[Wildcatk23]

LOS ANGELES (KABC) -- Investor Warren Buffett, one of America's richest men, said he and his wealthy friends should have to pay more to the government.

In a New York Times opinion piece, Buffett said he would immediately raise rates on households with taxable income of more than $1 million, and he would add an additional increase for those making $10 million or more.

"My friends and I have been coddled long enough by a billionaire-friendly Congress," Buffett wrote. "It's time for our government to get serious about shared sacrifice."

Buffett also recommended that Congress' new debt-reduction supercommittee leave rates for 99.7 percent of taxpayers unchanged.

Buffett noted that the mega-rich pay practically nothing in payroll taxes, while the middle class is hit with heavy payroll taxes.

Last year, Buffett paid $7 million in taxes. That sounds like a lot of money, but it works out to a tax rate of just 17 percent. Buffett points out that, on average, his employees pay about double that rate - 33 percent.

He said Washington legislators "feel compelled to protect us, much as if we were spotted owls or some other endangered species."

Buffett said he knows many of the mega-rich well, and most wouldn't mind paying more in taxes, especially when so many fellow citizens are suffering. He also said he has yet to see anyone shy away from investments because of tax rates on potential gains, even when rates were much higher in the mid-1970s, 1980s and 1990s.

"People invest to make money, and potential taxes have never scared them off," he said.

It didn't take long for President Barack Obama to embrace Buffett's call to tax to the rich.

But critics like conservative Pat Buchanan were just as quick to dismiss it.

"Why doesn't he set an example and send a check for $5 billion to the federal government? He's got about $40 billion," Buchanan said.
Buffett, like other wealthy Americans, gets tax breaks on capital gains - the profits resulting from investments - and they're taxed at only 15 percent.

According to Obama, wealthy Americans are those who make $200,000 a year or more. Buffett wants to raise taxes on those making $1 million or more. An additional 1-percent tax on the richest Americans is estimated to raise $100 billion in revenues over 10 years, which some tax experts said is not enough.

"The bottom line is that the fiscal hole that we face is so large that everybody is going to have to be prepared to pay more in revenues in the end," said Maya MacGuineas of the Committee for a Responsible Federal Budget.

I Urge you to watch this!

http://www.hulu.com/watch/269517/the-dai...ug-18-2011

[Old School]

Why doesn't Buffett pay more taxes himself? To my knowledge there is no law that keeps anyone from paying additional taxes.

[Wildcatk23]

Why doesn't Buffett pay more taxes himself? To my knowledge there is no law that keeps anyone from paying additional taxes.

If there wasn't such tax cuts for the rich he would have to. 17%, Wow.

[Old School]

If there wasn't such tax cuts for the rich he would have to. 17%, Wow.

Buffett doesn't have to pay just 17%, he can any amount above 17% he wants to. Why doesn't Buffett pay 40%?

Apparently Buffett believes the old saying "Do as I say, not as I do".

[Hoot Gibson]

$100 billion of additional tax revenue, spread over 10 years, would balance the deficit for period of less than one month.

The cause of the annual budget deficit is over spending and as long as liberals continue to insist that welfare payments and other unearned benefits must be given to millions of Democratic voters, illegal aliens, and others who do not deserve them, the problem will only get worse.

[Benchwarmer]

$100 billion of additional tax revenue, spread over 10 years, would balance the deficit for period of less than one month.

The cause of the annual budget deficit is over spending and as long as liberals continue to insist that welfare payments and other unearned benefits must be given to millions of Democratic voters, illegal aliens, and others who do not deserve them, the problem will only get worse.

And, all the welfare receiving republicans that don't deserve it along with the illegal aliens.

[Old School]

Just how serious is Buffet about the rich paying higher taxes?

