Buffet says tax the super rich

[matt0611]

Buffet should write out a check to the treasury, whats he waiting for?

How about 5 or 10 billion? He's got plenty of money. Put your money where you mouth is and set an example instead of writing op-eds about it.

 

[fskimospy]

Buffet should write out a check to the treasury, whats he waiting for?

How about 5 or 10 billion? He's got plenty of money. Put your money where you mouth is and set an example instead of writing op-eds about it.

I have a serious question for you. Do you understand why this argument that you are making is dumb? Do you understand the difference between advocating for collective action that you would participate in, and unilaterally undertaking action that would have no effect?

As I have done many times, compare this to a war. If you advocate for going to war with a country, can you see the difference in electing to participate with a collective war action as opposed to picking up a rifle and conducting a solitary invasion? Can you see why even someone who supported the war would be a moron for doing that, and how their support for the war would in no way be undermined by declining the solo invasion option?

 

[Pens1566]

His opinion is no more important than Justin Bieber's opinion on object oriented programming. Who cares? When he talks investment strategy, let me know, I'll listen. Otherwise, what he has to say is irrelevant. If he wants to get taxed at a higher rate, there's nothing preventing him from mailing a check to the IRS.

Dumbest post of the day. So far.

 

[airdata]

Can somebody explain why people care so much what this guy has to say?

From what I gather, he's simply an early adopter sort who made alot of money in the stock market etc. Like many, many other people of earlier times, there are more educated, smarter people being churned out of our universities every day.

You can stop by a thread and say FIRST! but what have you really contributed to the thread?

 

[Bowfinger]

Hey guys, when one of the most successful investors of all time talks about tax rates on investment, we should ignore him!

Lets be honest here, your real argument was: "This guy said something that I ideologically disagree with. Instead of question my ideology in the face of qualified and credible opinion, I must find a way to make him unqualified and non-credible in my mind."

Also, how many times will people keep trying to use the 'if you support higher taxes give your money to the government right now' argument? How many times do you need to be shown how hilariously bad that argument is? It wouldn't even pass muster in 5th grade.

Indeed. Yet fools -- and ideological sock puppets -- rush in where 5th graders fear to tread:

Hey, Warren, STFU or get out your check book and write a really big check to the US Government. Trust me they will take it. I say make that cheack for....$10 billion. You can afford it. Either write the check or STFU!

Buffet should write out a check to the treasury, whats he waiting for?

How about 5 or 10 billion? He's got plenty of money. Put your money where you mouth is and set an example instead of writing op-eds about it.

It is a really dumb argument boys. Really. Dumb. Try harder.

 

[fskimospy]

Can somebody explain why people care so much what this guy has to say?

From what I gather, he's simply an early adopter sort who made alot of money in the stock market etc. Like many, many other people of earlier times, there are more educated, smarter people being churned out of our universities every day.

You can stop by a thread and say FIRST! but what have you really contributed to the thread?

His investment company Berkshire Hathaway generated a 76% return on investment from 2000-2010. During this period, the S&P 500 generated a -11% return on investment.

If universities are regularly churning out lots of better investors than Warren Buffet, they must have just started doing so in the last year and a half.

 

[Pens1566]

His investment company Berkshire Hathaway generated a 76% return on investment from 2000-2010. During this period, the S&P 500 generated a -11% return on investment.

If universities are regularly churning out lots of better investors than Warren Buffet, they must have just started doing so in the last year and a half.

Be nice. He probably watched "The Social Network" and thought it was common occurrence.

 

[piasabird]

I am all for changing capital gains tax on people with 1 million $ of income or capital gains. That way only the ultra rich pay! However, when you penalize some guy who lives and works in an area that has a high cost of living because his house costs $500,000 this may or may not make sense. In certain cities this may be a starter house. That may be a bargain in Chicago.

 

[Don Vito Corleone]

Hey, Warren, STFU or get out your check book and write a really big check to the US Government. Trust me they will take it. I say make that cheack for....$10 billion. You can afford it. Either write the check or STFU!

How old are you again? This is the most simplistic and juvenile argument I've read all day, and the only one that includes the expression "STFU" more than once. Why shouldn't one of America's most accomplished moneymakers have the right to speak his mind on matters relating to our budget? The revenues that would be generated by what he's proposing are far greater than he could individually donate, particularly since he has donated most of his wealth to the Gates Foundation.

 

[Fear No Evil]

How old are you again? This is the most simplistic and juvenile argument I've read all day, and the only one that includes the expression "STFU" more than once. Why shouldn't one of America's most accomplished moneymakers have the right to speak his mind on matters relating to our budget? The revenues that would be generated by what he's proposing are far greater than he could individually donate, particularly since he has donated most of his wealth to the Gates Foundation.

I thought the left's mantra lately was that the rich evil people run the government and should stay out of politics? Now the left is screaming for a rich evil person to tell them what to do?

Perhaps if Buffet is interested in determining our national fiscal policies he should run for President.

 

[fskimospy]

I thought the left's mantra lately was that the rich evil people run the government and should stay out of politics? Now the left is screaming for a rich evil person to tell them what to do?

Nope, they sure never said that. Maybe you should spend less time inventing things for leftists to think and more time actually reading what they think. It would help everyone. You would be more informed and could argue more effectively against it, and we wouldn't have to read any more of these insane and delusional posts.

