US

Buffett Attacks ‘Trickle Down’: Calls for Higher Taxes on the Wealthy

Quick test…is Warren Buffett the wealthiest man in the world?  Nope.  Wikepedia says he’s running number three right now.  And he might not be gunning for number one if you follow his arguments on ABC News this morning.  The headline on the ABC News post is, “Read my lips, raise my taxes.”

“If anything, taxes for the lower and middle class and maybe even the upper middle class should even probably be cut further,” Buffett said. “But I think that people at the high end — people like myself — should be paying a lot more in taxes. We have it better than we’ve ever had it.”

Buffett Attacks Trickle Down: Calls for Higher Taxes on the Wealthy

ABC News is releasing advance clips of the interview which while air in full on a “special Thanksgiving edition of ‘This Week.’”

The billionaire brushed aside Republican arguments that letting tax cuts expire for the wealthy would hurt economic growth.

“They say you have to keep those tax cuts, even on the very wealthy, because that is what energizes business and capitalism,” anchor Amanpour said.

“The rich are always going to say that, you know, just give us more money and we’ll go out and spend more and then it will all trickle down to the rest of you. But that has not worked the last 10 years, and I hope the American public is catching on,” Buffett explained.

Comments (309)

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  • FormerLib
    Posted on November 21, 2010 at 5:14pm

    Why do we accept the premise that people who make more money somehow owe the rest of us a higher percentage of what they make? And why are tax hikes a first resort, and cutting the budget is seen as impossible? Does anyone without a D after their name really believe that the country would fold if we spent 20% less? I remember the the 70s and early 80s when federal spending was 30% of GDP and we were screaming then about runaway spending. Today, it’s over 80% and expected to go over 110% in 15 years. We cannot sustain this level of spending, even if we taxed every person making over 500k a year 100% of their income.

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    • moonpeace
      Posted on November 21, 2010 at 6:10pm

      I too am a recovering liberal, although I practised it a long time ago…when I was young and stupid. As a selfish liberal, I wanted all the handouts I could get…every single entitlement that was available and even more than that. I wanted most things–short of murder, rape, and child molestation–to be made legal, especially the use of drugs, prostitution, and gambling. I refused to join any branch of the military under the pretense that war was wrong and I didn’t want to kill anybody, when in fact, the real reason was that I was a coward. But God is great, and God is merciful, and somehow I grew up and became a conservative…the true patriot that I was meant to be. Liberals haven’t a clue of the purpose of life.

      Report Post » moonpeace  
    • EP46
      Posted on November 22, 2010 at 10:47am

      The money BELONGS to the EARNER…..NOT the government. Poor people do NOT hire people, do NOT build businesses, do NOT invest in research, etc…..STOP spending the people’s money….it does NOT belong to the government…..STOP CONFISCATING the People’s money…..STOP SPENDING

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  • subflavus
    Posted on November 21, 2010 at 5:10pm

    Another argument based on the flawed premise that I call the Big Lie of the Left, which is that there is no corruption if the government controls things. There is thousands of years of evidence that the government irresponsibly and many times unethically spends the revenue it takes in. Why people keep believing otherwise is beyond me. Just look at Social Security. It’s a Ponzi scheme, and if I ran an investment scheme like that I’d get put in jail.

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  • Nervous Investor
    Posted on November 21, 2010 at 5:09pm

    Buffet is more than slightly selfish. He has a job though he does not need one. He has wealth beyond any need he may ever have. He has massive income in excess of his needs and he is failing to invest that surplus income proportionately in new enterprises and is thus depriving ordinary people the benefit of employment, the nation of increased GDP and the State of increased taxes on newly created income. He is no example to follow. What is important is that folks in such positions of privilege invest their surpluses in new enterprises – better yet in new PRODUCTIVE enterprises. If Buffet and his ilk choose not to invest their surplus earnings then they are most welcome to DONATE it to a) others who do wish to create new enterprise or b) charitable organizations or c) the State to help pay down the national debt.

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  • APatriotFirst
    Posted on November 21, 2010 at 5:03pm

    Does anyone see what is happening here besides me? Obama wants tax breaks but not for over 250k. So here comes his bud Buffett, saying tax the rich more. Just what Obama wants. Even the rich finds their way up Obama’s rearend. Amazing!And just in time and on cue too.

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  • HughJidette
    Posted on November 21, 2010 at 5:02pm

    The whole problem with raising taxes (because I believe in paying my fair share) is that no matter what the tax rate is, or who is paying the bulk of taxes taken in, the money is not spent wisely. The more MONEY that is taken in, the more THEY have to waste. The waste is obscene. I would happily give more, if I knew that every dime spent, was scrutinized, prioritized, and used to it’s maximum benefit.

    I am careful with my money; we budget, we save, we work hard, and we willingly help others. I have seen no proof that this Administration does the same thing WE THE PEOPLE are expected to do.. I have seen no evidence that anyone in the Administration (specifically the POTUS) is very smart, nor that they are efficient, logical, or interested in cutting wasteful spending by “going over the budget, (if there were one) line by line with a scalpel” . LOL

    I just hope we, as a collective group, do not lose our energy (or all of our money) before 2012. This struggle has just begun.

    Report Post » HughJidette  
    • moonpeace
      Posted on November 21, 2010 at 5:58pm

      You are being too gentle with this Administration in saying they are not very smart. Calling an ace an ace, the fact is that this administration is downright stupid and as wrong as wrong can be. Thet do not understand kindness and we must be forthright. As Coulter said so correctly, “Liberalism is a disease.”

      Report Post » moonpeace  
    • davecoolworld
      Posted on November 22, 2010 at 12:34am

      Moonpiece…this administration is smart. That is not to say they know what they are doing with the economy. They don’t care about the economy! They are trying to break the country. They are smart in a diabolical sense. The crushing debt, the drilling moratorium still in effect, the printing of cash at a faster pace than Carter, borrowing money from overseas countries whom are not our friends, being in bed with socialists, communists, revolutionaries, entering into treaties that help the other parties, Obama’s private army, weakening our national security, sorry about the run-on sentence but, my goodness…why can’t you see? I could cite hundreds of examples, literally. They are geniuses because they are stupid, they don’t realize what the endgame will mean. They have every intention of paying back our debts but, at 10 cents on the dollar, because that’s what a dollar will be worth when they are through. Next time you get a credit card offer in the mail, look at the interest rates they are offering. The 10 years treasury bill is at 2.62 percent. The treasury knows we are not getting healthier. Have you noticed the price of food lately? How about gas? Wait til you see the utility rates this winter. Inflation is coming on like a freight train and this government is still spending. It will collapse, it must collapse, for the sheer stupidity is genius. Obama…just a stooge actually. A useful idiot who will be cast aside in the new world order. If Obama moderates as Clinton did in the his first term, the people he has surrounded himself with will take him out. The Cause is bigger than him and he is expendable. Obama is in danger not from the right or conservatives. He is in danger from those who are closest to him and they are evil. They wish to bring The United States of America down. There is a problem…just like the Japanese in 1941, they underestimate the power of We The People and the power of a 6 page document called The Constitution of The United States of America.

      Report Post » davecoolworld  
  • Gas137
    Posted on November 21, 2010 at 4:55pm

    So, the rich have a lot of money but they don’t spend it? I see lots of luxury cars around – that money doesn’t trickle down?

    Report Post » Gas137  
  • win
    Posted on November 21, 2010 at 4:52pm

    Warren Buffet, Bill Gates, George Soros – yea, they want higher taxes, they making their money off government spending

    No new taxes – cut spending

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  • Frank Newell
    Posted on November 21, 2010 at 4:45pm

    ABC is correct with Mr Buffets statements and His logic. The government needs our capital to fund our mandates and obligations. Where they are wrong is that though we are in massive debt and have crippling obligations it is our own government that has decided against us in the spending of said revenues. We said no to healthcare- passed we said no to bailouts- passed. We no longer hold accountable the people we send forth to Represent US. We as a society have grown weak and lazy only concerned about how we as individuals can prosper and avoid the hard choices. The days of personal responsability and accountability have been waning for a long time. My parents used to say do not run from your problems no matter how hard they are instead confront them and conquer them for if you dont they grow and will consume you. As I have aged I see all around me people running from hardship and crying about how its not fair and someone to come and help them help yourself I say stand up and shoulders straight and fight through the difficulties. People need to realize the life was and never is fair, the choices and challenges that we face are what makes us who we are and where we end up.

    Report Post » Frank Newell  
    • abc
      Posted on November 21, 2010 at 5:28pm

      In the toughest economy in 70 years, there are also a lot of people who could use a temporary helping hand. They are not lazy or bitter, but just facing tough luck. There is nothing wrong with helping them with gov’t funds. That is the very definition of a safety net. Also, your implicit message is that the gov’t is spending more than we authorized. This is not true. The majority of people have supported most every spending plan congress has passed. The problem is that the voters are dumb and believe what the politicians tell them: that you can have your cake and eat it too. Politicians, of course, are incented to lie to stay in office, but voters ought to know better. That they do not is a problem. Also, those that say we cannot raise taxes must say what can be cut to hold the line on taxes but balance the budget. They cannot, so taxes must be raised. You cannot have your cake and eat it too.

