This sounds good for Obama as his policies are a miserable failure! Taxing the rich, those who employ, will do nothing to decrease the national debt, but only sound good on the campaign trail!
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Warren Buffett Says "Tax the Rich More"
- Thread starter Jagger69
- Start date
This sounds good for Obama as his policies are a miserable failure! Taxing the rich, those who employ, will do nothing to decrease the national debt, but only sound good on the campaign trail!
This is the first and most likely the last time I will ever agree with Facetious but in my opinion he's dead right on this. Warren Buffett is the "god father" of PR and spin.
Actions speak louder than words. If he had any real intention of paying more tax he'd have already started sending the cheques to the IRS. I'll bet he hasn't and I don't think he ever will. That's why he's richest man in the world. :2 cents:
:yesyes: :yesyes: :yesyes:
Yea, tax the rich sounds like an Obama campaign message. It will not even dent the deficit! Taxing the rich only penalizes those that do any hiriing in the us! Obama is a disaster!
^ I believe here is what you Americans call the smoking gun. :yesyes: :yesyes: :yesyes: :thumbsup:
In a recent interview on BBC's hardtalk, Steve Forbes was asked his opinion of mr buffets more tax claim.
Steve Forbes said: "if mr buffet feels he's under taxed there is a program of the us treasury dept, I've sent him the address, where you can send in money as gifts to the us goverment, if you feel you're not paying enough. I haven't seen him or the other billionaires do that yet."
So it appears buffet has already been called out by one of his own super rich home boyz.
If you are able to watch BBC programmes you can watch the whole interview.
http://www.bbc.co.uk/programmes/b013pkqv
I'd say you are correct Facetious. Now quit whilst you're ahead and close your account.
Here's how it works.
They are screwing us folks. Let's start a revolution right here at Freeones.
:yesyes: :yesyes: :yesyes: :thumbsup:
In a recent interview on BBC's hardtalk, Steve Forbes was asked his opinion of mr buffets more tax claim.
Steve Forbes said: "if mr buffet feels he's under taxed there is a program of the us treasury dept, I've sent him the address, where you can send in money as gifts to the us goverment, if you feel you're not paying enough. I haven't seen him or the other billionaires do that yet."
So it appears buffet has already been called out by one of his own super rich home boyz.
If you are able to watch BBC programmes you can watch the whole interview.
http://www.bbc.co.uk/programmes/b013pkqv
I'd say you are correct Facetious. Now quit whilst you're ahead and close your account.
Here's how it works.
They are screwing us folks. Let's start a revolution right here at Freeones.
:yesyes: :yesyes: :yesyes: :thumbsup:
Facetious
Moderated
Here's how it works.
They are screwing us folks. Let's start a revolution right here at Freeones.
:yesyes: :yesyes: :yesyes: :thumbsup:
It filters, doesn't it?
It filters, doesn't it?
:dunno:
Like Buffet, I'm just a poor billionaire pretending I want to pay more taxes. LOL
:yesyes: :yesyes: :yesyes: :thumbsup:
Well Buffet will profit from higher taxes. He has insurance companies that directly deal with rich clients trying to put money in tax exempt investment instruments. So I think old Buffet knows exactly who benefits from Higher taxes.
And that persons name is ding ding ding Warren Buffet.
And that persons name is ding ding ding Warren Buffet.
You think this is all a stunt to increase his own wealth when he's already one the richest men in the world and has given 98% of it away to charity....Christ!
It really sickens me to see how many people think of taxes as a punishment. A lot of rich people come from wealthy families and are therefore afforded opportunities to better themselves through higher quality education and acquire higher paying jobs. Do you think the middle class teacher is lazier than some corporate manager who makes 10 times the salary?
Taxes are about paying what one can reasonably afford to pay....the more you make, the more you can afford. And no economist in the world thinks the U.S. can cut its way out of its deficit, the nation must raise taxes.
