Buffett Speaks The Truth

[Doove]

Originally Posted by Jackie S

I am already paying at the maximum rate for my income bracket, as I have zero deductions. My daughter is a school teacher, and I pay more in taxes than her gross income.

Again with the braggadocious comment about how much you make.

And you make that much money, but have zero deductions?

So, Warren Buffet can kiss my ass. I work for every penny I make, and I am tired of some super rich billionaire, lazy ass malcontent, or two bit polititian that has never held a real job wanting more, and more, and more.

Apparently the only forms of class warfare that you're against are those which you perceive to be aimed at you.

[BigLouie]

Originally Posted by Whirlaway

...

But of course that isn't what Buffet or Obama are proposing; they want more money into the general treasury to fund bigger government, more entitlements, and more and more debt !!!!!!!!!!

Buffet's rant is another attempt by a Democrat to boost government spending, more government debt and a greater nanny state.

Really? Are you that narrow minded to think that is what Buffet is proposing? You got all of that out of Buffet's statement that Congress has coddled the Ultra Rich. By the way you keep saying Democrats I have to assume you think the Republicans would do a better job of cutting spending. Don't make me laugh.

President Bush presided over the largest overall increase in inflation-adjusted federal spending since Lyndon B. Johnson. Even after excluding spending on defense and homeland security, Bush is still the biggest-spending president in 30 years. His 2006 budget didn't cut enough spending to change his place in history, either. Total government spending grew by 33 percent during Bush’s first term. The federal budget as a share of the economy grew from 18.5 percent of GDP on Clinton’s last day in office to 20.3 percent by the end of Bush’s first term. The Republican Congress enthusiastically assisted the budget bloat. Inflation-adjusted spending on the combined budgets of the 101 largest programs they vowed to eliminate in 1995 has grown by 27 percent. The GOP was once effective at controlling nondefense spending. The final nondefense budgets under Clinton were a combined $57 billion smaller than what he proposed from 1996 to 2001. Under Bush, Congress passed budgets that spent a total of $91 billion more than the president requested for domestic programs. Bush signed every one of those bills during his first term. In Bush’s budget exactly as proposed, not a single cabinet level agency was smaller than when Bush assumed office. Republicans could reform the budget rules that stack the deck in favor of more spending. Unfortunately, senior House Republicans are fighting the changes. The GOP establishment in Washington today has become a defender of big government.

Note I am not saying the the Democrats are any better, you just need to be honest in your views of BOTH parties.

[TexTushHog]

Originally Posted by Jackie S

I am already paying at the maximum rate for my income bracket, as I have zero deductions.

Well, I pay the maximum tax rate for all income brackets. So fucking what??!!!!

And suppose that your marginal rate was jacked up an entire 4.6% points back to where it was in the Clinton administration. What would you do differently? Would you quit working? Would you quit investing and put your money in a mattress? Seriously, answer this question for us. Suppose you had to increase your tax payments 2 - 3%. How would that really make your life all that much different? I'd sincerely like to know.

Frankly, I wouldn't even notice it. I couldn't tell you how much income tax I paid last year within $50,000. Maybe not even within $100,000. It's just something that we withhold in December depending on how much money the firm has made that year. It's just another bill to me.

Would that 2 - 3 % really effect your life or your economic decisions? Let's hear an answer to these questions.

[MrGiz]

Originally Posted by TexTushHog

. . . Suppose you had to increase your tax payments 2 - 3%. How would that really make your life all that much different? I'd sincerely like to know.

Would that 2 - 3 % really effect your life or your economic decisions? Let's hear an answer to these questions.

I accept your point!!

Taking the incredible amount of waste, fraud, & corruption within many Government programs into consideration. . . would a 2 - 3% "real cut" in funding really make much difference in the "real" services they provide? * Many people would sincerely like to know!

[Doove]

Originally Posted by TexTushHog

Suppose you had to increase your tax payments 2 - 3%. How would that really make your life all that much different? I'd sincerely like to know.

C'mon. We all know they'd give up their $300,000/yr income to save themselves the extra $3000 tax payment they'd be forced to make.

We know this because Ayn Rand told us so.

[fine dimes21]

Not going to happen. Inside Job, the movie gives you good reasons why it isn't.

[Whirlaway]

Obama will renew them (when they expire in late 2012 before the election); just like he did in 2010. He will say otherwise, but in the end he will not veto them !

