Taxing more seems to be the popular mantra these days and to some extent Warren and Co. are correct. But at the same time, governments in all developed countries would really gain by following Paretos principle in terms of spending. It seems like governments create more and more social wellfare programs and bail out banks etc (stupid expenses in many cases). It´s time to decrease unncessary public spending. Focus on what works and what will give the public the best value for their money.
@romancandlefight As I see it: if we taught people the value of self-responsibility and about the value of living on less than they earn. There would be no need for big governments or hugh social wellfare programs. Taxes are needed, because the majority of people (I hate to say it) are stupid and naive with money. That is why we have to pay high taxes in all developed countries (I´m swedish and not american, but Sweden is a high tax country). To some extent we need to pay taxes for police etc.
Well I expect the people who have little money are the ones who value it the most. Rather than being naive, they are easily taken advantage of because they are the most desperate. There are so many situations where it benefits the powerful to beguile the powerless, that something like government welfare programs (including education) and a progressive tax system (in and of itself effective) are necessary to divert the return to feudalism (also saving the economy)
More then the % of what they had to pay i would like to know the dollar amount they paid in. Also why not just lower the middle class tax rate to the capitol gains level.I would love if people would leave OTHER PEOPLES MONEY alone.I will give all respect to Mr. Buffet on his ability to build his wealth and the people who intrust him with there money. But F.A. Hayek and Milton Friedman are true economist. Mr. Buffet is an investor with the total understanding of impulse and trend economics.
One thing that I love about Warren, and it is said by many who attend his yearly conferences, is that he can describe complex ideas in the simplest language, a master communicator. As another noted here, his record of 22% per annum over the past say 50 years is unparalleled. And yes, I think he knows a thing or two about economics ;)
Buffett is a socialist like everyone else. I wish he would learn some basic economics before preaching marxism.
The rich invest their money. Any money stolen from the rich means less machines for the working class which means lower productivity and lower wages. We need to shut down this worthless tyrannical government, not feed it more money.
@ecnerwal999 you think Warren Buffett should learn some basic economics before doing any preaching? LMAO.. Your first Paragraph throws your credibility straight out the window. Buffett's record speaks for itself. Best you keep your opinion to yourself, until you have proven yourself like Warren has.
@aussietuff Buffett is a brilliant capital-allocator. He's not an economist. He is a professional investor. Economics and business valuation are two completely different things. He is a terrible economist though, actually he's not one at all.
I have been buying gold for years and the price of gold has returned more than Buffett has recently. So my record is pretty good.
this guy is my idol
reaper2ooX 3 weeks ago 2
Taxing more seems to be the popular mantra these days and to some extent Warren and Co. are correct. But at the same time, governments in all developed countries would really gain by following Paretos principle in terms of spending. It seems like governments create more and more social wellfare programs and bail out banks etc (stupid expenses in many cases). It´s time to decrease unncessary public spending. Focus on what works and what will give the public the best value for their money.
DinkerTinker1 3 weeks ago
@DinkerTinker1
That is, the public who have money
romancandlefight 3 weeks ago
@romancandlefight As I see it: if we taught people the value of self-responsibility and about the value of living on less than they earn. There would be no need for big governments or hugh social wellfare programs. Taxes are needed, because the majority of people (I hate to say it) are stupid and naive with money. That is why we have to pay high taxes in all developed countries (I´m swedish and not american, but Sweden is a high tax country). To some extent we need to pay taxes for police etc.
DinkerTinker1 3 weeks ago
@DinkerTinker1
Well I expect the people who have little money are the ones who value it the most. Rather than being naive, they are easily taken advantage of because they are the most desperate. There are so many situations where it benefits the powerful to beguile the powerless, that something like government welfare programs (including education) and a progressive tax system (in and of itself effective) are necessary to divert the return to feudalism (also saving the economy)
romancandlefight 3 weeks ago
If we had more people like Buffet in the "1%", we'd be prosperous still.
redreaper2020 3 weeks ago
More then the % of what they had to pay i would like to know the dollar amount they paid in. Also why not just lower the middle class tax rate to the capitol gains level.I would love if people would leave OTHER PEOPLES MONEY alone.I will give all respect to Mr. Buffet on his ability to build his wealth and the people who intrust him with there money. But F.A. Hayek and Milton Friedman are true economist. Mr. Buffet is an investor with the total understanding of impulse and trend economics.
LocalLiftsGifts 3 weeks ago
One thing that I love about Warren, and it is said by many who attend his yearly conferences, is that he can describe complex ideas in the simplest language, a master communicator. As another noted here, his record of 22% per annum over the past say 50 years is unparalleled. And yes, I think he knows a thing or two about economics ;)
maple1255 3 weeks ago
@ecnerwal999 Warren Buffett graduated from Columbia University with a masters in economics you illiterate SOB.
capitalismforme 3 weeks ago
Buffett is a socialist like everyone else. I wish he would learn some basic economics before preaching marxism.
The rich invest their money. Any money stolen from the rich means less machines for the working class which means lower productivity and lower wages. We need to shut down this worthless tyrannical government, not feed it more money.
ecnerwal999 3 weeks ago
@ecnerwal999 you think Warren Buffett should learn some basic economics before doing any preaching? LMAO.. Your first Paragraph throws your credibility straight out the window. Buffett's record speaks for itself. Best you keep your opinion to yourself, until you have proven yourself like Warren has.
aussietuff 3 weeks ago
@aussietuff Buffett is a brilliant capital-allocator. He's not an economist. He is a professional investor. Economics and business valuation are two completely different things. He is a terrible economist though, actually he's not one at all.
I have been buying gold for years and the price of gold has returned more than Buffett has recently. So my record is pretty good.
ecnerwal999 3 weeks ago
@ecnerwal999 as somebody has already replied to you, no need to add anymore.
aussietuff 3 weeks ago
Too bad he can not run for prez
IzzySpeaks 3 weeks ago