Thursday, February 16, 2012

Did Warren Buffet just destroy the Republican argument?

He stated that the GOP's idea that making the rich pay their fair share would hurt the economy is total BS....read it and weep Cons....and this is from the most successful investor in the countryDid Warren Buffet just destroy the Republican argument?
Yes - to anybody with any working brain cells, that is.

EDIT: I just read a couple of the other answers, and I've just got to comment on this little pearl: Where Reichtwingers whine about "redistribution of wealth" when anybody brings up the uber-wealthy paying their share of taxes.

??

Why don't these people scream about the REDISTRIBUTION OF WEALTH (as in being funneled to the top tier?) when the wealthy are paying LESS taxes than the lower and middle classes???

This is precisely what happened during the Reagan years. Where was the whining then? And it's happening NOW. The wealthy are paying the lowest taxes they've paid in 50 years for gods sake.
Glad you got owned by everyone who wasn't your 8 other accounts on here haha

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Did Warren Buffet just destroy the Republican argument?
Interesting, I don't see him writing any checks to the federal government.



He didn't "destroy an argument," just stated an opinion.



Even if you took a 100% on people making over $1 million (plus current tax rates for everyone below that), you're still $600-700 billion short of paying the budget. Still a massive deficit. Revenues aren't the problem, spending is. While I agree we should close tax loopholes, raising taxes on the super rich doesn't really solve anything.
It may not destroy the country, but it wouldn't help either. If you took 100% of the income from the millionaires and billionaires, it would barely put a dent in the national deficit. Its not a revenue problem. Its a spendng problem. You cannot spend 70% of GDP on debt. Raising taxes does not increase GDP, so taxing the rich isn't the answer!

Also, Buffet took advantage of tax laws and took deductions and credits. He wants to pay more, don't take deductions or credits. Thats up to him. Great to sound off, but he didn't put his money where his mouth is.

Lastly, Buffet doesn't pay income taxes like the rest of us. His taxes are mostly from capital gains, which are at 15%. Thats why his bill is so low. If you raise the capital gains, if you don't stifle investments, you will lower the profit for those who invest. All of us, not just the uber-rich.Did Warren Buffet just destroy the Republican argument?
no im sorry to tell you that warren buffet did not destroy the gop. i read what you said and i am not weeping. i hope warren gives the government all his money, he could get us out of this mess. so i say put up the money mr. buffet. we can no longer keep spending and spending and spending. so, put the money up for you are sooooooooo patriotic.
here`s the problem with Buffet`s statement,as you have posted it.....this may come as a surprise to warren,and obama,and all wealthy liberals who complain they do not pay enough taxes....their is no law that say`s any wealthy liberal must use all/or any lawful tax deductions in the tax code,they simply have to tell their accountants take my total earnings and pay the 35% rate,and take no deductions,and after that also send an extra check to the treasury for 25% more of my earnings as my fair share.it`s that simple congress does not need to make law demanding that the wealthy pay more..if any wealthy liberal like obama thinks he can and should pay more then you are free to pay all you want take no deductions,and just write a check for 25% above the 35% mandated by law,and on the comments part of your check write(my fair share) its that simple....whats holding warren up,come on warren write a check for an extra 25% its not against the law to send the government all the money you want,practice what you preach warren,write that check you to obama write that check.......
Billionaires mostly favor higher taxes, while millionaires are against them.



This is because billionaires have so much money that taxes don't matter a bit to them personally. But they want higher taxes to make it more difficult for others to reach their level.



Warren Buffet can say this because he has what i will call "screw you money."
Yes, he did.



He's also the guy who predicted the financial crisis in 2003: http://news.bbc.co.uk/2/hi/2817995.stm

Too bad nobody listened to him back then.

Maybe by now they'll have smartened up a little and pay attention this time.

But I doubt it.
Warren Buffet is a pretty charitable guy. Other billionaires would leave the country at the drop of a hat.
And just what reality is he in touch with? Certainly not the average tax-paying American.
He forgot to mention that unions and government regulation are destroying our industrial jobs
That idiot said that we should PRINT MONEY to pay the DEBT...



LOL

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