The rich, meanwhile, often evade higher rates by making increased use of deductions and other legal tax shelters. Moreover, higher rates tend to encourage Congress to add new deductions to the tax code.
The history of tax-rate increases shows that they seldom produce much revenue. Their principal effect is to make higher taxes on the poor and the middle class more palatable. In fact, because of inflation and real growth of the economy, in just a few years tax rates originally imposed on the rich often apply to those with middle incomes.
Most importantly, singling out the super-rich distracts from the real problem: the myriad policies that make no sense in the first place because they inhibit economic growth and that simultaneously redistribute from low-income households to the middle and upper classes.
Focusing on the super-rich also fosters a counterproductive attitude toward material success. The way to promote a hard-working, entrepreneurial and innovative society is to celebrate great wealth so long as it has been earned by legitimate means. When this is not the case, policy should target the wrongdoing directly, not demonize everyone who hits it big.
@florianalexbaaden "counterproductive attitude toward material success." Raising the tax on those highest on the economic ladder by a fair amount will not discourage any sane man or woman from becoming a multimillionaire.That is absurd. Raising the tax on the very wealthy may not be the end all be all answer we are looking for, but it may be a part of it. Neither you or I know for sure because it's all speculation as is most of economics I, quite frankly, don't think it's such a bad idea.
@oreion69 Economics is not an exact science. However, the fact that you believe that it is based purely on speculation shows a blatant lack of understanding for it. I never posited that it would "discourage them" from making wealth, I merely argue that it presents a counterproductive environment for doing so. In which case, large businesses and wealthy individuals will seek to circumscribe or escape that environment as they tend to do during periods of heavy government regulation.
@florianalexbaaden I said most of economics is speculation and not all of it. Economist across the country make a slew of claims about slew of issues and MOST of them turn out to be wrong.Furthermore, a counterproductive attitude discourages the activity for something. For example, if I had a counterproductive attitude towards reading than that attitude would discourage me from reading derrpp da derrp derr derr da derr.
@oreion69 Pardon my misstatement about all economics. Regardless, you are still mistaken. Many people call themselves economists. Few have a real understanding of its principles. The true study economics is simply not based on mostly speculation. In fact, it's principles are based on reoccurring trends backed by real statistics. If you had studied it in any capacity, you would know this. Yes, certain economic theories are highly speculative. That is why they are called "theories".
@oreion69 In the end, your opinion is based more on speculation and generalization than fact or true understanding. The fact is, we CAN and DO know certain things through analysis and study of economic principles. Many "economists" simply tend to ignore them. One of the most basic is that tax-rate increases almost always produce negative effects because they discourage spending in the private sector (what really drives the economy) and produce very little significant revenue.
@florianalexbaaden Well then ,the government can just use the new tax revenue to spend on government programs which create jobs. These newly created jobs will then redistribute the wealth from the sticky fingered rich into the hands of the splurging poor spinning the wheels of the economy and encouraging spending. There you go. See, I can foretell the future too because I have an education and therefore Einsteins IQ.I value Warren Buffets opinion over yours any day of the week.
@oreion69 Additionally, your correlation regarding attitude is flawed. I was not speaking of one's own attitude towards something. I was speaking of another's attitude towards a certain group. In which case said group has the choice to remove themselves from the unfavorable environment created by it. The group is not necessarily forced accept the unfavorable environment and has the choice to seek a more favorable one. This is what happens in a free market global economy.
@florianalexbaaden the way to promote a hard-working, entrepreneurial society is to feed and educate the people in it. what does "celebrating great wealth" even mean? is there a metric for that? is that measurable? i would think a real economist would base one's theory on hard facts, not some murky, anecdotal phrase.
That is only about 2% of federal spending. And $73 billion is optimistic; the super-rich will avoid or evade much of the surcharge, significantly lowering its yield.
The first problem with Buffett's view is that the number of super-rich is too small for higher rates to make much difference to our budget problems. In 2009, the income earned by the 236,833 taxpayers with more than $1 million in adjusted gross income was about $727 billion. Imposing a 10% surcharge on this income would generate at most $73 billion in new revenue.
Buffett is wrong. Bad government policies play a major role in generating inappropriately high incomes, but singling out the super-rich is misguided. And the policy Buffett criticizes most — low tax rates on capital income — should be expanded, not eliminated.
sorry this scumbags lifestyle won't change a BIT..so whats the difference to an ass kisser like BUFFET..no difference...the guy is a FRAUD just like OBAMA..vote this thug out in 2012..save america
@jmjfanss You are against the direct election of US Senators? Your side will lose a lot of people with that type of thinking. Are you for poll taxes, too?
@jmjfanss You still didn't state your position on the direct election of US Senators. As far as eleminating the entire federal government? Do you mean get rid of the military, too? You can always improve something, but going to extremes is dangerous. I say "fix things, but do them carefully and deliberatly."
They can tax the rich, but the money will not even make a scratch in the nearly 15 trill black hole of debt....I think we are now up to every man, women and child in the US now owes 52,000 in taxes...... One trill, if you could spend 750,000 in a 24 hour period, every day for 4000 years, that is around 1 trill...It would take roughly 60,000 years at 750,000 per day to get nearly 15 trill.....
Another youboob. No friends. no subs, no comments, no original videos, name caller, especially no picture because you are afraid, and of course NO TALENT. :)
The Republicans starting using the term "Death Tax" to frame the way the public would think about this issue. It wasn't farmers and small business owners who got the Republicans to end this tax, it was billionaires. I'm sure Democrats are guilty of this kind of intellectual dishonesty; it's just that the Republicans are MUCH better at it.
@BlameRepublicans You're the guy that claimed in a private email to me you were a Federal Law Enforcement Officer. I don't think so.I think it was a cheap attempt to try to scare me. If you are I guess we are in worst shape then I thought but I don't think so. I think you are a loser with a capital L. Claiming to be any type of law enforcement officer is a felony in any state. Oh I saved the email- would anyone like too see it?
