Pat Buchanan Challenges Warren Buffett: 'Set an Example and Send a Check for $5 Billion to the Federal Government'
The liberal media are predictably fawning over billionaire Warren Buffett's op-ed in the New York Times Monday calling for new taxes on the super-rich.
This led MSNBC's Pat Buchanan on Monday's "Morning Joe" to challenge the Oracle of Omaha asking, "Why doesn’t he set an example and send a check for $5 billion to the federal government?" (video follows with transcript and commentary):
PAT BUCHANAN: No, I’m writing a note to Warren Buffett. But look, I’m a little fed up with these people who come on, you know, their big op-eds, all these admonitions. Why doesn’t he set an example and send a check for $5 billion to the federal government? He’s got about $40 billion. You know, you had a plan up there, I talked to Howie Carr at Boston where the super-rich could contribute an extra amount. It was something like one-tenth of one percent did it. You get all this noise from these big rich folks. Let them send checks and set an example instead of writing op-eds.
Indeed.
Of course, the liberals in the media never seem to think about this hypocrisy.
The folks at the Huffington Post were so excited about Buffett's call they featured it as a headline at their front page:
Yahoo also had it featured prominently on its front page:
Why doesn't every outlet that likes this idea follow Buchanan's lead and challenge Buffett to put his money where his mouth is and send the federal government a nice fat check?
Suggested reading:
- Noel Sheppard's blog
- Login to post comments
Comments
Let's tax everyone, equally, even the poor.
Submitted by Red Jeep on Mon, 08/15/2011 - 9:15am.
Flat tax for all.
And cut ALL welfare
Submitted by gr29az on Mon, 08/15/2011 - 9:21am.
And cut ALL welfare 10%.
Since when are cell phones, cable tv and big screens a right?
You're such a hater.
Submitted by WhoIsJohnGalt on Mon, 08/15/2011 - 9:47am.
How dare you refuse decent, upstanding citizens the same basic human rights that you enjoy!
/sarc off/
"Since when are cell phones,
Submitted by freedom-rings on Mon, 08/15/2011 - 7:11pm.
"Since when are cell phones, cable tv and big screens a right?" The right to survive, not the right to be coddled with the newest technological entertainment.
Answer:
Submitted by russedav on Mon, 08/15/2011 - 10:59am.
In Demonc rap Bizarro world!
The poor?
Submitted by KyWriter on Mon, 08/15/2011 - 9:54am.
You mean the poor souls that have to endure foodstamps, free rent, free cellphones, free cable, free medical care, free dental, free vision, SSI and Earned Income Credit? How cruel of you.
consumer tax. You buy it, you
Submitted by Zippy on Mon, 08/15/2011 - 6:04pm.
consumer tax.
You buy it, you pay. Totally democratic and all.
And Execute all Business in the USA
Submitted by scottyusmc on Mon, 08/15/2011 - 9:22am.
He should bring all his foreign investments back to the US and cover all the costs of labor in a US market. Same should go for General Electric. They talk the talk, but never seem to walk the walk...
How about GE's ZERO tax bill?
Submitted by Red Jeep on Mon, 08/15/2011 - 9:37am.
"General Electric Paid No Federal Taxes in 2010" http://abcnews.go.com/Politics/general-electric-paid-federal-taxes-2010/...
Not only should he send a
Submitted by eaglewingz08 on Mon, 08/15/2011 - 9:22am.
Not only should he send a check for five billion but he should dissolve his foundation where he shelters his wealth, and should take the assets as ordinary income. Then he change from being the huge despicable hypocrite of the last decade.
So let's see
Submitted by IgnatzJFahrquar on Mon, 08/15/2011 - 9:28am.
The "rich" are the ones owning the businesses and out of the goodness of their hearts, they won't pass the increase on to the consumers? Ahhhh, yeah, right.
It's worse than that...
Submitted by retrocon on Mon, 08/15/2011 - 3:36pm.
It's worse than that, Iggy...
You are correct, it never comes out of "their" pockets, since they get their money from the consumers.
But here's the dirty little secret of the "super rich" like Buffet...
Oppressive taxation and regulation do not hurt them, it helps them get bigger! Seriously, it's the small and medium size businesses and entrepaneurs that are harmed. Taxation and regulation are barriers to both growth and entry into markets, thus making the smaller players shrink, go away, or not enter, and making the biggest players get even BIGGER.
Buffet stands to gain with less competition from smaller companies, or competition less able to develop, invest, and grow. So, sure, he says "tax us more."
He's really saying "Since nothing you can do will seriously harm me, please help me by taxing my smaller competition out of business"
Tax the jerks who got the bailouts
Submitted by Vonu on Mon, 08/15/2011 - 9:30am.
Buffett and Munger lead that parade. Suck it chumps.
Let's stop the liberal tripe
Submitted by TheHistorian on Mon, 08/15/2011 - 11:11am.
Why the hate? You are no different than Jer and his ilk who want to raise taxes out of envy. The difference is that you know you cannot tax your way out of the Obama economy. Let's drop the stupid talk about raising taxes on someone with whom you disagree or took advantage of the code. However, if you commit fraud and owe taxes, to prison you should go. Right, TurboTax Tim and Cheatin' Charlie Rangel?
However, nothing stopping anyone from contributing. That is fair to request.
We need to revise the tax code so that you pay taxes regardless as an individual and not as a corporation. We force tax collection for the liberal showcases of Medicare and Social Security, so let's force all into the 10% bracket. Unless you have skin in the game, you will vote to be exempt from the rules.
