Stop coddling the super-rich, Warren Buffett says

[mawilson 2,133]

$3.8TN is the legislated output. On the other hand, $2.2TN is the legislated input. That sounds like starving the beast to me.

The beast is not starving. It's not even hungry. It's obese and overfed on borrowed food.

[IR5FORMUMSIE 850]

Buffett is a self-serving opportunist. Of course he's wrong.

By paying $6M in taxes?

[slim 1,530]

I like how many of you are pretty keen to spend other people's money.

Why aren't you "tax the rich" folks ponying up more of your fair share?

[Usui Takumi 1,562]

I like how many of you are pretty keen to spend other people's money.

Why aren't you "tax the rich" folks ponying up more of your fair share?

They are paying it in interest to the rich lol.

[slim 1,530]

They are paying it in interest to the rich lol.

Even the interest that we "normal folks" pay doesn't amount to more than peanuts compared to the taxes they pay.

[mawilson 2,133]

By paying $6M in taxes?

By cuddling up to the Republican-Democrat Regime.

[Usui Takumi 1,562]

Even the interest that we "normal folks" pay doesn't amount to more than peanuts compared to the taxes they pay.

Thats because when they collect your's and a few 100,000 other peanuts and then put all those peanuts into one pocket...the taxes have to be paid on those peanuts.

[mawilson 2,133]

Thats because when they collect your's and a few 100,000 other peanuts and then put all those peanuts into one pocket...the taxes have to be paid on those peanuts.

Feel free to live within your means and not borrow any money from those evil rich bankers.

No debt, no interest.

[IR5FORMUMSIE 850]

By cuddling up to the Republican-Democrat Regime.

Huh? That excludes him from having an opinion of his own. He should vote along rich people lines?

Thats because when they collect your's and a few 100,000 other peanuts and then put all those peanuts into one pocket...the taxes have to be paid on those peanuts.

Well said, you wouldn't, by any chance, have any peanuts? I'm hungry.

Feel free to live within your means and not borrow any money from those evil rich bankers.

No debt, no interest.

and presumably not pay taxes which subsidize those rich bankers?

[Usui Takumi 1,562]

Feel free to live within your means and not borrow any money from those evil rich bankers.

No debt, no interest.

Generally yes I am. That is why I didn't reference myself (ie. I have positive assets and no debt). At some point here I'm going to take a calculated risk in say my early thirties.

Anyway, you'll find that from a very young age Americans get lured into a sort of credit slavery. Don't get me wrong, its their choice. But once there in it, its pretty horrible.

[mawilson 2,133]

Huh? That excludes him from having an opinion of his own. He should vote along rich people lines?

He's only saying that to curry favor with the Obama administration. He's as deep into corporate welfare as GE CEO Jeff Immelt.

and presumably not pay taxes which subsidize those rich bankers?

You got that backwards. Their taxes pay for *your* government services.

[Mr. Big Dog 10,747]

You got that backwards. Their taxes pay for *your* government services.

It's their government services, too. They haven't made their fortune in Somalia where the absence of government has created a less than desirable economic climate. They also haven't made their fortune in Haiti where there's a lack of an educated workforce. You fail to understand that the rich haven't made their fortune in some vacuum. They depend on government services all the same. And they are reaping disproportionate benefits. Try looking at the bigger picture from time to time.

Edited August 16, 2011 by Mr. Big Dog

[Usui Takumi 1,562]

It's their government services, too. They haven't made their fortune in Somalia where the absence of government has created a less than desirable economic climate. They also haven't made their fortune in Haiti where there's a lack of an educated workforce. You fail to understand that the rich haven't made their fortune in some vacuum. They depend on government services all the same. And they are reaping disproportionate benefits. Try looking at the bigger picture from time to time.

Especially when you consider military assets may have been used in some degree or another for this purpose.

[scandal 951]

Buffett is a self-serving opportunist. Of course he's wrong.

I think you're wrong. Flat out wrong.

And I think Warren Buffet happens to be right - on tax policy, at any rate.

However, regardless of whether he's right or not, I think you do him a disservice by mocking him.

He's a capitalist - by definition that means he seeks opportunities, and looks out for himself. So do you, so do I. Yes, he's both self-serving and opportunist in that limited sense. There's nothing wrong with that. But that's not what you meant. You meant that his motives are in question, that he's got some slick self-interest in daring to suggest progressive policies.

Here's what I know of him. He's a decent, simple living man who loves his country, who has devoted the vast majority of his wealth to philanthropy. He's always lived according to simple principles: family, community, society. He's not a religious man but has all the moral fiber you would expect from a principled individual. He's not an ego tripper like Larry Ellison or Steve Jobs or Donald Trump. He didn't even bother to name his own foundation and simply chose to donate his wealth to the Bill and Melinda Gates Foundation. He's simply not in it for the ego. He is in the twilight of his life and his public words are spoken not to further his own wealth or power or prestige, they are spoken from the heart in an effort to serve the country he loves.

You may not agree with his policy prescriptions, but you sound like sour grapes by casting aspersions on this fine man.

Besides, he's absolutely flat-out right about our tax and budgetary policy in this country.

[mawilson 2,133]

It's their government services, too. They haven't made their fortune in Somalia where the absence of government has created a less than desirable economic climate. They also haven't made their fortune in Haiti where there's a lack of an educated workforce. You fail to understand that the rich haven't made their fortune in some vacuum. They depend on government services all the same. And they are reaping disproportionate benefits. Try looking at the bigger picture from time to time.

What benefits are they reaping from paying for grandma's Medicare and grandpa's Social Security? Or food stamps for some worthless welfare case?

Whatever they use (law enforcement, CDC, EPA, FAA, USPS, etc) is a small fraction of the budget.