Warren Buffett says: Stop Coddling the Super-rich

http://www.nytimes.com/2011/08/15/opinion/stop-coddling-the-super-rich.html?_r=2&adxnnl=1&adxnnlx=1313406012-LdFPV4bCgoJeCCLcFOOFEw

Quote :

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.

This guy is so full of shit he could run a manure factory. His self-serving speeches have been mercilessly dissected in the WSJ, in several articles. And he really does pay a lot more than he pretends to, since he leaves a lot out in these speeches.

But like an article I posted here a few days ago said -what's he waiting for? Why doesn't he just step up to the plate?

I have no information about the man to pass judgment; however, his statement about those who pay little tax ring true with the information I have.

Corporations have no conscience. He doesn't mention the corporations and their tax loopholes and overseas tax havens. They are the ones supporting the republican position of "no taxes."

What business can run without sufficient income? Especially a service provider? The U.S. government needs sufficient income to meet its service provider budget. Period.

However, international corporations are getting their services from the government to continue building profits that are not returned to the faltering economy. They are funding the republican candidates to guarantee no changes in their free ride - the obnoxious salaries paid to their international executives and the perks that their style of life provides.

Jobs are not created by the already existing corporations. Their management style has led to massive lay offs. Jobs are created by the small business person who needs government supports to get going in this stagnant economy. Small businesses grow and build their employee base in the process.

However, if you have republican leanings, the reality of corporate greed is not on the radar. The fear of "big, over-spending government" has been effectively passed from the republican years to this president. Just like science fiction, the big lie is effective. Say it often enough, and it takes on the elements of truth.

No one is talking about the off-shore tax havens.
For some, their bonus money is funneled directly off-shore and no tax is paid.

I like the fact that more information about taxation is being discussed. People should be aware of those not paying any tax and/or those not paying their fair share.
Everyone who receives an income, regardless of the source, should pay tax based on a fair percentage rate.

I agree that getting the tax debacle in the open is a positive thing.

Rethought post--wrong information!

Individuals who work hard to earn any money they might receive for that work are not the problem, Alice. Right now, many of them are faced with heavy losses, and that isn't right.

It's the corporate entities, faced by CEO's who speak the language so they can keep their "secure" positions, but who are not really much more than puppets to the powers that control them.

What we have to come to terms with is that these entities are not real. They are merely computer projections.

Money isn't what it used to be.

Ann

The 8/16 WSJ had an editorial deconstructing ol' full-of-shit Warren. The main points:

1. Warren's income is relatively low; he's famous for his $100k/yr Berkshire salary. His vast wealth is from capital gains (he's also famous for saying, "We eat our own cooking."). Capital gains are taxed at 15%. But Warren isn't advocating a hike in capital gains tax. Why not?

2. Warren, like Obama, "forgets" to mention that Obama's tax plan calls for those making $200K/year to pay more. How is that a "millionaire and billionaire?"

3. Warren shelters most of his wealth in his private foundation, which he gives away as he pleases -a billion to each of his three kids' foundations, and most to the Gates foundation. But the rest of us are supposed to give our money to the government.

Lying old man.

Quote :

We will not donate--there has to be a plan.

Otherwise it would be a total waste. It would go to war, etc.

We want the tax structure revamped and the deficit reduced.

What makes you think that if everyone was forced to "donate" more it wouldn't go to war, etc., and that the tax structure would be revamped? Revamped how? They'd have more money to do more of the same.

Anyhow, Warren won't donate, either, so you're in good company.

The tax code is unfair to all, whether weak toward one group or excessive toward another. It developed in an environment of special interests and remains there.

No one wants to part with a piece of their income wherever they fall on the tax scale. The reality is that society is complex and without government we have anarchy. We have seen anarchy in other countries. We pay less for our government than most developed countries. We also have fewer services from our government.

We do have some government programs that run efficiently and meet dire needs. Others need revamping but not from across the board cuts. That's the easy way. The intelligent want is an analysis of cost versus benefits and task analysis. However, across the board slices don't take any intellect.

Regardless of the person, I am glad to see people who are known to the media speaking out to support tax code changes. No one will care if D. K. Christi talks about the need for tax code change.

https://www.youtube.com/watch?v=zpEgGxmCkp4&feature=channel_video_title

Watch this video and explain to me why the "rich" need to be taxed more to support this. I see a crowd of mostly healthy, able-bodied women. Why are they so dependent on food stamps that one day of not getting them provokes the outraged, enraged response here? Who told them they were so entitled to life-long aid like this? Why does one have six kids while being totally dependent on government aid?

Unless the aforementioned "revamping" includes mandatory Depo Provera shots before getting aid, I will vote for, and donate to, the Republicans to cut as many social programs off as they can.

I hope those who vote so strongly to cut off programs to the needy (in many cases that equals death) never face an unexpected downturn in their own lives.

The right time to eliminate fraud and misuse of funds is during good economic times. This economy needs to provide the supports to help people until they can gain employment.

There's no question that local, state and federal programs to serve the needs of those without sufficient income to survive need analysis and correction.

Every day I see horrid regulation of government funds. That does not means the program should be cut and punish recipients. It does mean that programs need better supervision, oversight and financial audits.

LC wrote:

Quote :

We will not donate--there has to be a plan.

Otherwise it would be a total waste. It would go to war, etc.

