US

Warren Buffett: ‘Stop Coddling the Super Rich’ & Tax Them

Warren Buffet Wants Taxes Raised on Americas Super Wealthy

Billionaire investor Warren Buffett and President Barack Obama

Warren Buffett has distinguished himself as a prominent American investor and philanthropist. As one of the world’s wealthiest individuals, his opinion on economic matters is often sought by politicians and media elite, alike. On Sunday, Buffett penned an op-ed piece for the New York Times in which he, once again, unleashed his viewpoints on taxation as it pertains to America’s “super rich.”

(Related: Watch MSNBC’s Buchanan respond to Buffett)

Distinguishing himself as a major opponent of tax breaks for the wealthy, Buffett (who coincidentally endorsed Obama during the 2008 presidential campaign) writes:

While the poor and middle class fight for us in Afghanistan, and while most Americans struggle to make ends meet, we mega-rich continue to get our extraordinary tax breaks. Some of us are investment managers who earn billions from our daily labors but are allowed to classify our income as “carried interest,” thereby getting a bargain 15 percent tax rate. Others own stock index futures for 10 minutes and have 60 percent of their gain taxed at 15 percent, as if they’d been long-term investors.

The famed investor has been sounding off on his opinions on tax rates for years. Watch his 2007 interview with NBC News, below, where he makes similar claims:

Although he admits that “it’s nice to have friends in high places,” Buffett also contends that the wealthy can and should contribute more tax revenue to the federal government. He admits that last year he only paid 17.4 percent of his taxable income, a rate that is much lower than that of the middle class.

Additionally, he writes that when taxes were higher in the 1980s and 1990s, it did little to deter him from investing. In the end, he says that the wealthy don‘t mind taking on more of America’s tax burden, especially with so many of their brethren in the lower and middle classes feeling the brunt of the economic pain. Below, watch a 2010 interview where he, again, makes these feelings known:

Warren Buffet Wants Taxes Raised on Americas Super Wealthy

Toward the end of his article, Buffett begins to discuss the 12 congressmen and women who will be tackling the nation’s finances. Interestingly, he begins to sound alarms that sound similar to the Obama administration’s, adamantly calling for tax increases on the wealthy. But, in contrast to Obama’s proposals to tax individuals who exceed $250,000, Buffett’s benchmark is much higher. He writes:

But for those making more than $1 million — there were 236,883 such households in 2009 — I would raise rates immediately on taxable income in excess of $1 million, including, of course, dividends and capital gains. And for those who make $10 million or more — there were 8,274 in 2009 — I would suggest an additional increase in rate.

Considering this proposal, Buffett targets both the wealthy and the “super wealthy.” Although it is somewhat more conservative than Obama’s stated plans, it will likely still cause angst among conservative Republicans who do not wish to see taxes raised in a down economy.

Regardless, Buffett’s words do carry weight, considering that he, too, would be impacted by the results of his own proposals. One important question to ask, though, is why Buffett takes advantage of loopholes. Considering his disdain for low taxes, wouldn’t it make sense for the investor to avoid exploiting these gaping holes in the tax system?

Or, rather than raising rates, why not close these exemptions and devise a more palatable and easy-to-employ tax system for all income brackets, including those deemed “super wealthy?” These, of course, are simply questions worth considering, as it seems Buffett, having such a low personal tax rate, is currently taking advantage of loopholes and incentives (the very loopholes and incentives that may be causing the inequalities he has such disdain for).

(h/t Huffington Post)

Comments (405)

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  • Rickfromillinois
    Posted on August 15, 2011 at 8:19am

    I don’t understand the wealthy who complain about not paying enough taxes. GO AHEAD AND PAY IT. Don’t let everyone else hold you back. Give as much as you want. But as much as they complain they seem to feel that they can give more money to the government on their own.

    Rickfromillinois  
    • Pat_in_NC
      Posted on August 15, 2011 at 8:30am

      Buffet, rather than give his money to the government, put his billions in a charitable trust.
      More hypocritical progressive ‘do as I say, not as I do’ nonsense.

      Report Post »  
    • Pastor Ray
      Posted on August 15, 2011 at 8:44am

      Just “FIRE” all your tax people and call up the IRS and say how much do you want, if you want to give your money to the OBUMMER Obomanation!

      Report Post » Pastor Ray  
    • MidWestMom
      Posted on August 15, 2011 at 8:45am

      Buffet likes to talk a good game but he lies just about as much as Obama. Remember how vocal he was in supporting Obama’s mortgage overhaul program a couple years ago? That program where the government would work with major lenders to lower people’s mortgages and prevent massive defaults? That program Buffet worked closely with Obama to iron out & implement?

      Buffet owns our mortgage company & guess what? His mortgage company DID NOT participate in that program. How do I know? Because hubby’s hours were cut and we asked to lower our house payment thru the new Obama program. We were told “so sorry, we do not participate in that program”. Then we asked if they would temporarily accept a partial payment without penalizing us. And once again we were told “No”.

      We managed to hang on and thankfully hubby’s job is finally back to full time but it wasn’t pretty, not pretty at all. And no, we had not bought more house than we could afford, we were not driving more car than we could afford, we did not have credit card debt, we did have savings (used that to make up the income difference until it was gone) and we’ve never lived an extravagant more than we could afford lifestyle. We are thankful to be back on a somewhat even keel but everytime I hear that man speak, I remember how his company treated us like deadbeats.

      And all those tax loopholes he says should be closed…..I guarantee you they will only be loopholes that won’t affect his wealth.

