Thread: Stop Coddling the super Rich

Warren Buffett?s Taxing the Rich Won't Solve Deficit, Says Tax Foundation | CNSnews.com

(CNSNews.com) – Taxing millionaires and billionaires more – a position advocated by billionaire Warren Buffett and President Barack Obama – won’t make much of a dent in the national debt or the record federal budget deficits, a new study finds.

“Even taking every last penny from every individual making more than $10 million per year would only reduce the nation's deficit by 12 percent and the debt by 2 percent,” the non-partisan Tax Foundation’s David Logan writes.

I love the enclosed picture....Obama slipping that ribbon around Buffet's neck, simply brings a tear to my eye.
And also reminds me of Obama giving BP safety award prior to the oil spill.

I betting Obama can't wipe his own ass correctly.

Originally Posted by michael h

I can't seem to express it and make it understood. Maybe Buffet can help some get it and understand the pampering going on, as he submitted his own tax bill for examination.

By the way, michael h, you know that Warren Buffet is not being honest, right? He's always in the headlines railing against his low tax rates. What you don't hear is that the reason he has such low tax rates is because his money is either tied up in stocks or are in tax-free municipal bonds. It's not because his TAX RATES are low, in other words. Additionally, if Buffet was actually concerned about his low taxes -- and he's not -- he could just give the government half his money, for example. But he doesn't. And he won't. In other words, he's seeing what Americans are suckers. Buffet, you see, is not a stupid individual. So you should ask yourself what his motivation is.

I hope this helped you sort through the issue.

Originally Posted by goober

It's not arbitrary. The purpose of taxation is to pay for government spending.
Sometimes you defer payment, in the case of an emergency.
Sometimes you defer payment, to skip out on the bill.
The Reagan and Bush tax cuts were the "skipping out on the bill" kind.
People running up a tab they didn't want to pay for and not paying for it.
As opposed to the deficits of the world wars, which were emergency spending.
Those deficits of the Reagan and Bush administrations creation, were deficits of choice. Deficits created for the purpose of making it appear we had a crisis, that could be used as a tool to repeal social legislation. They are the self destruction of the system based on internal flaws.
The current deficits are the result of an emergency resulting from a collapse of the financial system, and they are partly the deficits created to produce the theatre of a crisis.

It (how much is confiscated and who from) is absolutely arbitrary.

Originally Posted by C-B-M

By the way, michael h, you know that Warren Buffet is not being honest, right? He's always in the headlines railing against his low tax rates. What you don't hear is that the reason he has such low tax rates is because his money is either tied up in stocks or are in tax-free municipal bonds. It's not because his TAX RATES are low, in other words. Additionally, if Buffet was actually concerned about his low taxes -- and he's not -- he could just give the government half his money, for example. But he doesn't. And he won't. In other words, he's seeing what Americans are suckers. Buffet, you see, is not a stupid individual. So you should ask yourself what his motivation is.

I hope this helped you sort through the issue.

ahoy C-B-M,

Mr. Buffet makes mention 'o this in his opinion piece...'as a matter 'o fact, 'tis one 'o the principle points he's makin'.

'tis not hidden, mate.

- MeadHallPirate

Originally Posted by CharlesDavenport

So not arbitrarily confiscating more of their money is coddling them? You are such a nurturer.

It does appear arbitrary ... when under a progressive tax system the wealthiest pay a lesser percentage then someone making $200,000. Wealth concentration is not an accident ... its legislated.

Originally Posted by skeptic1

The wider market might be "cheaper" and "adequate" quality for the masses

without "exploitation of labor. Laws must be imposed to control lust for profit.

I would suggest laws benefit all Americans ... not legislated to benefit a few. Not happening though as can be seen by the attack by congress on USPS as a screen for attacking union labor.

Also not seen in the coming free trade agreements which will export more jobs ... as if America can provide an endless supply of them to export.

Originally Posted by headbanger

Warren Buffett?s Taxing the Rich Won't Solve Deficit, Says Tax Foundation | CNSnews.com




I love the enclosed picture....Obama slipping that ribbon around Buffet's neck, simply brings a tear to my eye.
And also reminds me of Obama giving BP safety award prior to the oil spill.