Dennis Prager
Hmm...
Submitted by retrocon on Mon, 08/15/2011 - 3:41pm.
i wouldn't equate what Vonu said to Jer or any other liberal class hatred.
I read Vonu's statement to be that the same folks screaming "tax us more," are the same ones taking bailout money from the taxpayers.
Sort of like the whole public sector union thing... unions get politicians to give more to union members, union members give more to unions, unions give more to their bought and paid for politicians, unions get their politicians to give more to union members...
Not only should Buffet send
Submitted by ForeverOnTheRight on Mon, 08/15/2011 - 9:30am.
Not only should Buffet send in a nice big fat check, but also all those other rich lliberals in congress and elsewhere who call for taxing the rich. Maybe it would put a dent in the Obama/Democrat deficit.
Let's not forget
Submitted by katiejane on Mon, 08/15/2011 - 10:03am.
all the BHLs in Hollywood who bemoan how hateful all the regular people are towards the "poor." The next time one of them gets some multi-million dollar movie deal or s digit per series episode seal they should be sending the feds a nice sizable check. Oops - I almost forgot all the musicians - they could all kick in plenty also.
YAY!!
Submitted by motherbelt on Mon, 08/15/2011 - 9:30am.
Bravo Pat, for saying it out loud!!
The Marxist billionaire doesn't believe in "from each according to his ability" (my emphasis), he only believes in "from everyone."
He's not about to chip in even an extra dime until everyone else is also forced to.
Ditto
Submitted by jon_torlin on Mon, 08/15/2011 - 9:38am.
I got the impression that when Buffett was saying he didn't need it and to go ahead and tax him, I kept thinking about why he doesn't actually do it voluntarily, and that's the magic word that struck me, he doesn't want to give it, but he's got no problem with doing it at the point of a virtual gun.
What kind of twisted mind does this rich dude have??
-Jon
Jon, Buffett was on CNBC
Submitted by ThisnThat on Mon, 08/15/2011 - 12:19pm.
Jon, Buffett was on CNBC about a month ago, in Colorado I believe, where he was espousing this same BS. Finally, he was asked that exact question -- "Why don't you just send in a check?" His answer -- "because people have to be forced to do that". That was such a lame answer, and of course there was no follow-up, like "Why does a man like Buffett have to be forced to do what he thinks is the right thing to do?"
__________
“Didn't win the Medal of Honor? Didn't even serve? Then lie about it. We'll support you." — 9th Circuit Court
Makes my head hurt
Submitted by jon_torlin on Mon, 08/15/2011 - 12:37pm.
I had no idea about that one interview, but yeah, that's exactly the thing to ask.
That's why I asked what kind of twisted mind he has. And to be honest, it brings credibility into question about how he got his fortune or at least his comments and otherwise that he gives people when he's taking part in these interviews. One would have to assume that he's not right in the head thinking this way. I wouldn't consider Buffett a leader of any kind.
Which makes him a liberal. Oddly enough, we already know that liberals like to be dominated(not with whips, mind you) and told what to do. He should not be looked on as someone who knows what he's talking about.
-Jon
It's easy
Submitted by retrocon on Mon, 08/15/2011 - 5:35pm.
ThisNThat... it's really easy, he doesn't want you to force him, he wants you to force EVERYONE.
That way, as the biggest fish, he suffers the least. And actually benefits. Below a certain threshold, his competitors will be forced out of business, or at least, will not be able to compete as well. He actually gets to be a bigger "biggest" fish.
But if he gave it away without being one of those "forced" to do so, his position as biggest fish would be in jeapardy.
Buffet
Submitted by Redrowan2000 on Mon, 08/15/2011 - 8:19pm.
Contributes as we all know to private charities over and above the norm. He was asked during that same interview on CNBC why he didn't just give it to the government rather then to private charities. The answer almost sounded as if the government would waste the money whereas the private charities he contributed to he knew well and had faith in their fiscal responsibility. Buffet worked for what he got and he can do what he wants with it, hell he can even have an opinion on taxing the wealthy, but that doesn't make him right.
"Don't let the bastards grind you down."
I highly doubt it.
Submitted by panzerakc on Mon, 08/15/2011 - 3:33pm.
"He's not about to chip in even an extra dime until everyone else is also forced to."
Even if everyone else was forced to, I'm guessing he'd have an army of bean counters to ferret out any and all ways to avoid paying taxes - tax shelter, deductions, write-offs, etc.
That's right motherbelt,
Submitted by rockyracoon on Tue, 08/16/2011 - 1:33am.
That's right motherbelt, Warren ain't jumpin into that pool alone
Facts are like kryptonite to the liberal.
Exactly right, as opposed to
Submitted by Barack Must Go on Mon, 08/15/2011 - 9:40am.
Exactly right, as opposed to left. Warren ought to stop BUFF-ett-ING the knob and give till it hurts if he wants to. Other than that he should sit down & shut the heck up.
He talks the left wing bullcrap bomb thrower talk alright, but apparently he can't walk the accompanying walk to save his crabby old life.
Another thing
Submitted by octavioj on Mon, 08/15/2011 - 9:42am.
Why is he then not telling his lawyers and accountants not to take advantage of the "loopholes" to lower his tax liabilities?
Buffett is Just Pimping Obama
Submitted by Motormouth KOS on Mon, 08/15/2011 - 9:53am.