       
    • Secret Squirrel
      Posted on August 15, 2011 at 8:51am

      .
      If I hear one more time how Buffet paid a lower RATE than his secretary,
      I’m going to scream.
      If he paid 20% and it’s $1,000,000 and his secretary
      paid 25% and it’s $10,000, who paid the most?

      That argument is for dunces, er, Obama voters.

      The problem is, we tax income, not wealth.
      If Obama wants a fair system, get the fair tax.

      Secret Squirrel  
    • On The Bayou
      Posted on August 15, 2011 at 8:53am

      Here`s an idea, stop spending money we don`t have. Pay off our debt and make sure we don`t purchase anything on credit as a nation.

      Report Post » On The Bayou  
    • Bum thrower
      Posted on August 15, 2011 at 8:55am

      I agree. The USPS runs to and from his place; he can send as much as he wants whenever he wants.

      Liberal ass H***!!

      Report Post »  
    • cowpill
      Posted on August 15, 2011 at 9:16am

      I paid more taxes than this oaf.

      Report Post » cowpill  
    • loriann12
      Posted on August 15, 2011 at 9:21am

      They don’t want to give THEIR money, they want you to give your money. No one with a lot of money ever thinks it’s enough, people who make more than them are the super-rich, not them. That’s called a limosine liberal. Guilty that they made it, but not willing to give up what they made. it’s ok for them to make money, just not everyone else. If they’re so concerned about the rich, go after the congress.

      Report Post »  
    • sWampy
      Posted on August 15, 2011 at 9:39am

      Secret Squirrel I think you miss the whole point, the rich paying a different rate, lower or higher isn’t fair. Certainly the rich paying a lower rate than the poor is completely unfair. Someone paying 25% of a 40K income sure misses the 10K more than someone making 500k being taxed at 20% would miss the 100K.

      Report Post »  
    • Ryan Beaulieu
      Posted on August 15, 2011 at 9:41am

      That‘s because the wealthy who complain are in Obama’s camp and lobby for tax free incentives and don’t have to pay these taxes. People like Mr. Buffet and Oprah and all those other crazies that demand more taxes on the rich actually won’t pay them. Just like the health care mandate that all the big companies had waived by our government. As long as your buddies with Obama, you don’t have to pay your taxes, follow the law, or follow any other rules or regulations that the American people have to follow.

      Report Post »  
    • old white guy
      Posted on August 15, 2011 at 9:46am

      i was under the impression that buffet was an intelligent man due to his business success. it would appear i was wrong, he was just lucky. take all of his wealth and see how the shareholders react.

      Report Post »  
    • lillymckim
      Posted on August 15, 2011 at 9:46am

      I will personally go and pick up Buffets check to the IRS today! I will spend my own dime to fly there …
      Buffet tell me when and where… and I will be there!

      Report Post » lillymckim  
    • michael48
      Posted on August 15, 2011 at 9:49am

      buffy gives his money to billy gates , and billy gates gives his money to buffy…charity??? or wealth preservation…instead …why don’t you KNOW-IT-ALLS give that money to the GOV. GUMBAS??? so they can BURN IT on CRAP…ABSOLUTE TRASH TALKING “CONTROL FREAKS”…just RED MEAT for COMRADE OBIMBO…buffy, you’re a complete AZZ-HOLE !!!!!!!!!!!!!!!!!!!!!!!!!!!!!

      Report Post »  
    • imreddog
      Posted on August 15, 2011 at 10:02am

      People like Buffet could give 100% of their income and they would still be immensly wealthy. They have alread made their billions of dollars and have it safely tucked away in trusts and in foreign banks. Meanwhile, those who are just starting out will not be able to amass wealth if the taxes continue to rise. If Buffet and the others who are rich and are continually saying that taxes should be raised really mean what they say, then they should move into a cheap apartment, fire their servants, sell their expensive autos, start cooking for themselvs and give all of their money to the poor. Don’t hold your breath. These elitist egomaniacs will never give up their position or wealth. The really believe that they are better than everyone else…. you know, the “little people”.

      Report Post »  
    • lillymckim
      Posted on August 15, 2011 at 10:11am

      Here is a partial list of the billionaires club who want US all to pay more in taxes … and yes they have all made it to the COUNTRY CLUB but “NOW” they say there is no room for YOU!

      Ted Turner,
      Warren Buffet,
      Bill Gates,
      Stephen King,
      Matt Damon.
      Michael Moore,
      Barack Obama,
      Joe Biden,
      Mark Zuckerberg,
      Tom Steyer,
      Morris Pearl,
      Michael Steinhardt,
      Mark Ruffalo,
      Doug Liman,
      Edie Falco,
      Garrett Gruener,
      Ron Garret,
      George Soros,
      Jeffrey Immelt,

      I will personally deliver the checks to the IRS for all you billionaires on this list
      who’s feeble minds NOW think we all need to pay more in taxes then we already do
      YES we want it to start with YOU!

      They’ve made their billions. Higher taxes keeps them in the economic and political driver seat.
      It’s a way to eliminate the competition!

      Report Post » lillymckim  
    • thomasdaddy
      Posted on August 15, 2011 at 10:15am

      LMAO!!! None of you people are the “super rich” that Buffet is referring to! I tell you boy, the rich are freaking geniuses!!! They managed to create an astroturf movement of imbeciles to fight for their rights (tea party)! You don’t see any of the super rich out there complaining about the possibility of being taxed more! Nope, only the already broke! Absolute genius!!! LOL

      Report Post » thomasdaddy  
    • lillymckim
      Posted on August 15, 2011 at 10:32am

      The close up pic of Buffet shows he needs to spend a little $$ on a good pair of nose hair clippers and some wax for those eye brows!
      Good grief!