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    • GhostOfJefferson
      Posted on November 21, 2010 at 8:01pm

      Actually we protested until the cows came home, told them we’d vote them out, and voted most of them out. We’ve held them accountable, sir. The problem is, they don’t care, they‘ll absorb the newcomers into the cadre and we’ll continue to sink in debt. None of us want this. Nobody. They’ll force it on us anyway. At this point, 2010, we’re blameless, we’ve done what we could short of shooting the bastards.

      Report Post » GhostOfJefferson  
    • SunnyJ
      Posted on November 21, 2010 at 10:04pm

      ABC comments, “In the toughest economy in 70 years….” You are dreaming. Apparently, you are too young to remember the 1970‘s and early 80’s. Check out the hyper inflation, unemployment, commodity prices, mortage rates…you name it. Just because you’re living through it now, doesn’t allow you to revise the reality. This is not the great recession compared to the complete shut down of the rust belt in the 70′s. I notice from this entire discussion that you really like to set your voice up as the expert with “facts”. You’re in an echo chamber all by yourself and you keep shouting, “I’m the smartest guy in the room” and hearing the echo does not increase the vote. You’re the only one that thinks so. And while we’re at it, the oracle himself is pretty darn disingenous on this “raise taxes” on the richest statement. You do understand how he makes his money right? You do realize raising tax rates works on his behalf, right? If not, you need to get educated and do your homework. And, here’s just one more helpful hint: really, really smart people do not feel the need to call other people stupid. Poor Einstein himself was labeled stupid for many, many years. You might just not get it…and don’t feel bad, that doesn’t make you stupid either.

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    • whybother
      Posted on November 21, 2010 at 10:46pm

      A Boring Commentator: 1st-you have proclaimed Buffet to be “brilliant”…why? because he learned his craft and made money investing in others talents? ok…..
      2-you have made so many misstatements and half-truths I cant keep up.
      Lets start here, shall we?
      fact #1-half this country already pays ZERO income tax. Why?
      fact #2-Spending is the problem NOT the tax revenue.
      fact#3-If yoru idols on the left WANT to give mroe they can, but choose to elude and evade all taxes, why?
      fact#4-$250,000 is NOT rich….not even close…..it is just about the level of living comfortably in most suburban areas, and before you attack that, I am saying that level of income for a family of four can live peacefully, enjoy vacations and other leisure activities without stress.
      fact#5-You continue to claim no conservative can refute the claim against reducing debt without raising taxes….ok, here goes: CUT EXPENDITURES! If you work within a budget, without “deficit spending” there is absolutely, positively no way humanly possible to NOT reduce the debt, genius!
      fact#6-Hilarious is spelled as I have here, not with two “ll”s. duh!
      Have a nice day!

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  • AmericanLass
    Posted on November 21, 2010 at 4:45pm

    Then he should give all his worldly goods and follow his master. No one is stopping him.

    Report Post » AmericanLass  
  • LadyIzShy
    Posted on November 21, 2010 at 4:39pm

    he has it better than ever? well I dont.. I am AFRAID of what is coming. My job does not pay my bills and allow us to eat. I am slooking for a second job but here in MI thats almost impossible.. move you might say.. well my house is paid for and i can not sell it for enough to buy another home.. again MICHIGAN..thank you UAW thank you to all the prgressives who do not seem to know that if those with money do not have money to hire I can NOT work..

    Report Post » LadyIzShy  
  • Lssmc
    Posted on November 21, 2010 at 4:37pm

    ABC
    If you soak the job creators then they won’t expand their businesses. Every job you create brings tax revenue to our country, both local and federal. Your argument doesn’t hold water. Obama wants to raise taxes on everyone filing for over 250k a year. That includes small businesses. When are you tax and spend liberals going to wake up?

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    • abc
      Posted on November 21, 2010 at 5:21pm

      You should read a real piece of news commentary some time. Here are the incontrovertible facts: 1) the non-partisan CBO ranked tax cuts or holding taxes at current levels (vs. raising them) on the rich to be DEAD LAST in economic stimulative effect amongst 16 policy options; 2) less than 3% of those earning above 250K per year are small businesses, and a large chunk of that 3% are hedge funds and other rich LLC and S-corps, so the small business argument is totally bogus; moreover, you can tax the other 97% while structuring the tax NOT to hit job-creating new businesses. The GOP doesn’t want you to know that because they want you to falsely believe that your interests are the same as rich hedge fund managers; and 3) Obama has already cut taxes on small business twice–once as a part of the stimulus package that conservatives hate, and once as a part of the health care reforms that they want to repeal.

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    • Lssmc
      Posted on November 21, 2010 at 5:37pm

      The non-partisian CBO? According to who?. They were the first to declare that Obamacare would not raise health care cost to help get that monstrosity through. Based on What? My insurance went up 40%. Yes, you heard me right. My small company employes 3 people. My premium went up a thousand dollars a month. Meanwhile 111 companies have been wavered. They want to soak me to pay for others.

      Why don’t you go to the Daily Kos or Huffington. You will be in good company.

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    • 338lapua
      Posted on November 21, 2010 at 8:02pm

      @abc, representing your opinions as “incontrovertible facts” doesn’t make them so. Your “facts are more like leftist talking points. Simply repeating them does not make them any more true than they actually aren’t. The proof is the current conditions we are living with. Just because you don’t like the Laffer curve data, does not make it false. Laffer reported actual data and drew a conclusion based on that. Keynesian economics are theories….they cannot prove them. This is why the “stimulus” has failed. It is why QE-1, QE-2, and any other mis guided Keynesian BS that is tried will fail. When you think for yourself you will stop being a tool.

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    • Nvrforget
      Posted on November 21, 2010 at 8:58pm

      I actually believed that you knew what you were talking about until you mentioned the Laffer curve.

      Protip: That thing‘s a joke because it doesn’t make any predictions. How do we know when tax revenue starts to go down due to high taxes? Taxes could rise tenfold before that happens for all that we know. Please, if you want to have a discussion about economy, don’t mention that Keynesian wet dream.

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    • blazingglory
      Posted on November 21, 2010 at 10:42pm

      Guys, watch what ABC says. He does not state facts as he pretends and when you respond he twists your reply. Very clever but not even close to accurate. If we really look at what the CBO says ABC will have nothing to blab about. The CBO said, after given the corrected facts about health care that it will cost trillions more than they were quoted by the Dem’s when they passed the 2600 unread pages.
      CBO will tell you they are “garbage in garbage out” and the Dem’s give them the garbage. The CBO can only analyze what they are given!!!

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  • abc
    Posted on November 21, 2010 at 4:25pm

    I think it is HILLARIOUS that the very same conservatives that say that Obama is a menace to the economy because of the deficits and say that unemployment benefits should be ended for struggling families because of the deficits, those people say that we should make incremental taxes on rich people optional to close the gap between the tax base and the spending. This means that the tea party wasn’t really about deficits but only about winning elections for the hypocritical right. You cannot set tax policy on the basis of voluntary tax payments. Buffett is saying that only higher taxes will close the gap, and NO SINGLE CONSERVATIVE has ever been able to rebut his claim. So instead, they make stupid arguments about how Buffett and other rich people should voluntarily pay the difference. What nonsense. Only fools would rest our hopes of closing the budget deficit on that.

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    • Cuthalu
      Posted on November 21, 2010 at 4:46pm

      No one is stopping you or anyone else from paying more in taxes if you want to. Lead by example and pay more in taxes up to 100% for life if you want. Tell us how that works out for you all.

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    • APatriotFirst
      Posted on November 21, 2010 at 5:11pm

      Buffett has so many places tp legally hide his $$, that if he has 100Billion $, half of it is hidden in tax loop holes, so he only pays taxes on 50 Billion $. And tax write offs for all his charity donations save him another 10 Billion. So he is down tp 40 B now to pay taxes on.
      Which is why he can say…..*raise my taxes*
      So generous of him, isn’t it?

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    • BetterDays
      Posted on November 21, 2010 at 5:11pm

      ABC:
      do you want to be “bound, and cast out” into the air, or is it into the “pigs” again, “empathta”!

      Report Post »  
    • tommee
      Posted on November 21, 2010 at 5:13pm

      Hey ABC… it’s nice to read a voice of reason on this blog for a change. Most commentators around these parts are dolts.

      Not only will higher taxes on wealthy individuals decrease the deficit, it will also encourage said individuals to keep money in their businesses for reinvestment, instead of sucking it out for stock market returns and offshore accounts.

      Report Post »  
    • APatriotFirst
      Posted on November 21, 2010 at 5:15pm

      Wonder why Reagan lowered taxes, and brought DOWN the budget, lowered unemployment and made it work?
      Wonder how that worked? Lower taxes for everyone too.