Warren Buffet isn't serious when he says, please, tax me more. He was asked by CNBC reporter Rebecca Quick in 2007 why he shelters his fortune in tax-exempt foundations instead of giving it to the government, as he exhorts others to do. Buffet replied, "I think that on balance the Gates Foundation, my daughter's foundation, my two sons' foundations will do a better job with lower administrative costs and better selection of beneficiaries than the government." In other words, he thinks he has better ideas for how to spend his dollars than the government, and would do a better job of it, too.


http://www.americanthinker.com/2011/08/w...obama.html

[TheRealThing]

LOS ANGELES (KABC) -- Investor Warren Buffett, one of America's richest men, said he and his wealthy friends should have to pay more to the government.

In a New York Times opinion piece, Buffett said he would immediately raise rates on households with taxable income of more than $1 million, and he would add an additional increase for those making $10 million or more.

"My friends and I have been coddled long enough by a billionaire-friendly Congress," Buffett wrote. "It's time for our government to get serious about shared sacrifice."

Buffett also recommended that Congress' new debt-reduction supercommittee leave rates for 99.7 percent of taxpayers unchanged.

Buffett noted that the mega-rich pay practically nothing in payroll taxes, while the middle class is hit with heavy payroll taxes.

Last year, Buffett paid $7 million in taxes. That sounds like a lot of money, but it works out to a tax rate of just 17 percent. Buffett points out that, on average, his employees pay about double that rate - 33 percent.

He said Washington legislators "feel compelled to protect us, much as if we were spotted owls or some other endangered species."

Buffett said he knows many of the mega-rich well, and most wouldn't mind paying more in taxes, especially when so many fellow citizens are suffering. He also said he has yet to see anyone shy away from investments because of tax rates on potential gains, even when rates were much higher in the mid-1970s, 1980s and 1990s.

"People invest to make money, and potential taxes have never scared them off," he said.

It didn't take long for President Barack Obama to embrace Buffett's call to tax to the rich.

But critics like conservative Pat Buchanan were just as quick to dismiss it.

"Why doesn't he set an example and send a check for $5 billion to the federal government? He's got about $40 billion," Buchanan said.
Buffett, like other wealthy Americans, gets tax breaks on capital gains - the profits resulting from investments - and they're taxed at only 15 percent.

According to Obama, wealthy Americans are those who make $200,000 a year or more. Buffett wants to raise taxes on those making $1 million or more. An additional 1-percent tax on the richest Americans is estimated to raise $100 billion in revenues over 10 years, which some tax experts said is not enough.

"The bottom line is that the fiscal hole that we face is so large that everybody is going to have to be prepared to pay more in revenues in the end," said Maya MacGuineas of the Committee for a Responsible Federal Budget.

I Urge you to watch this!

http://www.hulu.com/watch/269517/the-dai...ug-18-2011

100 Billion over the next 10 years huh? If you take our projected deficit 10 years from now you're talking about 25 Trillion Dollars. 100 Billion subtracted from that amount in the form of a fraction would look like this 1/2,500th of the debt, (money we borrow only, not the whole budget) So, if you want to get an idea what that means in terms of real savings divide one dollar into 2500 equal parts and subtract 1 of those parts, which will leave you with 2,499 equal parts still owed. That's putting a dent in the old balance sheet boy! And you're spreading that amount out over the course of a decade. More fuzzy math from the liberal truth benders.

This whole business about taxing the rich is eyewash. Obama knows it is meaningless, the Real intent here is to get people like---YOU? to get an attitude about the so called rich people so that redistribution of wealth will become ethical in the eyes of the American public. Hitler blamed the Jew in much the same way with the devastatingly effective results.

We are spending our way into oblivion. Simultaneously, prices for energy and food are going through the roof and the worm of inflation eats away at the value of the dollar. Do you really think the democrats can deliver utopia to you on a platter? Without spending cuts I predict we will not be taking the air of freedom into our lungs by the time we reach the predicted 25 trillion national debt plateau.