I would be scared, except it's OK for me to "claim" to be a law enforcement officer b/c I am one! You keep whining to me about "get a job" and I was telling you I had one. Sorry I frightened you, that was not my intent. If you are so fragile - perhaps you should not troll on YT
@yaler94 gottchem3 is a douche bag who still lives at home. He's never worked a day in his worthless life and knows nothing of the real world. LOL. Fuck him. Here's to him dying in a house fire.
Already have a job - work for the Fed. Well paid too. How's working at Wal-Mart going for ya? What I don't understand is why you poor people defend the rich. Why?
@yaler94 You must have graduated from the Yale lock school of 94. "I myself" is a poor use of English, but maybe they didn't teach that in lock school.
Buffett-Look at me. I am so rich that I can cheat the system. Most of my income is taxed as long term capitol gains ~15%... Isn't anyone pissed off by that?
Liberal- He's such a great guy for making that point. As distasteful as Mr. Buffett's exploitation of tax code is, we thank him for bringing the problem to light.
Conservative- That commie should put his money where his mouth is and give it all to uncle sam... Or a homeless guy. Same difference. Better yet... make a huge bon fire.
Write a check, Buffett. Send it in to the black hole that is the US Treasury and encourage all the other millionaires to put their money where their mouth is and do the same.
Enough with all the Grandstanding - write a check and send it in today.
LOL as you type on a computer which would not exist if not for your government over a network of computers that would not exist if not for your government, hell - you probably wouldn't know how to communicate in English if not for a public school, and you certainly couldn't do so with a key board. I'm so tired of you worthless little whiney cock-sucking punks who cry about the "poopy" government. If not for your government - private industry would have sold you bones for calcium powder by now.
Hey Buffett: Please, please, please, just give all your friggen $ away right now you stupid wiseass. Don't start some "non-profit" to give it away, just start writing checks for a 5 million $'s apeice to folks on welfare and don't stop writing till your broke. THEN SHUT THE HELL UP. Or, write a check to the Treasury for 50 billion and then SHUT UP.
Ha-ha!!! I love listening to all the "gonna be rich some day" MORONS talk trash against Buffett. The man is right, you greedy slobs are wrong, and you are KILLING AMERICA. LOL suck it, idiots.
Buffett is working to clean up his image after the insider trading PR disaster. He's as crooked as the rest. It's easy to work for reduced coddling of his own kind after he's made his billions from low rates and loopholes galore. Wonder why he didn't bring this up about a decade ago? Low character.
@charadester Ha-ha you right wing dirt bags hate it when you get bitch slapped by the rich. He's nailed spot on. Time to tax the rich and end their welfare. Tax them now or else America will die!
@BlameRepublicans America is already dead because of deadbeats like you. Try looking at the numbers of income vs outgoing. You could take a way every privately owned dime and we still couldn't balance the budget, we spend too much ,we are borrowing too much. Get your head out of Barney Franks ass and start looking at hard numbers. Oh and get a job and start paying some taxes.
"America is already dead because of deadbeats like you..." LOL so you think I'm a multi millioniare who votes GOP to avoid paying taxes??? Not so much. I'm a combat veteran of the US Army, a college graduate and a Federal Law enforcement officer who pays his taxes and appreciates his government. Once you are done sucking the rich man's cock hang up your knee pads (or return them to your mother) and we'll talk "hard numbers" lol you are a fucking waste of time!
The man has no credibility in my opinion.....he got filthy rich off the system and now as he nears death he criticizes the system......sounds like he definitely has an agenda here
Idiot - he got rich off the system and is stepping up to save it. You MORONS just don't get it do you? Tax cuts are toxic, end them now. If you knew better than Buffett wouldn't you be richer than him? OWNED.
@BlameRepublicans Yeah Obama is definitely doing a fine job....unemployment goes from 7% to 9% under his fine guidance....as faras Buffett, he is almost dead and he is simply feeling guilty for being a greedy man all his life...now at the end he thinks advocating for the very thing he was against will redeem him.....and by the way......why are you so angry ?......is your life really that bad, because angry people are always disatisfied with their lives.
Why doesn't Buffett give his wealth to the Gov, pay more taxes, stop using loopholes, hire students to tutor in our failing schools, start a zero-interest small business loan program, open soup kitchens, use his charity $ in the US instead of in foreign countries to gain access & power? Funny how he wants to prevent others from getting to his level. He got bailed out on WFC & GS by Bush & Obama. He benefits from excess regulations, weak antitrust, & death tax even tho he plans on paying ZERO.
@BurnOutXL The US has allowed capitalism to get out of hand with deregulation(screw your buddy...and a deal is a deal...we shook on it). You should be more worried about the countries ability to return to reasonable fiscal health and being able to remove the burden of extreme debt as opposed to your having a chance at becoming super rich(the Chinese would love you).
@BlameRepublicans What r u, illiterate? No comprende? Instead of insulting people, try digesting the content of their commentary. The point is that WB is full of $hit! He has been 1 of the biggest beneficiaries of corporate cronyism, regulations, Gov loopholes & largess @ our expense. He owns $BILLIONS in tax-free Gov debt, too. BTW, in 2009, 51% of Americans paid ZERO income tax. Obama's political mouth piece CNBC & rest of peacock family, owned by GE which paid ZERO taxes 2010.
@BurnOutXL If you are for Ron Paul ,than please work hard on being informed. Ron Paul isn't a partisan fool because he forms his own ideas and opinions. I don't agree with all of them, but I imagine he doesn't get his information by watching Fox News or MSNBC or CNN. BOTH parties are corrupt. We don't know if WB is a hypocrite, but he was the FIRST billionaire to testify before Congress and educate the American people. In the late 1990's the Republicans began pushing to repeal the estate tax.
Warren Buffet is a globalist puppet of the elite and a member of the council on foreign relations which are making plans for world government, wake up
VOTE RON PAUL 2012.
Even if you don't disagree with his policies, you have to vote for him to save america from the new world order.
@jmjfanss He has been very consistent with the things he says and with his voting record in Congress. There are a few things about him I don't like, but I don't want to wait until the summer of 2012 to get involved with our political system. People shouldn't wait around for a savior. The one promissing thing about our political climate is that there's an opportunity for citizens from MULTIPLE political perspectives to unite. If this doesn't happen we will get screwed again.