He loves President Downgrade because the dopey bozo isn't smart enough to figure out that he is being played by a hard-core capitalist. So Buffett runs around begging to be taxed more, when he knows that his stable of tax attorneys will simply find another loophole for him to slime his way through.
This is classic double-speak. And the Village Idiot, AKA Barry the Wonder-Gerbil isn't smart enough to figure out that he is being played.
Prediction: Jay Cornhole will be quoting this line before the day is out, saying the following...
"See, even the mighty and powerful Warren Buffet thinks the rich ought to pay more...!"
These clowns are so transparent...
The Obamination... A crisis leading to a catastrophe..(please donate to MRC)
Precisely
Submitted by Utherpend on Mon, 08/15/2011 - 1:06pm.
That was my thought when I heard this BS, basically he is not afraid of any tax because like GE he has thousands of tax attourneys to get him out of paying anything no matter what they pass.
And...
Submitted by retrocon on Mon, 08/15/2011 - 6:06pm.
again, Buffet and GE love new taxes, besides shielding themselves, they know it hurts little guys more, widens the gap, effectively makes them more like a monopoly because taxes and regs impair entry and growth for smaller businesses.
How about 10% tax for all! NO deductions!
Submitted by Woodoggie on Mon, 08/15/2011 - 10:19am.
And since corporations are people too.......the first 30K can even be exempt!
The key is NO additional deductions, and no exempt income, not for me, not for you!
All I ask of living is to have no chains on me,
And all I ask of dying is to go naturally.
Blood, Sweat, and Tears
The House Should Call Buffett's Bluff
Submitted by libBuster on Mon, 08/15/2011 - 10:18am.
Since Buffett has decided to become a tool of the progressive left, there is no reason for the House not to call him out. I propose that the House enact a law allowing citizens like Buffet to make a one time irrevocable election to pay a marginal flat tax rate of 60% with no deductions allowed. Tax rates remain the same if the election is not taken..
Such a law would left Buffet pay his fair share and assuage his conscience.
Here's the address, Mr. Buffett
Submitted by locomotivebreath1901 on Mon, 08/15/2011 - 10:19am.
Anyone can donate money by sending a check to:
Gifts to the United States
U.S. Department of the Treasury
Credit Accounting Branch
3700 East-West Highway, Room 622D
Hyattsville, MD 20782
The money will go to the general fund.
Lede by example, Mr. Buffett, and maybe I won't consider this drivel spewing out of your mouth to be nothing more than Obama boot licking propaganda.
I saw this one this a.m.
Submitted by marpel on Mon, 08/15/2011 - 10:22am.
I saw this one this a.m. When they were reading Warren's article, I was thinking the same thing...just send a separate check if you want to pay more taxes. Then Pat said it...made my morning.
Very rare that I agree w/ anything coming from the Morning Joe show. But, then, Mika and Joe aren't there this week. I may watch everyday because I won't have to listen to them. LOL
"Deep within my heart lies a memory. A song of ol' San Antone..."
Warren is not the first..
Submitted by inquiringmind on Mon, 08/15/2011 - 10:38am.
Warren is not the first wealthy person to make this statement about raising taxes. They can say this knowing they will never pay any significant amount in taxes more than they are now. How? By using tax shelters, Personal Foundations, and large business ventures/investments, all of wich are tax deductable.
This is how he can pay a lower percentage of taxes than his secretary as he is so ready to claim.
YES if I had my way
Submitted by OldJarhead77 on Mon, 08/15/2011 - 10:55am.
Public housing would be like this:
1. NO DRUGS... (You will be randomly tested Failure of the Drug test will mean EVICTION)
2. NO SMOKING (Smoking Cessation classes will be mandatory)
3. NO ALCHOL (VIOLATORS WILL BE FACE EVICTION)
4 ALL UNITS HAVE BEEN FURNISHED YOU WILL NOT ADD OR SUBRACT FROM THE INVENTORY OF YOUR UNIT DAMAGE TO THE UNIT OR THE FURNITURE IN THE UNIT WILL LEAD TO EVICTION! (NO LARGE SCREEN TELEVISIONS LOUD STEREOS)
5. NO CABLE WILL BE INSTALLED
6 CHILD CARE WILL BE PROVIDED IF YOU ARE IN A JOB TRAINING CLASS PROVIDED BY THE UNIT.
7. ONCE YOU HAVE A JOB YOU HAVE 180 DAYS TO CLEAR YOUR UNIT AND MOVE OUT
If it's good enough for our troops
Submitted by mom_rox on Mon, 08/15/2011 - 12:31pm.
Your post reminds of another post (perhaps on NB?) which suggested using old military bases as public housing.
You forgot one.
Submitted by E.S.Blofeld on Mon, 08/15/2011 - 12:34pm.
"NO SEX."
Ernst
"Isn't it pretty to think that way?"-EH
Someone posed this question to Buffett a few weeks ago.
Submitted by Newsbubba on Mon, 08/15/2011 - 11:09am.
I thought his answer was telling.
They asked why not just take some of the money that you give to charities and tax free foundations that you control, and send it to the government.
His answer was that the government wouldn't spend the money as "wisely" as he does! He said that they would "waste it." So basically the bastard pays nothing to the government because he gives so much to his charities, because he is so much smarter than they are.
Yet this old fart wants all the rest of us taxed MORE so that someone who isn't as "smart as he is" can pi$$ away more of our money?
Yeah, that sounds like a plan to me.
Yo! Oracle of Omaha!
Submitted by Wildcatter1980 on Mon, 08/15/2011 - 11:12am.