Very soon you will see the true meaning of "the fundamental transformation of the United States of America" in all it's horror. But, you're probably telling yourself you'll be above the strife along with all the other dems right? It will be those republicans that will be finally getting what they deserve.:please:

Regrettably, I wasted enough time to watch your provided link. You're gonna reference comedy central while you pooh pooh Wikipedia? LOL Every society in history has had it's poor, but, even in the beginning Kings and rulers knew if they issued an invitation to belly up to the free lunch bar, the numbers of the poor on the dole would literally explode. So they didn't start down the road that has only one ending point, national downfall. I hate to see somebody hurting too, and they should be helped but, that isn't the limit what we do in this country. We house, clothe, feed, medicate (mentally and physically), and provide cell phones, just to name the more common ones. And, unfortunately, human nature assures us that many will take advantage of people willing to give things away. As long as we will hand things out there will always be more hands stuck out than we could ever hope to possibly fill.

Stewart's rant on your link doesn't take into the account the fact that we have 2nd and 3rd generation welfare recipients in this country. While the lower paying service jobs all wind up going to immigrants legal and illegal, or to student summer help. In the old movies we commonly see soda jerks and gas station attendants portrayed along with every kind of service job we could name. Americans have become too good to do many of these jobs, but, not too good to recieve government entitilements. The reason immigrants don't feel too good to do service related jobs is because they haven't yet acquired the uniquely American position that some work is beneath them. They are still saddled by the quaint notion if one want's to eat he must work. Of course, give Obama time, he'll get all that nonsense out of their heads. How about a nice check included along with their amnesty papers and a democrat voter registration form?

[Hoot Gibson]

100 Billion over the next 10 years huh? If you take our projected deficit 10 years from now you're talking about 25 Trillion Dollars. 100 Billion subtracted from that amount in the form of a fraction would look like this 1/2,500th of the debt, (money we borrow only, not the whole budget) So, if you want to get an idea what that means in terms of real savings divide one dollar into 2500 equal parts and subtract 1 of those parts, which will leave you with 2,499 equal parts still owed. That's putting a dent in the old balance sheet boy! And you're spreading that amount out over the course of a decade. More fuzzy math from the liberal truth benders.

This whole business about taxing the rich is eyewash. Obama [B]knows it is meaningless, the Real intent here is to get people like---YOU? to get an attitude about the so called rich people so that redistribution of wealth will become ethical in the eyes of the American public. Hitler blamed the Jew in much the same way with the devastatingly effective results. [/B]

We are spending our way into oblivion. Simultaneously, prices for energy and food are going through the roof and the worm of inflation eats away at the value of the dollar. Do you really think the democrats can deliver utopia to you on a platter? Without spending cuts I predict we will not be taking the air of freedom into our lungs by the time we reach the predicted 25 trillion national debt plateau.

Very soon you will see the true meaning of "the fundamental transformation of the United States of America" in all it's horror. But, you're probably telling yourself you'll be above the strife along with all the other dems right? It will be those republicans that will be finally getting what they deserve.:please:

Regrettably, I wasted enough time to watch your provided link. You're gonna reference comedy central while you pooh pooh Wikipedia? LOL Every society in history has had it's poor, but, even in the beginning Kings and rulers knew if they issued an invitation to belly up to the free lunch bar, the numbers of the poor on the dole would literally explode. So they didn't start down the road that has only one ending point, national downfall. I hate to see somebody hurting too, and they should be helped but, that isn't the limit what we do in this country. We house, clothe, feed, medicate (mentally and physically), and provide cell phones, just to name the more common ones. And, unfortunately, human nature assures us that many will take advantage of people willing to give things away. As long as we will hand things out there will always be more hands stuck out than we could ever hope to possibly fill.

Stewart's rant on your link doesn't take into the account the fact that we have 2nd and 3rd generation welfare recipients in this country. While the lower paying service jobs all wind up going to immigrants legal and illegal, or to student summer help. In the old movies we commonly see soda jerks and gas station attendants portrayed along with every kind of service job we could name. Americans have become too good to do many of these jobs, but, not too good to recieve government entitilements. The reason immigrants don't feel too good to do service related jobs is because they haven't yet acquired the uniquely American position that some work is beneath them. They are still saddled by the quaint notion if one want's to eat he must work. Of course, give Obama time, he'll get all that nonsense out of their heads. How about a nice check included along with their amnesty papers and a democrat voter registration form?