Shut the fuck up Buffet. You've made $50 BILLION!!! You're the last person to come out with this patronising waffle! Stop trying to be like those brain dead rappers who make out they're just like the poor man in the hoods, despite the fact they've got millions in the bank and solid 94 carat gold teeth. Either enjoy being rich, pipe down and don't patronise the poor, or lead by example and donate more to the taxman.
@MosherMike "Stop trying to be like those brain dead rappers who make out they're just like the poor man in the hoods..."
I can't remember the last time I heard a rapper pretending to be poor. Aren't they doing the opposite, pretending to be rich when they're up to their necks in debt?
I am guessing, but I think its a good observation. The budget doesn't really need to generate more income from taxes but be more responsible with spending. In my opinion we are over obligated internationally. What happened with balancing the budget. Do you run around with an unbalanced checkbook spending your money on whatever and at the end of the month see if you have enough money to meet your spending!
@1coffeecup It is true that we should decrease spending, but spending never became an issue until Mr. Obama was elected president. Furthermore, why not tax the super wealthy? US corporations that are generating lots of cash(....APPLE) are sending jobs to other countries to take advantage of cheap labor. Then, they bring the products back to the US to sell to US consumers(that are enrolling into entitlement programs...welfare), you know, the people that lost their jobs to laborers in Asia.
You can't fix theft by taxing thieves. Buffet's investments are getting bailed out and govt. contracts and he is going to be "responsible" by paying taxes.
Now we hear it from someone who's super wealthy. President Obama has been trying to say this for the longest. But, the Tea Party zealots and Republicans fight passing a revenue bill...What strikes me the most is that the majority of the so called "Wal Mart" Republicans don't even make 250k or more a year....So, why do they complain, they won't be taxed at all.
This guy is my new hero. If people were honest they'd have to admit that in many, many cases luck is as much a factor in people having wealth as hard work is. And if they had any conscience they'd willingly pay more taxes as responsible people who have benefited from the hard work of people AROUND them more than their own work. So I agree with Buffett: STOP CODDLING THE RICH!!
@williamlaughs You're right man. Sam Walton(mr. consolidation). Bill Gates/Paul Allen, Lawrence Ellison, Michael Dell, Steve Jobs and now Mark Zuckerburg(a wired world...cloud computing). They all came along with ideas that simply generated cash over night. Others may have had the same ideas, but they were the first to introduce those ideas and that is all that matters. So much for all of the hard work.
@kevinramonejones7 What amazes me most is these greedy guys in Congress have the public so completely fooled. They aren't for "old fashioned Christian values." They're simply for making the rich richer. But they can work people up by playing on their fears. But I think this is actually the death rattle of the republican party. In a few decades the minority vote will be much more significant and people will only vote for greedy old white guys for so long.
I grew up around Mr Buffett. He is a good man with a balanced approach, something alien to the extreme agendas going around Washington today. He is fiscally conservative yet socially conscience. Like many people in Omaha they realize the coin has two sides!
Buffett owns life insurance companies that rely on the death tax in order to sell their estate-planning businesses. Buffett made about a billion dollars off of the Wall Street bailout by investing in Goldman Sachs on the assumption Uncle Sam would bail it out. He also is planning investments in ethanol giant ADM and government-contracting leviathan General Dynamics. If your businesses’ revenue comes from the U.S. Treasury, of course you want more wealth.
There is only 1 reason that he would do this. He is a SHARK and all he needs is to take some bussiness to the brink of collasp and turn around and buy it up. Rockafella did this during the last depression. Lets be real unemployment is greater now than during the 30s. It has nothing to do with money , but everything to do with POWER.Besides Milhouse O seems to think that 250 thousand dollars is a millionair. Theres more to the picture than suits the eye.
It's pretty entertaining to watch you republiscum/teabagger goobers try to vilify Buffett's honest evaluation It's ESPECIALLY entertainingto watch you try to defend MORE tax cuts millionaires and billionaires.
This is simple confirmation that repubnliscum and teabaggers arereally and actually RETARDED.
two interesting facts: (1) starting in 1980, the top marginal tax rate fell from 70% to a low of 30% (2) I'm not sure what to make of this, but the U.S. population grew by about 50 million from 1980 to 2000.
who made warren buffett jisus, HE ONLY FEEDS OF THE POOR, every time they only talk about taxing rich BUT AT THE END IT IS POOR THAT PAY, SO WARREN STICK IT IN YOUR ASS
I honestly think most americans are so stupid they have yet to learn percents, decimals, or fractions. So, if they hear "tax the top .03%", they think, "Oh my lord, oh lord, jesus, you write a check if you want... don't volunteer my monies!" Dude's got 500 dollars in the bank and probably scratches his ass at lowes for a living.
I think Warren Buffet is one off the smartest American's.He is still a fake and phoney. Keep your mouth shut and write the check you feel you need to pay..
@gottchem3 how exactly is Buffet a phony? also what kind of advice is "write the check you feel you need to pay", that is NOT how it works in society, you are suppose to pay into the system according to what you pulled OUT of the system. when you earn more from society you should pay more to maintain it, it's as simple as that, but the lot of you manipulated fools won't even listen when the RICH tell you they are paying too little in taxes. WAKE UP dumb Americans, Republicans are LYING TO YOU.
@truthslap I take it back. He is a typical liberal phoney. Wants to tell other people how to spend their money.My advice it write the check is the US Treasury accepts voluntary payments. If he feels he is under taxed he can write a check that will alleviate his guilt.
@gottchem3 I'm really tired of you people who resort to ad hominom attacks. Buffett's argument in the NYT is rock solid, and the vast majority of the American public knows he is telling the truth. If you think his argurment is weak then you should debate the logic of his argument. A very small percentage of Americans have benefited from tax, trade, and banking legislation of the last thirty years. Average Americans are being treated like citizens of third world countries.
@dontchastop He is a hypocrite. Words are words ,they mean nothing. All that counts are actions. You are obviously too stupid or a Democrat to understand. Lead by example and not words. If you feel you are not taxed enough write a check to the US Treasury and then let everyone know you did it. If you don't understand this I'll write it in Crayon and mail it to you..
