The Rich Want to Pay More Taxes

[popeyespappy]

What is the realistic answer though? "Government" and "fiscal responsibility" don't go together.

That is the answer. The people need to hold the government responsible for the fiscal policy they implement. A good start would be campaign reform that takes the money out of politics in order to make the politicians beholden to the voters as opposed to the corporate dollars they are currently obligated to.

Now about the video in the OP. Yes Warren Buffet is effectively taxed twice on his corporate holdings. He does however reap a huge benefit through corporate ownership. He is personally protected from financial obligations incurred by the corporation beyond the limits of his stock holdings. I would be perfectly fine with doing away with corporate taxes if two conditions are first met. First that any individual income realized from corporate holdings be taxed as regular income. The second is the biggie. It is the one that I don't think Buffet or any other stock holder on the planet would be willing to give up. That is give up the legal immunity granted to stock holders for being financially responsible for the actions of the corporation. Because basically that is all a corporation is. It is a legal entity with the ability to enter into bindings contracts just like an individual. The difference between a corporation and a sole proprietorship or partnership is protection of the owners from liability. Corporate taxes are the cost share holders pay for that protection. Otherwise a corporation would just be a partnership without the personal liability.