      Report Post »  
    • abc
      Posted on November 21, 2010 at 5:24pm

      APatriotFirst, the average tax receipts as a percentage of GDP was slightly higher when he left office than when he started. This is because he RAISED taxes in 1986 and because he closed a ton of loop holes, so the effective tax rate declines are not nearly as big as what conservatives think they were. This is not proof of supply side economics, but a one-time benefit from attacking a bunch of loop holes that caused people who officially were paying 50-60% rates but were actually paying 35-40% rates to pay them officially as well as effectively. We no longer have all of those tax loopholes, so this gimmick cannot be repeated to attempt to prove the now discredited supply siders right. Either way, Reagan cutting taxes and then raising them again hardly shows that Laffer was right.

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    • constitutionparty
      Posted on November 21, 2010 at 5:38pm

      @ ABC
      You also can’t set tax policy based on just running up the debt thinking that the US is just a bottomless ATM. Spending needs to be controlled first and foremost. Assuming that $250,000/yr is wealthy is also ncorrect. I own a small business and pay the taxes for the company. I want to reinvest it in the company but paying more in taxes just slows growth. I can’t hire more people.
      I believe that threshold could be $1 million plus. In addition, the 15% dividend tax could be raised for people that are making more than $100,000 in annual dividends. Those are the Idle rich not the working wealthy. Also, and I know this will never happen, put a $1.00/ gallon surcharge on Jet fuel that goes into private jets only. Warren would be against that because it would impact him. The left also would never go along because they just want everyone else to cut back on energy use.

      Report Post »  
  • the chemist
    Posted on November 21, 2010 at 4:24pm

    yea… people at the top that don’t own and operate manufacturering, chemical, engineering, etc., plants should be hammered… yes, hammered… i say buffet should pay 80%… HE WOULD LOVE IT! We could fulfill his dream! Tax him! He wants it! Seriously, i think Soros, Buffett, all basketball players, footballs players, baseball players (after all, they play the game of children)…hollywood actors – does anyone think an actor (basically a trained monkey) should receive 20 million for pretending! Tax them!… all actors now have to pay 80%… they’ll love it! As far as people earning 250K … this is not “wealthy”… i think it needs to be bumped up to a mill a year or more… where i live in silicon valley it takes big bucks to raise a family annd live the good life… and 250 doens’t cut it… i’d give a break to manufactureres, small biz people of all types… and before i forget, all the musicians earning millions… jay-z… you know, all the fellas selling crack and learning how to rap “on the job”… I’d hit them with 80% as well… (deep breath…ahhhhhh…i feel better)

    Report Post »  
    • the chemist
      Posted on November 21, 2010 at 4:30pm

      …can’t a guy rant every once in a while? sorry if i offended anyone…

      Report Post »  
    • OneFunR6
      Posted on November 21, 2010 at 11:59pm

      Not at all! When do these new rates kick in? Sooner than later, I hope….

      Report Post » OneFunR6  
  • APatriotFirst
    Posted on November 21, 2010 at 4:22pm

    Also remember that Buffett joined with Bill Gates to give away most of his fortune in charity help…….all going to foreign people in 3rd world countries. What a guy.

    Report Post »  
    • what4
      Posted on November 21, 2010 at 7:46pm

      Thats right all the people that made them rich in the first place,,,,,,oops my bad, wasn’t them!

      Report Post »  
  • nstrdnvstr
    Posted on November 21, 2010 at 4:19pm

    While I disagree with Buffett on this, in defense of him, we really don’t know if he writes an extra check to the feds, do we?
    And if he does, he at least puts his money where his mouth is.
    Many other liberals want the “other rich people” to be the ones that pay more in taxes. You know who I mean, people like Tim Geithner, Charlie Rangel, the Kennedys, etc.

    Report Post »  
  • NO_POTTERSVILLE
    Posted on November 21, 2010 at 4:19pm

    Rich people like Buffet don’t care about a few extra million here or there of taxes being taken. That’s like taking a few pennies out of his pocket. I bet if Obama were to tax them oh say 90%, Buffet and others like him would quickly change their tune.

    Report Post »  
  • adifftake
    Posted on November 21, 2010 at 4:19pm

    OK Buffy, I’ll play. How about you and your friend Billy, you know of Gates fame, get together and reveal your tax w-4 forms where it asks if you want additional taxes taken out? Why don’t you show everyone how you put an additional amount on the line.
    OH, I see. It’s just in word only and not deed. Here if you need a place to send some money why not send me a few million. I give you my solemn promise. I will only spend it on me. Frikkin fool.
    You haven’t been in the real world of struggle in many, many years. If you feel so strongly about it nothing is stopping you from sending your fortune to the greedy group in Washington.

    Report Post »  
    • WTP
      Posted on November 21, 2010 at 4:56pm

      They don’t choose to send their wealth to the government because they realize that they can spend it more wisely than those in D.C., they just want us to send ours, if we have any.

      Report Post »  
  • BoomerSoonerSchoonerCrooner
    Posted on November 21, 2010 at 4:18pm

    Ok, I would normally say tax everyone the same, but I might consider taxing anyone over $25,000,000,000 (twenty-five billion) at a higher rate. This guy doesn’t live in the real world as I know it. He may have a few cents to spare. I’ll bet his tax lawyers take every tax loophole they can find. I’m just not going to take any advice from someone that lives in such rare air!

    Report Post » BoomerSoonerSchoonerCrooner  
  • Its Gonna Getcha
    Posted on November 21, 2010 at 4:18pm

    This is my attention span today. When I see the word Buffett, I instantly think of going to the China Buffet. When I see the word “trickle”, I think about starting a tickle fight.

    Have a good day everybody!

    Report Post » Its Gonna Getcha  
  • davecoolworld
    Posted on November 21, 2010 at 4:14pm

    Rather than give an interview about policy, he should be giving an interview stating that he just gave the US government a check for 1 billion. Then we will know his sincerity.

    Report Post » davecoolworld  
    • starman70
      Posted on November 21, 2010 at 6:11pm

      Hell, he could give more than a billion. Come on Warren, set the example for Gates, Forbes, the Rockefellers, the Kennedys, Georgieboy Soros, Michael Moore and all the other billionaires. Between them all, they could really make a dent in the National Debt, and it would be deductable, that is if the Alternative Minimum Tax didn’t get them.

      Report Post »  
    • EP46
      Posted on November 22, 2010 at 10:26am

      Great dave………guys like Buffett have lobbyist who work with politicians to make regulations that benefit the rich so they can earn more $$$ like from commie G.E. There is a method in place that Buffett or any other citizen can give money to the government to pay toward the debt. Since they earn it by ‘hook or crook’ I think it would be great if they made a donation to help pay down the debt. If they don’t, the gov is gonna take it….better to pay down our debt than let potus give it to some foreign country .

      Report Post »  
  • Cuthalu
    Posted on November 21, 2010 at 4:13pm

    As far as I am aware, he can only speak for himself about who he wants to give his money to. Also, nothing is stopping him or anyone else from giving the IRS or Federal government as much as his money as he wants that is past what he would owe in taxes.

    Why doesn’t anyone call out people like this who tries to convince us everyone else needs to give up their wealth, but never steps up to give away all of their own money first?

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    • tifosa
      Posted on November 21, 2010 at 5:57pm

      Under the proposed plan EVERYBODY would get a tax cut. Only the amount above $250k would be taxed at the 4%ish rate returning to the pre-cut level. What could possibly be the complaint about decoupling the cuts and passing at least THAT much. Disgusting that this wasn’t passed before their recess.

      Report Post » tifosa  
  • cheezwhiz
    Posted on November 21, 2010 at 4:06pm

    “But I think that people at the high end — people like myself — should be paying a lot more in taxes.
    ——————————
    So who is stopping you ?
    If thats what you want to do, why don’t you write a check of extra 1 mil dollars every year to the IRS ?
    If your wealth makes you feel guilty and uneasy, give it to IRS . They’d be happy to absorb that .
    Maybe you can make your buddies join you too.
    No one is stopping ANYONE from paying money they don’t want to the IRS or government.

    Report Post » cheezwhiz  
    • abc
      Posted on November 21, 2010 at 4:21pm

      Same stupid argument. Make taxes optional.

      Buffett is exploding the Republican myth that the rich are overtaxed and the economy would boom if their taxes are lowered. You cannot see that your party’s argument is a lie and he is exploding it. So you proffer an even dumber argument: make taxes to close the deficit optional. You vote out the Dems because you are supposedly concerned abuot the deficit, but then when the smartest man in America tells you that to close the deficit you need to raise taxes on the rich, then you say what we need are optional taxes to close the gap. Stupid. Stupid. Stupid.

