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Warren Buffett - 8/15/2011 5:40:55 AM   
anniezz338


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Status: offline 		http://news.yahoo.com/stop-coddling-super-rich-buffett-084140678.html


(Reuters) - Billionaire Warren Buffett urged U.S. lawmakers to raise taxes on the country's super-rich to help cut the budget deficit, saying such a move will not hurt investments.

"My friends and I have been coddled long enough by a billionaire-friendly Congress. It's time for our government to get serious about shared sacrifice," The 80-year-old "Oracle of Omaha" wrote in an opinion article in The New York Times.

Buffett, one of the world's richest men and chairman of conglomerate Berkshire Hathaway Inc , said his federal tax bill last year was $6,938,744.

"That sounds like a lot of money. But what I paid was only 17.4 percent of my taxable income - and that's actually a lower percentage than was paid by any of the other 20 people in our office. Their tax burdens ranged from 33 percent to 41 percent and averaged 36 percent," he said.

Lawmakers engaged in a partisan battle over spending and taxes for more than three months before agreeing on August 2 to raise the $14.3 trillion U.S. debt ceiling, avoiding a U.S. default.

"Americans are rapidly losing faith in the ability of Congress to deal with our country's fiscal problems. Only action that is immediate, real and very substantial will prevent that doubt from morphing into hopelessness," Buffett said.

Buffett said higher taxes for the rich will not discourage investment.

"I have worked with investors for 60 years and I have yet to see anyone - not even when capital gains rates were 39.9 percent in 1976-77 - shy away from a sensible investment because of the tax rate on the potential gain," he said

"People invest to make money, and potential taxes have never scared them off."


Gotta luv this guy :)

< Message edited by anniezz338 -- 8/15/2011 5:58:32 AM >

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RE: Warren Buffet - 8/15/2011 5:45:55 AM   
MrRodgers


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quote:

ORIGINAL: anniezz338

http://news.yahoo.com/stop-coddling-super-rich-buffett-084140678.html

Gotta luv this guy :)

Yes, I have posted a few of his comments. He is correct of course but isn't it funny how for partisan value back in the day he was/is the 'Oracle from Omaha' but now according to many on the right these days...has allegedly gone of his meds or worse.

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RE: Warren Buffet - 8/15/2011 6:00:28 AM   
anniezz338


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Status: offline 		If that's the case, Congress needs to get off their meds :)

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RE: Warren Buffet - 8/15/2011 6:28:57 AM   
ArizonaBossMan


Posts: 380
Joined: 2/9/2011
Status: offline 		OK, lets start taxing buffet and that "most wanted criminal" soros first. You can confiscate the "rich" income ONCE and it is STILL a drop in the bucket in what your president has buried us under. YOu leftists and your class warfare. That's all you have. Separate people by race, by religion, by economic status. Yet more reasons I'm not a leftists. That and of course, I'm not mentally ill. But it is appealing... to be able to wake up knowing you only have to EMOTE. Never think. No need to be logical. Just EMOTE. That's the every day life of a leftist. Novebmer 2012 muchachos, is coming soon but not soon enough. Still plenty of damage your O'ding'ster can do.

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RE: Warren Buffet - 8/15/2011 6:49:40 AM   
Lucylastic


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Status: offline 		you just proved you are polarizing the divide. you are worse than most. you just dont see it, blind fool..


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RE: Warren Buffett - 8/15/2011 7:07:48 AM   
tj444


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quote:

ORIGINAL: anniezz338

Buffett said higher taxes for the rich will not discourage investment.

"I have worked with investors for 60 years and I have yet to see anyone - not even when capital gains rates were 39.9 percent in 1976-77 - shy away from a sensible investment because of the tax rate on the potential gain," he said

"People invest to make money, and potential taxes have never scared them off."

umm, if they can find sensible investments elsewhere and pay less tax at the same time, that is where rich money will flow. Thats how Ireland was able to grow as fast as it did for many years.

