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Even the people like Warren Buffett say nice pious things but do whatever they can in reality to protect their assets. Even while Buffett was talking about upping taxes a couple of years back, he was in the middle of fighting the IRS tooth and nail over a paltry billion in back taxes that he claimed he didn't owe from the early part of last decade. And he and Bill Gates have gigantic tax shelters to prevent them doing what they think the mildly wealthy should do. Ah, well, how does it feel for your idols to have feet of clay?
Exactly. The hypocrisy is galling. And the media will give little to no attention to issues like this when liberals are avoiding taxes. When conservatives do it, however, it's front page news.
Exactly. The hypocrisy is galling. And the media will give little to no attention to issues like this when liberals are avoiding taxes. When conservatives do it, however, it's front page news.
Stop being ignorant. It is not hypocritical when Buffett and others take advantage of the financial structures the wealthy have set in place to protect and increase their assets. That's just common sense. Unlike your conservative heroes, however, Buffett and crew are telling America exactly what is going on, and why it will irrevocably harm the future well-being of our nation. They have asked Congress to put a stop to it, because Congress is the only institution that can. Americans, at our own peril, seem absolutely fine with this massively increasing disparity of wealth. As I've said: the collective sound of America circling the drain.
Stop being ignorant. It is not hypocritical when Buffett and others take advantage of the financial structures the wealthy have set in place to protect and increase their assets. That's just common sense. Unlike your conservative heroes, however, Buffett and crew are telling America exactly what is going on, and why it will irrevocably harm the future well-being of our nation. They have asked Congress to put a stop to it, because Congress is the only institution that can. Americans, at our own peril, seem absolutely fine with this massively increasing disparity of wealth. As I've said: the collective sound of America circling the drain.
No, what you're essentially arguing is a "Rich get richer, poor get poorer" meme. In truth, what is happening is that the working and middle classes in this country are pretty much making what they were in 1984, adjusting for inflation. Meanwhile, because the insane penalties for investment and capital gains were taken away in the early 80s, it actually makes sense to invest money rather than hoard it in tax shelters.
Do not be fooled. Warren Buffet has battalions of accountants who use every possible trick in the book to keep as much as possible away from the IRS. If Buffett were actually serious, he would have stroked a check to the Federal Government years ago for the balance of what he allegedly owes and he wouldn't keep lobbying the government to direct tax breaks to help out his investment in railroads. Nope, it's the moderately successful entrepreneur who would pay the price because of what Warren Buffett says, not Warren Buffett.
US workers actually make less than what they were in the 1980s, given inflation and loss of benefits, but even if they were making the same as in 1984--30 years with no increase, that is no cause for celebration. Meanwhile, incomes of upper-tier earners have increased dramatically in that period. Which is itself another issue from the growing disparity of wealth.
I've already addressed why Buffett is not being hypocritical.
Quote:
Originally Posted by cpg35223
No, what you're essentially arguing is a "Rich get richer, poor get poorer" meme. In truth, what is happening is that the working and middle classes in this country are pretty much making what they were in 1984, adjusting for inflation. Meanwhile, because the insane penalties for investment and capital gains were taken away in the early 80s, it actually makes sense to invest money rather than hoard it in tax shelters.
Do not be fooled. Warren Buffet has battalions of accountants who use every possible trick in the book to keep as much as possible away from the IRS. If Buffett were actually serious, he would have stroked a check to the Federal Government years ago for the balance of what he allegedly owes and he wouldn't keep lobbying the government to direct tax breaks to help out his investment in railroads. Nope, it's the moderately successful entrepreneur who would pay the price because of what Warren Buffett says, not Warren Buffett.
No, what you're essentially arguing is a "Rich get richer, poor get poorer" meme. In truth, what is happening is that the working and middle classes in this country are pretty much making what they were in 1984, adjusting for inflation. Meanwhile, because the insane penalties for investment and capital gains were taken away in the early 80s, it actually makes sense to invest money rather than hoard it in tax shelters.
Do not be fooled. Warren Buffet has battalions of accountants who use every possible trick in the book to keep as much as possible away from the IRS. If Buffett were actually serious, he would have stroked a check to the Federal Government years ago for the balance of what he allegedly owes and he wouldn't keep lobbying the government to direct tax breaks to help out his investment in railroads. Nope, it's the moderately successful entrepreneur who would pay the price because of what Warren Buffett says, not Warren Buffett.