       
    • cheezwhiz
      Posted on November 21, 2010 at 4:43pm

      @ abc

      Its not the first time Buffet has expressed these sentiments .
      He sounds like someone who can afford to be a jerk at this point of his age and wealth.
      He is clearly uneasy about his wealth and there must be many many rich people like him.
      Instead of griping about the American laws and American people and how unjust they are towards poor people,
      Buffet should just give his money to the government , who he thinks deserves it the most.
      BTW, when Buffet had to decide who to hand over his wealth after him , why did he choose Bill Gates and NOT the IRS ?
      If Buffet doesn’t want his walth, Buffet doesn’t have to keep it. He has no reason to force others to do what he wants them to do, without doing it himself.

      Report Post » cheezwhiz  
    • abc
      Posted on November 21, 2010 at 5:15pm

      Cheeze, I‘m glad you are blessed with the unique ability to read Buffett’s mind and tell us what his real motivations are. I assume that you are also a billionaire, since your ability to read him mind would mean that you replicated his portfolio to great financial benefit.

      But seriously, there is nothing wrong about demanding that taxes be raised to address the structural deficit. Taxes are at 80 year lows and are below where they can be even if all the excess waste is cut from the budget. Even Ryan, the supposed brains of the GOP on budget matters cannot find more than 10% reductions in the deficit through spending cuts. The rest must come through tax hikes. You and no other conservative can prove that statement wrong, so the debate over Buffett is beside the point. You are right, he has been saying that taxes need to be raised to address the deficit, and he’s been right about that for a long time. But go ahead, and ignore the facts. It is more fun to speculate idly on his motives. That is very productive and honest of you…

      Report Post »  
    • lacabeza
      Posted on November 21, 2010 at 5:51pm

      Most Commies just don’t get it. Even Charlie exposed the truth. California and other states found out what happens when your policy relies heavily on the wealthy for revenue. When there is a recession and the wealthy lose money the state loses all its income and goes bankrupt.

      Warren should start and fund charities. The government will squander the money anyway.

      Charlie Gibson during Dem debate:
      “GIBSON: And in each instance, when the rate dropped, revenues from the tax increased; the government took in more money. And in the 1980s, when the tax was increased to 28 percent, the revenues went down.

      So why raise it at all, especially given the fact that 100 million people in this country own stock and would be affected?

      OBAMA: Well, Charlie, what I’ve said is that I would look at raising the capital gains tax for purposes of fairness.

      http://abcnews.go.com/Politics/DemocraticDebate/story?id=4670271&page=3

      Report Post » lacabeza  
    • american1st
      Posted on November 21, 2010 at 5:56pm

      @abc paying additional tax already is optional! nobody said all taxes should be…
      did you even read the posts you reply to?
      if buffet thinks he government can spend his money better than he can he can give them as much extra as he wants…. i doubt most billionaires feel that way

      Report Post » american1st  
    • cheezwhiz
      Posted on November 21, 2010 at 5:57pm

      @ abc

      Buffet has been ranting about taxes and tax rates ever since he started popping Obama for POTUS . He has complained about his secretary paying more taxes out of her paycheck and how he resents that.
      What Buffet doesn’t say is that how he himself and his BH Corp take tax-exemptions for every reason possible , on their returns ( travel expenses, charity etc.). He has an option to NOT do so , and NOT take those exemptions.
      He has a choice to give millions in charity and NOT take exemptions for them.
      He has a choice of NOT stashing money overseas and paying his share of taxes on them too.
      BUT HE CHOOSES NOT TO.
      He can form a group of richie rich billionaires and write off over their collective wealth to IRS and live of a salary of $ 50,000 a year. They can make a choice and lead by example. But they choose not to. He is just another wannabe spooky dooode who is helping Hussain when he is down .

      As for the deficits , we can start by putting ALL the expenses on the table. Not just the 3rd rail issues like SS and medicare but EVERYTHING , including welfare, foodstamps and freebies for illegals.
      Let the federal government open its books , we will do the audit.

      Report Post » cheezwhiz  
  • snowleopard3200 {mix art}
    Posted on November 21, 2010 at 4:04pm

    If he believes in taxing the ‘rich’ like himself, then let him prove it by turning al of his money over to the feds and become a member of the middle or lower class economic level. Guess he would never do so huh?

    http://www.artinphoenix.com/gallery/grimm

    Report Post » Snowleopard {gallery of cat folks}  
    • abc
      Posted on November 21, 2010 at 4:19pm

      If you believed fighting the Iraq War was a good idea, why don’t you get to the front line and blow yourself up to kill the Iraqi insurgents…

      This is the same logic you use. And it is totaly stupid. You set tax policy such that you can balance the budget without relying on charity from billionaires or voluntary payments. Only a fool would make the kind of argument I led with or you offered above.

       
    • davecoolworld
      Posted on November 21, 2010 at 4:35pm

      ABC…go to the front line and blow yourself up? That statement is beyond rediculous. It also shows that you only operate in the extreme. How about go to the front line and shoot straight? Go to the front line and blow yourself up? A tell that exemplifies who you are. Yes, just a couple of words can explain someone, even to their core. Your core…garbage.

      Report Post » davecoolworld  
    • abc
      Posted on November 21, 2010 at 5:12pm

      Dave, you are clearly not very bright. My point is not to condone blowing yourself up. My point is that calling for the rich to voluntarily pay higher taxes as a budget fix is as stupid as saying that we shouldn’t run a rational war in Iraq but should ask those citizens that want to fight that war to go do it themselves however they can. That you don’t understand this, and that you are willing to assume way too much on the basis of little info, clearly shows that you are not very skilled at using your brain. The fact is that this argument being made repeatedly here, that if you don’t think taxes are high enough means that you should voluntarily pay more, is just stupid. Here’s another example, those that were outraged at Rumsfeld for saying that you go with the army you have not the one you want, although there clearly were funds availble to better equip Humvees against IEDs, then you should have mailed the money to the Pentagon rather than calling out Rumsfeld. I would have similarly called that argument stupid and renewed calls for Rumsfeld to resign. There. Two analogies. If you cannot get it. It must be due to your challenged intellect.

      Responsible tax policy and budgetary policy requires balancing taxes and spending. Republicans are as bad as Democrats at closing the gap, but the GOP is much more silly in the arguments that they use to defend their false and faulty positions.

      Report Post »  
    • Exrepublisheep
      Posted on November 21, 2010 at 5:12pm

      ABC was on to something. Buffet is trying to change a system, not be the only “tester’. ABC may not have presented himself perfectly but calling someone garbage when you know darn well what he was trying to say, is well, you know. And listen to the video. Why SHOULD my taxes as a middle-class taxpayer support a system that certainly benefits the rich more than ayone else? GAS137 sees lots of luxury cars going around. Not in my area. Those who gain the most SHOULD, in fairness, pay the most.

      Report Post » Exrepublisheep  
    • DonoRomantico
      Posted on November 21, 2010 at 5:14pm

      @ ABC : You just exposed yourself.

      Report Post »  
    • booger71
      Posted on November 21, 2010 at 6:05pm

      “Same stupid argument. Make taxes optional.”

      He is not making that argument nitwit, he is saying any taxpayer can pay more than they owe

      Report Post » booger71  
    • what4
      Posted on November 21, 2010 at 7:24pm

      ABC = A Bitter Communist……

      Report Post »  
    • davecoolworld
      Posted on November 21, 2010 at 10:57pm

      Exrepublisheep…no offense to you but, how can you say ABC did not present himself perfectly? He/she/it uses 500 words on multiple posts and still can’t express himself perfectly. Obviously, ABC is educated and writes well. The underlying theme is clear. Obama makes the same claim for himself, that he hasn’t presented himself properly. Obama talks incessantly and yet he uses the same defense you afforded to ABC. I think you are a bit obtuse.

      Report Post » davecoolworld  
    • davecoolworld
      Posted on November 21, 2010 at 11:24pm

      ABC…finally after all those wasted words you have made a logical point. The GOP and the DNC are responsible for the mess. Do not think for a moment I am loyal to the GOP. You are smart enough to already have figured out that I am far from a DNC supporter. I am a Constitutionalist and will do my duty to defend it against all enemies foreign and domestic. The United States Constitution is 234 years old and is more important than you, me, Obama or anyone else. Go back and read about the men who drafted that document. As far as my intellect, I already “know” you. You have been easy to figure out. All of your pontification, all those wasted words, your boring musings.You’ve already told us who you are.