Obama is a phony......He says one thing and does thing other...it's his DNA; he is a 3-card monte hustler from the streets ! Keep an eye on what he does, not what he says.


http://content.usatoday.com/communit...uts-for-rich/1

[WTF]

Originally Posted by Oliver Closeoff

Not going to happen. Inside Job, the movie gives you good reasons why it isn't.

Every American should watch this movie...

Along with the Pat Tillman Story!

[latnlvr]

I am curious . Can someone explain to me this question? Every working American is contributing to Social Security and Medicare. The Federal government takes that money and gives IOU to the Trust(??). Then spends those amounts on Tax cuts and foreign wars. Now they want to cut SS benefits because they call that entitlements. They expect the future generations i.e. our kids and grand kids to pay off the debt.

My question is why no body has asked the Congress to stop stealing our Social Security funds. Let us cut all the benefits to the congressmen, Senators and the current and ex-presidents, till they cut the deficit, bring the SS funds to positive and the Federal government lives within it means as we all i.e responsible citizens live. Let us Cut CORPORATE WELFARE ( who export jobs to Overseas)

[Chica Chaser]

I'm also curious. So when the govt raises taxes on the "rich" that will certainly affect every member of Congress and of course the President. So they want to vote to raise their own taxes? Or will there be the typical "Congressional Loophole" that they are exempt from the regulations they pass?

[Casanova69]

Originally Posted by Chica Chaser

I'm also curious. So when the govt raises taxes on the "rich" that will certainly affect every member of Congress and of course the President. So they want to vote to raise their own taxes? Or will there be the typical "Congressional Loophole" that they are exempt from the regulations they pass?

Well Chica Chaser, I think Buffet is referring to the people that own the means of production. He's advocating higher taxes for the multi-millionaires and billionaires in this country. I can't say that I disagree with him.

We need more tax brackets and higher tax brackets for the wealthy. That's the best path to prosperity, and in the long run, equality.

[Wizard of Ahhhhs]

Originally Posted by Casanova69

We need more tax brackets and higher tax brackets for the wealthy. That's the best path to prosperity, and in the long run, equality.

Prosperity and equality for whom, the 50% who don't pay any taxes??

[Wizard of Ahhhhs]

One of the best comments I read about Mr Buffet... pulled from http://campaign2012.washingtonexamin...warren-buffett

I have six major issues with Buffett. 1) He INTENTIONALLY does not have Berkshire pay him a salary. If he did, his tax consequence would surely be at the highest income tax rate on whatever that salary would be. It is HIS CHOICE not to take a salary, therefore HE is responsible for his own lower tax rate. 2) The taxes that Berkshire pays are truly mostly taxes paid by HIM! It is interesting how he omits Berkshire's tax liability when discussing his tax liability. 3) IF the US government were such a great and competant spender of money, why does he (and many others, including Gates) start foundations? The benefit to them is 1) tax reductions and 2) THEY get to decide where that money goes! So, inefficient government agencies decide where your and my money goes, but that isn't good enough for Buffett and Gates! THEY want to determine to whom their money goes. Boy, I would like to decide that too! 4) Owning insurance companies that sell insurance to pay for death taxes is a definite conflict of interest. It behooves Buffett to keep the tax structure for estate/death taxes as high as possible, so that his companies can sell more insurance policies. 6) IF he thinks the tax rates are too low, there is NOTHING preventing him from paying more. He DOES NOT have the right to compel me to pay more, but has the right to pay as much as he wants to. Liberals always want to spend some one else's money, and then take credit..."look what I did for you".

[Linus]

I wonder, as Pat Buchanan so eloquently put it, why don't these ultra rich people just write the check? If they have all this money why don't they keep 250K a year and give the rest to old Uncle Sam?
I for one don't think we should keep giving more and more to a group of 545 people that hav for the past 50 years spent us into the poor house! And by the way, that 545 is the right and the left! So keep you stupid PC comments about me being a racist to yourself. There are plenty of crappy freeloading people in ever race. And no I do not support President Obama's ideas, not because he is half black or half white, I don't support them because I don't believe they are taking us in the right direction! And guess what? I bitched that GWB was selling the farm too! In my humble opinion, it's been a long time since any politician was in the game for the right reasons, or did the right thing!

[Casanova69]

Originally Posted by Wizard of Ahhhhs

Prosperity and equality for whom, the 50% who don't pay any taxes??

There are plenty of rich people that skip out on their taxes. Did you read about the IRS bust 2 years ago. They found loads of money in Swiss bank accounts. We need stricter tax laws, more brackets, and higher rates for rich people. In case you haven't noticed, this country's infrastructure is falling apart. We desperately need more revenues.