      Report Post » lillymckim  
    • easyed598
      Posted on August 15, 2011 at 10:42am

      Easy for Billionaires to want more people to pay more taxes. Obama wants those making $250,000 to pay more . At least Buffet wants to start at $1 million. Let`s see -He has 10 billion. So he has 10,000 times more than your average millionaire,who he thinks should be paying more. I guess when you get to that many zeros it all seems fair.

      Report Post »  
    • Xkiller
      Posted on August 15, 2011 at 10:54am

      My question to Warren would be ” what’s in this deal for you?” He isn’t saying this out of the goodness of his heart, if he were, he could just PAY it instead of say it.
      Come on, warren, whats the angle here? I trust you about as much as I trust a politician to keep his/her word.

      Report Post »  
    • HippoNips
      Posted on August 15, 2011 at 11:13am

      Buffet paid 17 percent this year because he lost so much from the failing economy. HE took the write offs for himself to reduce his taxable income. If he felt bad , he’d send more in to the IRS
      He wan’t tax rates higher for people making 1 million more and even higher for 10 million , because he’s already paid taxes on his 40 billion, ….he wont be retaxed on it.
      He wants the tax increase BECAUSE he wants to squash any and all of his competition…….all those people who could possible rise up to compete in markets where he is at the top.
      Yes, Buffet wants heavy tax increase on his competition, knowing that he and his billioniare pals will be the only game in town.

      Report Post »  
    • Michael B
      Posted on August 15, 2011 at 11:25am

      Let me help you under stand. His board will not go along with it untill Congress closes the tax loopholes and forces them to. Mr. Buffett is old enough and now wise enough that he does not fear to speak his mind. Once he has past from this world half of his money will go to help the USA as he has promissed and his board and the greedy side of his family will try to stop it. They ones that love the man will respect his wishes. Hats off to you sir for wanting to wake up the middle and lower classes to what needs to be done. The ones here post bad about your ideal seem to have there own agenda or just be stupid.

      Report Post »  
    • wesleyapril
      Posted on August 15, 2011 at 11:31am

      Mr. Buffet,

      It appears that many many people feel the same way I do about you :) Glad to be in good company – and back off CNN.

      Report Post »  
    • Michael B
      Posted on August 15, 2011 at 12:09pm

      @lillymckim
      Thanks for the list. But part of your statement is wrong. Buffett is saying the rich of the rich. unless I miss read your post. The common man is not being asked to have his taxes raised by Buffett.

      Report Post »  
    • Shiroi Raion
      Posted on August 15, 2011 at 12:36pm

      Buffet must be senile

      Report Post » Shiroi Raion  
    • Michael B
      Posted on August 15, 2011 at 12:55pm

      @ SECRET SQUIRREL
      Is a tax loophole something that was not meant to be in the tax laws? I think so. So why would it be wrong to take thim out. plus reread Buffett’s statement about it not hurting the investers. I agree with this, up to a point. One more thing its the % amount that we all pay that gets me. If I make $100 a day and have to pay 20% that would leave me $80 to live on. The guy making $1000 a day pays 10% due to loopholes in the tax system may pay more but he is still left with $900 a day to live on. He should at the very least pay the same 20%. So get rid of the tax loopholes.

      Report Post »  
    • AOL_REFUGEE
      Posted on August 15, 2011 at 1:11pm

      Every since writing that disgustingly incessant “Margaritaville” song, he’s lost it.

      Report Post » AOL_REFUGEE  
    • jonnydoe
      Posted on August 15, 2011 at 1:19pm

      If you believe that higher taxes on the wealthy will destroy productivity, what are your thoughts on this video?

      http://www.youtube.com/watch?v=CnrEHFwZ9hk&feature=player_embedded

      Report Post » jonnydoe  
    • Marci
      Posted on August 15, 2011 at 1:27pm

      Then pay it Warren. You are so full of crap. The problem isn’t that the government wants to just go after wealthy Americans, it’s what they consider to be wealthy!!!!!!

      Report Post » Marci  
    • Jaycen
      Posted on August 15, 2011 at 1:30pm

      I get it now. Philanthropist is Progressive code for “MONSTER”.

      Report Post » Jaycen  
    • Ben
      Posted on August 15, 2011 at 1:45pm

      I agree. And every taxpayer could already today pay in additional taxes, but no people pay more that the rates they are charged. So why don’t we urge Mr. Buffett to pay up lets say 65%, like in Sweden of his capital gains?

      Report Post »  
    • shootinugli
      Posted on August 15, 2011 at 2:11pm

      I agree. It is true that the IRS will take as much money as you want to give them beyond your obligation. There’s nothing the stop them from doing that now. The IRS will smile and say, “Thank you Mr. Buffet.”

      Report Post » shootinugli  
    • old white guy
      Posted on August 15, 2011 at 2:16pm

      i always thought that 100% of something was all of it. does this not apply to taxes.