      Report Post » davecoolworld  
    • wildbluyonder11
      Posted on November 23, 2010 at 7:06am

      @ABC, while you like to seem like you’re making intelligent arguments with your “voluntary tax paying” schtick, I believe you’re missing the REAL point. You say that you set national tax policy by setting taxes “at a level to cover existing and future targeted spending”. See, the main problem there is that our government does not know how to stop spending. In addition, our country is one of the least business friendly places in this world, mainly due to our tax policy, but their are many other contributing factors that I won’t go into (EPA, Unions, etc.), and yet they want to tax some more. Pretty soon, you’ll be working a 40 hour week, and bringing home 10 hours worth of pay, it’s just ridiculous.
      One other thing I thought was interesting about Mr. Buffett’s comments was that he thought tax rates for the lower end and ever middle or upper middle should be lower. Well, being in the upper middle myself, I think that would be nice. However, those in the middle to lower income levels can’t really get much lower. With all of the tax credits out there already, they don’t actually pay any taxes, at last check 47 percent of American workers don’t pay any taxes. In fact, most of them are stealing from the system. I remember a time, not so long ago, when I qualified for the earned income credit. That year, I paid, out of my paycheck, a total of $197 in federal taxes. That year, I received a “refund” of more than $5000. A “refund”! I thought a refund was when you paid an amount and you received back a small portion of that amount, maybe it’s changed, I’ll check my dictionary. Anyhow, legally, because of our screwed up tax code, I stole $4,803 from some other tax payer(s). But, you know what, I took that money and spent it and was happy to do it. Just like our government is happy to take all of the taxes the American people will allow them to take and happily (albeit wastefully and ignorantly) spend all of it and more.
      So, if Mr. Buffett would like to give more of his money to the government, by all means, the IRS is probably, at this very moment, setting up a special account with his name on it.

      Report Post »  
  • APatriotFirst
    Posted on November 21, 2010 at 4:03pm

    Buffett may be right for a Dem.

    Trivia time…….
    How many presidents were there before George Washington?

    Answer to come further down

    Report Post »  
    • APatriotFirst
      Posted on November 21, 2010 at 4:08pm

      But one must remember who Buffett supported for prez ……yep, you got it…..Obamacakes

      Report Post »  
    • davecoolworld
      Posted on November 21, 2010 at 4:15pm

      Was there 3 before Washington?

      Report Post » davecoolworld  
    • constitutionparty
      Posted on November 21, 2010 at 4:17pm

      @ apatriot first

      There were 10 presidents of the United States before George Washington, He is considered the first President only because he was the first under the current Constitution. There were 6 other President’s of the Continental Congress before those 10. Adding both of these there were 16 Presidents.

      Report Post »  
    • APatriotFirst
      Posted on November 21, 2010 at 4:20pm

      @davecoolworld
      Sorry but 3 is wrong.

      Report Post »  
    • APatriotFirst
      Posted on November 21, 2010 at 4:27pm

      @constitutionparty
      You are correct. Well done.

      Report Post »  
    • booger71
      Posted on November 21, 2010 at 6:03pm

      “Those who gain the most SHOULD, in fairness, pay the most.”

      Not according to the Constitution.

      Report Post » booger71  
    • MrButcher
      Posted on November 21, 2010 at 8:51pm

      nope, wrong!

      there were 14 in the Conferderation Congress.

      http://www.freerepublic.com/focus/news/582763/posts

      Report Post » MrButcher  
  • IronDioPriest
    Posted on November 21, 2010 at 4:02pm

    Why not go ahead, Warren? Nobody is stopping you from liquidation whatever percentage of your assets you choose and rendering them unto the Treasury Department.

    Why don’t you lead by example? Hmmm?

    Report Post » IronDioPriest  
    • TruthTalker
      Posted on November 21, 2010 at 4:07pm

      Excellent question, but interviewers in todays media never ask it.

      Report Post »  
    • BubbaCoop
      Posted on November 21, 2010 at 4:10pm

      Excellent point

      http://www.businessinsider.com/holy-cow-the-treasury-is-taking-online-donations-to-pay-down-the-debt-2010-4

      Report Post »  
    • joseph Fawcett
      Posted on November 21, 2010 at 4:16pm

      I agree with you, —-Warren do go ahead pay more, reduce the national debt, no one is stopping you. I think that is a better plan than rasing any takes on anyone, you just go ahead and pay down the national debt for us and call it a rescue tax for the US.

      http://www.josephfawcettart.com western artist

      Report Post » joseph Fawcett  
    • abc
      Posted on November 21, 2010 at 4:17pm

      This foolish canard of an argument, that keeps popping up, is tiresome. You do not set budgetary policy such that you are relying upon voluntary payments to cover our budget shortfalls. You set tax policy at a level to cover the existing or targeted level of spending. Buffett is saying that taxes should be raised to cover that spending. He also explodes the lie of Laffer and others that tax cuts always pay for themselves, the idea behind trickle down economics. He knows the data and the terrible track record of tax cuts paying for themselves. That is why he says what he does. And, happily, Buffett has an impeccable reputation for being right much more often than he is wrong. He forecast the latest financial crisis four years ahead of time, while Laffer and other conservative supply-sider know-nothings were blindsided by that crisis. THere is no question who is right and who is wrong. Seeing this, conservatives make up totally stupid arguments about how taxes should be voluntary. This is beyond stupid. Either you advocate rational policies or you keep quiet. Else, you are simply making noise.

       
    • constitutionparty
      Posted on November 21, 2010 at 4:21pm

      When he was first starting out many years ago he would have argued against higher taxes. Let’s face it, now it does not matter to him because he has more money than he could spend ever. I also believe that he is doing this as a favor to Obama. he will get paid back many times over with special deals.

      Report Post »  
    • tobywil2
      Posted on November 21, 2010 at 4:36pm

      Sure Warren Buffett is in favor of increased income tax on the entrepreneur. Warren Buffett is part of the “status quo”. He’s made his money and just wants to keep it. He doesn’t want any competition from an entrepreneur with new technology that can destroy his empire and increase the prosperity of the nation. If you want to see him squirm propose a net worth tax, you could even start the net worth tax at $1 million. Even that would be a hindrance to the entrepreneur but it would eliminate the billionaires who use their fortune and to buy government intervention into the marketplace and maintain the “status quo”.
      Of course I don’t propose a net worth tax, but it makes a lot more sense than an income tax. With a net worth tax the tyrants could really punish the “rich” but their financial support would disappear and they would be vilified before they even finished the proposal.

      http://commonsense21c.com/

      Report Post » tobywil2  
    • Fear The Voices
      Posted on November 21, 2010 at 4:39pm

      When we’re all as wealthy as you Mr. Buffet, we’ll be able to say the same, but we’re not all that wealthy, are we?
      It’s people like him that should just shut their hole! Nobody stops him from paying more, but for the average people who are going to fall into the “wealthy” bracket, it will be enough to prevent them from investing, or adding employees. Mr. Buffet doesn’t have to worry about running a small business, and trying to keep his employees working while demand remains depressed. He doesn’t have to worry about paying increasing taxes, utilities, food bills, or medical expenses; so unless this moron wants to subsidize the tax-paying Americans who are supporting the illegals and lazy of this country, he needs to shut up!

      Report Post » Fear The Voices  
    • IronDioPriest
      Posted on November 21, 2010 at 4:40pm

      ABC, the foolish canard of an argument is yours.

      Warren Buffet is arguing that tax policy is too lenient on the super wealthy. He is just about as super wealthy as they come, no? DC doesn’t seem to have the political will or mandate to do what he suggests, correct? They cannot act on his suggestion under the current political and economic circumstances. If they could, they would have done so with their super-majority before the election. But they did not.

      So what is a mega-rich statist to do? He leads by example in other areas of his life, living modestly, etc. For some odd reason, he believes that he should live in a small rambler and pretend like he has little wealth, but government should engorge itself on the wealth he’s produced. Not only that, but he believes government should engorge itself on the wealth of his peers, and that they should be forced to live more like he chooses to live.

      To be sure, Warren Buffet does not possess the wealth to make anything more than a modest and barely noticeable dent in the debt or deficit, given the fiscal malfeasance of the DemComms. But actions speak louder than words, and Buffet is certainly one who is watched for both his actions and his words.

      How many people are super wealthy like Warren Buffet? He seems perfectly willing to opine on what he believes his wealth-class should be forced to pay into the bloated government coffers. This indicates that he believes government is under-funded, and requires more money. He should be willing to put his money where his mouth is, and lead a movement amongst America’s billionaires and multi-millionaires.

      Once Warren Buffet renders unto “Caesar” what he believes belongs to Caesar, then he may have some credibility. Until then, he’s merely guilty of using his massive wealth as a tool of class warfare.

      Report Post » IronDioPriest  
    • HoaxNChains
      Posted on November 21, 2010 at 4:43pm

      Anybody notice the state of Washington resoundingly defeated a ballot initiative to raise taxes on millionaires in November’s election? Even the liberals of that state don’t believe in wealth re-distribution. Since this initiative is the brainchild of Bill Gates and his father, and since they both love Buffet why don’t they just donate all of their billions to all of us poor people instead of telling everyone else what to do. Nothing better than the power of example. Who knows, maybe even Oprah would join in. Somehow i don’t think so unless she could get someone else to donate for her. Ever notice she never gives away her own money, she always gets a sponsor or company to give it up for her. Let‘s get rid of all these high and might sanctimonious phony’s come 2012.

      Report Post »  
    • John 1776
      Posted on November 21, 2010 at 4:57pm

      Like everyone else, it is ok to “contribute” to the IRS! Go ahead Warren, but don‘t tell them to take everyone else’s money, it belongs to them, not you!

