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Buzz
08-15-2011, 10:12 AM
That's the title of Warren Buffett's latest OP-ED in the New York Times. Seems like he's starting to sound like a broken record. Maybe his rich friends need to have an intervention...

I'm just posting the first few paragraphs. You'll have to read the rest by clicking the link below. Or not...


http://www.nytimes.com/2011/08/15/opinion/stop-coddling-the-super-rich.html?_r=1


OUR leaders have asked for “shared sacrifice.” But when they did the asking, they spared me. I checked with my mega-rich friends to learn what pain they were expecting. They, too, were left untouched.

While the poor and middle class fight for us in Afghanistan, and while most Americans struggle to make ends meet, we mega-rich continue to get our extraordinary tax breaks. Some of us are investment managers who earn billions from our daily labors but are allowed to classify our income as “carried interest,” thereby getting a bargain 15 percent tax rate. Others own stock index futures for 10 minutes and have 60 percent of their gain taxed at 15 percent, as if they’d been long-term investors.

These and other blessings are showered upon us by legislators in Washington who feel compelled to protect us, much as if we were spotted owls or some other endangered species. It’s nice to have friends in high places.

Last year my federal tax bill — the income tax I paid, as well as payroll taxes paid by me and on my behalf — 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.

If you make money with money, as some of my super-rich friends do, your percentage may be a bit lower than mine. But if you earn money from a job, your percentage will surely exceed mine — most likely by a lot.

huntinman
08-15-2011, 10:27 AM
That's the title of Warren Buffett's latest OP-ED in the New York Times. Seems like he's starting to sound like a broken record. Maybe his rich friends need to have an intervention...

I'm just posting the first few paragraphs. You'll have to read the rest by clicking the link below. Or not...


http://www.nytimes.com/2011/08/15/opinion/stop-coddling-the-super-rich.html?_r=1

So, if he feels so guilty, why doesn't ole Warren write a whopping big check to Uncle Sam to soothe his guilt?? Nothing stopping him, but his own greed.

Buzz
08-15-2011, 10:29 AM
So, if he feels so guilty, why doesn't ole Warren write a whopping big check to Uncle same to soothe his guilt?? Nothing stopping him, but his own greed.

I thought he already pledged a big chunk of his wealth to charity. So I'm not sure I would chalk it up to greed.

I'm thinking you didn't click on the link and read the entire op-ed, otherwise you'd have seen this:


I know well many of the mega-rich and, by and large, they are very decent people. They love America and appreciate the opportunity this country has given them. Many have joined the Giving Pledge, promising to give most of their wealth to philanthropy. Most wouldn’t mind being told to pay more in taxes as well, particularly when so many of their fellow citizens are truly suffering.

road kill
08-15-2011, 10:40 AM
I thought he already pledged a big chunk of his wealth to charity. So I'm not sure I would chalk it up to greed.

I'm thinking you didn't click on the link and read the entire op-ed, otherwise you'd have seen this:
You have a link and graph and some stats on those "suffering" in the USA??

Just askin'.......


RK

ppro
08-15-2011, 11:28 AM
More stupid class warfare. I will echo what Bill said. Why not not write a check to THE US GOVERNMENT. Not charity. Why did the great Warren Buffet the king of sacrifice write a tax deductible check to charity and not a " sacrifice " check to the government. Buzz you seriously cant be that gullible or angry to believe this BS. Everyone that spouts this stupidity and does not sacrifice the max for such a noble cause is a fraud. Obama, Gates, Buffet, and others are not saying this for the reasons they write. If so, the sacrifices would be flowing.

road kill
08-15-2011, 11:34 AM
More stupid class warfare. I will echo what Bill said. Why not not write a check to THE US GOVERNMENT. Not charity. Why did the great Warren Buffet the king of sacrifice write a tax deductible check to charity and not a " sacrifice " check to the government. Buzz you seriously cant be that gullible or angry to believe this BS. Everyone that spouts this stupidity and does not sacrifice the max for such a noble cause is a fraud. Obama, Gates, Buffet, and others are not saying this for the reasons they write. If so, the sacrifices would be flowing.