If you do not want your money, you can send me a money order for $1 billion! I will make much better use of it than the government ever will. Just stop calling for raising taxes on "the rich"--and everyone else, too.
--
If you want to know what liberal secular progressives are really doing, just listen to what they are accusing others of.
Recommended reading: Liberal Fascism by Jonah Goldberg
Any kind of income tax is straight out of the Marxist handbook
Submitted by Dave. on Mon, 08/15/2011 - 11:12am.
Time to get rid of the most hideous, regressive, punitive tax there is once and for all.
And don't tell me that government needs to reach into our pockets because it needs the money.
The government could save itself (that would be us) billions upon billions if it woud get rid of the things not constitutionally authorized.
And they can start right here with this illegal BS.
-Dave
Vote for the American in November
You slipped a comma....
Submitted by c5then on Mon, 08/15/2011 - 11:20am.
If the Federal Government eliminated all it does that is not constitutionally authorized, it would save AT LEAST $1 trillion per year. Simply go the the budget web site and look at the 2009 budget (the last year there actually was a budget). Add up the amounts for the following: Dept. of Ed, Dept Energy, Dept. HHS, FAA, Dept. Labor, NEA, CPB, NSF, DEA, ATF...
Madison and Jefferson and Franklin built a Republic - Roberts killed it!
You hit it...
Submitted by retrocon on Mon, 08/15/2011 - 6:13pm.
it's ain't about the money, it's about the control over our lives.
All those "loopholes" are social engineering projects, the governments way use tax law to make us do things we wouldn't otherwise do.
If income tax is not flat, it is, by definition, "not fair." You can't say "i'll take 10% from you, and 20% from you," and say that's fair. Neither can you say "you can pay less taxes if you buy a greenie mobile over an SUV." I may need an SUV, so it's not fair that your "needs" get you a lower tax.
Why not just say "if you are an illegal alien, you can work freely, take government assistance, enjoy priviledges of citizenship, but not pay any taxes!" Would that be... oh, wait, we're doing that?
nevermind.
retro, You are exactly right
Submitted by Dave. on Mon, 08/15/2011 - 6:27pm.
And what frustrates me to no end is that so many conservatives don't seem to "get it."
-Dave
Vote for the American in November
The fix is easy...
Submitted by c5then on Mon, 08/15/2011 - 11:14am.
Eliminate the income tax for everybody and institute a national sales tax. Those who buy the most will pay more taxes than those who buy little. Everybody gets to keep 100% of what they make.
It is only the artificail "class" distinctions that are caused by the progressive income tax and the statisticians in the government that cause these false battles. Without the income tax, everybody simply becomes a citizen and it will be easier for the government to treat them all the same.
Madison and Jefferson and Franklin built a Republic - Roberts killed it!
like all liberals
Submitted by ohio granny on Mon, 08/15/2011 - 11:18am.
He is no different than any other liberal. They NEVER put their money where their mouths are. Everyone with an eighth grade education knows you can send the feds more money than you owe and they will gladly accept it. I am no fan of Buchanan but in this case I totally agree with him.
Buffet is the epitome of liberals/dems, all talk and no show. Dispicable all of them. Liars, cheats, crooks and hypocrites. And that is the best that can be said for them.
I remember Bill Clinton
Submitted by misterbee241 on Mon, 08/15/2011 - 12:24pm.
and Obama complaining about all the extra money they had in tax refunds and did not need. But never did i see either one of them call a press conference and give their money to the government. That's what they want us to do. It's people like them and Buffet that makes me want to see the government strip them of everything they have. Then they'll find out how the real world works.
what a guy
Submitted by Kuso Jiji on Mon, 08/15/2011 - 11:17am.
when buffet says tax the rich, he is talking about you and i who are working longer and harder to meet our current tax obligations.
I'm a Conservative, but...
Submitted by awenger_md on Mon, 08/15/2011 - 11:26am.
I can follow some of Buffets reasoning for increased taxes. While I generally think Capital Gains is best taxed at a reduced rate, I have considered that many of the super rich make most of their money that way and it doesn't seem right that they end up with lower overall tax rates than ordinary wage earners. I think there is a simply change that can be made to accomodate this even withing the existing tax code framework. Simply begin taxing short term capital gains (< 1 year, perhaps?) as ordinary income. However, I am also a proponent of indexing multi-year Capital Gains to inflation (as well as interest and other gains - why should the Gov't be able to tax financial increases due to inflation? This would also create a disincentive for the Gov't to inflate their way out of financial difficulties). BTW, I am generally a proponent of a flat tax that allows generous personal exemptions and perhaps charitable or other deductions so the poorest of the poor don't have to take unseemly hits via the tax code (and everybody would get the personal exemptions...so it's not really 'unfair' - plus charitable deductions would be available so EVERYONE could take them). However, I don't see the elimination of some form of progressive tax structure in the foreseeable future and this idea of taxing Capital Gains as ordinary income will even work under the current code.
Long term capital gains are
Submitted by MikeB on Mon, 08/15/2011 - 1:11pm.
Long term capital gains are taxed as ordinary income. Short term capital gains are taxed at a higher rate. It should be noted that capital gains are taxed only when they are "realized", the same way that losses are allowed as a deduction only if actual loss occurs instead of a loss on paper. One must sell the asset that has gained or lost value before it can be taxed.