      How many time have we seen this in the past, when you lower taxes, tax revenue actually goes up! We are not talking about CUTTING anybody’s taxes. This is a tax raise, nothing else. It does not contribute to the deficit, as that comes from spending, not taxing.

      Report Post » John 1776  
    • HKS
      Posted on November 21, 2010 at 5:00pm

      This tactic is a game. Rich people don’t pay taxes. The rich he is referring to is you, if you pay taxes at all you are considered rich by his standards. The rich as the average people refer to it, like him, pay no taxes. Everything is shielded with loop holes and tax credits. Did you notice Bill Gates wanted a state income tax in Washington, campaigned for it. He knew it did not include him. But it was sure going to bust your chops. Bill Gates, Warren Buffet, George Soros, they don’t pay taxes. In fact they get grants from the government through their tax exempt organizations.

      Report Post » HKS  
    • abc
      Posted on November 21, 2010 at 5:07pm

      IronDioPriest, the Dems have been trying to pass middle income tax cuts, which all agree would help to stimulate the economy, but the GOP is holding them up and have been for a while. The Dems do not have a fillibuster proof majority, so your supermajority comment is bogus since Brown won in MA. And in any case, politicians on both sides do what their rich special interests tell them to do. Buffett is independent and is giving the honest answer, which is also economically correct. It is sad that you and others here support the false arguments of the GOP, out of love of party over country, rather than being honest as Buffett is. And, as your phony arguments about the Dems’ inaction despite a supermajority highlight, you are part of this problem as well.

       
    • Psychosis
      Posted on November 21, 2010 at 5:18pm

      @ ABC……….you again show your ignorance. the government does not have an income problem, but a spending problem. and one more point, 250thous. does not make one rich. class warfare is idiocracy at is best. the gop does not and is not holding up extending the same rates to middleclass, but instead are refusing to hold anyone hostage to one specific class. gop is standing firm on keeping the rates the same as they are for everybody, and the poor old government is just going to have to live within its means. booo freakin hoo .

      Report Post » Psychosis  
    • lillymckim
      Posted on November 21, 2010 at 5:31pm

      this coming from a guy who let his own Granddaughter clean other peoples toilets rather then help her with her college tuition… another loon with way too much time on his hands

      Report Post » lillymckim  
    • CatB
      Posted on November 21, 2010 at 5:39pm

      I totally agree — I am sick of these holier than thou liberal billionaires thinking that people who make more than an average should be paying more…. you first buddy .. sign over your wealth to the goverrnment to squander on their little projects. Thing is these guys have theirs and certainly don’t want anyone else to get ahead.

      Report Post »  
    • 2
      Posted on November 21, 2010 at 5:42pm

      Hey FatAzz, Why don’t you give up all your money TODAY not when your dead and go live with some LIB-TERDS. They will love your goofy Azz. Well, maybe not with not money you fricking moron.

      STOP EATING STEAK! YOUR KILLING MORE CORN WHEN YOU DO THAT!

      Report Post »  
    • grandmaof5
      Posted on November 21, 2010 at 5:47pm

      I am guessing that Buffett and Jon Huntsman aren’t close personal friends. Huntsman obviously has better taste and tends to mind his own business. As they say “don’t tell me, show me”, but I won’t hold my breath.

      Report Post »  
    • booger71
      Posted on November 21, 2010 at 6:00pm

      “The Dems do not have a fillibuster proof majority, ”

      They sure as hell did on Jan 20, 2009 when Barry was inaugurated.

      Report Post » booger71  
    • APatriotFirst
      Posted on November 21, 2010 at 6:02pm

      @abc
      The Dems trying to pass tax cuts?? Must be the Repubs fault ?
      THE DEMS HAVE BEEN IN CHARGE FOR HOW LONG???????? House and Senate. Wonder why they didn’t do tax laws to *help* middle class?

      Report Post »  
    • toddrobbins
      Posted on November 21, 2010 at 6:08pm

      It’s not hard too do a little research and see that, in inflation adjusted figures, the most money the United States Government has ever collected via taxes was in 2005. The next year, 2006, was second. That fact alone is enough to prove that these tax cuts have paid for themselves. To argue that the Bush tax cuts are the cause of this economic period in the face of the aforementioned information is to completely ignore the true causes of the recession, chiefly the overregulation of the mortgage industry with an assist by the misregulaton of commodities trading and no clear policy to lesen our national dependence on foreign oil.

      Report Post »  
    • A Doctors Labor Is Not My Right
      Posted on November 21, 2010 at 6:11pm

      Forget about whether trickle down is true, for a moment. ITS NOT YOUR MONEY, and that’s the only thing that need concern you. Constitutionally, the American Federal government exists to do very little besides protecting our national sovereignty and enforcing contracts that those who have chosen to do commerce with each other have made between themselves, and then only those contracts between those of different states, between us and other countries, and between Native [U.S.] American tribesmen and those who are not such a tribesman.

      The Commerce Clause has nothing to do with the redistribution of wealth – “regulation” in a free market paradigm means “facilitation” – not “control”. Otherwise – and this has been said over and over – the government can tax any or zero activity, which would be the opposite of having certain unalienable rights.

      Report Post »  
    • Okie from Muskogee
      Posted on November 21, 2010 at 6:39pm

      I think we should petition Warren to liquidate half his wealth and donate to the U.S..I believe firmly the U.S. should treat everyone fair, equal, or as one not discriminate according to amount of money one has…Warren Buffet believes he should give more so we should make him do what he says…..Make him put his money where his mouth is…It‘s easy for one to talk let’s see if he will walk the talk…
      Come on Blaze.com call Warren out and see if he can stand in truth and donate half his wealth!!! Do it!!!!

      Report Post » Okie from Muskogee  
    • ConservativePatriot
      Posted on November 21, 2010 at 6:42pm

      @ABC It is NOT a cannard. Anyone who feels they are undertaxed is more than welcome to write a check to the US Treasury to help pay off the debt. That has NOT A DAMNED THING to do with establishing monetary policy or budgetary policy. That is set by a socialist who knows nothing but SPEND SPEND SPEND. Buffet fails to mention that, because like Obama, Buffet is a big liberal. Your argument is fallacious and intellectually dishonest on it’s face.

      Report Post »  
    • HKS
      Posted on November 21, 2010 at 6:47pm

      Hey wb in the interest of helping the country, I’ll calculate my net worth and kick in ten percent right now if you will do the same. I‘ll bet by the time your accounts and lawyers get it figured out I’ll be worth more than you are and I’m poor. That’s how you got where you are. Remembering where you made your money, insurance. I’ll bet you left a lot of bodies behind.

      Report Post » HKS  
    • Okie from Muskogee
      Posted on November 21, 2010 at 6:48pm

      Yo ABC quick question for ya?
      What is the difference between taxing a person by wealth status and taxing one based on age, gender, and race? Nothing is the answer. Thus taxes on income comes from the Progressive Incoome Tax Amendment. Progressives are the most divisive group that exists…United We Stand, Divided We Fall…Taxing us as different groups divides us does it not?

      Report Post » Okie from Muskogee  
    • DanB
      Posted on November 21, 2010 at 7:05pm

      I read a bunch of these posts and I think many of us are missing a piece of the puzzle.

      The US tax code is written to punish people for the way the earn their money. Odds are very good that someone like Warren Buffet would still be wealthy and see very little in new taxes and he knows it. What he won’t tell you is that increasing the tax rate will continue to separate you from threatening his prestige even further. I have known this for a few years know, although it was a secret that not even I knew for my whole life. Unfortunately, I am dirt poor so I struggle to get over the hump from making money traditionally (taxed the highest) to making money in a whole new paradigm. The paradigm shift isn’t easy. We are so ingrained into thinking a certain way. Why do you think it is so easy to dupe us into believing that raising taxes on the rich is about creating equality? Because it is easy to believe it. We haven’t been taught to see beyond our realities.

      So why do I see beyond my “reality?” Books I read. Talks I listened to. Advice from those that have broken through the barrier is out there for those of us willing to see, hear, and listen.

      We think of the rich as evil. If they are making big money, they must be overpaid? Some are. But here’s a little math. If it will take three people to do the job that one man does, is it cheaper for the company to hire three people or retain the one? My dad retired in his 40s. He was paid good money. Many would have called him an evil rich guy based on common logic that we are ingrained with. But look at it from the company’s perspective? If you were running the company what choice would you make? As it happened, they did offer my dad good money to stay but he chose to retire because it was a lot of work and his health was suffering. And, yes, they did hire three VPs to replace him. What would have been cheaper for the company? Some of those “evil, rich dudes” are well worth the money they are paid. Of course, not all are. That is why I am truly upset with the government bailouts. Because it changed the paradigm. If the companies had been let to fail, how many companies would have started dumping the “evil, rich dudes” who truly were not worth their pay? Or that were taking their company into ruin? There was no market correction to push corruption out of the higher reaches of the economy. In fact, I wouldn’t be surprised if Warren Buffet would continue to get richer even as the rest of America was pushed into economic ruins from higher taxes. As I said, the tax code is designed to punish one way of making money and reward another, and it shouldn’t take a genius to figure out which side of that equation you will find the Warren Buffets of America.

