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What a surprise. After all, the Germans were gullible enough to elect the National Socialist party into a majority within the Reichstag, then sat by allowing the enabling act to take place, then allowed for a national gun grab, then allowed for mass deportations and executions. Very fearful sheeple, these Germans folks.
I seem to recall an instance where Buffet compared his tax returns to mid level employee of one of his firms, and he paid less of a percent of taxes.
Buffett is definately one rich guy who gets it. He knows that welfare capitalism is the only form of capitalism that actually works. Its refreshing to see a rich person think like this.
Yes, he has brought it up before, and the interview above was just this month so he is sticking to it.
It didn't say anything about a 'movement', but the petition is being sent to Merkel.
You seem to be presenting it as one. My apoligies if I misread the intent.
Anyway, thats .002% of all wealthy Germans think higher taxes are in order.
I'll bet a greater number run around naked and howl at the moon once a month.
Although with Germanys socialism, it may just be that the system could be changed because .02% want to throw more money at the 100% that are in power.
What a surprise. After all, the Germans were gullible enough to elect the National Socialist party into a majority within the Reichstag, then sat by allowing the enabling act to take place, then allowed for a national gun grab, then allowed for mass deportations and executions. Very fearful sheeple, these Germans folks.
So, you are basically saying that Germans are a bunch of idiots.
Isn't it convenient that you can always go back to the Nazi years when talking about today's Germany?
I seem to recall an instance where Buffet compared his tax returns to mid level employee of one of his firms, and he paid less of a percent of taxes.
When your total income is $100K a year, as a percentage of income it isnt difficult to find tax writeoffs to lower ones taxable rate
Quote:
Originally Posted by Randomdude
Buffett is definately one rich guy who gets it. He knows that welfare capitalism is the only form of capitalism that actually works. Its refreshing to see a rich person think like this.
Another flawed premace, Buffets corporation has not received any "welfare" from the government, buying and holding onto stock positions, then talking others to invest based upon previously appreciated paper profits isnt welfare, but since you claim it is, and like how he thinks, how much has he reinbursed the taxpayers for your imaginary "corporate welfare"..
ZERO..
And now you think its refreshing to see billionaires paying zero...
So, you are basically saying that Germans are a bunch of idiots.
Isn't it convenient that you can always go back to the Nazi years when talking about today's Germany?
Just like capturing former commandants of the camps, there is no statute of limitations regarding the stupidity of the Germans for electing the National Socialists. If there's one thing that proved from now to eternity, it's when you order them to jump, they will always respond with "how high?".
Another flawed premace, Buffets corporation has not received any "welfare" from the government, buying and holding onto stock positions, then talking others to invest based upon previously appreciated paper profits isnt welfare, but since you claim it is, and like how he thinks, how much has he reinbursed the taxpayers for your imaginary "corporate welfare"..
ZERO..
And now you think its refreshing to see billionaires paying zero...
Do you speak English, or do you just make up strawmen for the fun of it? Judging from this reply, Im going to give you the benefit of the doubt, and assume you struggle with English, since this reply doesnt have remotely anything to do with anything I said.
Just like capturing former commandants of the camps, there is no statute of limitations regarding the stupidity of the Germans for electing the National Socialists. If there's one thing that proved, it's when you order them to jump, they will always respond with "how high?".
Why don't you start another thread about how stupid Germans are.
Yes, as you say, he was talking about the rates and loopholes. He said that the rich need to pay more taxes, because there are so many loop-holes for the rich that they end up paying a lower rate than their emiplyees whose incomes are only a fraction of theirs. His secretary was being taxed at a higer rate than himself.
It is what it it, and like I said I don't agree with the approach myself.
I am not sure if you can donate money to the government, without throwing off their books. I simply don't know if that is possible.
Warren BUffet, the renowned investor and the world’s second richest man, told Senate Democrats that wealthy Americans need to pay higher taxes, giving Democrats something to mull as they address healthcare reform and soaring federal deficits.
Senate Democrats met with Buffett for more than an hour over lunch Thursday, peppering him with questions about the economy, said lawmakers in attendance.
“He said rich people are not paying enough taxes,” said Sen. Claire McCaskill (D-Mo.). “It was interesting to see someone who is such an aggressive capitalist, who believes so much in our capitalist system, saying we’ve got the scales way too heavily toward people who are very, very wealthy.”
Buffett told lawmakers that because of the cuts to the capital gains tax passed under former President George W. Bush, he pays taxes at a lower rate than some of his company’s employees.
It is an argument the investor has made before. Buffett said he paid a 16.5 percent tax rate on all his income because the tax rate on investment dividends and long-term capital gains is only 15 percent.
I know all about Buffetts secretary paying a higher percentage of taxes, Buffet is a man I study very closely.
Rich people arent paying higher taxes in america because we get taxed upon income. Since Buffet doesnt convert his assets to income, i.e. never sells his stocks, the result equals no taxes. This also is the reason why his company doesnt pay out dividends, because he seens no reason for the investors to get double taxed, first at the corporate level, and then when they receive dividends.
Buffet has always paid a lower rate than his companies employees simply because he never sells stocks that he acquires, (I think in his whole history of buying stocks in companies, he has sold out two). This was the same before, and after the changes in the taxrate passed by Bush.
We have ALWAYS paid taxes based upon income, thats why its an income tax.. If Buffet does not collect income from his investments, he does not pay taxes. (I myself follow a very similar investment strategy, you'll recall that I also do not pay income taxes).
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