Per some other posts about fair taxation: the truly fair tax would be a per capita tax, as all inhabitants, citizen or alien, benefit from services the government provides. The only trouble with that is not very many can afford to pay their "fair share", as the amount per capita is more than most people make in a year. The next most fair would be a flat tax from dollar one with no deductions. That way, everyone would pay the same rate and the rich would still subsidize the poor. The least fair tax would be the "Fair Tax" or national sales tax, as the poor pay a higher percentage of their income for basics. Thus the "Fair Tax" is a regressive tax. The current income tax system is called a "progressive" tax, and is a darling of the left. The Communist Manifesto demands a progressive and confiscatory tax on the "bourgeoisie" class ... in other words, the "rich" that Obama likes to vilify.
dupe
Submitted by ckc1227 on Mon, 08/15/2011 - 4:44pm.
dupe
Why isn't it right?
Submitted by ckc1227 on Mon, 08/15/2011 - 4:46pm.
"While I generally think Capital Gains is best taxed at a reduced rate, I have considered that many of the super rich make most of their money that way and it doesn't seem right that they end up with lower overall tax rates than ordinary wage earners."
Ahh, so if it were the middle class making most of their money that way, it would be ok then?
What's not right about it? No one is forced to work for an "ordinary wage". There's nothing stopping these ordinary wage earners from taking the same route these other folks took and earning a living via investment income. That's like saying it's not right that someone who graduated from college makes more than someone who chose to be a high school dropout.
If you want to do it, you can make most of your money via investment income too, and then you can enjoy the capital gains tax rate as well. No one is stopping you. And for the record, I'm not one of the super rich, but I sell investments from time to time. I don't want to pay a higher capital gains tax when I do.
Short term vs Long term
Submitted by jpwcpa on Mon, 08/15/2011 - 5:35pm.
Generally speaking, short term capital gains are taxed at whatever tax bracket you find yourself in, up to and including the highest tax bracket of 35 percent. Long term capital gains are taxed at no more than 15 percent, regardless of what tax bracket you are in, although the gains can be subject to a rate of 25 percent or even 28 percent depending on what was sold. Legislation signed by Obama in December of last year is slated to raise the 15 percent top capital gains rate to 20 percent after 2012.
Obama's Approval Levels Still Way Too High.
Submitted by Avitar on Mon, 08/15/2011 - 11:28am.
Obama ran for office sponsored by a group of interests who are counter to the interests of the United States. The future welfare of the United states depends an tearing out the changes of the last three years by the roots.
The interest of the country are best served by it becoming socially unacceptable to be a Democrat, a liberal or a progressive. The Republican Party can then split into the healthy Libertarian and activist international / comercial factions.
Perhaps a One Dollar One Vote Pole Tax Pundent King?
Submitted by Avitar on Mon, 08/15/2011 - 11:36am.
As long as he wants to give it to the Government perhaps an honorary tit;e of King of Pundents could be sold off each year to raise money. That way George Soros and Warren Buffet could go buy an election without hurting the country.
I'm a Conservative, but...
Submitted by awenger_md on Mon, 08/15/2011 - 11:38am.
I can follow some of Buffets reasoning for increased taxes. While I generally think Capital Gains is best taxed at a reduced rate, I have considered that many of the super rich make most of their money that way and it doesn't seem right that they end up with lower overall tax rates than ordinary wage earners. I think there is a simply change that can be made to accomodate this even within the existing tax code framework or even a future 'flat tax' framework. Simply begin taxing short term capital gains (< 1 year, perhaps?) as ordinary income. However, I am also a proponent of indexing multi-year Capital Gains to inflation (as well as interest, even single year interest income - why should the Gov't be able to tax financial increases that are due to inflation? Indexing these gains to inflation would create a disincentive for the Gov't to inflate their way out of financial difficulties). Allowing some form of income averaging could also take some of the sting out of someone experiencing a one time windfall and Capital losses could be allowed to offset Captial Gains. BTW, I am generally a proponent of a flat tax that allows generous personal exemptions and perhaps charitable or other deductions so the poorest of the poor don't have to take unseemly hits via the tax code (and everybody would get the personal exemptions...so it's not really 'unfair' - plus charitable deductions or perhaps other exemptions would be available so EVERYONE could take them). However, I don't see the elimination of some form of progressive tax structure in the foreseeable future and this idea of taxing Capital Gains as ordinary income will work under the current code and cause some of the super rich to pay the same tax rates as the rest of us.
Ooops,
Submitted by awenger_md on Mon, 08/15/2011 - 11:40am.
Sorry I apparently posted when I first previewed my comment, leading to a double post. Sorry
The problem here is...
Submitted by Suilbup on Mon, 08/15/2011 - 11:45am.
The problem here is the rich. They control the things that they own. Obama and I are on a mission to make sure that "we the people" control the wealth. We have to "spread it around" and make sure that everyone has "skin in the game."
Only when we all own everything will everything be equal. This is NOT like communism. You just have to trust me here. It's not communism or socialism - mostly because Obama and I say it's not. It's a new transformation of American society. It's NOT a transformation away from individual rights. Individuals will still have plenty of rights. The right to get food stamp for example will be inviolate. The right to make a lot of money on the other hand.... well, Obama and I both believe, "there's a point where you've made enough money." And it is the government's job to tell you when you've hit that point. It's right there in the Consitution. It's right after the Consitutionally protected right to a free abortion.
Get it?