I find it very interesting that he hasnt had a problem with it for 60 years while he accumulated his vast fortune. Btw, no one stopped him from giving an extra donation every year to the IRS if he really wanted to, the IRS would certainly take it. lol I doubt he would be this rich or have started or bought as many businesses or have created as many jobs if he didnt have the same profits he had been able to make.

Regardless, imo, congress wont change anything cuz those guys are fairly rich too (not gazillionaires like Buffet tho) and they dont want to pay more themselves.

jmo

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RE: Warren Buffett - 8/15/2011 7:16:42 AM   
rulemylife


Posts: 14614
Joined: 8/23/2004
Status: offline 		I was just going to post this too.

Glad I checked first.




< Message edited by rulemylife -- 8/15/2011 7:31:03 AM >

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RE: Warren Buffet - 8/15/2011 7:25:12 AM   
rulemylife


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Joined: 8/23/2004
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quote:

ORIGINAL: ArizonaBossMan

OK, lets start taxing buffet and that "most wanted criminal" soros first. You can confiscate the "rich" income ONCE and it is STILL a drop in the bucket in what your president has buried us under. YOu leftists and your class warfare. That's all you have. Separate people by race, by religion, by economic status. Yet more reasons I'm not a leftists. That and of course, I'm not mentally ill. But it is appealing... to be able to wake up knowing you only have to EMOTE. Never think. No need to be logical. Just EMOTE. That's the every day life of a leftist. Novebmer 2012 muchachos, is coming soon but not soon enough. Still plenty of damage your O'ding'ster can do.


That's right, you keep being a stable hand and cleaning up horseshit while you complain about how badly the rich are treated.

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RE: Warren Buffet - 8/15/2011 7:29:03 AM   
Owner59


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From: Dirty Jersey
Status: offline
quote:

ORIGINAL: ArizonaBossMan

OK, lets start taxing buffet and that "most wanted criminal" soros first. You can confiscate the "rich" income ONCE and it is STILL a drop in the bucket in what your president has buried us under. YOu leftists and your class warfare. That's all you have. Separate people by race, by religion, by economic status. Yet more reasons I'm not a leftists. That and of course, I'm not mentally ill. But it is appealing... to be able to wake up knowing you only have to EMOTE. Never think. No need to be logical. Just EMOTE. That's the every day life of a leftist. Novebmer 2012 muchachos, is coming soon but not soon enough. Still plenty of damage your O'ding'ster can do.


I though conservatives were aganst special rights for a select few.

What happened?

How about we tax all rich people the same?

You know,equally and fairly across the board,no special rights.

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RE: Warren Buffet - 8/15/2011 7:35:15 AM   
BamaD


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Status: offline 		The Buffet statement ignores the key point.   The higher the tax rate the less they have to invest.

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RE: Warren Buffet - 8/15/2011 7:35:32 AM   
rulemylife


Posts: 14614
Joined: 8/23/2004
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quote:

ORIGINAL: Owner59


quote:

ORIGINAL: ArizonaBossMan

OK, lets start taxing buffet and that "most wanted criminal" soros first. You can confiscate the "rich" income ONCE and it is STILL a drop in the bucket in what your president has buried us under. YOu leftists and your class warfare. That's all you have. Separate people by race, by religion, by economic status. Yet more reasons I'm not a leftists. That and of course, I'm not mentally ill. But it is appealing... to be able to wake up knowing you only have to EMOTE. Never think. No need to be logical. Just EMOTE. That's the every day life of a leftist. Novebmer 2012 muchachos, is coming soon but not soon enough. Still plenty of damage your O'ding'ster can do.


I though conservatives were aganst special rights for a select few.

What happened?

How about we tax all rich people the same?

You know,equally and fairly across the board,no special rights.


That's where you are mistaken.

We have to favor the wealthy so they bestow their benefits upon us.

Conservative economics 101.

