded National Review, a magazine that stimulated the conservative movement in the late-20th century United States. Buckley hosted 1,429 episodes of the public affairs television show Firing Line (1966–1999), the longest-running public affairs show in American television history with a single host, where he became known for his distinctive Mid-Atlantic idiolect and wide vocabulary.