Bingo! Every tyrant needs a scapegoat to divert the dumb masses' attention away from the fact that their wealth and freedom is being stripped. For Hitler, it was the Jews, and for Obama and his socialist supporters, it is the rich (white) man.

[TheRealThing]

Bingo! Every tyrant needs a scapegoat to divert the dumb masses' attention away from the fact that their wealth and freedom is being stripped. For Hitler, it was the Jews, and for Obama and his socialist supporters, it is the rich (white) man.

This is the unfortunate thing I see when it comes to the obvious predjudice of this administration and people like Sheila Jackson Lee, Al Sharpton and Jesse Jackson, in this country. They would gladly put their boot on the throat of the rich white man because he more than deserves it in their eyes. Revolution in and of itself, is a self pertetuating engine in that a legitimate cause is not neccessary to get one going. Take the rebellion against the very tenents of our society, the so called sexual revolution of the 60's.

That was rebellion/revolution for the sake of rebellion. The greatest country on earth, with the best living conditions and freedoms this world has ever known. Pray tell me what was there to rebel against? I know the answer and, I will give it here. During the dark days of WWII everyone was scared of the threat that the axis powers posed to their lives. Hence, America had turned to God for help. Most Americans went to church and prayed that sons, daughters, husbands and family of all catagories would come home to those that loved them. In the days immediately after 9/11 a resurgence of this very thing happened again as milliions turned to God for help and prayed for protection from the threat of terror. Schools and other public places were policed as never before as we did our best to protect our most precious of resources, our children.

The children of the sexual revolution, the 60's generation, grew up in a time of no threat and, since it only takes one generation to COMPLETELY unlearn any lesson of history, no matter how dire the situation may have been. Even the real possibility of national annihalation at the hand of Hitler et-al, failed to make the hard lessons of WWII stick. And so, during the 60's, for the first time ever on US soil we began to see riots and rebellion in the streets of California as they revolted for no reason whatever.

Without anything to use for a basis for comparison the golden age of American history was wrongly assesed by hippydom and, they proceeded to rebel against parents, God and country. It is human nature, take away threat from without and people will go to war against themselves. If it were true as French psychologist Emile Coue's famous quote suggested in the mid 20th century that, "every day in every way I'm getting better and better" why do we insist on destroying ourselves? Things are worse now. Everybody wants everything and now they feel entitled. It doesn't help matters that the dems blame the republicans for people's percieved lack either. Those despicable, rich, white, republicans/Jews have all the wealth and the dems/brown shirts, will help the poor get it away from them. Think history can't repeat itself? I think Satan is pulling the same puppet strings he did in Germany in 1929. We better get this thing turned around by next election cycle or I'm afraid it's over.

[Old School]

Here is an interesting bit of news. Buffet's company Berkshire Hathaway has not paid corporate taxes in nearly 10 years.

http://www.theblaze.com/stories/obama-su...ince-2002/

[TheRealThing]

Here is an interesting bit of news. Buffet's company Berkshire Hathaway has not paid corporate taxes in nearly 10 years.

http://www.theblaze.com/stories/obama-su...ince-2002/

Old School, did you happen to click on the " Kiss America Goodbye " box? If he is right about ANY of his predictions America will be toast by next election cycle. As I suspected, the one thing that really has brought on the so called Arab Spring and gave demonstrators the courage to suddenly take to the streets and even fight against the government military forces in civil war is HUNGER. Is it possible that quiet American residential neighborhoods could go from friendly faces cutting grass and washing cars to makeshift gun turrets as John Q Public is forced to defend his family and home from looters rampaging through the streets? It's more than possible. If ever it comes to the point when the government checks stop coming to 2nd and 3rd generation welfare recipients I believe it will happen. When people start getting hungry they will do anything to get food.