We want the tax structure revamped and the deficit reduced.

What makes you think that if everyone was forced to "donate" more it wouldn't go to war, etc., and that the tax structure would be revamped? Revamped how? They'd have more money to do more of the same.

Anyhow, Warren won't donate, either, so you're in good company.

Of course we are. We want a balanced approach. Cuts alone are not sufficient. There must be an increase in Revenue. With this increase, Jobs could be created by the gov't. The Republicans keep yelling the rich cannot pay more taxes, they need money to create jobs. The gov't needs money to create jobs too. Where will it come from? Just curious as usual. You can donate if you wish--I will wait until there is a plan. How many jobs were created with the Bush tax cuts? I say not enough, if any. Now how will more of the same help?

Quote :

I hope those who vote so strongly to cut off programs to the needy (in
many cases that equals death) never face an unexpected downturn in their
own lives.

This is a non-sequitor. I doubt that crowd was made up of "unexpected downturns."

How do you get an upturn when you keep popping kids while needing food stamps to support the ones you have? Some "tough love" intervention is necessary, not more government workers, audits and oversight.

LC,



These people have nothing to do but procreate. If they have no money for food, then they can't even afford a movie.

Insurance a few years back wouldn't even pay for the pill if it was used for birth control.



If they had jobs and birth control it would help matters.

By the way, the WSJ is owned by Murdoch. That should explain the slant of the information printed and the caliber of the ethics in reporting.

FOX News is the pits. It is filled with hatred. I don't listen to it anymore.

Murdoch's empire of media is a reflection of his direction - I think the country would be better if the hate tv and radio was removed.

Unfortunately, their ability to create both the subtle and big lie does create news bites that are easy to quote and remember.

Mainstream non-republican media engaged commentators to combat the method.

That put all media suspect.

An intelligent and respected friend of mine is often quoting to me from the hate media. The pitiful part is that when I put it in context and show that the sound bite was not true, he just says that perhaps it was off a bit but.....

The mind set has been created.

No, Huffpost and AOL News are the pits. They disseminate outright lies and propaganda.

All outlets are imperfect, but I like Murdoch's best. The phone scandal doesn't negate the quality of his papers. I also like the UK Daily Mail, because it reports more honestly about this country than any US paper, and is not afraid to report things the US media is too cowardly to cover.

I just typed a very intellectual response that apparently was unliked by the cyber universe because I breathed crooked and it went "poof."

I'll sum it up. Commercial media is going to be slanted, regardless of the source. They need to pay their bills and keep their jobs.

Neutral, factual information seems impossible to find. As humans, the words we write reflect our own bias even when we try to be neutral.

Many times I have posted on a forum what I thought was a very neutral statement only to be lashed for my words. It's inevitable.

LC,

Please explain to me why billionaires need every penny of their hard-earned money to create jobs, but President Obama should be able to create jobs with no money.


He merely wants a return to the Bush era tax cuts. What is so terrible about that? We had a surplus then.


I say if the rich need money to create jobs, then don't ask any jobs from an administation which is denied money.

Any thinking person can see, without even looking that we are headed for a total financial collapse. When the people cannot spend, gov't must.

The reason we are in such dire straits is Bush depleted our reserves, gave a tax cut to the rich and fought a war on borowed money.



FOX News very conveniently forgets these facts.

I had a one hour conversation with a friend. Her position was that the illegal immigrants brought down the country.

Well, I gave her factual, sourced information regarding several aspects of the economy that worked together to cause the current situation.

When I was done, she said, "I think we shouldn't talk about this issue. I have my beliefs and you have yours."

That, my dear Alice, is why facts are so hard to find. When they are staring us in the face, sound bites and lies fit better with people's belief systems. Even when the truth is clear and supported by facts and evidence, they hold onto their hatred.

I posted on another thread about a community garden in Ft. Myers, Fl. There's a person who saw a need and personally did something about it. It'll be an upward battle to get support, but the idea is one whose time has come and it seems to have a go-getter behind it - home and community gardens that require little care and provide beauty and bounty (my next article for the monthly newsletter I work with).

Change has to start with each one of us ignoring the hate and just doing something small that makes a positive difference. Those who govern us (20% millionaires) have no idea what the needs of the people might be.

How about tapping into those large cash reserves held by corporations as a lending bank to help smaller businesses grow, expand and hire? Smaller businesses aren't as afraid of innovation and creativity as are the corporations.

Now I completely understand LC. She's been brainwashed by Murdoch and his thugs.

No wonder she says what she does.

8/19/2011


She's also brainwashed by Warren Buffet, a phony !


Cheers..Joe

We are all brainwashed to a degree - it is our natural tendency to be drawn to information that supports our point of view - the point of view that serves our personal interests the best.

Fortunately I have no friends who think like me. So every day I am faced with defending my position with facts. It forces me to look for the limited supply of information that is untainted. My friends are certain that PBS and NPR are wings of the liberals and more slanted than FOX. They actually believe FOX tells the truth. All our local papers are slanted in favor of the the republican platforms.

I once kept quiet to keep the peace with my friends; but I just can't keep quiet any more when they say things that seem so ridiculous and are often bold faced lies that they have picked up from the Fox commentators.

I really don't have to pick up any lies and sound bites because my friends are so busy with their quotes trying to educate me that I can just keep busy pointing out the truth as found in documents. But it's exhausting.