Because the check to charity is




ready




TAX DEDUCTIBLE!!!!!!!!


See what I'm sayin'????;)


RK

huntinman
08-15-2011, 11:37 AM
Somebody go over to Buzz's quick... he's drowning in kool-aid!

Uncle Bill
08-15-2011, 12:06 PM
For some unknown reason, I watched CBS socialist, Leslie Stall try her voodoo at corporate class envy. One thing the story pointed out is how many Atlas's have already shrugged. But beyond that, it also pointed out how quickly a major turn-around can occur with the correct government in place.

Once conservatives have taken the WH and Senate, so real businesses can once again have some security from every beauracracy that's "out to get them", we'll have lots of jobs being created. Think of the trillions that would return to our shores if the attitudes toward corporations became business friendly. There'd be more 'made in America' labels on products than you can imagine.

I wouldn't have one taxpayer pony up a dime until Obama cut out the several Hundred additional employees he has put on the payroll at the agency that had ONE employee until his oligarchy took over.

In fact, the first way I'd like to see 'cuts' happen, is to return every agency and beauracracy to the employees that were on board prior to his getting into office. ALL his stimulus billions did was pay off the governmental unions, and give them all fat juicy raises. FWIW, check out his pay hikes for his staff THIS YEAR ALONE. It's embarrassing

UB

BonMallari
08-15-2011, 12:16 PM
Because the check to charity is




ready




TAX DEDUCTIBLE!!!!!!!!


See what I'm sayin'????;)


RK

of course it is...look at the kid from Facebook...Zuckenburg, he "donated' some 25+ million to "charity" until the media revealed that it was an attempt to lessen his tax burden...very few wealthy people like to part with their money...willingly..but slick tax attorneys have learned how to use the loopholes to help their clients use the the system to its ability

huntinman
08-15-2011, 12:33 PM
Pat Buchanon came out and said Warren Buffet should cut a check to Uncle Sam for 5 billion if he feels the rich should pay more...

Matt McKenzie
08-15-2011, 12:35 PM
of course it is...look at the kid from Facebook...Zuckenburg, he "donated' some 25+ million to "charity" until the media revealed that it was an attempt to lessen his tax burden...very few wealthy people like to part with their money...willingly..but slick tax attorneys have learned how to use the loopholes to help their clients use the the system to its ability



very few PEOPLE like to part with their money...willingly. I know I don't. But when the top 5% of taxpayers are paying 60% of the taxes and half the population pays zero taxes, I have a hard time buying into the "raise taxes for the rich" plan. Those awful, filthy, greedy, terrible rich people are the ones that are providing most of the jobs. Same with those terrible corporations. Many of those greedy folks who make over $250,000 a year are small business owners who employ many of the idiots that want them to "pay their fair share". Oh well. You can't fix stupid.

Buzz
08-15-2011, 12:41 PM
Obviously no one clicked on the link and read the entire article.

You guys crack me up.

troy schwab
08-15-2011, 12:52 PM
Obviously no one clicked on the link and read the entire article.

You guys crack me up.

BUZZ,
I read the article...... Whats your point????? Everything he said is pretty much common sense. Just wondering where you expected this to go?

Troy

Buzz
08-15-2011, 01:01 PM
BUZZ,
I read the article...... Whats your point????? Everything he said is pretty much common sense. Just wondering where you expected this to go?

Troy

It went EXACTLY where I expected it to go... You guys never disappoint.

I don't know about you, but it bothers me a lot more that folks who make millions more than me pay lower effective rates than I do than it does that the "lucky duckies" pay little in income taxes.