@gottchem3 Again, your tactic is ad hominom attacks.I'm quite knowledgable about this topic and I don't give a damn what names you call me. The top 1% of Americans have profited enormously from the last 30 years of gov policies, and with this increased wealth has come increased political power. This increased power is the reason why our political system is so fucked up.Have you even read the op ed from the NYT? Do you disagree with his ARGUMENT? If not, then most will see through your rhetoric.
@gottchem3 other people? Buffett is addressing two parties, neither of which you or anybody you know is a part, that is the top levels of Federal Government and the top 1/10th of 1% of this economy. Buffett, being one of the wealthy elite who EXPERIENCES preferential tax treatment, is telling the government to cease pandering to people like him who can and would gladly pay their fair share if asked. Buffett writing a check would NOT change the relationship between the super-rich and government.
@gottchem3 fantastic rebuttal sir, I don't know why I ever tried matching wits with you. you conservatives are fantastic at staying on topic, addressing the facts and using historical examples, well done.
My God, if this was done it would help, the tea party and republicans will kill this idea, and the democrats will just stand silent like they are told to.
@nic190 You're such a moron, stop being a balls wiper for .03 percent.. they don't need your stupid ass, and some probably find it creepy when you hide in their bushes and sniff their dirty underwear. We all know you're nowhere near the top .03 percent at anything, except the dumbest most retarded human beings.
@jimbot3 I was replying to "nic190". nic190 is in the top .03 percent most retarded. Hope this answers your questions. I hope there was no missunderstanding.
He's a cheap old man. He buys companies and then makes them make products cheap as possible. He took over Fruit of the Loom and now their socks wear out in a day, literally! Let's see him send in a check to the govt. for $5 Billion, then I might believe him. Until then, he's just blowing old man farts.
@ObowMao666 well the goal is to make money, i do agree i hate shit products but if your primary goal is to make money, you will not give a dam about the quality as long as people still buy it.
@titannews1 look, I hate the Mega Rick also but if we raise his taxes, he's gonna get angry...you wouldn't like him when he's ANGRY. I'm just being a dick, I know what you mean :)
@gottchem3 Rick Perry is a GOP canidate. And your right no one really likes him. Google him and read a couple of things about him. And you will see why.
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The rich, meanwhile, often evade higher rates by making increased use of deductions and other legal tax shelters. Moreover, higher rates tend to encourage Congress to add new deductions to the tax code.
florianalexbaaden 6 months ago
The history of tax-rate increases shows that they seldom produce much revenue. Their principal effect is to make higher taxes on the poor and the middle class more palatable. In fact, because of inflation and real growth of the economy, in just a few years tax rates originally imposed on the rich often apply to those with middle incomes.
florianalexbaaden 6 months ago
@florianalexbaaden So hey, what do you think about cutting taxes on the rich?
oreion69 5 months ago
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florianalexbaaden 6 months ago
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florianalexbaaden 6 months ago
Most importantly, singling out the super-rich distracts from the real problem: the myriad policies that make no sense in the first place because they inhibit economic growth and that simultaneously redistribute from low-income households to the middle and upper classes.
florianalexbaaden 6 months ago 3
Focusing on the super-rich also fosters a counterproductive attitude toward material success. The way to promote a hard-working, entrepreneurial and innovative society is to celebrate great wealth so long as it has been earned by legitimate means. When this is not the case, policy should target the wrongdoing directly, not demonize everyone who hits it big.
florianalexbaaden 6 months ago
@florianalexbaaden "counterproductive attitude toward material success." Raising the tax on those highest on the economic ladder by a fair amount will not discourage any sane man or woman from becoming a multimillionaire.That is absurd. Raising the tax on the very wealthy may not be the end all be all answer we are looking for, but it may be a part of it. Neither you or I know for sure because it's all speculation as is most of economics I, quite frankly, don't think it's such a bad idea.
oreion69 6 months ago
@oreion69 Economics is not an exact science. However, the fact that you believe that it is based purely on speculation shows a blatant lack of understanding for it. I never posited that it would "discourage them" from making wealth, I merely argue that it presents a counterproductive environment for doing so. In which case, large businesses and wealthy individuals will seek to circumscribe or escape that environment as they tend to do during periods of heavy government regulation.
florianalexbaaden 6 months ago
@florianalexbaaden I said most of economics is speculation and not all of it. Economist across the country make a slew of claims about slew of issues and MOST of them turn out to be wrong.Furthermore, a counterproductive attitude discourages the activity for something. For example, if I had a counterproductive attitude towards reading than that attitude would discourage me from reading derrpp da derrp derr derr da derr.
oreion69 6 months ago
@oreion69 Pardon my misstatement about all economics. Regardless, you are still mistaken. Many people call themselves economists. Few have a real understanding of its principles. The true study economics is simply not based on mostly speculation. In fact, it's principles are based on reoccurring trends backed by real statistics. If you had studied it in any capacity, you would know this. Yes, certain economic theories are highly speculative. That is why they are called "theories".
florianalexbaaden 6 months ago
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florianalexbaaden 6 months ago
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florianalexbaaden 6 months ago
@oreion69 In the end, your opinion is based more on speculation and generalization than fact or true understanding. The fact is, we CAN and DO know certain things through analysis and study of economic principles. Many "economists" simply tend to ignore them. One of the most basic is that tax-rate increases almost always produce negative effects because they discourage spending in the private sector (what really drives the economy) and produce very little significant revenue.
florianalexbaaden 6 months ago
@florianalexbaaden Well then ,the government can just use the new tax revenue to spend on government programs which create jobs. These newly created jobs will then redistribute the wealth from the sticky fingered rich into the hands of the splurging poor spinning the wheels of the economy and encouraging spending. There you go. See, I can foretell the future too because I have an education and therefore Einsteins IQ.I value Warren Buffets opinion over yours any day of the week.
oreion69 5 months ago
@oreion69 Additionally, your correlation regarding attitude is flawed. I was not speaking of one's own attitude towards something. I was speaking of another's attitude towards a certain group. In which case said group has the choice to remove themselves from the unfavorable environment created by it. The group is not necessarily forced accept the unfavorable environment and has the choice to seek a more favorable one. This is what happens in a free market global economy.
florianalexbaaden 6 months ago
@florianalexbaaden the way to promote a hard-working, entrepreneurial society is to feed and educate the people in it. what does "celebrating great wealth" even mean? is there a metric for that? is that measurable? i would think a real economist would base one's theory on hard facts, not some murky, anecdotal phrase.