< Message edited by rulemylife -- 8/15/2011 7:37:04 AM >

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RE: Warren Buffet - 8/15/2011 7:37:26 AM   
Hillwilliam


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Joined: 8/27/2008
Status: offline
quote:

ORIGINAL: ArizonaBossMan

OK, lets start taxing buffet and that "most wanted criminal" soros first. You can confiscate the "rich" income ONCE and it is STILL a drop in the bucket in what your president has buried us under. YOu leftists and your class warfare. That's all you have. Separate people by race, by religion, by economic status. Yet more reasons I'm not a leftists. That and of course, I'm not mentally ill. But it is appealing... to be able to wake up knowing you only have to EMOTE. Never think. No need to be logical. Just EMOTE. That's the every day life of a leftist. Novebmer 2012 muchachos, is coming soon but not soon enough. Still plenty of damage your O'ding'ster can do.

Every time someone suggest cutting out one of the Republican's 'sacred cows, you hear the same mantra. "Oh, don't cut that, that's just a drop in the bucket"

Dont tax the wealthy, that's just a drop in the bucket.

Don't cut corporate welfare, that's just a drop in the bucket.

Don't cut agribusiness subsidies, that's just a drop in the bucket.

Don't cut oil business subsidies, that's just a drop in the bucket

Dont make defense cuts, that's just a drop in the bucket.

Don't cut ethanol subsidies, that's just a drop in the bucket.

and on and on and on and on and on.

Well, if you put enough drops in a bucket, guess what happens?

YOU FILL THE FUCKING BUCKET TO THE BRIM!

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RE: Warren Buffet - 8/15/2011 7:43:05 AM   
rulemylife


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quote:

ORIGINAL: BamaD

The Buffet statement ignores the key point.   The higher the tax rate the less they have to invest.


If you had bothered to read the whole link you would have found he very clearly stated that the tax rate had no bearing on investments.

But I'm sure your net worth is far greater and you know much better.

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RE: Warren Buffet - 8/15/2011 7:45:39 AM   
MrRodgers


Posts: 10542
Joined: 7/30/2005
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quote:

ORIGINAL: ArizonaBossMan

OK, lets start taxing buffet and that "most wanted criminal" soros first. You can confiscate the "rich" income ONCE and it is STILL a drop in the bucket in what your president has buried us under. YOu leftists and your class warfare. That's all you have. Separate people by race, by religion, by economic status. Yet more reasons I'm not a leftists. That and of course, I'm not mentally ill. But it is appealing... to be able to wake up knowing you only have to EMOTE. Never think. No need to be logical. Just EMOTE. That's the every day life of a leftist. Novebmer 2012 muchachos, is coming soon but not soon enough. Still plenty of damage your O'ding'ster can do.

What you have described here is the repub political game plan since Nixon's second term...divide and conquer. Fact is...you have no facts, just claims and charges that of course...have no foundation in reality.

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RE: Warren Buffet - 8/15/2011 7:46:27 AM   
Owner59


Posts: 17033
Joined: 3/14/2006
From: Dirty Jersey
Status: offline 		What about all those hundred of thousands of jobs the bush tax cuts are generating?

Oh that`s right,we keep paying through the nose for tax cuts for millionaires and aren`t getting the jobs......

What that definition of crazy again?

Doing something that fails over and over again,expecting a better result.

Yup.....crazy.

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RE: Warren Buffet - 8/15/2011 7:56:34 AM   
flcouple2009


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quote:

ORIGINAL: Owner59
What about all those hundred of thousands of jobs the bush tax cuts are generating?


We're still waiting on those.


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RE: Warren Buffett - 8/15/2011 7:59:53 AM   
MrRodgers


Posts: 10542
Joined: 7/30/2005
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quote:

ORIGINAL: tj444


quote:

ORIGINAL: anniezz338

Buffett said higher taxes for the rich will not discourage investment.

"I have worked with investors for 60 years and I have yet to see anyone - not even when capital gains rates were 39.9 percent in 1976-77 - shy away from a sensible investment because of the tax rate on the potential gain," he said

"People invest to make money, and potential taxes have never scared them off."

umm, if they can find sensible investments elsewhere and pay less tax at the same time, that is where rich money will flow. Thats how Ireland was able to grow as fast as it did for many years.