If Bufffet wants to
Submitted by misterbee241 on Mon, 08/15/2011 - 12:17pm.
pay the government, why doesnt he turn over his fortune and his assets to the government and he can live on a small stipend? I'm sure Buffet became a gazillionaire by thinking like that. This is all PR. Buffet didnt get rich paying taxes. He doesnt want to pay anymore in taxes than I do. He knows he is safe from any meaningful tax reform. And we know he wont write one red penny extra to the government. Liberals are hypocrites, but they seem ok with that.
Buffet and the rest of 'em.
Submitted by E.S.Blofeld on Mon, 08/15/2011 - 12:38pm.
They can say "Raise my taxes!".
They can plaster the airwaves with "Raise my taxes!".
They can erect signs with "Raise my taxes!."
They can do this with impunity knowing full well nothing will ever happen to their money.
Ernst
"Isn't it pretty to think that way?"-EH
All you can eat Buffet
Submitted by Red Ruffansore on Mon, 08/15/2011 - 1:27pm.
Since we're on the subject of eating the rich and leveling that playing field Warren, perhaps you would consider giving every boy in high school who can't afford a corvette a babe mobile. When your son pulled up in front of school in his vette, I was never jealous of him personally but I simply wished I could afford one. Thank you for the lesson in class warfare. When you have the time Warren, please get me a 1969 or 1970 vette and while I do prefer big block a small block will be fine.
Class of 74, Central High. Thanks buddy, oh and make mine red.
I can't believe it's taken so
Submitted by Rusty Shackleford on Mon, 08/15/2011 - 1:35pm.
I can't believe it's taken so long for someone to say this on TV. What makes this even doubly shocking is that it was said on MSNBC.
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Chris Matthews: The Joy Behar of MSNBC.
Bill Maher: The Joy Behar of HBO.
Paul Krugman: The Joy Behar of The New York Times.
More taxes incourages overspending , and government waste.
Submitted by American Man on Mon, 08/15/2011 - 1:39pm.
Buffet feels guilty about not paying enough taxes ? This sounds like Warren giving Obama a public endorsement to get more taxes in to spend in the wrong and wasteful way . This system of Kynesian economics of the government priming the pump with lots of money doesn't work.
If Buffet, was interested in turning this economy around he would take that 5 billion dollars and be a real capitalist and start a business incubator to start thousands of new companies that would start and hiring thousands of new jobs.
The government knows only how to spend one time money ,which improves a worn out infrastructure and that's the end, which is totally wasteful and dumb.
Why would someone who knows all about investment perpetuity , meaning that the investment keeps working on it's own to keep bring in a profit stream.
The government body has the ability to legislate with out cost INCENTIVE POLICIES that would cause all the corporations that are hording money in banks to develop new jobs. Without loophole policies, law makers could create incentive for US corporations to hire US employees to equal 80% of their total force in exchange for a lower tax rate.
The government body can let corporations write off investment costs in the US in a very short period, not over long periods as they allow now.
It's not the rich being bad, or selfish, but the governments law guiding this outcome to occur!!
Everyone taxed to death, with NO Fiscal RESPONSIBILITY !!
Submitted by American Man on Mon, 08/15/2011 - 1:44pm.
Subj: Fwd: : INTERESTING: Can you spell 'politicians'?
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This is a very thoughtful look at our current national problem. It is unbiased and really cuts to the core. Read it to the end.
Food for thought!
Subject: CHARLIE REESE'S FINAL COLUMN A GREAT READ!!!!!
Charley Reese's Final column!
A very interesting column.. COMPLETELY NEUTRAL
Be sure to Read the Poem at the end.
Charley Reese's final column for the Orlando Sentinel...
He has been a journalist for 49 years.
He is retiring and this is HIS LAST COLUMN.
Be sure to read the Tax List at the end.
This is about as clear and easy to understand as it can be. The article below is completely neutral, neither anti-republican or democrat. Charlie Reese, a retired reporter for the Orlando Sentinel, has hit the nail directly on the head, defining clearly who it is that in the final analysis must assume responsibility for the judgments made that impact each one of us every day. It's a short but good read. Worth the time. Worth remembering!
545 vs. 300,000,000 People
-By Charlie Reese
Politicians are the only people in the world who create problems and then campaign against them.
Have you ever wondered, if both the Democrats and the Republicans are against deficits, WHY do we have deficits?
Have you ever wondered, if all the politicians are against inflation and high taxes, WHY do we have inflation and high taxes?
You and I don't propose a federal budget. The President does.
You and I don't have the Constitutional authority to vote on appropriations. The House of Representatives does.
You and I don't write the tax code, Congress does.
You and I don't set fiscal policy, Congress does.
You and I don't control monetary policy, the Federal Reserve Bank does.
One hundred senators, 435 congressmen, one President, and nine Supreme Court justices equates to 545 human beings out of the 300 million are directly, legally, morally, and individually responsible for the domestic problems that plague this country.
I excluded the members of the Federal Reserve Board because that problem was created by the Congress. In 1913, Congress delegated its Constitutional duty to provide a sound currency to a federally chartered, but private, central bank.
I excluded all the special interests and lobbyists for a sound reason. They have no legal authority. They have no ability to coerce a senator, a congressman, or a President to do one cotton-picking thing. I don't care if they offer a politician $1 million dollars in cash. The politician has the power to accept or reject it. No matter what the lobbyist promises, it is the legislator's responsibility to determine how he votes.
Those 545 human beings spend much of their energy convincing you that what they did is not their fault. They cooperate in this common con regardless of party.
What separates a politician from a normal human being is an excessive amount of gall. No normal human being would have the gall of a Speaker, who stood up and criticized the President for creating deficits. The President can only propose a budget. He cannot force the Congress to accept it.
