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Old 08-15-2011, 06:37 AM
 
69,360 posts, read 58,066,983 times
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Actually thats not exactly what he said.. Lets quote it and then analize it
Quote:
Originally Posted by chariega View Post
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.
What Buffet wants is to continue to keep his long term investment breaks, and nail the short term ones.

He has no problem at all taking the breaks HE gets..
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Old 08-15-2011, 06:38 AM
 
Location: West Coast of Europe
23,636 posts, read 20,859,959 times
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Quote:
Originally Posted by hnsq View Post
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.
Cool I wonder how many make use of that option...
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Old 08-15-2011, 06:39 AM
 
25,058 posts, read 24,551,587 times
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Quote:
Originally Posted by hawkeye2009 View Post
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?
Since MTAtech wasn't able to get the point summers made, Buffet wants to "price out" his competition. He's on a level unlike most other "rich" people. Buffet is in the oligarchic class. Taxes will not touch him, and his cohorts that I mentioned.
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Old 08-15-2011, 06:40 AM
 
9,856 posts, read 13,957,772 times
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Quote:
Originally Posted by Neuling View Post
Cool I wonder how many make use of that option...
I know. Instead of people always pushing for higher taxes, they should stop complaining and just donate money themselves.
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Old 08-15-2011, 06:40 AM
 
69,360 posts, read 58,066,983 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.
Warren Buffeets salary is $100K a year at Berkshire Hathaway..

He got so rich by NOT taking a salary, and keeping his wealth tied in in stocks, which dont get taxed until he sells them..

It gets even better, Buffet IS NEVER selling them, he's DONATING THEM.. Which gives him another tax break.

The mans a hypocrite
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Old 08-15-2011, 06:42 AM
 
25,058 posts, read 24,551,587 times
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Quote:
Originally Posted by pghquest View Post
Warren Buffeets salary is $100K a year at Berkshire Hathaway..

He got so rich by NOT taking a salary, and keeping his wealth tied in in stocks, which dont get taxed until he sells them..

It gets even better, Buffet IS NEVER selling them, he's DONATING THEM.. Which gives him another tax break.

The mans a hypocrite
Does he donate his money like Bill and Melinda Gates do? In other words, donate money to their own charity, thereby keeping their money but getting a charitable contribution tax break anyway?

Quote:
Originally Posted by pghquest View Post
Warren Buffeets salary is $100K a year at Berkshire Hathaway..

He got so rich by NOT taking a salary, and keeping his wealth tied in in stocks, which dont get taxed until he sells them..

It gets even better, Buffet IS NEVER selling them, he's DONATING THEM.. Which gives him another tax break.

The mans a hypocrite
That's probably what he wants. He wants higher taxes on CEO salaries, but nevermind higher taxes on long-term investments. He wants to muscle out the average middle class investor who uses options to make money quickly.

I can't believe liberals take his words at face value. It's so laughable how easy it is to con people......
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Old 08-15-2011, 06:44 AM
 
Location: Raleigh, NC
20,003 posts, read 16,481,324 times
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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.
I consider the topics linked. The uber-rich pay more taxes, and so do their new competitors. The uber-rich can either easily absorb the higher taxes or simply write them off through a new/existing loophole their team of tax accountants identified. The new competition cannot afford to hire this accounting dream team or otherwise use the equivalent loopholes. The uber-rich with their government pals get to keep new competition and choice from the marketplace.

The gravy is that the uber-rich can pay off their government pals to enact new environmental or other regulations to ensure their monopoly for generations down the line.

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Old 08-15-2011, 06:44 AM
 
69,360 posts, read 58,066,983 times
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Quote:
Originally Posted by theunbrainwashed View Post
Does he donate his money like Bill and Melinda Gates do? In other words, donate money to their own charity, thereby keeping their money but getting a charitable contribution tax break anyway?
He actually donated his money to the Gates Foundation..

Buffett donates his billions to Gates foundation - CNET News
Quote:
Originally Posted by theunbrainwashed View Post
That's probably what he wants. He wants higher taxes on CEO salaries, but nevermind higher taxes on long-term investments. He wants to muscle out the average middle class investor who uses options to make money quickly.
He wants is to nail short term stock traders but keep the exemptions in place for longer investments that he takes part in. He's said it himself before. Taxing CEO salaries at 100% wouldnt produce more tax revenues because as Buffet shows himself, they will just adjust their salary to beat the tax code. Trump for exampl pays himself $1 a year, and Ivanka Trump shared the same salary when she worked for him.
Quote:
Originally Posted by theunbrainwashed View Post
I can't believe liberals take his words at face value. It's so laughable how easy it is to con people......
Thats because liberals have shown that they have no ability to comprehend outside of their world.
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Old 08-15-2011, 06:45 AM
 
25,058 posts, read 24,551,587 times
Reputation: 11709
Quote:
Originally Posted by summers73 View Post
I consider the topics linked. The uber-rich pay more taxes to make their new competitors' pay more. The uber-rich can easily absorb the higher taxes or simply write them off. The new competition cannot hire the team of tax accountants to do the equivalent. The uber-rich with their government pals get to keep new competition and choice from the marketplace.
And guess who another fellow oligarch, John D. Rockefeller, that was rich like Warren Buffet said before? Competition is a sin

Quote:
Originally Posted by pghquest View Post
He actually donated his money to the Gates Foundation..

Buffett donates his billions to Gates foundation - CNET News
Ohhh how did I know
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Old 08-15-2011, 06:47 AM
 
Location: Long Island
27,568 posts, read 15,492,617 times
Reputation: 7480
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.


NO BODY (not the rich or the poor ) should be taxed more than 15%(all taxes personal income, investment and corporate)...and EVERYONE should be taxed at the SAME RATE(equality)


if our federal goverment cant run of 15%, then there is a problem

lower ALL TAXES......AND CUT SPENDING

Last edited by workingclasshero; 08-15-2011 at 07:32 AM..
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