      Report Post »  
    • warriorspirit
      Posted on August 15, 2011 at 2:24pm

      The problem with his statement is you must read between the lines and understand what he is really saying. He said that congress should raise taxes on people “EARNING” more than $1 million. Note the word “earning” because I think it is very important. The problem I have with that word is the IRS is very specific to what earning money is or what they call “earned income”. You see Mr. Buffet has made his money primary in the stock market. Profits from stocks is not considered earned income it is a “Capital Gains”. Therefore a raise in the tax for people EARNING money will have no effect on Mr. Buffett. He gets to sound like a great guy without losing any real money. Don’t get me wrong he donates a crap load of his money to charities (which is how it should be). but don‘t think for a second he is asking the Government to take more of HIS money because he isn’t. I also don’t think he used that word by mistake. He is a very smart man and I think he knows precisely what he was saying. Remember he is not asking the rich to give more of their wealth to the Government just what people earn from this point on.

      Report Post »  
    • 1TrueOne55
      Posted on August 15, 2011 at 3:45pm

      I think everybody should be taxed at the same rate. Fair Tax would tax what your buying and not what you make before you buy your groceries and pay utility bills. If we did that then the rich would be paying the same as the poor and you would get an economy that would thrive a lot more than what we have now… Do you remember 1910? No well taxes were a lot more fair then…and the economy did just fine.

      Report Post » 1TrueOne55  
    • RCScrolls
      Posted on August 15, 2011 at 4:13pm

      Of course Warren Buffet is for the rich paying more tazs He is a progressive Socialist
      what would anyone expect out of Him.
      It the worse thing for a declining economy, that is to raise taxs on those who provide the jobs
      We will be jurt even more.
      It does however show their true intent, Ruin America and raise taxs because theres going to be no more money very shortly and Obama knows its over, He cant raise the debt cieling no more there by they have to increase the revenues through taxs, its the only way they get more now. All the liberal cheerleaders are chanting the same thing, Just keep track of heir names because they aer the ones against Capitalisim and the American way of life, they are the RADICAL LEFTIST LIBERALS MARXISTS SOCIALISTS

      Report Post » RCScrolls  
    • one years food ration like glenn says
      Posted on August 15, 2011 at 6:13pm

      @MIDMOM: we did have savings (used that to make up the income difference until it was gone) <<<<<<
      This is what you're supposed to do when things get rough, not ask for a handout first and then realize you can actually make it on your own, as you guys did, and proved to yoursel..f mrs. liberal.. You're a lib and don't even know it.. You can't spin your way out of this, I am using YOUR own words dear.. Do yourself a favor quit now and take the loss…

      Report Post » one years food ration like glenn says  
    • JJ Coolay
      Posted on August 15, 2011 at 6:30pm

      Why don’t these talking heads shut their yaps.
      We need a flat tax where everyone pays an amount based on what they make, no ifs, ands or buts.

      Report Post » JJ Coolay  
    • Patrick in AZ
      Posted on August 15, 2011 at 6:47pm

      By all means old man, stop claiming tax deductions, stop using the capital gains rates and start using the income rates to calculate your taxes, and of course, feel free to write an additional check for your gift to the federal government – there is nothing stopping you except your own personal greed.

      Report Post » Patrick in AZ  
    • co2dog
      Posted on August 15, 2011 at 6:57pm

      Mr. Buffett .. There are about 8,000 people who have Earned Income over $10,000,000. You are one. Rather than ‘give’ to your foundation which is a tax free way to pass wealth to your heirs, give your donation, let’s say $5 billion to the US government to help ease your conscience. The list is short, so have a little party of the obama donors who made over $10 million and ask them to give a nice percentage. Maybe you can talk obama into making over-payment tax deductible.
      Oh, while you are at the giving away business, give some to CA and NY that are going broke because of giving away stuff.

      Report Post »  
    • Ron_WA
      Posted on August 15, 2011 at 11:02pm

      You are entirely correct. Every American taxpayer is allowed to & encouraged to pay extra in taxes. Those who whine they are not paying enough just need to shut up & pay.

      Report Post » Ron_WA  
    • thepatriotdave
      Posted on August 16, 2011 at 3:17am

      If the rich like Buffet are so inclined to want to pay more there is an easy solution…. just write Uncle Sam a dam* check! Once you pay your tax bill simply write another check with a number and then add as many zeros on it you want. I guarantee Uncle Sam will cash it!
      I’m NOT a rich man, not even close, but considering the rich pays a huge percentage of the taxes paid in this country, and a huge percentage of Americans DON’T PAY ANY, I have no problem with NOT asking the rich to pay more.
      It’s about time for the free lunch to be OVER! Every American in this country should pay SOMETHING. Fair Tax or Flat Tax… you can fight it out which one, but its time has arrived! Yes, even the poor should have some skin in the game.

      Please email Allen West and ask him to run for President…
      https://forms.house.gov/west/webforms/contact-form.shtml
      He is the only one that can beat Obama!

      Report Post » thepatriotdave  
    • Pegi
      Posted on August 17, 2011 at 10:10am

      I just don’t understand these people. If they think they should be paying more in taxes, go ahead (be my guest) and send the IRS a check. You‘ll feel better and it won’t affect me in the least. Put your money where your mouth is or shut up!!

      Report Post »  
    • kabenninger
      Posted on August 20, 2011 at 4:00pm

      I agree – if you feel you’re not paying enough – write that check and send it off – maybe buffet is so rich that paying a million extra per year won’t affect us consumers – however, basically, the types of rate increase the dems are proposing will only end up depleting my pocket book.

      Report Post »  
  • tomloy
    Posted on August 15, 2011 at 8:18am

    The man’s a hypocrite! He is well aware that the regardless of the tax code there are enough tax loopholes the rich can use to avoid any taxes. And, failing that, they can move out of the US to
    more tax friendly countries, especially someone like Warren Buffet. and if Buffet is so endeared to taxes why doesn’t he just write a check to the feds for any amount he wishes to give?