You really think Warren Buffet should concede and pay the government what his partnered firm "allegedly" owes them? I imagine that Mr. Buffet truly believes he doesn't owe the government anything, he does pay his taxes year over year after all. Warren Buffet has said many times that he doesn't pay enough taxes, but that is based on the SYSTEM not because he is evading what he owes. Also, the back taxes lawsuit you're referring to is a company owned by the Berkshire Hathaway conglomerate which of course Buffet owns. But that company is responsible for revenue, profits, and losses just like any other company. It also has its own CEO and everything must be accounted for. Of course they are going to fight for their profits when they think there is a case.
The idea of voluntarily giving the government anything is absurd. Obviously if the government could prove that he owes them what they are saying he does, then he will pay up. So far I haven't heard anything either way. Warren Buffet has vowed to give away more than 99% of his wealth before he dies. Any extra money he can avoid paying to the government is better off in his hands IMO. At least then 99% of it is going towards something good and not just paying for another corrupt government program.
Warren Buffet has vowed to give away more than 99% of his wealth before he dies.
This is the great "Gospel of Wealth" that Carnegie wrote about over 100 years ago. If more wealthy were this benevolent, there's no question, we'd have a much better society. If those at the top were this generous in terms of wage payment and charitable giving, then there would be no need for social welfare programs. But no, few at the top have this philosophy of generosity, one which benefits everyone; most of them are only looking out for themselves and their country club friends.
You really think Warren Buffet should concede and pay the government what his partnered firm "allegedly" owes them? I imagine that Mr. Buffet truly believes he doesn't owe the government anything, he does pay his taxes year over year after all. Warren Buffet has said many times that he doesn't pay enough taxes, but that is based on the SYSTEM not because he is evading what he owes. Also, the back taxes lawsuit you're referring to is a company owned by the Berkshire Hathaway conglomerate which of course Buffet owns. But that company is responsible for revenue, profits, and losses just like any other company. It also has its own CEO and everything must be accounted for. Of course they are going to fight for their profits when they think there is a case.
The idea of voluntarily giving the government anything is absurd. Obviously if the government could prove that he owes them what they are saying he does, then he will pay up. So far I haven't heard anything either way. Warren Buffet has vowed to give away more than 99% of his wealth before he dies. Any extra money he can avoid paying to the government is better off in his hands IMO. At least then 99% of it is going towards something good and not just paying for another corrupt government program.
The retort that 'if Buffett thinks the rich don't pay enough taxes then he is free to cut the government a check' is absolutely one of the more ridiculous canards given by the defenders of the status quo. It's so utterly silly that it barely deserves a response.
Quote:
Originally Posted by Hip Priest
This is the great "Gospel of Wealth" that Carnegie wrote about over 100 years ago. If more wealthy were this benevolent, there's no question, we'd have a much better society. If those at the top were this generous in terms of wage payment and charitable giving, then there would be no need for social welfare programs. But no, few at the top have this philosophy of generosity, one which benefits everyone; most of them are only looking out for themselves and their country club friends.
Yet another reason why the inheritance tax was among the wisest public policy measures ever adopted in this country.
Statism and collectivism are just as evil as the neo-facist corporatism that has has evolved in the US in the last three decades.
Neo-fascist corporatism IS statism. Neo-fascist corporatism IS collectivism. What we need to discover is that government expropriation of private wealth is not only ineffective. It is immoral, anti-Man, anti-Life, and anti-Reality. Highly limited government would prevent fascism. Because there would be no power political power available to give one crony corporation a politico-economic advantage over another. Business doesn't have to go. The State has to go. Why? Business is based on freedom and trade. Government is based on expropriation and compulsion.
We need to discover laissez-faire capitalism, the only economy based on rational morality. It has never been tried before, despite the leftist lies mischaracterizing the past. We need more than ever to move towards a society based on the Separation of Economics and State.
Did you know that if you took 100% of americans forbes 500 wealthiest money that it pays for the government for only 1 year?
That is how f-cked we are.
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