SimAlex20000 5 months ago
Bad government policies play a major role in generating inappropriately high incomes, but singling out the super-rich is misguided.
florianalexbaaden 6 months ago
That is only about 2% of federal spending. And $73 billion is optimistic; the super-rich will avoid or evade much of the surcharge, significantly lowering its yield.
florianalexbaaden 6 months ago
The first problem with Buffett's view is that the number of super-rich is too small for higher rates to make much difference to our budget problems. In 2009, the income earned by the 236,833 taxpayers with more than $1 million in adjusted gross income was about $727 billion. Imposing a 10% surcharge on this income would generate at most $73 billion in new revenue.
florianalexbaaden 6 months ago
Buffett is wrong. Bad government policies play a major role in generating inappropriately high incomes, but singling out the super-rich is misguided. And the policy Buffett criticizes most — low tax rates on capital income — should be expanded, not eliminated.
florianalexbaaden 6 months ago
sorry this scumbags lifestyle won't change a BIT..so whats the difference to an ass kisser like BUFFET..no difference...the guy is a FRAUD just like OBAMA..vote this thug out in 2012..save america
wogdoggy 6 months ago
Sorry warren buffett, but peter schiff owned your ass.
jmjfanss 6 months ago
End the Income Tax, IRS, The 16th & 17th amendment, The Federal Reserve and more, that's what we need.
jmjfanss 6 months ago
@jmjfanss Why in the world would you be against the 17'th amendment to The Constitution?
dontchastop 6 months ago
@dontchastop
Because it's unconstitutional and worthless.
jmjfanss 6 months ago
@jmjfanss You are against the direct election of US Senators? Your side will lose a lot of people with that type of thinking. Are you for poll taxes, too?
dontchastop 6 months ago
@dontchastop
Get rid of the federal government as a whole.
jmjfanss 6 months ago
@jmjfanss You still didn't state your position on the direct election of US Senators. As far as eleminating the entire federal government? Do you mean get rid of the military, too? You can always improve something, but going to extremes is dangerous. I say "fix things, but do them carefully and deliberatly."
dontchastop 6 months ago
@dontchastop
Sorry, buy they have to go.
we need to get back to the U.S. Constitution.
jmjfanss 6 months ago
WARREN BUFFET IS A RICH OLD QUEER JUST LIKE MALCOLM FORBES, WAS.
ts53shea 6 months ago
Buffet is a poor man. He never contributed to society, except making money which is taken from others. When he dies nothing is left except money.
franxon 6 months ago
They can tax the rich, but the money will not even make a scratch in the nearly 15 trill black hole of debt....I think we are now up to every man, women and child in the US now owes 52,000 in taxes...... One trill, if you could spend 750,000 in a 24 hour period, every day for 4000 years, that is around 1 trill...It would take roughly 60,000 years at 750,000 per day to get nearly 15 trill.....
avionicswirenut 6 months ago
@Inoitspointless
Another youboob. No friends. no subs, no comments, no original videos, name caller, especially no picture because you are afraid, and of course NO TALENT. :)
btwall60 6 months ago
The Republicans starting using the term "Death Tax" to frame the way the public would think about this issue. It wasn't farmers and small business owners who got the Republicans to end this tax, it was billionaires. I'm sure Democrats are guilty of this kind of intellectual dishonesty; it's just that the Republicans are MUCH better at it.
dontchastop 6 months ago
hell yeah, way to go for saying that Warren!
divineoblivion1 6 months ago
TAX the rich now -OR-
We kill them later.
Simple :-)
BlameRepublicans 6 months ago
@BlameRepublicans You're the guy that claimed in a private email to me you were a Federal Law Enforcement Officer. I don't think so.I think it was a cheap attempt to try to scare me. If you are I guess we are in worst shape then I thought but I don't think so. I think you are a loser with a capital L. Claiming to be any type of law enforcement officer is a felony in any state. Oh I saved the email- would anyone like too see it?
gottchem3 6 months ago
I would be scared, except it's OK for me to "claim" to be a law enforcement officer b/c I am one! You keep whining to me about "get a job" and I was telling you I had one. Sorry I frightened you, that was not my intent. If you are so fragile - perhaps you should not troll on YT
BlameRepublicans 6 months ago
@gottchem3 keep the emails..if you have a problem with this thug let me know.hopefully the idiot made a threat against you
wogdoggy 6 months ago
@wogdoggy I've already been contacted,but thanks.
gottchem3 6 months ago
@gottchem3 stop trolling douchebag. I myself am a Democrat, and proud of that. Come at me.
yaler94 6 months ago
@yaler94 gottchem3 is a douche bag who still lives at home. He's never worked a day in his worthless life and knows nothing of the real world. LOL. Fuck him. Here's to him dying in a house fire.
BlameRepublicans 6 months ago
@BlameRepublicans You guys are losing. Pretty soon you'll have to get a job.
gottchem3 6 months ago
Already have a job - work for the Fed. Well paid too. How's working at Wal-Mart going for ya? What I don't understand is why you poor people defend the rich. Why?
BlameRepublicans 6 months ago
@gottchem3 What jobs? That's the whole problem now!
ETLyrics1 6 months ago
@yaler94 You must have graduated from the Yale lock school of 94. "I myself" is a poor use of English, but maybe they didn't teach that in lock school.
gottchem3 6 months ago
@gottchem3 When all else fails - become intenesly interested in the rules of English....that's the most best post you had ever yet made yet.
BlameRepublicans 6 months ago
@titannews1 Oh shit- I'm gonna change my name from Rick
gottchem3 6 months ago
MORE TAXES = MORE GROWTH. LESS TAXES = LESS GROWTH. TEA PARTY IDIOTS PWNED.
BlameRepublicans 6 months ago
@BlameRepublicans This statement blatantly exhibits your ignorance of basic economic principles.
florianalexbaaden 6 months ago
Right - you know better than Warren Buffet? So how many billions do you have? LOL.
