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Warren Buffett: Stop coddling the super rich

nytimes.com

181–190 of 354 posts

Re: Warren Buffett: Stop coddling the super rich

#182
Notice that Warren Buffett is asking for tax increases on those who make more than $1M and $10M respectively. I'm fine with this. He seems to "get", unlike so many Democrats, that $250k/year is not rich.

Where I get nervous is all the Democrats who seem to think that there is no difference between $250k and $1M/year and up. I get kind of ill seeing obscenely wealthy Democrats in Congress, almost all making MUCH more $250k, trying to lump my household in with the rich. I'm willing to pay more, but not if these wealthy Democrats won't create a distinction between $250k/year, $1M/year, and $10+M/year.

Re: Warren Buffett: Stop coddling the super rich

#183

All of the comments here attacking Warren Buffett's authenticity, suggesting that he should put his money where his mouth is and write the Treasury a big fat check, are missing the whole point. Services provided by the government are public goods. It's blindingly obvious that a single person cannot pay for those public goods. Just Buffett's own contributions, no matter how much he donates, will not be enough to solve…

Agreed. He's not trying to "make a donation", he's saying that everyone should share the burden - including himself and people like him.

It's not just that the rich kids should pay for the park, it's that everyone but the rich kids are being asked to pay some extra.

Re: Warren Buffett: Stop coddling the super rich

#185

Warren is omitting very crucial information and knowingly deceiving most people. He's pretending he doesn't pay very many taxes, but he does, he just pays different taxes. In this article he mentions capital gains, income, and payroll taxes but does not mention corporate income taxes. Corporate income taxes are taxes on the owners of corporations. I don't know exactly how much he paid, but some quick math I'd guess h…

It's hardly fair to Berkshire Hathaway's income as part of Buffet's personal income. Unlike his own, its money is not his to spend however he likes.

If Warren owned 100% of Berkshire would you still think it's unfair to consider what Berkshire pays in taxes a tax on Warren? Then why is it not fair to consider it on a percentage basis like I have?

The owners of corporations are the people being taxed by corporate income taxes, since without these taxes, that money would be theirs to spend as they wish, either by investing in their business or taking it out by paying dividends.

Re: Warren Buffett: Stop coddling the super rich

#186
post #22

The problem is getting low to middle income people to stop voting against themselves. Good luck with that, they all seem to think they are going to be billionaires someday so better keep those billionaire taxes low. Either that or by bribing the wealthy with low taxes they might only ship out half the jobs overseas instead of all of them. It's just dumbfounding. Election after election, over and over.

I keep trying to formulate my take on this, and failing, but here goes anyway:

The democratic party and American leftists no longer understand non-college working people and, for the most part, no longer reach out to them. Working people think that the left today advocates either for weirdos or for the completely screwed up, and wants everybody to pay for its programs to help said weirdos and fuckups. There is some valid reason for this impression, with the Great Society programs and affirmative action in the sixties and seventies being partly funded by taxes on the middle classes, along with fiascos like school bussing and over-compensated hiring practices screwing over people who didn't feel like they deserved it. (And poor management of government agencies making them ineffective at cost effective delivery of services.)

However, working people don't see themselves as fuckups (because they're not), and they don't have a lot of patience with weirdos. So they aren't going to feel comfortable with the gay marriage/ social worker part of the left (the old union guys were socially very conservative for the most part).

Also, most of the left today seems to me to be made up of people who really have no connection to actual poor working class people, so there is automatically a divide that is mobilized by the Karl Roves of the world.

Furthermore, if you have ever been lower middle class or "working poor", you learn early that very traditional personal character values can make the difference between you and your family living in a truly shitty situation or rising out of the muck around you to actually have a decent marriage/ nice friends/ safe home. So when college educated lefties come around and tell them to have pity on fuckups and weirdos because its society's fault, or that personal character and traditional values don't matter, any working class person is likely to tell them to go to hell.

So today's Republicans mobilize personal character rhetoric, traditionalism rhetoric, and the cultural non-understanding between leftist leadership and working people, and -- voila, working people voting against their own interests.

Until the left figures out the working classes again -- which means taking the time to show up in the middle of the country, go to church, eat ribs, etc, etc -- Capital will continue to screw everyone. So quit whining about how stupid working class people are -- nobody represents their interests today, neither left nor right, but at least the Republicans pretend.

Re: Warren Buffett: Stop coddling the super rich

#187
post #182

Notice that Warren Buffett is asking for tax increases on those who make more than $1M and $10M respectively. I'm fine with this. He seems to "get", unlike so many Democrats, that $250k/year is not rich. Where I get nervous is all the Democrats who seem to think that there is no difference between $250k and $1M/year and up. I get kind of ill seeing obscenely wealthy Democrats in Congress, almost all making MUCH more…

While I agree there's a big distinction between someone earning $250k/year and $10m/year, are you aware that if your family is earning that much then you're earning over eight times the median household income?

Re: Warren Buffett: Stop coddling the super rich

#188
post #172

Earlier quoted context omitted.

Amen to that. Why is it so hard for leftists to understand people voting for small government are voting in their own interest?

I didn't know the PATRIOT Act, all those porn scanners, Homeland Security, and decade-long wars were small government. Refresh for me again under what leadership all those started?

My memory is a little cloudy as well. Maybe you can tell me who continued all those things, and even extended them.

But I thought we were talking about economics.

Re: Warren Buffett: Stop coddling the super rich

#189
post #14

Voluntary gifts of money can be sent to the U.S. Treasury at this address: http://www.fms.treas.gov/faq/moretopics_gifts.html One has to ask, if any super rich person really considered the U.S. Government a worthwhile investment, why are they donating to various charities instead of to the Treasury?

It is a logical fallacy to equate the statement "I believe the rich should be obligated to pay more in taxes" to "I believe I alone should pay more in taxes."

How is it a logical fallacy?

If believe A should B I am A Therefore I believe I should B.

A = rich people B = pay more taxes

Re: Warren Buffett: Stop coddling the super rich

#190
post #182

Notice that Warren Buffett is asking for tax increases on those who make more than $1M and $10M respectively. I'm fine with this. He seems to "get", unlike so many Democrats, that $250k/year is not rich. Where I get nervous is all the Democrats who seem to think that there is no difference between $250k and $1M/year and up. I get kind of ill seeing obscenely wealthy Democrats in Congress, almost all making MUCH more…

Agree completely. I think the problem is that $250K is around that "top 1%" mark. It's a convenient demarcation line and makes for a smooth soundbite.

What many don't get is that the bottom of the top 1% includes doctors, attorneys, and entrepreneurs.

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