America is walking in the footsteps of the Weimar Republic. The Fed has quietly printed so much money US financial destruction is practically a given. Obama could care less, so desperate is he to keep his voting base together until the election of 2012 he is more than willing to take down the United States in his bid for reelection. Instead of allowing House Republicans to pass legislation that would have balanced the budget in 6 years he spearheaded blocking manuevers through his puppet in the Senate, (Harry Reid) who demanded we INCREASE our spending from 10.5 trillion when Obama took office to an unbelievable 25 trillion over the course of the next 7 years. Republicans tried to get them to hold spending at present levels until we get things turned around but, that wasn't good enough for Obama to buy votes and ensure the common folk will in fact loose everything they have including pensions and social security.

I mean, leave politics out of it. Numbers don't lie, we will never be able to pay back 25 trillion dollars in debt. It's just like a credit card. It takes 33 years to pay off a 5,000 dollar credit card making the minimum payment.

[Wildcatk23]

Here is an interesting bit of news. Buffet's company Berkshire Hathaway has not paid corporate taxes in nearly 10 years.

http://www.theblaze.com/stories/obama-su...ince-2002/

10 years huh? Hmm... I wonder why....

[Old School]

TRT, If you had ask me that question 20 or 30 years ago I would have said no way would we ever see fighting in the streets like they do in other countries. However if life expericences have taught me anything over the years, it is to never say never. Growing up I never thought the World would have taken the path it has during the past 15 or so years.

[Old School]

10 years huh? Hmm... I wonder why....

Meanwhile, McCarty believes Berkshire‘s current issues may be consistent with the company’s long-time history regarding taxes, noting, “this is not the first time that Berkshire Hathaway has tangled with the IRS.”

“They fought a 14-year battle over the dividends received deduction. That case was just resolved in 2005,” McCarty said.

If I'm not mistaken the 14 year battle would have started during the last year of G.H. Bush administration and continued through out the Clintion administration and into G.W. Bush's second term.

http://www.theblaze.com/stories/how-much...1-billion/

[Bob Seger]

Old School, did you happen to click on the " Kiss America Goodbye " box? If he is right about ANY of his predictions America will be toast by next election cycle. As I suspected, the one thing that really has brought on the so called Arab Spring and gave demonstrators the courage to suddenly take to the streets and even fight against the government military forces in civil war is HUNGER. Is it possible that quiet American residential neighborhoods could go from friendly faces cutting grass and washing cars to makeshift gun turrets as John Q Public is forced to defend his family and home from looters rampaging through the streets? It's more than possible. If ever it comes to the point when the government checks stop coming to 2nd and 3rd generation welfare recipients I believe it will happen. When people start getting hungry they will do anything to get food. America is walking in the footsteps of the Weimar Republic. The Fed has quietly printed so much money US financial destruction is practically a given. Obama could care less, so desperate is he to keep his voting base together until the election of 2012 he is more than willing to take down the United States in his bid for reelection. Instead of allowing House Republicans to pass legislation that would have balanced the budget in 6 years he spearheaded blocking manuevers through his puppet in the Senate, (Harry Reid) who demanded we INCREASE our spending from 10.5 trillion when Obama took office to an unbelievable 25 trillion over the course of the next 7 years. Republicans tried to get them to hold spending at present levels until we get things turned around but, that wasn't good enough for Obama to buy votes and ensure the common folk will in fact loose everything they have including pensions and social security.

I mean, leave politics out of it. Numbers don't lie, we will never be able to pay back 25 trillion dollars in debt. It's just like a credit card. It takes 33 years to pay off a 5,000 dollar credit card making the minimum payment.

And their drugs.

[Hoot Gibson]

10 years huh? Hmm... I wonder why....

Because they chose not to pay them. Liberals like Buffet support higher tax rates because they know that somebody else will be paying them. Much of his income gets sheltered in tax-free investments and trusts.