See lucky duckies:

http://en.wikipedia.org/wiki/Lucky_duckies

luvmylabs23139
08-15-2011, 01:16 PM
The rich pay a lot more $$$ in taxes than I do. I'm much more pissed about all the people that pay zero and even more pissed about the people that get a socialist redistribution check!
Those people have no skin in the game and will vote for BUMMA because they pay zip.
Everyone should pay federal income taxes and these socialist checks need to end!

troy schwab
08-15-2011, 01:25 PM
Alright Buzz..... heres my take. The reason that the wealthiest americans pay so little taxes is because most of them dont work. The make money by investing money, and are not on a payroll, hence no standard "income tax" (the rate you and me pay) Now, I could be a jealous prick, and say that this is unfair..... but its their money, and they are essentially gambling with it. So be it. BTW, most of these people are shareholders, (many are the majority shareholders) of companies that employ millions of americans. So I wouldnt be so quick to go after the companies with taxes.... they will simply shift costs. These people do pay capital gains tax, and some other fluffy taxes.... but nothing comparable to the Income tax rates. Blame the government for this, not the wealthy. Government reform is the only way to fix this.....not by "taxing the rich".....because the wealthiest people in this country do not actually "work". By raising income tax on the rich, you will only harm the upper middle class business owner.....not the truely rich. Get it?? JMO


Troy

Cody Covey
08-15-2011, 01:48 PM
You do realize he is bitching about how little taxes he pays because of tax loopholes he CHOOSES to use? He could just pay the tax rate prescribed in the tax code relative to his income but instead he CHOOSES to go through the work to find the loopholes and use them instead of the "honorable" thing and just pay more taxes...

troy schwab
08-15-2011, 01:55 PM
The rich pay a lot more $$$ in taxes than I do. I'm much more pissed about all the people that pay zero and even more pissed about the people that get a socialist redistribution check!
Those people have no skin in the game and will vote for BUMMA because they pay zip.
Everyone should pay federal income taxes and these socialist checks need to end!

BTW, I pretty much agree with all of this.

huntinman
08-15-2011, 02:19 PM
It went EXACTLY where I expected it to go... You guys never disappoint.

I don't know about you, but it bothers me a lot more that folks who make millions more than me pay lower effective rates than I do than it does that the "lucky duckies" pay little in income taxes.


See lucky duckies:

http://en.wikipedia.org/wiki/Lucky_duckies

You never disappoint...class warfare to the bitter end. It's just about all you libs have left...

Buzz
08-15-2011, 02:34 PM
Alright Buzz..... heres my take. The reason that the wealthiest americans pay so little taxes is because most of them dont work. The make money by investing money, and are not on a payroll, hence no standard "income tax" (the rate you and me pay) Now, I could be a jealous prick, and say that this is unfair..... but its their money, and they are essentially gambling with it. So be it. BTW, most of these people are shareholders, (many are the majority shareholders) of companies that employ millions of americans. So I wouldnt be so quick to go after the companies with taxes.... they will simply shift costs. These people do pay capital gains tax, and some other fluffy taxes.... but nothing comparable to the Income tax rates. Blame the government for this, not the wealthy. Government reform is the only way to fix this.....not by "taxing the rich".....because the wealthiest people in this country do not actually "work". By raising income tax on the rich, you will only harm the upper middle class business owner.....not the truely rich. Get it?? JMO


Troy


Why should I care if they shift costs? If they shift costs, then those higher prices will filter down to the "lucky dukies" that you guys get all hot and bothered about...

troy schwab
08-15-2011, 02:37 PM
Why should I care if they shift costs? If they shift costs, then those higher prices will filter down to the "lucky dukies" that you guys get all hot and bothered about...

Not quite BUZZ..... in the past when companies have gone after corporations and businesses, they move. IE send work to China, Mexico, etc...... is THAT what you want. Because thats what they do. Why are so focused on these lucky duckies????? Good Lord.

troy schwab
08-15-2011, 02:41 PM
I dont think I could discuss your topic and "lucky duckies" at the same time. They are two completely different issues. They (the lucky duckies) are a product of entitlement that the democrats and libs have generated. Nothing even remotely related to the "rich" you are so disgusted with...... Ironically, I DO believe they are a bigger problem than the "rich". BTW, they outnumber the rich probably around 10,000 to 1. JMO

Gerry Clinchy
08-15-2011, 05:15 PM
Why should I care if they shift costs? If they shift costs, then those higher prices will filter down to the "lucky dukies" that you guys get all hot and bothered about...

And the "lucky duckies" will get bigger refund checks via a COLA, and the mid-range taxpayers will be sucking up more of the burden (since they have no one to pass their increased costs onto).