This is an example of people working for their own selfinterest. Warren Buffet is no different. If money meant nothing to Warren, he would have quit after he made his first billion or the 2nd billion. Warren and the companies he has invested in spend millions on tax lawyers, so they can find ways to pay as little taxes as possible.
So do i believe that Warren has developed a new love for paying taxes? Na ill go with the self interest because whatever way you slice it. Its a win win for Warren. If Taxes are raised Warren's companies get more business. If they arnt raised his companies dont have to pay more. Hell if Warren wants to pay more in taxes, he cant pay more. You are allowed to give the IRS money if you want.
As far as the rest of your statement is concerned. A corporate manager makes a whole lot of people, a whole lot of money and that is why the Corporate manager is payed alot more than a Teacher. That is the same reason sports stars are given millions.
As far as the deficit is concerned. Of course you can cut it without raising taxes. You can just freeze spending at this years levels and you will have a balanced budget in very little time. I dont know which marxist economist you have been listening to. But really, it is possible to not raise taxes and balance the budget, its not rocket science.
Total strawman, where did Buffett even imply that 'money meant nothing to him'.
Actually, this has been Buffett's stance on taxes for years.
He wasn't asking why they get paid more but making the point that people work just as hard without an eye on the payscale.
Wrong.
From the CBO.
And WTF is a Marxist economist. And if it was so easy how come Republican administrations have such a hard time balancing budgets even during economic expansions.
Reply to AccountantNot.
My post was a responce to someone elses comments and not a responce to Warren Buffet's article directly. Come on pay attention.
Bottom line is simple. Higher Taxes or taxes at the same level Warren comes out on top.
About the CBO chart, You got to provide a bit more information about the 2 charts. You cants just throw 2 charts and quote the source as the CBO and expect it to be as if its the word of God himself. Produce more information about the charts and what methods and assumptions were used in its construction etc.
Lastly i assume you have a computer, go on google and type in Marxist economics and that will tell ya what a Marxist economist is. As far as republicans are concerned, they havent balanced the budget because they are tax and spenders just like the democrats. The Bush admin was proof that repubs like spending just as much as the dems.
My post was a responce to someone elses comments and not a responce to Warren Buffet's article directly. Come on pay attention.
Bottom line is simple. Higher Taxes or taxes at the same level Warren comes out on top.
About the CBO chart, You got to provide a bit more information about the 2 charts. You cants just throw 2 charts and quote the source as the CBO and expect it to be as if its the word of God himself. Produce more information about the charts and what methods and assumptions were used in its construction etc.
Lastly i assume you have a computer, go on google and type in Marxist economics and that will tell ya what a Marxist economist is. As far as republicans are concerned, they havent balanced the budget because they are tax and spenders just like the democrats. The Bush admin was proof that repubs like spending just as much as the dems.
Not to be a interjecting, Buzz Killington there d/k but the man produced CBO charts for you. Since you're the one with reservations after he's produced a quite credible, sensible, easy to understand set of charts...you don't think the onus is on you (with questions of methodology) to find this out then challenge his charts with them?I don't know accountantNOT that well, but from what I see of him, I doubt he'd be inclined to waste time on that suggestion since it doesn't appear to have anything to do with what he's asserted.:dunno: JMO.
I don't know accountantNOT that well, but from what I see of him, I doubt he'd be inclined to waste time on that suggestion since it doesn't appear to have anything to do with what he's asserted.:dunno: JMO.
Well i figured the guy who produced the Chart knows the methodology used by the Charts producers, which is why i assume he supports there projections. So i figured it would be just simpler to ask him. But to your point that the onus is on me to research the methodology of the chart is false. The onus is on the producer of the study or chart (in this case) to explain the methodology used to come to a certain conclusion. Its not the job of the reviewers to find out what methodology the producer used. This is basic for any level of discussion.
Lastly he asked wtf was a marxist economist. Based on what he said i assumed he dosnt know what a marxist economist is. But whatever, its no big deal.
First off, he does what he does cause he loves it, most people that become that successful don't do it for the money. How long ago could Bill Gates, Steve Jobs, Larry Page, or Sergey Brin have retired with billions? They kept on going even after becoming wealthy because they love what they do...same as Buffett.