The Constitution, which is the supreme law of the land, gives sole responsibility to the House of Representatives for originating and approving appropriations and taxes. Who is the speaker of the House? John Boehner. He is the leader of the majority party. He and fellow House members, not the President, can approve any budget they want. If the President vetoes it, they can pass it over his veto if they agree to.
It seems inconceivable to me that a nation of 300 million cannot replace 545 people who stand convicted -- by present facts -- of incompetence and irresponsibility. I can't think of a single domestic problem that is not traceable directly to those 545 people. When you fully grasp the plain truth that 545 people exercise the power of the federal government, then it must follow that what exists is what they want to exist.
If the tax code is unfair, it's because they want it unfair.
If the budget is in the red, it's because they want it in the red.
If the Army & Marines are in Iraq and Afghanistan it's because they want them in Iraq and Afghanistan ...
If they do not receive social security but are on an elite retirement plan not available to the people, it's because they want it that way.
There are no insoluble government problems.
Do not let these 545 people shift the blame to bureaucrats, whom they hire and whose jobs they can abolish; to lobbyists, whose gifts and advice they can reject; to regulators, to whom they give the power to regulate and from whom they can take this power. Above all, do not let them con you into the belief that there exists disembodied mystical forces like "the economy," "inflation," or "politics" that prevent them from doing what they take an oath to do.
Those 545 people, and they alone, are responsible.
They, and they alone, have the power.
They, and they alone, should be held accountable by the people who are their bosses.
Provided the voters have the gumption to manage their own employees...
We should vote all of them out of office and clean up their mess!
Charlie Reese is a former columnist of the Orlando Sentinel Newspaper.
What you do with this article now that you have read it... is up to you.
This might be funny if it weren't so true.
Be sure to read all the way to the end:
Tax his land,
Tax his bed,
Tax the table,
At which he's fed.
Tax his tractor,
Tax his mule,
Teach him taxes
Are the rule.
Tax his work,
Tax his pay,
He works for
peanuts anyway!
Tax his cow,
Tax his goat,
Tax his pants,
Tax his coat.
Tax his ties,
Tax his shirt,
Tax his work,
Tax his dirt.
Tax his tobacco,
Tax his drink,
Tax him if he
Tries to think.
Tax his cigars,
Tax his beers,
If he cries
Tax his tears.
Tax his car,
Tax his gas,
Find other ways
To tax his ass.
Tax all he has
Then let him know
That you won't be done
Till he has no dough.
When he screams and hollers;
Then tax him some more,
Tax him till
He's good and sore.
Then tax his coffin,
Tax his grave,
Tax the sod in
Which he's laid...
Put these words
Upon his tomb,
'Taxes drove me
to my doom...'
When he's gone,
Do not relax,
Its time to apply
The inheritance tax.
Accounts Receivable Tax
Building Permit Tax
CDL license Tax
Cigarette Tax
Corporate Income Tax
Dog License Tax
Excise Taxes
Federal Income Tax
Federal Unemployment Tax (FUTA)
Fishing License Tax
Food License Tax
Fuel Permit Tax
Gasoline Tax (currently 44.75 cents per gallon)
Gross Receipts Tax
Hunting License Tax
Inheritance Tax
Inventory Tax
IRS Interest Charges IRS Penalties (tax on top of tax)
Liquor Tax
Luxury Taxes
Marriage License Tax
Medicare Tax
Personal Property Tax
Property Tax
Real Estate Tax
Service Charge Tax
Social Security Tax
Road Usage Tax
Recreational Vehicle Tax
Sales Tax
School Tax
State Income Tax
State Unemployment Tax (SUTA)
Telephone Federal Excise Tax
Telephone Federal Universal Service Fee Tax
Telephone Federal, State and Local Surcharge Taxes
Telephone Minimum Usage Surcharge Tax
Telephone Recurring and Nonrecurring Charges Tax
Telephone State and Local Tax
Telephone Usage Charge Tax
Utility Taxes
Vehicle License Registration Tax
Vehicle Sales Tax
Watercraft Registration Tax
Well Permit Tax
Workers Compensation Tax
STILL THINK THIS IS FUNNY?
Not one of these taxes existed 100 years ago, & our nation was the most prosperous in the world.
We had absolutely no national debt, had the largest middle class in the world, and Mom stayed home to raise the kids.
What in the heck happened? Can you spell 'politicians?'
I hope this goes around THE USA at least 545 times!!! YOU can help it get there!!!
GO AHEAD. . . BE AN AMERICAN!!!
Buffett BS
Submitted by Maxwells on Mon, 08/15/2011 - 1:59pm.
If Buffett were sincere he'd Not be filing tax exemptions and write-offs every year, he'd simply be mailing in his check.
The reality is Buffet has by now positioned himself very well for a tax increase and only wants to have his competition which may not be as well prepared for a sudden tax increase, knocked down and marginalized, don't listen to Buffett's BS.
Monkey see, monkey do . . .
Submitted by LLinLa on Mon, 08/15/2011 - 2:26pm.