     
    • smithclar3nc3
      Posted on August 15, 2011 at 8:28am

      My point exactly Tom,
      All these rich liberals think the rich should pay more. No one’s stopping them from paying 50 70 hell 100% if they feel so strongly about it. It seems to me that these dumba55 never had the common sense to know you don’t put all your eggs in one basket. If America’s eggs are all in the government basket what happens when the government drops its…NO ONE EATS
      The truth is these super wealthy who want to redistribute wealth would do a better job simply gathering million names of people living below poverty drawing names and giving a million to each name drawn.
      For every dime that makes to the people in the name of government charities 90 cents goes to the buearucrats. wake up GOVERNEMNT DOESN’T CHANGE THE WORLD IT ENSLAVES THE WORLD

      Report Post »  
    • HKS
      Posted on August 15, 2011 at 8:36am

      Part of a good liberals plan is to take the spot light off themselves. Do some digging on him and you will probably find the real crap they are covering up. Typical liberal, want to know what they are up to, just look at what they are bitching about, but they think you’re to stupid to figure it out.

      Report Post » HKS  
    • Hobbs57
      Posted on August 15, 2011 at 8:38am

      Agreed !! Buffett is taking aim at the men who are somewhat wealthy just beneath him. I will be the millionairs who get sacked and take the heaviest hit. I guess he is getting annoyed with those pesky millionaires thinking they can act as if they are even closely as wealthy as one, Warren Buffett, Billionaire ! This arogant bafoon is ignorant enough to think we are too stupid to realize it is the loop holes these people exploit to save on taxes. Regardless, you tax somebody an extra 10%, they don’t hire a maid, or buy a car, or hire a landscaper, we suffer. Especially those of us in the service industry. Maybe they don’t send there child to the shrink or therapist, and I or a potential client. Whatever the case, it is the millionaires, especially those who own businesses, who will suffer far greater than the super wealthy. This man is a super hypocrite is all. Once again, regardless, it is their money, the should be able to keep as much as possible.

      Report Post » Hobbs57  
    • one years food ration like glenn says
      Posted on August 15, 2011 at 9:09am

      @MIDWESTMOM : How do I know? Because hubby’s hours were cut and we asked to lower our house payment thru the new Obama program.
      You complain and hate the liberal cause and Obama, until you need something from them ? I think you better rethink your party you are a typical liberal but the only difference here is you claim to hate their policies and beliefs which makes you a hypocrite wondering did you take advantage of “ cash for clunkers” also ?? Sheesh !!!

      Report Post » one years food ration like glenn says  
    • sWampy
      Posted on August 15, 2011 at 9:45am

      That program looks pretty bad, they lower your interest for 5 years down to 2% or so, then it jumps back up after 5 years, and the difference is tacked on the end. Why now reduce the interest for the life of the loan, they are paying people 1/2% or less for money, why now loan at 2%?

      Report Post »  
    • MidWestMom
      Posted on August 15, 2011 at 10:25am

      @ one years food ration like glenn says

      You’re wrong. We used up every resource we had to avoid falling behind on our house payments. Not that we had many to begin with (we live within our means) but we eliminated all extras, occasional dining out & movies, cable etc as well as paring essentials like groceries down to the bone. We sold non-essential personal possessions, family antiques etc. We were determined not to default on our mortgage or fall behind on our payments. We were honest and tried to work with the mortgage company rather than shrugging our shoulders and walking away from our responsibility as so many others did.

      Although our income was cut by 40%, we didn’t ask anyone to give us something for nothing and we certainly didn’t ask for a free ride. We did not apply for any other assistance. Unlike a great number of people, we didn’t whine that it was too hard, quit doing everything we could and expect the government to support us.

      And don’t forget, the mortgage program was funded in part by my tax dollars. Those same tax dollars the government uses to pay for Obama’s golf games.

      The only hypocrites here are Warren Buffett and other liberals. What they say & what they actually do are vastly different things. And no, we didn’t take advantage of “cash for clunkers”. We couldn’t afford a new car and weren’t going into any debt we couldn’t pay.

      Until you’ve walked in my shoes, you have no right to judge.

      Report Post »  
    • easyed598
      Posted on August 15, 2011 at 10:54am

      So many corporations have their virtual headquaters in Switerland to avoid USA`s high taxes saving them Billions of dollars. I think this was reported on Dateline or 60 minutes last night. If US cut Corporate taxes by 10% this would bring million of jobs back to this country and Billions of tax dollars back to our Treasury. However this administration is too dumb to figure this out.

      Report Post »  
    • Nightjar
      Posted on August 15, 2011 at 1:53pm

      TomLoy, was thinking the same thing. Sharing the wealth = Communism?

      Report Post »  
    • IndependentJoe
      Posted on August 15, 2011 at 4:50pm

      Doesn’t feel great to be the lap-dog suckers to those “job creaters” who create no jobs, but just make money from money, adding no wealth or value to our country? The meek may inherit the earth, but only after those with the money have sucked it clean and left you a pile of dirt. God I love being a conservative, blinded by the black man, gays, muslims, abortion and everything else sold to me as important, to see the truth that the great deceiver, satan, has full control over me….

      Report Post »  
  • GulfPeg
    Posted on August 15, 2011 at 8:17am

    We weren’t born yesterday Buffett and Obama. We know Obama is going to give Buffett tax breaks so it will counter the higher taxes he would pay.