I betting Obama can't wipe his own ass correctly.

I'm sure Obushma has a royal asswiper and two jets to fly the family separately.

Originally Posted by C-B-M

By the way, michael h, you know that Warren Buffet is not being honest, right? He's always in the headlines railing against his low tax rates. What you don't hear is that the reason he has such low tax rates is because his money is either tied up in stocks or are in tax-free municipal bonds. It's not because his TAX RATES are low, in other words. Additionally, if Buffet was actually concerned about his low taxes -- and he's not -- he could just give the government half his money, for example. But he doesn't. And he won't. In other words, he's seeing what Americans are suckers. Buffet, you see, is not a stupid individual. So you should ask yourself what his motivation is.

I hope this helped you sort through the issue.

See post#182, I replied to this and his loss leader.

Originally Posted by MeadHallPirate

ahoy C-B-M,

Mr. Buffet makes mention 'o this in his opinion piece...'as a matter 'o fact, 'tis one 'o the principle points he's makin'.

'tis not hidden, mate.

- MeadHallPirate

Oh, I didn't read his opinion piece. I'm merely referring to what is popularly understood by people when they hear that Warren Buffet is demanding higher tax rates "for himself." I'll consider reading it then, but my personal opinion is that Warren Buffet is a dirtbag and an attention whore because, as I said, if he was that torn up about how low his taxes were he could just give more in taxes.

[EDIT: As I suspected, I read the MSNBC piece that was in the OP by michael h and it makes no mention of any of this. It just says that he says that the rich aren't taxed enough and need to be taxed more and wouldn't mind it.]

Originally Posted by michael h

See post#182, I replied to this and his loss leader.

Post #182 just referred me to other posts, so it wasn't that informative. I did go to post #22 (which was one post that was referenced) and in it you say that Buffet has two claims. The second one I can agree with (that the rich cannot pay for everything), but the first one (that the rich are coddled) I have issues with. Being that the rich are the ones who pay a disproportionate amount of taxes in America, I don't know how he can say that. The people who are coddled are actually the poor and middle class. But that's not politically correct to say.

Originally Posted by CharlesDavenport

It (how much is confiscated and who from) is absolutely arbitrary.

There is nothing arbitrary about the agenda ... you must pay taxes to support corporate agendas ... it is tribute to the wealthy. Its not optional ... America has a 960 billion war machine to fund and trade agreements concentrating wealth that must be funded by budget deficits. Those who make less serve more function to the elite then you might. We have been bled ... we have lower wages / we work for the cheap ... if you are not elite ... you are the next target for funding the elite agendas. When your earnings are lower ... we will have the next target.

Originally Posted by C-B-M

Post #182 just referred me to other posts, so it wasn't that informative. I did go to post #22 (which was one post that was referenced) and in it you say that Buffet has two claims. The second one I can agree with (that the rich cannot pay for everything), but the first one (that the rich are coddled) I have issues with. Being that the rich are the ones who pay a disproportionate amount of taxes in America, I don't know how he can say that. The people who are coddled are actually the poor and middle class. But that's not politically correct to say.

Post#22

Note what job#1 is budget reductions ... taxes are a loss leader to tax reductions.

Point 2:
Job one for the 12 is to pare down some future promises that even a rich America can’t fulfill. Big money must be saved here. The 12 should then turn to the issue of revenues. I would leave rates for 99.7 percent of taxpayers unchanged and continue the current 2-percentage-point reduction in the employee contribution to the payroll tax. This cut helps the poor and the middle class, who need every break they can get.

Originally Posted by michael h

This cut helps the poor and the middle class, who need every break they can get.

That's silly. The poor pay nothing in federal taxes and the middle class pays a pittance. In fact, this "feeling bad" for the poor and middle class is the problem. If the poor and middle class had to pay the same tax rates as the rich, they wouldn't be so quick to call for tax increases. I have no sympathy for the poor or the middle class.