      Report Post »  
    • ron the veteran
      Posted on November 21, 2010 at 7:20pm

      hes so ready to take others money for taxes how much over what mr buffet owes in taxes is he paying? im betting hes got a whole team of lawyers and tax accountants to keep him from paying any taxes. its always the ******** who think they got a right to other peoples money. we used to call that theft. after all thats what it is. senator kerry aire to the hinzs catsup fortune ******* that he is is rich enough to pay his taxes and didnt. he tried hiding his boat in roade island to keep from paying. this is typical of all the ******** tax those rich republicans so they can give it away to their friends who dont pay taxes. i hope the rest of you are as tired of this as i am. i think its time to put some polititians in jail over this econemy. we all know who did this this whole mess and what caused it. this was done by the dems who were yelling about the econemy long before it fell apart. they knew what they were doing. its time to lock the guilty ones up. this crap that polititians are exempt from being sewed or charged with acts of treason and violating their oath of office. we must demand they all be jailed for this.

      Report Post »  
    • IronDioPriest
      Posted on November 21, 2010 at 7:26pm

      ABC Sez:
      “IronDioPriest, the Dems have been trying to pass middle income tax cuts, which all agree would help to stimulate the economy, but the GOP is holding them up and have been for a while. The Dems do not have a fillibuster proof majority, so your supermajority comment is bogus since Brown won in MA….”
      -When Barack Hussein Obama took office, the Democrats had an overwhelming majority in the House and a filibuster-proof majority in the Senate. If “Middle-class” tax cuts were their true goal, it would have been done then. Instead, they kowtowed to their extreme Leftist base, and kept class-warfare via demagoguery of taxation as an issue for the DemComm party.

      And while we’re at it, I refuse to adopt the language of the Left when I discuss this issue. We’re not talking about “cutting” the taxes of anyone, middle-class, rich, or otherwise. We’re talking about whether the Democrats raise the tax rates on everyone, or whether the Republicans should allow them to raise taxes on those who earn over $250K.

      I got news for ya pal. Warren Buffet and people of the upper-middle-class who earn $250K are NOT playing in the same ball game. When someone like Buffet says that “the rich” should pay more taxes, and then Obama and the DemComms say that the “rich” make over $250K, what we’re really talking about is a tax rate hike on nearly everyone who pays a meaningful contribution in taxes, further increasing the gulf between those who fund the government and those who have no skin in the game.

      Everybody on the Left wants to talk about tax-cuts, when the reality is, we’re talking about tax hikes. You are disingenuous from the moment you open your mealy mouth.

      Report Post » IronDioPriest  
    • VABuckeye
      Posted on November 21, 2010 at 7:43pm

      The dirty secret about Buffett is that he doesn’t pay personal income tax. He generates his personal income from his investments and pays 15% long-term capital gains tax. The guy is a heck of an investor, but he speaks out of both sides of his mouth when he says the wealthy should be paying more taxes.

      Report Post » VABuckeye  
    • tower7femacamp
      Posted on November 21, 2010 at 7:51pm

      yes let’s be real here anyone worth more than 5 million should have the
      their ass taxed at %80 of any wealth they have or own over 5 million.
      everyone under 30 k a yr with 1 dependent should be exempt for income tax.

      Report Post » tower7femacamp  
    • Pnxgld
      Posted on November 21, 2010 at 8:17pm

      There are multiple problems with raising taxes on anyone at this point! You have to have a leaders who would; restrain entitlement costs, make cuts, & make sure the increase was temporary & locked into debt reduction. It is less cost efficient for our county to increase taxes on buisneses & people that employ than to actually charge someone like myself some tax even in the short run let alone long term.

      Report Post » Pnxgld  
    • ascoolone
      Posted on November 21, 2010 at 8:33pm

      Warren just read the last lines of the Declaration of Independence.

      Need I say more.

      Report Post » ascoolone  
    • jdgadsden
      Posted on November 21, 2010 at 9:17pm

      ABC, you sir are a moron.

      first, the argument is not to make policy based on voluntary tax contributions. the argument is that if Buffet and other super-rich billionaire Democrats believes they are not paying enough, they can lead by example, by selling their possessions and giving their wealth to the state. that they do not is proof that Buffet et. al believe they can better use their money than the government. (which is the Tea Party’s belief as well)

      Laffer is not a lie, you just burn a strawman. Laffer never argued that tax cuts always raise revenue, just that at a certain percentage point it can do so. if the tax rate is 0% the revenue is $0, but so is it if the tax rate at 100%. somewhere in the middle (probably lower than we expect) there is a happy medium, where higher taxes serve no purpose other than to punish non-Democrats (that is, anyone who is not politically connected enough)

      Report Post »  
    • edubble21
      Posted on November 21, 2010 at 9:45pm

      Amen!

      Report Post »  
    • SunnyJ
      Posted on November 21, 2010 at 9:45pm

      The counter to his comment should always be, “You first”.

      Report Post »  
    • Shaman091101
      Posted on November 21, 2010 at 10:08pm

      Great Suggestion, Go Ahead Warren pay the treasury all you want. BTW while you are at it put some more people to work.

      Report Post » Shaman091101  
    • blazingglory
      Posted on November 21, 2010 at 10:08pm

      If we were all ‘Billionaires’, and if we were all making millions each year, if only!!!! The spending and size of government would still be to big. Cut spending and let churches and local non profits help our communities. I tithe more than our church asks because our church does a better job of helping and spending my money than our government ever could!!!

      Report Post »  
    • jds7171
      Posted on November 21, 2010 at 10:48pm

      It is true that they can have there taxes raised and not even notice it. It’s a matter of principle. Once the government starts having acces in your pockets, they never stop. We had a income tax only in times of war. Now they are talking about a consumption tax. An added 15-20 percent (we hope its that low) tax increase. They should start donating more of there money. Or send kids to school. Or flush it down the toilet. Flushing it down the toilet is the same as giving it to the government.

      Report Post »  
    • jds7171
      Posted on November 21, 2010 at 10:52pm

      Also tax cuts are not the only thing to boost the economy. YOu can charge no taxes, but if a company has to go through 3 years of courts just to build a building they are not going invest in this country. This country needs both tax cuts and deregulation. Not getting rid of all regulation, but the useless regulations.

      Report Post »  
    • shane2813
      Posted on November 21, 2010 at 11:20pm

      Well how about if WE THE PEOPLE tell Mr. Buffet how much he should pay.

      Report Post »  
    • OneFunR6
      Posted on November 21, 2010 at 11:46pm

      Simple, tax Buffet, Gates, and Soros at 99.99% of THEIR incomes…..

      GhostOfJefferson
      Posted on November 21, 2010 at 8:01pm
      “At this point, 2010, we’re blameless, we’ve done what we could short of shooting the bastards.”

      Now,… there’s an idea! You bring the guns and I’ll bring the ammo………..

      Now,… there’s an idea! You bring the guns and I’ll bring the ammo………..

      but, seriously lets all do the math….

      1. Tax ALL US billionaires at 100% of current assets = several billion U$D….. 1 time deal!
      2. Tax ALL US citizens CURRENTLY NOT PAYING ANY TAXES, about 47% of ALL taxpayers!!!!
      Say 75 million people, at a minimum of $1,000 U$D = $75,000,000,000 EVERY YEAR!!!!!!!

      3. OR……. We could CUT SPENDING! SEE? NOTHING IS EVER FOR “FREE”……..

      “Free” health care my a$$, YOU go to TWELVE YEARS of Med school and then work for minimum wages…….

      Doctors WILL quit, trust me I know,….. they’ve told me so…

      Report Post » OneFunR6  
    • bmwrider
      Posted on November 21, 2010 at 11:48pm

      Why don’t you ignorant conservative psychopaths explain how you spent your OBAMA tax cuts?
      $116 billion: New payroll tax credit of $400 per worker and $800 per couple in 2009 and 2010. Phaseout begins at $75,000 for individuals and $150,000 for joint filers
      $15 billion: Expansion of child tax credit: A $1,000 credit to more families (even those that do not make enough money to pay income taxes).
      $6.6 billion: Homebuyer credit: $8,000 refundable credit for all homes bought between 1/1/2009 and 12/1/2009 and repayment provision repealed for homes purchased in 2009 and held more than three years. This only applies to first-time homebuyers

      ETC, ETC.

      Did you buy gold? How about “food insurance”? Wise investment, losers.

      Report Post » bmwrider  
    • bmwrider
      Posted on November 21, 2010 at 11:55pm

      And for all of you contards calling for voluntary taxes, I’m sure your know much more about fiscal policy than one of the richest men in the world.

      Report Post » bmwrider  
    • A Doctors Labor Is Not My Right
      Posted on November 22, 2010 at 12:00am

      @JDS7171

      You don’t need regulation when you have a working court system. “Innocent until proven guilty” means you don’t have to suffer economically until you are proven guilty in a court of law.