I find it very interesting that he hasnt had a problem with it for 60 years while he accumulated his vast fortune. Btw, no one stopped him from giving an extra donation every year to the IRS if he really wanted to, the IRS would certainly take it. lol I doubt he would be this rich or have started or bought as many businesses or have created as many jobs if he didnt have the same profits he had been able to make.

Regardless, imo, congress wont change anything cuz those guys are fairly rich too (not gazillionaires like Buffet tho) and they dont want to pay more themselves.

jmo

BTW, he has had a problem with the federal tax regime and has spoken about it for years. He is talking more now because of the risk to that regime the repubs bring to the market and that they are going to mess things up with their debt limit threats.

Also, I am willing to bet that Warren Buffet has not created one new net job in decades if at all. He profits by often purchasing private businesses, advertising and going public.

Whether private or public, his acquisitions involve, cash, stock and as often, debt. The debt service means other costs are reduced and often covered by, you guessed it...layoffs.

Oh, and the Irish did what we did, created a bubble economy with easy money, cut business and corporate taxes, (which prompted only a few to relocate there) grew real fast in building and financial operations and now are really, really paying for it all...just like us, only worse.

< Message edited by MrRodgers -- 8/15/2011 8:05:26 AM >

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RE: Warren Buffett - 8/15/2011 8:20:13 AM   
anniezz338


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quote:

ORIGINAL: MrRodgers

Whether private or public, his acquisitions involve, cash, stock and as often, debt. The debt service means other costs are reduced and often covered by, you guessed it...layoffs.



So let's NOT tax the rich and keep the layoffs. Lose/lose......there's genius at work. Pfffft

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RE: Warren Buffett - 8/15/2011 8:55:47 AM   
tj444


Posts: 7574
Joined: 3/7/2010
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quote:

ORIGINAL: MrRodgers
BTW, he has had a problem with the federal tax regime and has spoken about it for years. He is talking more now because of the risk to that regime the repubs bring to the market and that they are going to mess things up with their debt limit threats.

Also, I am willing to bet that Warren Buffet has not created one new net job in decades if at all. He profits by often purchasing private businesses, advertising and going public.

Whether private or public, his acquisitions involve, cash, stock and as often, debt. The debt service means other costs are reduced and often covered by, you guessed it...layoffs.

Oh, and the Irish did what we did, created a bubble economy with easy money, cut business and corporate taxes, (which prompted only a few to relocate there) grew real fast in building and financial operations and now are really, really paying for it all...just like us, only worse.

He has been doing this for 60 years. Just because he has started saying this in the last few when he has made all his money and is getting ready to leave this world means squat to me. He didnt have a problem with it when he first started and that was my point, he benefited from those tax laws which is what got him where he is now. Sure he does buy other businesses but he does so cuz he thinks he can expand them and create more, meaning more profit and that usually means he needs to hire more employees as well. If you have proof that he has not created one new job in decades, then lets see it.

Imo, what is going on in Ireland is simply the same thing going on in nearly every other developed country in the world, and considering what the US is going thru and considering it started in the US, pot calling kettle black. lol What the Irish govt did as far as easy money, etc had nothing to do with giving businesses a short tax incentive to locate there, the companies created jobs and that was the purpose and imo they created more tax revenue than had they done nothing. After all, those businesses wouldnt even be there otherwise. The Irish govt, just like the US just should have just managed it better.

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RE: Warren Buffet - 8/15/2011 9:07:24 AM   
rulemylife


Posts: 14614
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quote:

ORIGINAL: flcouple2009

quote:

ORIGINAL: Owner59
What about all those hundred of thousands of jobs the bush tax cuts are generating?


We're still waiting on those.



Going to be a long wait.

Golden shower economic theory.

What the wealthy are given will trickle down.

It's really kind of pathetic when you think about it.


(in reply to flcouple2009)
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