Warren Buffett: Stop Coddling the Super-Rich

Discussion in 'Politics' started by Lakhota, Aug 15, 2011.

  1. Lakhota
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    Lakhota Diamond Member

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    OUR leaders have asked for “shared sacrifice.” But when they did the asking, they spared me. I checked with my mega-rich friends to learn what pain they were expecting. They, too, were left untouched.

    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.

    These and other blessings are showered upon us by legislators in Washington who feel compelled to protect us, much as if we were spotted owls or some other endangered species. It’s nice to have friends in high places.

    Last year my federal tax bill — the income tax I paid, as well as payroll taxes paid by me and on my behalf — was $6,938,744. That sounds like a lot of money. But what I paid was only 17.4 percent of my taxable income — and that’s actually a lower percentage than was paid by any of the other 20 people in our office. Their tax burdens ranged from 33 percent to 41 percent and averaged 36 percent.

    If you make money with money, as some of my super-rich friends do, your percentage may be a bit lower than mine. But if you earn money from a job, your percentage will surely exceed mine — most likely by a lot.

    MORE: http://www.nytimes.com/2011/08/15/o...h.html?_r=1&smid=tw-nytimesbusiness&seid=auto
     
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  2. Toro
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    Toro Diamond Member

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    I almost never allow taxes to alter my investment decision-making process.

     
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  3. BoycottTheday
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    BoycottTheday CEO

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    There is no money in taxing the rich, the real money is taxing the middles class, cant you people do math?

    No matter,y'all just making the underground economy look better every time you type what you think.
     
  4. JoeB131
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    JoeB131 Diamond Member

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    Again, if Mr. Buffet doesn't think he's paying his fair share, there's nothing stopping him from writing a big check to the Federal Government.

    Come on, Warren, put your money where your mouth is.
     
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  5. BoycottTheday
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    BoycottTheday CEO

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    And the real rich dont even bother living here so how are you going to tax them in the first place.

    Their money is untouchable, people need to wake up, its the middle class thats under assault, not the poor or rich.

    :eusa_whistle:
     
  6. waltky
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    waltky Wise ol' monkey Supporting Member

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    Granny says, "Dat's right...

    ... dat's whats wrong with dis country...

    ... dem rich folks ain't payin' their fair share o' taxes."
    :eek:
     
  7. CrusaderFrank
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    CrusaderFrank Diamond Member

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    Buffett has almost all of his assets in a trust that can't be taxed. LOL What a Limousine Liberal!

    Taxes for thee, but not for me!

    Some animals are more equal that others
     
  8. editec
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    editec Mr. Forgot-it-All

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    Now if somebody who wasn't superrich pointed out the REALITY of taxes, they'd be accused of CLASS ENVY.

    But as Warren is among the richest of the rich who is telling it like it REALLY IS, well....the apologists for the Bankster class cannot accuse of him class envy or being a socialist or a communist, so they fire their only ad hominen shot.

    He is a (gasp!) liberal!

    No he's not.

    He's a nationalist who worrys about what is happening to this nation.

    Unlike his so-called conservative detractors who clearly don't give a flying fork what happens to this nation.
     
    Last edited: Aug 15, 2011
  9. Lovebears65
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    Lovebears65 Gold Member

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    I am sure he is donating mulit millions to Obama relection fund:cuckoo:
     
  10. Sallow
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    Sallow The Big Bad Wolf. Supporting Member

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    He has..

    Op-Ed Contributor - Warren Buffett - Buy American. I Am. - NYTimes.com

    He flooded the market with his own money to add liquidity when the markets were in panic.

    It staggered to the decline.
     

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