    Report Post »  
    • michael48
      Posted on August 15, 2011 at 10:25am

      take EVERY DIME…Berkshire, Microsoft, Facebook, Google, GE etc… and give it to Reid, Piglosi…SEIU, Acorn, UAW, AFL-CIO, and watch these TARDS eat out of TRASH CANS….made thier FORTUNES in the Capitalist System and now they wants US to live EQUALLY, COLLECTIVELY, under Marxist dictate…it’s called ELIMINATE ALL COMPETITION via GOV. GUMBA FIAT…CAPITALIST with THIER money…SOCIALIST with OUR MONEY…buffy, you’re a FIRST CLASS JERK!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

      Report Post »  
    • weeblewacker1
      Posted on August 15, 2011 at 11:35am

      wow!! what a bunch of real brain surgeons on here!! Obama’s the one giving Mr.Buffet the tax breaks?ummm, i thought it was the tea-party and rethugs that did that with there little hissy fit a couple weeks ago about raising taxs and closing loop-holes on the rich?selective memory? and then theres the person who had a fit because Mr.Buffet put a crap-load of money in a charitable trust! i thought the tea-party and rethugs wanted the private sector to do all the charitable giving and not have the gov. involved?which is it? and this is for midwestmom,sorry to hear about your problems,but maybe you should sit down with your husband,get on your puter and do some some open-minded research on right vs.left on all issues.I think you will find that the right are the ones screwing people like you.don’t just listen to fox news,really dig in and check facts.do you realize that in the past 2 debates,there was something like 54,000 words spoken by the republican candidates in like 7 hours time,do you know how many times the words “middle-class” was used? 0,thats right zero! zip! nada! kinda telling right there.and by the way GOLFPEG,Mr.Buffet is not the only billionaire asking to raise the tax rate on the rich,Bill Gates is,Mark Zucherberg is,thats two off the top of my head,there is many,many more, check to see who is on the Gates foundation list. these dudes have done more for the poor and needy than you ever even thought of.will you leave your entire estate to charity? they are.

      Report Post »  
  • BrerRabbit
    Posted on August 15, 2011 at 8:16am

    The ol’ coot can write that check anytime he wants to do so. Amazing how he has chosen to speak for all.

     
    • Wiz001
      Posted on August 15, 2011 at 9:47am

      I am from Omaha Nebraska and just getting ANY KIND of check from this TIGHT ass is almost impossible. And here he is wanting to pay more??? who set this up?? old George must have told him to say that B/S. I have a friend who is an A/C repairman in Omaha and he did service on buffets system only once and he will not do it again.. he spent 3 1/2 hours and the bill should have been over 300 but the boss said just make it even 300 and buffet tried to get that reduced and refused to pay until he talked to the boss.. and he got the bill reduced to 225 then he paid it..SO tell me he wants to give more taxes… SO i do not see him writing that check anytime soon..

      God Bless Our Troops

      Report Post »  
  • Thinking Man
    Posted on August 15, 2011 at 8:15am

    Hey Warren, write them a check. I don’t see you donating to the government. I only see you and your buddy, Bill Gates, putting your money into your social manipulation and control “charities”.

    I am thoroughly discussed with this man. Put your money where your mouth is. These guys always want to use the tax code to prevent future businesses that will come along and compete more successfully then they can.

    He expects to be not included in the tax increases….Notice, they always talk about stock dividends and never book or movie royalties.

    I’m betting George Soros is going to take him out, anyway.

     
  • 13th Imam
    Posted on August 15, 2011 at 8:15am

    Want to see everyone who Actually Pays Taxes get up in arms? Change the System so that they have to pay in one sum , all their yearly Taxes, no withholding. When these Actual Taxpayers see how much the thieves in DC Steal. it will end quickly. Then work on the Connecticut ( or wherever you live) Gov and state Legislature Thieves.

    Report Post » 13th Imam  
  • pma_guy
    Posted on August 15, 2011 at 8:15am

    Mr. Buffet (and I’ve always loved this man, his story and his success) MUST be going senile. I wouldn’t invest with him if I were you.

    Report Post » pma_guy  
    • walkwithme1966
      Posted on August 15, 2011 at 8:31am

      Actually I believe that he and other wealthy people who have spoken out – are exactly correct – why put the major burden of our countries debt on the backs of those less able to support it? And I bet if you do a lot of research, you will find that Buffet already sends the IRS extra money each year or gives to a great many charities! http://wp.me/pYLB7-1oT

      Report Post » walkwithme1966  
    • 13th Imam
      Posted on August 15, 2011 at 8:40am

      Tax all the RICH, Everything they have and run this Thieving Federal Government for 16 WEEKS. Then TAX the Almost Rich , everything they have. Then the Uppermiddle Class, take everything they have. Then the middleclass, take everything they have.
      Hey Walk, when you run out of People to steal Everything they have, who are you going to Steal from?

      Report Post » 13th Imam  
  • lobster
    Posted on August 15, 2011 at 8:14am

    What a huge pile of poop. The superrich have all their shekels hidden in trusts and shadow companies….

    Report Post »  
  • DAH90
    Posted on August 15, 2011 at 8:14am

    I think closing the tax loopholes is a good idea, what I don’t understand is if Buffet and his buddies want to pay more-just write out a check. In the memo line write toward national debt and be done with it. Then he can tax himself at the rate he deems fair. Just do it!

