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Old 08-15-2011, 06:29 AM
 
Location: USA
2,593 posts, read 3,748,034 times
Reputation: 2223

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I really don't think anyone in their right mind thinks $100K/yr. is rich. Buffett doesn't give an exact figure, but he's probably referring to anyone with an income of $10,000,000/yr. or more.

He is right I think, he doesn't worship his wealthy peers, or "so-called job creators" like most of CD does. He realizes they're people too & that they're no better than anyone else due to their income or net worth.
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Old 08-15-2011, 06:29 AM
 
12,395 posts, read 23,770,507 times
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There's a BIG difference between Warren Buffet billionaire truly rich and the $250k-aire "Obama rich" our president is trying to wage a "fairness" tax war on.

We need more tax brackets to distort the skyrocketing income breaks at the top 4%, 2%, and 1% and we need to stop calling a $250k income supporting a family of 4 in urban Chicago, NYC, DC, SF, LA, etc (you know, where the $250k jobs are plentiful for those of a certain educational background, and a "starter" home in a good public district costs $700k) "rich".

We also need a simplified tax code where all income, regardless of origin (paycheck, earned interest, capital gains, etc) are taxed at the same rate. The breaks for capital gains and earned interest only lower the truly rich's tax bills.
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Old 08-15-2011, 06:30 AM
 
Location: Long Island, NY
19,776 posts, read 12,315,637 times
Reputation: 5644
Quote:
Originally Posted by summers73 View Post
"Quick Obama, get the EPA on my my competitor's a$$. I don't want to lose market share against him."

Love,
pro-Obama billionaire
This thread isn't about regulations. It's about taxes and when the 2nd richest person in the nation says billionaire taxes are too low only one suffering from severe cognitive dissonance can ignore his words.
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Old 08-15-2011, 06:30 AM
 
898 posts, read 745,109 times
Reputation: 590
Do any of you who think Buffet is correct really think that confiscating the wealth of these few super rich in the same ballpark as Buffet would make the least bit of difference to reducing the debt?

Please do the math and get back to us. Buffet is pandering being a fellow traveler and all.
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Old 08-15-2011, 06:31 AM
 
Location: West Coast of Europe
23,638 posts, read 20,862,782 times
Reputation: 9188
Quote:
Originally Posted by zoomba View Post
Why doesn't he simply turn over his assets to the government?
Can one simply donate millions and millions of $ to the state? If so, wouldn't that be considered a kind of attempted bribe?
I guess he wants tax laws that force him and others like him to pay higher taxes.
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Old 08-15-2011, 06:33 AM
 
Location: Long Island, NY
19,776 posts, read 12,315,637 times
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Quote:
Originally Posted by zoomzoom3 View Post
I really don't think anyone in their right mind thinks $100K/yr. is rich. Buffett doesn't give an exact figure, but he's probably referring to anyone with an income of $10,000,000/yr. or more.

He is right I think, he doesn't worship his wealthy peers, or "so-called job creators" like most of CD does. He realizes they're people too & that they're no better than anyone else due to their income or net worth.
Buffett clearly said, "I would leave rates for 99.7 percent of taxpayers unchanged and continue the current 2-percentage-point reduction in the employee contribution to the payroll tax."

In other words, raise taxes on the top 0.3% -- that's not the guy or gal earning $100K or even $250K. That's people earning a $1 million+.

The problem is that people shoot off responses without reading the link.
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Old 08-15-2011, 06:33 AM
 
25,058 posts, read 24,554,205 times
Reputation: 11709
Quote:
Originally Posted by Neuling View Post
Can one simply donate millions and millions of $ to the state? If so, wouldn't that be considered a kind of attempted bribe?
I guess he wants tax laws that force him and others like him to pay higher taxes.
Actually, yes you can. The US Treasury has an address on their site that you can send a check to donate money to reduce the national debt.

Quote:
Originally Posted by MTAtech View Post
This thread isn't about regulations. It's about taxes and when the 2nd richest person in the nation says billionaire taxes are too low only one suffering from severe cognitive dissonance can ignore his words.
Damn I should have responses to summers with "but in before a liberal says it has nothing to do with the EPA"
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Old 08-15-2011, 06:33 AM
 
22,286 posts, read 13,670,172 times
Reputation: 13501
Quote:
Originally Posted by theunbrainwashed View Post
Because he wants your average artsy latte drinking liberal to believe raising taxes on the rich will actually do something when, in fact, people like Buffet will see little to no difference in their tax bill but it will hurt the "rich" that make $100k a year or more. It's all a big ruse, and the liberal always falls for it, hook, line, and sinker

Great points. Buffet is essentially "immune" to taxes and raising the rate on "the rich" would not cost him a penny. Such tax increases would slaughter the $250K-$1 million per year "rich", who derive thier income from actual income, rather than trusts.

If Buffet wants to give more to the government, he and the other "super rich" are perfectly able to do so on their own. Why don't they?
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Old 08-15-2011, 06:33 AM
 
9,856 posts, read 13,959,381 times
Reputation: 5460
Quote:
Originally Posted by Neuling View Post
Can one simply donate millions and millions of $ to the state? If so, wouldn't that be considered a kind of attempted bribe?
I guess he wants tax laws that force him and others like him to pay higher taxes.
Yes you can. The treasury department even accepts credit cards where the payments go directly towards repaying the national debt. That program has been in place since 1996.
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Old 08-15-2011, 06:36 AM
 
Location: Long Island, NY
19,776 posts, read 12,315,637 times
Reputation: 5644
I guess it's obvious which C-D members suffer from severe cognitive dissonance.
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