BlameRepublicans 6 months ago 2
Buffett-Look at me. I am so rich that I can cheat the system. Most of my income is taxed as long term capitol gains ~15%... Isn't anyone pissed off by that?
Liberal- He's such a great guy for making that point. As distasteful as Mr. Buffett's exploitation of tax code is, we thank him for bringing the problem to light.
Conservative- That commie should put his money where his mouth is and give it all to uncle sam... Or a homeless guy. Same difference. Better yet... make a huge bon fire.
NoOne3234 6 months ago
Write a check, Buffett. Send it in to the black hole that is the US Treasury and encourage all the other millionaires to put their money where their mouth is and do the same.
Enough with all the Grandstanding - write a check and send it in today.
1emailer 6 months ago
LOL as you type on a computer which would not exist if not for your government over a network of computers that would not exist if not for your government, hell - you probably wouldn't know how to communicate in English if not for a public school, and you certainly couldn't do so with a key board. I'm so tired of you worthless little whiney cock-sucking punks who cry about the "poopy" government. If not for your government - private industry would have sold you bones for calcium powder by now.
BlameRepublicans 6 months ago
Hey Buffett: Please, please, please, just give all your friggen $ away right now you stupid wiseass. Don't start some "non-profit" to give it away, just start writing checks for a 5 million $'s apeice to folks on welfare and don't stop writing till your broke. THEN SHUT THE HELL UP. Or, write a check to the Treasury for 50 billion and then SHUT UP.
btwall60 6 months ago
Ha-ha!!! I love listening to all the "gonna be rich some day" MORONS talk trash against Buffett. The man is right, you greedy slobs are wrong, and you are KILLING AMERICA. LOL suck it, idiots.
BlameRepublicans 6 months ago
@BlameRepublicans Get a job Ahole or are you from Canada?
gottchem3 6 months ago
@gottchem3 I'm from your fat mother's rancid meat cave, jack-ass! LOL
BlameRepublicans 6 months ago
Buffett is working to clean up his image after the insider trading PR disaster. He's as crooked as the rest. It's easy to work for reduced coddling of his own kind after he's made his billions from low rates and loopholes galore. Wonder why he didn't bring this up about a decade ago? Low character.
charadester 6 months ago
@charadester Ha-ha you right wing dirt bags hate it when you get bitch slapped by the rich. He's nailed spot on. Time to tax the rich and end their welfare. Tax them now or else America will die!
BlameRepublicans 6 months ago
@BlameRepublicans America is already dead because of deadbeats like you. Try looking at the numbers of income vs outgoing. You could take a way every privately owned dime and we still couldn't balance the budget, we spend too much ,we are borrowing too much. Get your head out of Barney Franks ass and start looking at hard numbers. Oh and get a job and start paying some taxes.
gottchem3 6 months ago
"America is already dead because of deadbeats like you..." LOL so you think I'm a multi millioniare who votes GOP to avoid paying taxes??? Not so much. I'm a combat veteran of the US Army, a college graduate and a Federal Law enforcement officer who pays his taxes and appreciates his government. Once you are done sucking the rich man's cock hang up your knee pads (or return them to your mother) and we'll talk "hard numbers" lol you are a fucking waste of time!
BlameRepublicans 6 months ago
The man has no credibility in my opinion.....he got filthy rich off the system and now as he nears death he criticizes the system......sounds like he definitely has an agenda here
nigelbruce232 6 months ago
Idiot - he got rich off the system and is stepping up to save it. You MORONS just don't get it do you? Tax cuts are toxic, end them now. If you knew better than Buffett wouldn't you be richer than him? OWNED.
BlameRepublicans 6 months ago
@BlameRepublicans Yeah Obama is definitely doing a fine job....unemployment goes from 7% to 9% under his fine guidance....as faras Buffett, he is almost dead and he is simply feeling guilty for being a greedy man all his life...now at the end he thinks advocating for the very thing he was against will redeem him.....and by the way......why are you so angry ?......is your life really that bad, because angry people are always disatisfied with their lives.
nigelbruce232 6 months ago
Bush murdered the economy, and you blame Obama? What's new? LOL. PWNED.
BlameRepublicans 6 months ago
Why doesn't Buffett give his wealth to the Gov, pay more taxes, stop using loopholes, hire students to tutor in our failing schools, start a zero-interest small business loan program, open soup kitchens, use his charity $ in the US instead of in foreign countries to gain access & power? Funny how he wants to prevent others from getting to his level. He got bailed out on WFC & GS by Bush & Obama. He benefits from excess regulations, weak antitrust, & death tax even tho he plans on paying ZERO.
BurnOutXL 6 months ago
@BurnOutXL The US has allowed capitalism to get out of hand with deregulation(screw your buddy...and a deal is a deal...we shook on it). You should be more worried about the countries ability to return to reasonable fiscal health and being able to remove the burden of extreme debt as opposed to your having a chance at becoming super rich(the Chinese would love you).
kevinramonejones7 6 months ago
B/C that won't fix the problem. What are you - 3? All the rich need to kick in to fix this. Not just Warren.
BlameRepublicans 6 months ago
@BlameRepublicans What r u, illiterate? No comprende? Instead of insulting people, try digesting the content of their commentary. The point is that WB is full of $hit! He has been 1 of the biggest beneficiaries of corporate cronyism, regulations, Gov loopholes & largess @ our expense. He owns $BILLIONS in tax-free Gov debt, too. BTW, in 2009, 51% of Americans paid ZERO income tax. Obama's political mouth piece CNBC & rest of peacock family, owned by GE which paid ZERO taxes 2010.
VOTE RON PAUL!
BurnOutXL 6 months ago
@BurnOutXL If you are for Ron Paul ,than please work hard on being informed. Ron Paul isn't a partisan fool because he forms his own ideas and opinions. I don't agree with all of them, but I imagine he doesn't get his information by watching Fox News or MSNBC or CNN. BOTH parties are corrupt. We don't know if WB is a hypocrite, but he was the FIRST billionaire to testify before Congress and educate the American people. In the late 1990's the Republicans began pushing to repeal the estate tax.
dontchastop 6 months ago
@dontchastop
Warren Buffet is a globalist puppet of the elite and a member of the council on foreign relations which are making plans for world government, wake up
VOTE RON PAUL 2012.
