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Thread: Stop Coddling the Super-Rich

  1. #1
    Senior Member Buzz's Avatar
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    Default Stop Coddling the Super-Rich

    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/op...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.
    Last edited by Buzz; 08-15-2011 at 09:18 AM.
    "For everyone to whom much is given, of him shall much be required." -- Luke 12:48

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    Senior Member huntinman's Avatar
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    Quote Originally Posted by Buzz View Post
    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/op...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.
    Last edited by huntinman; 08-15-2011 at 10:32 AM.
    Bill Davis

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    Senior Member Buzz's Avatar
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    Quote Originally Posted by huntinman View Post
    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.
    "For everyone to whom much is given, of him shall much be required." -- Luke 12:48

    Raven - Moneybird's Black Magic Marker***
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    Mick - Moneybird's Jumpin' Jack Flash***
    (Clubmead's Road Warrior x Oakdale Whitewater Devil Dog)
    Peerless - Moneybird's Sole Survivor
    (Two River's Lucky Willie x Moneybird's Black Magic Marker)

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    Senior Member road kill's Avatar
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    Quote Originally Posted by Buzz View Post
    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
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  5. #5

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    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.

  6. #6
    Senior Member road kill's Avatar
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    Quote Originally Posted by ppro View Post
    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
    Stan b & Elvis

  7. #7
    Senior Member huntinman's Avatar
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    Somebody go over to Buzz's quick... he's drowning in kool-aid!
    Bill Davis

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    Senior Member Uncle Bill's Avatar
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    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
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    Senior Member BonMallari's Avatar
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    Quote Originally Posted by road kill View Post
    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
    All my Exes live in Texas

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  10. #10
    Senior Member huntinman's Avatar
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    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...
    Bill Davis

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