I agree that corporate managers deserve higher wages, my point was that they can afford to payer a larger amount in taxes than say a teacher who makes less, it's not punishing them for being wealthy, it's more of a responsibility of those that have more to 'help out' with government costs.
Cutting the budget....with the new 1 trillion in cuts by the end of the year and with the other 1.5 trillion in cuts over the next 10 years the deficit is still expected to reach 26.5 trillion by 2021. Tell me what you would have to cut to not only keep from spending another 12 trillion over the next 10 years but also how to reduce the current deficit of 14.6 trillion. You want to talk economics, buddy I have a Master's in Economics. No government has EVER cut its way out of such a large deficit (in terms of % of GDP). It's not socialism, is realism.
So in your world paying more taxes is a patriotic duty? Where have i heard that line before (oh yeah Joe Biden). But the problem with that argument is that govt cost increase at a rate where even a 100% tax on the Rich will not help. My concern is at what point do you say "we cant tax the rich anymore"? What would be a fair tax rate for the "rich" in your view? Now i ask this question of anyone who says the "Rich" need to be taxed more. And so far iv gotten numbers like 95%, 40%, 35%, 60%, 75% etc. It seems like what people consider a "Fair" tax rate for the "Rich" is different for folks.
You have a masters Degree in Economics, thats wonderful (a keynesian i assume). You can like i said before, freeze spending at the current levels for 2011. On an economic level that will work, but on a political level it may not. No govt has cut its way out of deficits because cutting is often political suicide. Look at Greece, they are absolutly broke and even then they are unable to cut. Why? because the people who are dependant on the govt programs will never stand for the govt funding to stop. And there is the small little problem with growing govt to a point where you either callapses under its own weight or turns into a Command economy.
LOL yeah Warren lets start with the mega corporations that are bigger than countries and pay hardly any taxes
First off, I am definitely not 'Keynesian', I happen to work for a major Canadian bank. I agree that taxing alone will not reduce or eliminate the deficit, but neither will cutting alone, it will be a combination of the two. In Canada, the average tax rate (it varies from province to province) for the those in the highest tax bracket is 32%, much higher than in the U.S. Being one of those in the highest bracket I can safely say that we are not taxed unfairly.
What do you mean freeze at the current levels? The current levels are already deficit spending.
Greece would be the worst example to use, they have (or had) social programs that were down right idiotic (ie - pension programs that paid out 100% of salary in a lot of cases) and had to make major spending cuts. Instead of arguing why there need to be taxes, I'd love for you to tell us where to make major cuts in spending....education, Social Security, MediCare? How about all those old people that keep insisting on getting government money? Should you just cut those crazy socialists off?
And why is that relevant? I was responding to your post regarding Buffett's motives, it was never about Buffett's opinion piece.
You should really read the opinion piece, that's exactly what he is arguing against.
The chart showed a comparision between the different tax structures, the highlight being that getting rid of Bush tax cuts will go a long way in getting rid of the deficits.
You can read the full CBO report here.
http://cbo.gov/ftpdocs/122xx/doc12212/06-21-Long-Term_Budget_Outlook.pdf
Again, what has 'Marxist economists' to do with raising taxes. What's the point of googling irrelevant bullshit like that.
Supafly
Retired Mod
Way too many people react like Pavlov's Dog to keywords. We had this in other threads
Czar, Socialist, Elite, Nazi, ...
Add 'Marxist Economist'
It does not matter if you are left, right, middle, whatever, you either have the numbers right, or you have the numbers wrong :2 cents:
Do the top, let's say 5% get extreme tax breaks?
Let us listen to some pros on this...
:2 cents:
Czar, Socialist, Elite, Nazi, ...
Add 'Marxist Economist'
It does not matter if you are left, right, middle, whatever, you either have the numbers right, or you have the numbers wrong :2 cents:
Do the top, let's say 5% get extreme tax breaks?
Let us listen to some pros on this...
:2 cents:
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