Mr. Buffett, you are a brilliant businessman and a consummate charlatan at the same time. It is not illegal to donate any amount of money to the US Treasury gratis. Instead you try to influence others to create a law to do so. Why? The majority of taxpayers in these United States are not complaining--so much--about paying taxes, they are reacting to the MISUSE of the money they fork over to the US Government! The fraud, the abuse, the redirection (Social Security lockbox, my a---!), the inequities of the non-productive living on the dole for their entire lifetime while I report to work every day to provide them a government check so they can reward their favorite politician! Keep everybody's taxes as is AND CUT OUT FUNDING CRAP JOBS AND PROJECTS! Create a tax amendment that would require EVERY TAX, FEE OR MONETARY OBLIGATION ON THE TAXPAYER'S OF AMERICA TO BE RENEWED ONCE EVERY ONE OR TWO YEARS BY A 2/3'S VOTE--AS WELL AS ANY EXPENDITURE BILL--WITHOUT EXCEPTION!!! That will bring sanity back to the Capitol Hill Clown Circus since they'll be spending most of their time voting up or down existing tax laws instead of creating new ways to screw the American People.
Dryden01
Submitted by Dryden01 on Mon, 08/15/2011 - 3:56pm.
Someone needs to remind Warren that lip service to pander to the Bolsheviks from the Yuriatin Revolutionary Committee is cheap and will not prevent him and his family from meeting the same fate as the Romanovs when its mob of envy worshipers comes to arrest him and teach the world a lesson. If he wants to give $5 billion away then let him divvy it up among his formerly exploited workers who probably have to fight their cats for a dinner share of the little friskies with what little pittance he paid them. They will make better news of the 5 billion than a wasteful Obama Administration and it will actually do people some good. If he is really feeling ambitious, then let him start a new company and hire some American union workers and see how soon it goes broke paying for Obamacare.
This is a man that so
Submitted by Immortal Fish on Mon, 08/15/2011 - 4:46pm.
This is a man that so recently said:
“I could end the deficit in five minutes. You just pass a law that says that anytime there is a deficit of more than three percent of GDP all sitting members of congress are ineligible for reelection."
This is the same mind that published such drivel as that OpEd?
Did he fumble with the OpEd or was that quote of his I copied above just a moment of clarity for a tired fool?
Taxes and conservative Obama derangement syndrome.
Submitted by Roger Veritas on Mon, 08/15/2011 - 6:10pm.
Its as if conservatives have actually forgotten that the Constitution of our United States provides for taxation. One of George Washington's first actions was to suppress a tax insurrection. Buffet knows that tax revenues underpin our economy and that is something even the founders knew. They used it to build Washington, they used Taxes to fight the British the second time. Jefferson used taxes to pay for the Louisiana Purchase. The Confederate states passed the first income tax to fight the Union, they still lost and with it some states rights with it. Buffet is a under capitalist which is what seems to the lesser capitalists that he is a traitor, to them maybe but not to the United States like they are.
Hmmm... no.
Submitted by retrocon on Mon, 08/15/2011 - 6:28pm.
You forget that abusive taxation UNDERMINES a free economy.
Taxes are necessary, but if they are not fair, they are oppressive. That's what happened at the original Tea Party, that's what's happening now.
To even equate the current federal tax and SPENDING government with the colonial states and the beliefs of our founders is being either dishonest or misinformed.
Our founders and framers (most) were NOT big government liberals, no spin on history can make that case. The feared big government, they put massive limits on government (which liberals are trying to eliminate through court "interpretations"). Seriously, read some history instead of trying to rewrite it.
Buffet is not trying to be a good constitutional capitalist... he is trying to get bigger by making it more difficult for smaller companies to compete. He has nothing to lose except competition and "pocket change."
Taxes for the Federal
Submitted by Free Stinker on Mon, 08/15/2011 - 6:30pm.
Taxes for the Federal government to do what they are costitutionally allowed to are fine.
Taxes for the redistribution of wealth is what we object to. Try to pay closer attention next time.
/// Sarah Palin Fan since July 11, 2007 /// خال
New law...
Submitted by retrocon on Mon, 08/15/2011 - 6:20pm.
Any billionaire (or hundredmillionaire) who complains of not paying enough in taxes, will be instantly flagged for the new "wealth tax."
So, from now on, Mr. Buffet, Zuckerburg, and Kerry, you will deliver 25% of your total net worth to the government every April 15th until that net worth is below 1 billion dollars. At which point, you should have enough money to still live your lavish livestyles, pretty much forever.
If they are being honest, this should work for them!
This will either bring in about a 1/2 a trillion bucks in the next 5 years, or shut up a bunch of elistist billionaires.
Warren's Tax Shelters
Submitted by ChasVoice on Mon, 08/15/2011 - 6:47pm.
Why doesn't the IRS do for Warren Buffet's hideaway abortion-fund what he's not man enough to do for himself - - CANCEL his non-profit, tax-exempt IRS Charter!
See it here:
http://www.guidestar.org/FinDocuments/2009/476/032/2009-476032365-06cb79...
same goes for the Gates Foundation!
If Warren Buffett had already
Submitted by freedom-rings on Mon, 08/15/2011 - 7:33pm.
If Warren Buffett had already silently donated to the deficit, he would have something to boast about. There's something to be said for 'putting your money where your mouth is'. I guess the only things that gravitate to his mouth are flies. But then again, maggots can be so cleansing!
Even if they raised taxes it
Submitted by okie-pastor on Tue, 08/16/2011 - 1:51am.
Even if they raised taxes it wouldn't put a dent in the deficit!!!
The government would just spend more $$$$$$$!!!! The government is like that annoying commercial "it's my money and I need it NOW!!"
They want to punish those who earn more than they do. This is what they think is "FAIR"
Too bad!!!!!!!
we are Taxed Enough Already!!!!!