    Report Post »  
  • singray
    Posted on August 15, 2011 at 8:13am

    Funny how all the super rich want their taxes raised. I guess that once you have enough then taking more will only hinder those trying to get to their level. If you said you wanted to tax their assets at this higher rate the the calls of unfair would be heard. Once I have enough to last my and my decendents lives then taking more that dare to try and get rich like me is now fair.

    Report Post »  
  • Jack2011
    Posted on August 15, 2011 at 8:12am

    Why can’t the IRS distinguish between SMALL BUSINESSES making over $250,000 whose owners file an INDIVIDUAL INCOME TAX RETURN and whose profits are really for the business and NOT salary for the owner

    AND

    A PLAIN RICH PERSON who inherited his money AND/OR earns MILLIONS in SALARY working for an investment bank

    AND

    JUST TAX THE HELL OUT OF THE GUYS making MILLIONS IN ACTUAL SALARY OR INHERITED MONEY.

    Why? Because the RICH like the Kennedy’s and Buffets get trust funds to PROTECT THEIR MONEY FROM taxes and/or HIDE their money overseas, etc. etc.

    The RICH LIKE the FLAT TAX – Including O’Rielly.

    But it is a NATIONAL SALES TAX (getting RID of the income tax FIRST) which will TAX THE RICH as there are NO LOOPHOLES, TRUSTS, etc. to hide from when buying yachts, jewelry, mansions, etc

    Report Post »  
    • LieutA
      Posted on August 15, 2011 at 5:27pm

      Can’t be just a National Sales Tax. There must be credit “loopholes” for people that that have already been taxed on the money they are spending. If I saved $300,000 over 20 years after taxes like my parents taught me by eating spaghetti 4 time a week, how much additional would you have me pay when I finally purchase my dream home or supplement my retirement income for the next 20 years? Then there would be schemers (rich with tax lawyers) that would find a way to declare what they spent as post tax, while new earned income will go into foundations as usual. And then all the well to do would be living in corporation owned homes, eating for free in corp cafe, driving company car earning no money to speak of, yet spending nothing on living the good life. (Hmm, is that how Buffet does it?) It is not as simple as just changing code.
      One good thing would be to start taxing the POOR and those who pay no taxes. They have no stake in the game now and will eventually vote to tax all that do pay – more and more. It is just a sacrifice they will have to make to ensure Government is wasting EVERYONE’s money equally!!!!

      Report Post »  
  • bandi9
    Posted on August 15, 2011 at 8:11am

    Mr. Buffet is obviously becoming out of touch in his elder years.

    Report Post »  
  • pygmalion
    Posted on August 15, 2011 at 8:10am

    I think the comments here simply dismissing the words of the most successful U.S. investor of all time are a little presumptuous. I tend to agree with him, but for a different reason. The richer you get, the smaller percentage of your income you actually spend as opposed to invest. Your spending is someone else’s income, so as wealth gets more and more concentrated in the hands of fewer and fewer people, we all suffer. For the super rich, the question should be: would you rather have 10% of 100 or 8% of 180 (Numbers made up to illustrate my point).

    Report Post »  
  • Manitu0
    Posted on August 15, 2011 at 8:10am

    Donate as much as you want Warren, no one is stopping you. Didn’t the S&P downgrade you too?? Yep, Berkshire got a “Negative from Stable”. Maybe Warren, you should work on getting your fiscal ducks in a row before you start manipulating what everyone else needs to be doing?!?

    Report Post » Manitu0  
  • rickbob
    Posted on August 15, 2011 at 8:09am

    How about it, Mr. Buffet, a tax of 100% on every bit of wealth over, say $10 million. Yes, any money, not income, you have over $10 mil goes to Uncle Sugar. That would take care of our debt for about a month and a half.

    Report Post » rickbob  
    • smithclar3nc3
      Posted on August 15, 2011 at 8:16am

      Hey Mr. Buffet there’s nothing stopping you,Soro,Gates,and all of Hollywood from giving 50,60,75 hell even 99% of what you earn to the Governement. If you idiots think the rich should give more than lead by example…and STFU about.

      Report Post »  
  • NHwinter
    Posted on August 15, 2011 at 8:09am

    Time for the government to take Buffett’s, Soros’, Oprah’s, Gate’s etc. wealth. Yes, take the billionaire’s money only, not those that make millions. Take Soros’ gold too, all of it and back our paper money with gold. These crazy fools. If he only paid 17.4% in taxes, why did he volunteer lots and lots more?

    Report Post » NHwinter  
    • NHwinter
      Posted on August 15, 2011 at 8:17am

      meant that to be – why didn’t he volunteer lots more?

      Report Post » NHwinter  
  • OhioRifleman
    Posted on August 15, 2011 at 8:08am

    Your honor, I would like to submit this article as evidence that being a billionaire investor does NOT make you any more or less intelligent than the zombies that you hobnob with.

    Thank you.

    Report Post » OhioRifleman  
  • GayDem4Beck
    Posted on August 15, 2011 at 8:07am

    Mr Buffett… what’s stopping you from putting your money where your mouth is… Write the check in front of everyone, lets see you lead by example and not by opening your mouth. If I was a betting man, Warren Buffett has most of his money invested elsewhere, to avoid taxes himself. SO he wouldn’t be impacted by redistribution of wealth.

    ONLY 8,247 people make over 10-mil a year. ONLY 229,000 people make over 1-mil a year. If you tax those individuals 100% its nowhere near enough money to cover the current rate of spending & entitlements in this country. That’s why Obama is targeting those that make over 250-k a year (including businesses).

