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Buffet says tax the super rich

D

dmcowen674

No Lifer
Wow, did he just piss off a bunch of people in the upper echelon or what?

How many of the super rich in here just got pissed at him?

I doubt that the politicians will pay any attention to him.
Seems like they are just waiting for him to kick the bucket.


8-15-2011

http://news.yahoo.com/stop-coddling-super-rich-buffett-084140678.html

Stop coddling the super-rich: Buffett


Billionaire Warren Buffett urged lawmakers to raise taxes on the country's super-rich to help cut the budget deficit, saying such a move will not hurt investments.

"My friends and I have been coddled long enough by a billionaire-friendly Congress. It's time for our government to get serious about shared sacrifice"



Buffett said his federal tax bill last year 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," he said.

Buffett said higher taxes for the rich will not discourage investment.


"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," he said


"People invest to make money, and potential taxes have never scared them off."
 
This is not news.

June 28, 2007: Warren Buffett: Tax the Rich! http://www.cnbc.com/id/19483842/Warren_Buffett_Tax_the_Rich

Nov 22, 2010: Warren Buffett agrees: Tax the rich
http://news.yahoo.com/blogs/ticket/warren-buffett-agrees-tax-rich.html

Oh, and two threads from seven years ago where even you are posting comments on Buffet's positions on taxing the rich more:

http://forums.anandtech.com/showthread.php?t=1273728&highlight=buffet+tax
http://forums.anandtech.com/showthread.php?t=1275159&highlight=buffet+tax
 
17.4% when his office employees average rate is 36%!

Warren Buffet gave away a majority of his wealth and is still insanely rich.
 
Guess what? If he wants to give his money away, the US treasury accepts cash, credit, check, and gold.
 
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.
 
PokerGuy

His opinion is not important? He has experience with investors that far exceeds anybody in Congress. He is one of, if not the most successful investors of all time.

The Right says higher taxes will hurt investment. Buffet calls that BS. I'd bet he is far more qualified to judge than most any other person in the country.

Not important my ass.
 
jackschmittusa said:
PokerGuy

His opinion is not important? He has experience with investors that far exceeds anybody in Congress.
Click to expand...

His expertise is in investment, not tax policy or government policy. His opinion is irrelevant. As I posted before, if he really feels the need to have DC waste more money, he can send a check to the IRS any time he wants.
 
PokerGuy said:
jackschmittusa said:
PokerGuy

His opinion is not important? He has experience with investors that far exceeds anybody in Congress.
Click to expand...

His expertise is in investment, not tax policy or government policy. His opinion is irrelevant. As I posted before, if he really feels the need to have DC waste more money, he can send a check to the IRS any time he wants.
Click to expand...


His skill is not in job creation, it is in wealth creation
 
Warren Buffett gave away 99% of his wealth.

How can you say anything bad about a person that gives away his wealth?

The guy is a genius and his expertise is asset allocation which is highly dependent on tax considerations.

He knows taxes better than anybody.

“People invest to make money, and potential taxes have never scared them off,” he said. “And to those who argue that higher rates hurt job creation, I would note that a net of nearly 40 million jobs were added between 1980 and 2000. You know what’s happened since then: lower tax rates and far lower job creation.” Warren Buffet
 
sarsipias1234 said:
Warren Buffett gave away 99% of his wealth.

How can you say anything bad about a person that gives away his wealth?

The guy is a genius and his expertise is asset allocation which is highly dependent on tax considerations.

He knows taxes better than anybody.

“People invest to make money, and potential taxes have never scared them off,” he said. “And to those who argue that higher rates hurt job creation, I would note that a net of nearly 40 million jobs were added between 1980 and 2000. You know what’s happened since then: lower tax rates and far lower job creation.” Warren Buffet
Click to expand...

But I thought the super-rich were all greedy thieving bastards?
 
PokerGuy said:
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.
Click to expand...

Their is a huge difference from wanting to be taxed at a higher rate than wanting to donate your money to the fed. He wants the latter for all the super rich, not just himself.
 
PokerGuy said:
His expertise is in investment, not tax policy or government policy. His opinion is irrelevant. As I posted before, if he really feels the need to have DC waste more money, he can send a check to the IRS any time he wants.
Click to expand...

Exactly. He is an investor and he is even admitting that the tax rate when higher does not scare away investors. So yes his opinion is relevant.
 
PokerGuy said:
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.
Click to expand...

I figure a guy who studied economics, dominated the market, and knows more about cash flow, accounting, leakages, and white color politics than the president Obama, would have a more than welcoming opinion on how to govern our economy.
 
It's a farce, the problem has always been the loopholes, and since the supreme court says corporations are people too let's close the loopholes that lets a company like GE pay no taxes while moving jobs overseas.
 
Regs said:
I figure a guy who studied economics, dominated the market, and knows more about cash flow, accounting, leakages, and white color politics than the president Obama, would have a more than welcoming opinion on how to govern our economy.
Click to expand...

Quit using logic on the conservatives, to them that's the equivalent of using a racial slur!
 
PokerGuy said:
His expertise is in investment, not tax policy or government policy. His opinion is irrelevant. As I posted before, if he really feels the need to have DC waste more money, he can send a check to the IRS any time he wants.
Click to expand...

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.
 
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!
 
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