 

[Don Vito Corleone]

I thought the left's mantra lately was that the rich evil people run the government and should stay out of politics? Now the left is screaming for a rich evil person to tell them what to do?

Perhaps if Buffet is interested in determining our national fiscal policies he should run for President.

Again, your analysis is laughably simplistic. Even if, for purposes of discussion, most liberals think that "rich evil people run the government" (which I don't believe is the case), this particular rich person is speaking out for the proposition that rich people are being undertaxed - he is speaking against his own personal interest. Why wouldn't a liberal embrace this position? By your logic, since the world thinks OJ Simpson is a liar, we shouldn't believe him if he suddenly confesses to killing Nicole Brown Simpson.

 

[the DRIZZLE]

I partially agree with Buffet. The low capital gains that allows the super rich to have very low effective tax rates is ridiculous and should be fixed. However, that doesn't change the fact that the deficit is still mostly a spending problem.

 

[jackschmittusa]

airdata

If you actually knew Buffet's history, you'd know why what he says is worth listening to.

His history in investments has lasted nearly 60 years, not simply "made a lot of money a long time ago", and has handled thousands of other investor's money too. Through all of these decades in which taxes rose and fell, he has observed first hand how investors react with their money. And not only watched what these people do, but personally spoken to thousands of people about their investment goals and strategies in every kind of tax environment.

I cannot imagine a more qualified person to comment on the issue of correlation between taxes and investing.

 

[BoberFett]

I partially agree with Buffet. The low capital gains that allows the super rich to have very low effective tax rates is ridiculous and should be fixed. However, that doesn't change the fact that the deficit is still mostly a spending problem.

This. Go ahead. Jack up the rates on the wealthy. That will generate a few billion a year.

What's next?

 

[soulcougher73]

How old are you again? This is the most simplistic and juvenile argument I've read all day, and the only one that includes the expression "STFU" more than once. Why shouldn't one of America's most accomplished moneymakers have the right to speak his mind on matters relating to our budget? The revenues that would be generated by what he's proposing are far greater than he could individually donate, particularly since he has donated most of his wealth to the Gates Foundation.

Yeah its funny how this conservatards say his opinions dont matter on this subject but then go on to give their opinion as if they are some how more qualified than he is. Delusions of grandeur.

 

[Zorba]

This. Go ahead. Jack up the rates on the wealthy. That will generate a few billion a year.

What's next?

I think it is funny how when people talk about balancing the budget there is always this "Its only a few billion a year" or "Only 10 billion a year, we need something big." Guess what, to truly balance the budget will take tons of these billion here and billion there decisions. There is no massive silver bullet that will fix everything.

This is why congress will not balance the budget any time soon and especially not in a way that actually makes sense. It is easier for the no back bone crowd to cut 10% from everything, than here about how someone's pet program was cut even though it only saved "a few billion" a year.

 

[soulcougher73]

This. Go ahead. Jack up the rates on the wealthy. That will generate a few billion a year.

What's next?

Glad you agree about the jacking rates on the wealthy. Do you have any other ideas youd like to share as well to trim a few billion here and there? You act as if their is one single program out their that can be cut and all our troubles will just go away. It takes cuts from every program and increased short term revenue to balance this budget mess were in.

 

[boochi]

Where do you draw the line at "Super Rich". Obama thinks this class is anyone over 250k.

 

[Don Vito Corleone]

Where do you draw the line at "Super Rich". Obama thinks this class is anyone over 250k.

Would it kill you to read the article before commenting? Your post is irrelevant to anyone who has actually bothered to read what Buffet wrote.

 

[Fear No Evil]

I think it is funny how when people talk about balancing the budget there is always this "Its only a few billion a year" or "Only 10 billion a year, we need something big." Guess what, to truly balance the budget will take tons of these billion here and billion there decisions. There is no massive silver bullet that will fix everything.

This is why congress will not balance the budget any time soon and especially not in a way that actually makes sense. It is easier for the no back bone crowd to cut 10% from everything, than here about how someone's pet program was cut even though it only saved "a few billion" a year.

When the Republicans cut 30 billion which was really a bunch of smoke a mirrors the lefties in this country went NUTS screaming it was going to destroy the economy. Do you guys forget what happened just a short couple of months ago?

 

[soulcougher73]

Where do you draw the line at "Super Rich". Obama thinks this class is anyone over 250k.

You'll never be it, so dont worry about it.

 

[soulcougher73]

When the Republicans cut 30 billion which was really a bunch of smoke a mirrors the lefties in this country went NUTS screaming it was going to destroy the economy. Do you guys forget what happened just a short couple of months ago?

Do you remember Bush's years? It was only a short couple of years ago after all. Funny how the GOP flips their attitude once their is Dem president. "Cut, Cut Cut...oh wait..we have a GOP pres now? Spend, Spend, Spend"

 

[boochi]

Would it kill you to read the article before commenting? Your post is irrelevant to anyone who has actually bothered to read what Buffet wrote.

I read the article dipshit and nowhere does he say where you should draw the line.

 

[soccerballtux]

"I have worked with investors for 60 years and I have yet to see anyone - not even when capital gains rates were 39.9 percent in 1976-77 - shy away from a sensible investment because of the tax rate on the potential gain,"

you offset the investment risk by the potential gain. If you lower the potential gain (taxes), the investment becomes less worthwhile.
Higher tax on the gain just means a project is less likely to get investment.