Even if you don't disagree with his policies, you have to vote for him to save america from the new world order.
jmjfanss 6 months ago
@jmjfanss He has been very consistent with the things he says and with his voting record in Congress. There are a few things about him I don't like, but I don't want to wait until the summer of 2012 to get involved with our political system. People shouldn't wait around for a savior. The one promissing thing about our political climate is that there's an opportunity for citizens from MULTIPLE political perspectives to unite. If this doesn't happen we will get screwed again.
dontchastop 6 months ago
@dontchastop
But sadly there will be an election in 2012, we are heading toward martial law and if people don't wake up, were done.
jmjfanss 6 months ago
Shut the fuck up Buffet. You've made $50 BILLION!!! You're the last person to come out with this patronising waffle! Stop trying to be like those brain dead rappers who make out they're just like the poor man in the hoods, despite the fact they've got millions in the bank and solid 94 carat gold teeth. Either enjoy being rich, pipe down and don't patronise the poor, or lead by example and donate more to the taxman.
MosherMike 6 months ago
@MosherMike "Stop trying to be like those brain dead rappers who make out they're just like the poor man in the hoods..."
I can't remember the last time I heard a rapper pretending to be poor. Aren't they doing the opposite, pretending to be rich when they're up to their necks in debt?
redlightmax 6 months ago
@MosherMike LOL don't like hearing reality, eh? LOL
BlameRepublicans 6 months ago
I am guessing, but I think its a good observation. The budget doesn't really need to generate more income from taxes but be more responsible with spending. In my opinion we are over obligated internationally. What happened with balancing the budget. Do you run around with an unbalanced checkbook spending your money on whatever and at the end of the month see if you have enough money to meet your spending!
1coffeecup 6 months ago
@1coffeecup It is true that we should decrease spending, but spending never became an issue until Mr. Obama was elected president. Furthermore, why not tax the super wealthy? US corporations that are generating lots of cash(....APPLE) are sending jobs to other countries to take advantage of cheap labor. Then, they bring the products back to the US to sell to US consumers(that are enrolling into entitlement programs...welfare), you know, the people that lost their jobs to laborers in Asia.
kevinramonejones7 6 months ago
You can't fix theft by taxing thieves. Buffet's investments are getting bailed out and govt. contracts and he is going to be "responsible" by paying taxes.
dlucas90 6 months ago
Now we hear it from someone who's super wealthy. President Obama has been trying to say this for the longest. But, the Tea Party zealots and Republicans fight passing a revenue bill...What strikes me the most is that the majority of the so called "Wal Mart" Republicans don't even make 250k or more a year....So, why do they complain, they won't be taxed at all.
ajani1000 6 months ago
This guy is my new hero. If people were honest they'd have to admit that in many, many cases luck is as much a factor in people having wealth as hard work is. And if they had any conscience they'd willingly pay more taxes as responsible people who have benefited from the hard work of people AROUND them more than their own work. So I agree with Buffett: STOP CODDLING THE RICH!!
williamlaughs 6 months ago
@williamlaughs You're right man. Sam Walton(mr. consolidation). Bill Gates/Paul Allen, Lawrence Ellison, Michael Dell, Steve Jobs and now Mark Zuckerburg(a wired world...cloud computing). They all came along with ideas that simply generated cash over night. Others may have had the same ideas, but they were the first to introduce those ideas and that is all that matters. So much for all of the hard work.
kevinramonejones7 6 months ago
@kevinramonejones7 What amazes me most is these greedy guys in Congress have the public so completely fooled. They aren't for "old fashioned Christian values." They're simply for making the rich richer. But they can work people up by playing on their fears. But I think this is actually the death rattle of the republican party. In a few decades the minority vote will be much more significant and people will only vote for greedy old white guys for so long.
williamlaughs 6 months ago
Repeal Gramm-Leach-Bliley and reinstate the Glass Steagall. Get it together, washington, or you're gonna have some pissed off people on your hands.
turkeysub3000 6 months ago
I grew up around Mr Buffett. He is a good man with a balanced approach, something alien to the extreme agendas going around Washington today. He is fiscally conservative yet socially conscience. Like many people in Omaha they realize the coin has two sides!
azothdaco 6 months ago 7
This has been flagged as spam show
Buffett owns life insurance companies that rely on the death tax in order to sell their estate-planning businesses. Buffett made about a billion dollars off of the Wall Street bailout by investing in Goldman Sachs on the assumption Uncle Sam would bail it out. He also is planning investments in ethanol giant ADM and government-contracting leviathan General Dynamics. If your businesses’ revenue comes from the U.S. Treasury, of course you want more wealth.
vechorik 6 months ago
There is only 1 reason that he would do this. He is a SHARK and all he needs is to take some bussiness to the brink of collasp and turn around and buy it up. Rockafella did this during the last depression. Lets be real unemployment is greater now than during the 30s. It has nothing to do with money , but everything to do with POWER.Besides Milhouse O seems to think that 250 thousand dollars is a millionair. Theres more to the picture than suits the eye.
myself49fyi 6 months ago
It's pretty entertaining to watch you republiscum/teabagger goobers try to vilify Buffett's honest evaluation It's ESPECIALLY entertainingto watch you try to defend MORE tax cuts millionaires and billionaires.
This is simple confirmation that repubnliscum and teabaggers arereally and actually RETARDED.
Well done, filth. Well done.
JesusCreeping 6 months ago
@JesusCreeping Jesus would never use that term.
gottchem3 6 months ago
@gottchem3
Jesus ain't here. Your point is, goober?
JesusCreeping 6 months ago
@gottchem3
Don't much give a damn if Jesus would use that word or not.
Don't much give a damn if that word is "politically correct" or not.
Got a job, goober.