    Progressives want to tax the rich to pay for spending, for S.S. & Medicare, for Obamacare, and the list goes on. It’s there only freaking answer to every problem. Meanwhile they pass regulations that hurt business and restrict “Revenue” growth (taxes) in this country. How about focusing on getting the 49 to 51 percent of folks that don’t pay anything into the tax system to start paying there fair share Mr. President. We need to get people to work NOW ! Cain for POTUS of American !

    GayDem4Beck  
  • ctw19
    Posted on August 15, 2011 at 8:07am

    taxing investment capital is a bad idea. growing government is also a bad idea. and when you give government money, it borrows and spends several times more. We should cut spending, not tax job creators.

    Report Post »  
  • Cat
    Posted on August 15, 2011 at 8:06am

    Anyone can make money, when they make rules for money.
    Mr. Buffett is true to his name, just change the pronunciation and you hear something completely different.
    No matter which way you cut it, everyone spends money.
    Doctors will tell you, “Eat or die.”
    Politicians say, “Not to worry, the government will take that so you don’t have to worry.”
    Bull.
    Taxation on the value of labor is robbery.
    It doesn’t matter who writes the tax rules, the problem is the concept of taxing productivity is completely counter productive.
    Keep your mouth shut Mr. Buffet’ you’ve had enough to eat.

    Report Post » Cat  
  • GulfPeg
    Posted on August 15, 2011 at 8:03am

    I don’t know why Warren Buffett is insisting on raising taxes. I haven’t heard any other billionaire asking for more taxes. How about Oprah, not even her! If Obama insists on raising taxes, he is going to loose more and more voters.

    Report Post »  
    • RobertinTX
      Posted on August 15, 2011 at 8:08am

      He wants others to pay. He won’t. The Death Tax doesn’t affect him because his wealth is being donated to the Bill and Melinda Gates Foundation. Income taxes barely affect him because his wealth is in stocks and he pays capital gains tax. His salary is quite small at B-H Warren Buffet is a smart investor but one monumental hypocrite.

      Report Post »  
  • seeker9
    Posted on August 15, 2011 at 7:59am

    His secretary pays the same rate as WB on any portion he/she earns on capital gains. Just like everybody else. WB could start a charity foundation if he was so concerned.

    Report Post » seeker9  
    • Armed Patriot
      Posted on August 15, 2011 at 8:05am

      Write a damn check to the IRS already and quit trying to takes other peoples money. Its thiers, not yours. Lead by example Warren. Until then, shut up stupid.

      Report Post » Armed Patriot  
    • chazman
      Posted on August 15, 2011 at 8:06am

      Maybe we, as Americans, should just stop paying taxes altogether and start over, beginning by hanging all those politicians that need hanging. Then we can hang the Liberal Marxist’ in the media and then the commies.

      Report Post »  
    • Spqr1
      Posted on August 15, 2011 at 5:45pm

      He’s talking about EFFECTIVE rates. You know, REALITY? His sec pays around 30% on earned income (ie: WORKING). and Buffet pays around 15% on dividends (ie: NOT WORKING). Get it? You tell me how that makes a healthy economy? How long can we keep running an economy that functions to primarily benefit people who don’t actually produce anything?

      Report Post »  
    • seeker9
      Posted on August 15, 2011 at 11:31pm

      @spqr1

      I think it is you that needs a dose of reallity.
      First, dividends are taxed as regular income except for qualified dividends which are taxed at 28%. See 1040 Sch B.
      You sound like Chris Matthews with that “they don’t produce anything”. Well, companies go public to raise capital from investors to grow their business. That means jobs. If the company is successful, the investor is rewarded in the form of capital appreciation or dividends. There are substantial risks in investing in companies, so in return for taking that risk, investors have been given the 15% capital gains tax rate.
      There is no way any reasonable person can claim that this or any other economy is primarily to benefit people who don’t produce anything. Even Russia and China have stock exchanges.
      You might read Milton Friedman “Free to Choose”.

      Report Post » seeker9  
  • dthompson579
    Posted on August 15, 2011 at 7:57am

    Dear Mr. Buffett,

    Wright a check and shut up!

    Thanks

    dthompson579  
    • Ssenkrad
      Posted on August 15, 2011 at 8:02am

      “In the end, he says that the wealthy don‘t mind taking on more of America’s tax burden…”
      Nice work putting words in other people’s mouths. I doubt any sane person with money would want the government to take even more out of their coffers, especially with the “spectacular” performance the government has given us thus far.

      Report Post » Ssenkrad  
  • starman70
    Posted on August 15, 2011 at 7:56am

    OK Warren, go ahead and “Donate” 1/2 of everything you have to the Federal Government. This might alleviate your guilt trip for becoming so rich.

    Report Post »  
  • progressiveslayer
    Posted on August 15, 2011 at 7:52am

    Buffett doesn’t get it,if you feed the beast it won’t pay down the debt it will spend more on useless and wasteful programs.Buffett if you feel the need to pay more for useless programs then knock yourself out & send the check,I‘m sure there’s rational millionaires & billionaires who feel differently.

    Report Post » progressiveslayer  
    • Standing With Israel
      Posted on August 15, 2011 at 8:10am

      He does get it – do you imagine he won’t be rewarded in favors for this spot in the NYT? Unlike us, he will have laws written just for his tax purposes. The wealthy pay more than their fair share. The politically connected like Buffet and GE, do not and will not under the current tax system.

      Report Post »  
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