      So, if every time someone gets hurt because of a company (must be proven in court), the specific people responsible pay restitution to the specific people wronged (None of this getting restitution from the government, that’s nebulous – WHO is responsible? Certainly not the whole government or the entire lot of taxpayers), then people will regulate themselves such that they don’t suffer economically.

      Regulations eat the private sector.

      Report Post »  
    • 1TrueOne55
      Posted on November 22, 2010 at 12:06am

      A better way is to go for a flat tax that gets everybody, the call it the “Fair Tax” now. Where you do away with FICA and other taxes and pay on flat percentage rate on profits and items you buy. Go check out http://www.fairtax.org for a better explanation. The rich would pay more and the poor would pay less, but we all pay the same percentage of taxes, it was “Progressives” in the early 20th Century that created this tax system we have today and they created it to punish people that made money and favor people who made less but they screwed it up over the years by modifying into the most repressive system we have today.

      Report Post » 1TrueOne55  
    • bmwrider
      Posted on November 22, 2010 at 12:35am

      Why doesn’t he lead by example? Because he is already giving all his money to the GATES FOUNDATION. (Maybe you contards should read up first?)

      Report Post » bmwrider  
    • Okie from Muskogee
      Posted on November 22, 2010 at 1:00am

      @BMWRYDER—-Put up or shut up….If he can say he should be taxed more he should step up and do it the very second after he said, not when he dies and the Gates foundation isn’t a tax.

      Report Post » Okie from Muskogee  
    • scottenlow
      Posted on November 22, 2010 at 7:12am

      The “excises” money that the rich have is their money to spend as they please. No one has a right to demand that that money be confiscated to fund government programs no matter how altruistic or good intentioned they may be. An equal percentage for all Americans able to work and pay taxes is the only “fair” tax policy. I’ll take any suggestions on how to tax the independently wealthy or retired without taxing them twice on money they have already earned and payed taxes on.

      Just say no to class envy.

      Report Post » scott  
    • 13thgenerati0namerican
      Posted on November 22, 2010 at 8:25am

      Warren is just going to far on this one. I need to tell it like it is on this one I mean come on America wake up and smell the decaf allready. This guy is telling us how to spend our money and then behind our backs is making our money worth less and less. lets just ouster this guy, send him to St.Petersburg and see how he fares on the the Russian side of the world I mean come on people jeesh. This guy is nothing but a windbag blow hard that is killing our wildlife and making the planet a wasteland of desparity.

      Report Post » 13thgenerati0namerican  
    • flamingliberal
      Posted on November 22, 2010 at 8:26am

      He has and does. He will donate to charity 90% of his wealth upon his death, and has NO tax shelters or other extreme tax strategies to minimize the taxes he pays.
      The “Gates, Buffett Challenge” Bill Gates, Melinda Gates, and Warren Buffett are asking the nation’s billionaires to pledge to give at least half their net worth to charity, in their lifetimes or at death
      http://features.blogs.fortune.cnn.com/2010/06/16/gates-buffett-600-billion-dollar-philanthropy-challenge/

      Satisfied?

      Report Post » flamingliberal  
    • James
      Posted on November 22, 2010 at 8:30am

      People who have the kind of money he does would probably not even notice a tax increase that is why he is saying this. It is the people and businesses that make 250-500k per year that are going to suffer if their taxes get raised. I know people who are small business owners who struggle to make every dollar count, it has an impact on hiring, layoffs, benefits, expansion, and improvements.
      Increased taxes kill business and jobs, plain and simple.

      I can’t afford to pay a few thousand more in taxes, where Buffet could probably give the government $100 Mil and not feel it.

      What we need to do is reduce spending and get the lower 50% of the country to pay something.

      Report Post »  
    • IronDioPriest
      Posted on November 22, 2010 at 9:44am

      Those liberals on this thread pointing to Buffet’s charitable giving, or that of other Leftist billionaires are completely missing the point.

      Warren Buffet would self-direct his massive wealth to charity, while preaching that the rest of us be forced to turn over our income to government.

      If government is indeed the best, most righteous depository of our individual wealth whether we believe it is or not, why doesn’t Warren Buffet deposit his massive wealth in the government coffers instead of giving it to charity?

      It is because he, having the choice of where his dollars will do the most good, chooses to place those dollars elsewhere.

      So see, ********, his personal benevolence giving is utterly beside the point. Warren Buffet does not put his money where his mouth is in regards to his stance on tax policy.

      Report Post » IronDioPriest  
    • drbage
      Posted on November 22, 2010 at 10:19am

      @Grandmaof5 and others
      The biggest difference between Huntsman and Buffett is that Huntsman feels that he is best qualified to distribute his wealth as he sees fit, whereas Buffett believes that the government knows best. Whether you could get Gates, Sr or Jr to admit that or not is questionnable, but the follow-up question would be to ask why they set up their foundation, if not to be allowed to distribute their wealth as they see fit. Since the O regime wants the US to be more like Europe, what will they do when the wealthy who provide most of the fodder for the DC machine decide to take their wealth to an overshore residence and only maintain a home in the US? Many wealthy Europeans only have homes in their country of origin, but their residences are in Monaco, Lichestein, or other tax havens.Oprah, Gore, and others who have homes in CA make sure that they stay their only a certain number of days per year so it will NOT be classified as a residence, thus making them subject to CA taxes. Many companies also maintain their headquarters in Delaware or Texas for corporate tax purposes.

      Report Post »  
    • JimOhio
      Posted on November 22, 2010 at 11:34am

      ABC How interesting that you say the Laffer curve is a lie. The Laffer curve simply confirms the belief that the more you tax an activity the less of that activity you will have, thereby producing less revenue. It’s called the law of diminishing returns! Interestingly the same people who deny the Laffer curve in turn raise taxes on cigarettes and other activities considered socially undesireable in order to slow that activity.

      Report Post »  
    • A Doctors Labor Is Not My Right
      Posted on November 22, 2010 at 12:00pm

      “Those who gain the most SHOULD, in fairness, pay the most”

      This already happens with a fair tax. This is a no brainer.

      Person A makes a certain amount of money and is taxed at a rate of X. Person B makes more money and is taxed at the same rate.

      Person B will pay more taxes than Person A.

      Flat taxes remove the appearance of class. Progressive taxes promote class warfare.

      Report Post »  
    • MilkMustache
      Posted on November 22, 2010 at 12:50pm

      Why is it that no one is talking about the death tax? What is the point of the American Dream if you can’t even share it with your kids when you pass away? Below is what the estate “death” tax is after the Bush Tax Cuts expire. Taxing income is one thing, but to tax our wealth and savings after already playing their game is just too much. How much double dipping are they going to do?

      Lower Limit Upper Limit Initial Taxation Further Taxation
      0 $10,000 $0 18% of the amount
      $10,000 $20,000 $1,800 20% of the excess over $10,000
      $20,000 $40,000 $3,800 22% of the excess over $20,000
      $40,000 $60,000 $8,200 24% of the excess over $40,000
      $60,000 $80,000 $13,000 26% of the excess over $60,000
      $80,000 $100,000 $18,200 28% of the excess over $80,000
      $100, 000 $150,000 $23,800 30% of the excess over $100,000
      $150,000 $250,000 $38,800 32% of the excess over $150,000
      $250,000 $500,000 $70,800 34% of the excess over $250,000
      $500,000 $750,000 $155,800 37% of the excess over $500,000
      $750,000 $1,000,000 $248,300 39% of the excess over $750,000
      $1,000,000 $1,125,000 $345,800 41% of the excess over $1,000,000
      $1,125,000 $1,500,000 $448,300 43% of the excess over $1,250,000
      $1,500,000 $2,000,000 $555,800 45% of the excess over $1,500,000
      $2,000,000 $2,500,000 $780,800 49% of the excess over $2,000,000
      $2,500,000 $3,000,000 $1,025,800 53% of the excess over $2,500,000
      $3,000,000 and over $1,290,800 55% of the excess over $3,000,000

      Report Post » LibertyAdvocate  
    • Compete or Lose
      Posted on November 22, 2010 at 9:08pm

      .
      .
      .
      It is sad that Warren is getting so old.

      Warren’s actions speak louder than his words……Did he give his fortune to the US Government to spend as they say fit???……NOPE..He gave his fortune to a charitable foundation that he obviously felt would DO A BETTER JOB following his wishes than the US government would.

      Warren, if you think the government is better at problem solving then why did you give to Charity????

      Maybe he is getting old and having a hard time being consistent???

      Good luck

      RGS

      Report Post »  
    • Gonzo
      Posted on November 23, 2010 at 9:46am

      I’m sure his wealth is well sheltered from the policies he advocates.

      Report Post » Gonzo  
    • citizenx
      Posted on November 23, 2010 at 3:36pm

      In other news… the father of Trickle Down Economics (otherwise known as Reaganomics) endorses second stimulus.

      http://www.politico.com/news/stories/1010/43219.html

      Report Post » citizenx  
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