Warren Buffet....Shill in Chief

[Jackie S]

Ever been to one of those tent revival gatherings where the preacher will get everybody all in a frenzy, and some poor wretched soul on crutches will hobble up, and be healed. "Glory, I have seen the light and have been healed".

People fall for this old gimick, not knowing that all along, the so called "cripple" was all part of the show, or as we know them, a "shill".

The offerring plates get filled.

That is what Warren Buffet is to The President. "Glory, I am a wretched capitalist who has seen the devine light, and have recieved the healing. Here, Mr President, take ALL my money".

He knows after it is all said and done, he will not pay one more red cent to the Government. He is simply a "shill" used to entice others.

He is a shill, pretending to be healed by the devine power of more taxes and more government intrusion.

[Budman]

The funny thing is he owes taxes back to 2002. Apparently he has been fighting the the IRS over taxes for multiple years. Gee Warren, why not just pay whatever the goverment says you owe?

[TheDaliLama]

[Doove]

Originally Posted by Jackie S

He knows after it is all said and done, he will not pay one more red cent to the Government.

Unless you've reviewed his tax return, I'm guessing that's pretty much a lie. But that's par for the course, i suppose.

[pyramider]

His return is probably thicker than the Houston phone book.

[Jackie S]

I agree, it is probably so thick due to all of the pages and pages of deductions that he pays multitudes of accountants to come up with. Is anybody MAKING him take all of those deductions?

Of course, he could just fire all of those accountants, take his gross income from all sources, figure the top percentage he would owe for that particular earning, (earned, unearned, capitol gains etc), and write a check.

He could put it in one envelope.

Since I have no deductions what so ever, (I short form), why can't Warren do the same thing?

[WTF]

Originally Posted by Jackie S

Since I have no deductions what so ever, (I short form), why can't Warren do the same thing?

That is Buffets point Jackie.

They need to redo the tax code!

Buffet giving away all his money to the IRS would be like one person getting the polio vaccine. It would do no good. All folks need to step up to the plate and get their shot. Buffet knows that, Obama knows that...anyone with a sense of simple math knows we need to raise taxes and cut spending.

[Jackie S]

We do not need to raise the tax rate at all. We simply need to do away with all of the deductions that allow people like Warren Buffet to have an lower affective rate than his secretary.

I pay the max, and I get along ok. Why can't everyone?

Of course, I know the answer. We have an entire multi-billion dollar industry based on the current code and how to play it. This includes everything from your charitable deduction to your church, the home mortage deduction, and the billionaire's donating the new wing to the hospitol to

[WTF]

Originally Posted by Jackie S

We do not need to raise the tax rate at all. We simply need to do away with all of the deductions that allow people like Warren Buffet to have an lower affective rate than his secretary.

I pay the max, and I get along ok. Why can't everyone?

Well then, you, me and Buffet are saying the same thing.

Originally Posted by WTF

That is Buffets point Jackie.

They need to redo the tax code!

.

[budman33]

yea for an anti Buffet thread, you agree with what he's saying. You just don't think he'll pay up... I don't think any of them will. But there will be a jobs gain and an economic boost for all the accountants who will be hired and burning the midnight oil to work around this even if the GOP were to let it happen, which they won't.

Affects too many lobbiests to ever fly in DC. Even if its the right thing to do which it is.

[Old-T]

Originally Posted by Jackie S

Since I have no deductions what so ever, (I short form), why can't Warren do the same thing?

Is that similar to "I'm stupid and don't make much so I have time to gripe and complain on boards like this all day, why can't everyone do the same thing?"

Let's see: More credibility in an economic discussion:

A) Someone who HAS demonstrated he can make the big $ and is standing up to say the rules are unfair in his direction so they should be changed

B) Someone who admits he has not done the best economically

Sorry, I think you lose the credibility argument here.

PS: Budman, can't you see the difference between someone standing on a principle vs commenting only on his personal situation? I thought that's what ultraconservatives were all about, principle? Have you seen his tax returns? No, but you are willing to declair him a thief without seeing the evidence. Nice of you.

[Old-T]

Originally Posted by Jackie S

We do not need to raise the tax rate at all. We simply need to do away with all of the deductions that allow people like Warren Buffet to have an lower affective rate than his secretary.

I pay the max, and I get along ok. Why can't everyone?

Of course, I know the answer. We have an entire multi-billion dollar industry based on the current code and how to play it. This includes everything from your charitable deduction to your church, the home mortage deduction, and the billionaire's donating the new wing to the hospitol to

I agree in theory, but the devil is in the details. There would have to be a transitioning period or all hell would fall on some peoples' heads: for example those who bougth houses with mortgages based upon the current tax code. Remove home mortgage deductions and those people can no longer afford their homes. More foreclosures. Housing market dives again. Not a very stimulating thought.

So the question becomes how to extract ourselves from many years of an ecomomy that has worked one way and now we want to seriously change the rules. Not easy if you actually care about the people you would screw over. If you don't, then yes, it's easy.

Just decree all mortgages after a certain date are not tax deductable? That doesn't hurt individuals but still is likely to tank the price of houses (which in many places is overinflated) which does cause major economic ripples. In the long run likely good, but in the short run it ruins a lot of people.

[Budman]

Originally Posted by Old-T

PS: Budman, can't you see the difference between someone standing on a principle vs commenting only on his personal situation? I thought that's what ultraconservatives were all about, principle? Have you seen his tax returns? No, but you are willing to declair him a thief without seeing the evidence. Nice of you.

Please point out where I called him a thief? I pointed out that he is fighting over paying taxes back to 2002. That's a fucking fact. I don't blame him for using every possible deduction available but don't tell the country how unfair it is. He can always pay extra if he is so inclined or he could just pay what the IRS claims he owes.

You called Jackie stupid because he is not as successful as some. I doubt you know what his economic situation is but you have deemed his opinion stupid and Buffet's opinion the only right thing to do because he has made a boatload of money. If that is your criteria for determining credibility there are plenty of very wealthy people that disagree with Buffet. In fact I would bet there are many more wealthy people who disagree with him than agree.

[TheDaliLama]

I think we should put Warren Buffet and Donald Trump into a UFC style death match and see who comes out.

My money is on Trump.

[WTF]

Originally Posted by TheDaliLama

I think we should put Warren Buffet and Donald Trump into a UFC style death match and see who comes out.

My money is on Trump.

Just two days after Warren Buffett wrote an op-ed for the New York Times urging politicians in Washington to raise taxes on the "mega-rich," Donald Trump - business mogul and perennial potential future presidential candidate - said he'd also be willing to have his tax rates raised. But he says an increase wouldn't fly with the super-wealthy on Wall Street.