JesusCreeping 6 months ago
two interesting facts: (1) starting in 1980, the top marginal tax rate fell from 70% to a low of 30% (2) I'm not sure what to make of this, but the U.S. population grew by about 50 million from 1980 to 2000.
superchode11 6 months ago
JUST do IT WARREN be all you CAN be
2013skywalker 6 months ago
GREAT IDEA , PUT UP YOU DOLLARS WARREN give up your 55% of the cash
2013skywalker 6 months ago
Just proves he's a very intelligent person!
friskyrik 6 months ago
who made warren buffett jisus, HE ONLY FEEDS OF THE POOR, every time they only talk about taxing rich BUT AT THE END IT IS POOR THAT PAY, SO WARREN STICK IT IN YOUR ASS
2013skywalker 6 months ago
I honestly think most americans are so stupid they have yet to learn percents, decimals, or fractions. So, if they hear "tax the top .03%", they think, "Oh my lord, oh lord, jesus, you write a check if you want... don't volunteer my monies!" Dude's got 500 dollars in the bank and probably scratches his ass at lowes for a living.
tooosweeet 6 months ago
@tooosweeet Another prime example of all the money we spend on the education system.
gottchem3 6 months ago
I think Warren Buffet is one off the smartest American's.He is still a fake and phoney. Keep your mouth shut and write the check you feel you need to pay..
gottchem3 6 months ago
@gottchem3 how exactly is Buffet a phony? also what kind of advice is "write the check you feel you need to pay", that is NOT how it works in society, you are suppose to pay into the system according to what you pulled OUT of the system. when you earn more from society you should pay more to maintain it, it's as simple as that, but the lot of you manipulated fools won't even listen when the RICH tell you they are paying too little in taxes. WAKE UP dumb Americans, Republicans are LYING TO YOU.
truthslap 6 months ago
@truthslap I take it back. He is a typical liberal phoney. Wants to tell other people how to spend their money.My advice it write the check is the US Treasury accepts voluntary payments. If he feels he is under taxed he can write a check that will alleviate his guilt.
gottchem3 6 months ago
@gottchem3 I'm really tired of you people who resort to ad hominom attacks. Buffett's argument in the NYT is rock solid, and the vast majority of the American public knows he is telling the truth. If you think his argurment is weak then you should debate the logic of his argument. A very small percentage of Americans have benefited from tax, trade, and banking legislation of the last thirty years. Average Americans are being treated like citizens of third world countries.
dontchastop 6 months ago
@dontchastop He is a hypocrite. Words are words ,they mean nothing. All that counts are actions. You are obviously too stupid or a Democrat to understand. Lead by example and not words. If you feel you are not taxed enough write a check to the US Treasury and then let everyone know you did it. If you don't understand this I'll write it in Crayon and mail it to you..
gottchem3 6 months ago
@gottchem3 Again, your tactic is ad hominom attacks.I'm quite knowledgable about this topic and I don't give a damn what names you call me. The top 1% of Americans have profited enormously from the last 30 years of gov policies, and with this increased wealth has come increased political power. This increased power is the reason why our political system is so fucked up.Have you even read the op ed from the NYT? Do you disagree with his ARGUMENT? If not, then most will see through your rhetoric.
dontchastop 6 months ago
@gottchem3 other people? Buffett is addressing two parties, neither of which you or anybody you know is a part, that is the top levels of Federal Government and the top 1/10th of 1% of this economy. Buffett, being one of the wealthy elite who EXPERIENCES preferential tax treatment, is telling the government to cease pandering to people like him who can and would gladly pay their fair share if asked. Buffett writing a check would NOT change the relationship between the super-rich and government.
truthslap 6 months ago
@truthslap Another glittering jewel of ignorance.
gottchem3 6 months ago
@gottchem3 fantastic rebuttal sir, I don't know why I ever tried matching wits with you. you conservatives are fantastic at staying on topic, addressing the facts and using historical examples, well done.
truthslap 6 months ago
@gottchem3 What part of the universe are you from? Let me guess. Minnesota?
kevinramonejones7 6 months ago
@kevinramonejones7 No, I'm from the Universe we're we work for a living and don't get a government check like you.
gottchem3 6 months ago
jackass - he can't fix the system on his own, all the rich need to man the fuck up and pay what they owe. Moron.
BlameRepublicans 6 months ago
My God, if this was done it would help, the tea party and republicans will kill this idea, and the democrats will just stand silent like they are told to.
chuck3377 6 months ago
he should give his money to the goverment ,if he fells hes not paying enough.
nic190 6 months ago
@nic190 You're such a moron, stop being a balls wiper for .03 percent.. they don't need your stupid ass, and some probably find it creepy when you hide in their bushes and sniff their dirty underwear. We all know you're nowhere near the top .03 percent at anything, except the dumbest most retarded human beings.
tooosweeet 6 months ago
Who's retarded? I am sure you are very knowledgeable about the intelligence of Warren Buffett.
jimbot3 6 months ago
@jimbot3 I was replying to "nic190". nic190 is in the top .03 percent most retarded. Hope this answers your questions. I hope there was no missunderstanding.
tooosweeet 6 months ago
@tooosweeet Only Democrats use this type of language.
gottchem3 6 months ago
He's a cheap old man. He buys companies and then makes them make products cheap as possible. He took over Fruit of the Loom and now their socks wear out in a day, literally! Let's see him send in a check to the govt. for $5 Billion, then I might believe him. Until then, he's just blowing old man farts.
ObowMao666 6 months ago
@ObowMao666 well the goal is to make money, i do agree i hate shit products but if your primary goal is to make money, you will not give a dam about the quality as long as people still buy it.
911sanitarium 6 months ago
@titannews1 look, I hate the Mega Rick also but if we raise his taxes, he's gonna get angry...you wouldn't like him when he's ANGRY. I'm just being a dick, I know what you mean :)
marco39120 6 months ago
@marco39120 Who is this guy Rick and why does everyone hate him.
gottchem3 6 months ago
@gottchem3 Rick Perry is a GOP canidate. And your right no one really likes him. Google him and read a couple of things about him. And you will see why.
yaler94 6 months ago
Warren Buffett is the man for steppin up like that. SWAG
marco39120 6 months ago
Warren Buffett has swag.
12GaugeMage 6 months ago 10
@12GaugeMage he also has lots of SWAG.
kxmode 6 months ago
@kxmode Warren Buffet is the definition of SWAG
fredsiika1 6 months ago