Buffett, that is. He's the super-rich guy who's been wondering aloud why America continues to coddle the super-rich. I think his call for an increased tax on the wealthy is way over due.
I know we're supposed to feel sorry for the poor, put-upon rich and their tax burden. The local Tea Party's website points to this striking statistic in an article on the American Enterprise Institute's website:
"The wealthiest 1 percent of the population earn 19 percent of the income but pay 37 percent of the income tax. The top 10 percent pay 68 percent of the tab. Meanwhile, the bottom 50 percent—those below the median income level—now earn 13 percent of the income but pay just 3 percent of the taxes."
So the bottom half of earners is bringing home 6% less of the total Americans earn than the top 1%. And that's equitable? And remember, aside from "earnings," that top 1% controls even more vast amounts of weath in the form of investments, etc. that aren't taxed as income.
And as for the "job creator" nonsense. Where are the jobs if these wealthy people are so busy creating them?
there is nothing stopping anyone from paying MORE when they file their taxes. It used to be a volunteer system. So, I would say that if he wants to give ALL his income and all the billionaires want to give 100% of ALL their income, that would not even reach the amount of spending in one week. It makes no sense to tax them more when it does nothing to create a job. How can taking money from billionaires for more government spending create a private sector job? that is what the country needs. Not more revenue for spending. We need jobs! And how about the 51% of working age Americans that pay ZERO income taxes and in fact most of those receive "REFUNDS" on income taxes that they DIDN'T pay. Make everyone PAY income taxes. How about Fair Tax? National Sales Tax would balance the budget immediately and within 10 years bring the debt down in half!
They are getting hammered by policies that in turn create volatility in the market Joe. When your class warfare stops, the markets will turn and the eeeeeeeevil rich will create jobs. Everybody will benefit, except the freeloaders.
Jobs have been created. Technically. What we're short on is careers.
Ya know those those, "vast amounts of wealth in the form of investments, etc."... That's where they're creating jobs. Those investments don't earn a dividend w/o someone using it to make something that sells for a profit. Take those, "vast amounts of wealth in the form of investments, etc." away and there go the jobs.
Just love it when Gubermint takes $10 bucks from me, pockets $5, hires a democrat hack w/t rest to lean on a ready shovel or shout me down at a tea party, which ever better serves their purpose, and tells me they're doing me a favor. Riiiight...
The big hole in Warren Buffet's complaint is that higher taxes will not effect him or any other super rich individual. Higher taxes only impact people who want to become super rich, by increasing the hurdles to get there.
I love that secretary story of his, the bleeding heart ought to pay her more if he really was so strongly about the inequity. Even the Buffet is capable of Rhetoric.
Dirty White Boy
Oh great here we go again, this gets old watching democrats create misery on the American citizens and then blame others for all the problems they started. I see once again joey is following that talking point mantra by blaming the Taxed Enough Already crowd (which by the way is filling up with new democrats tired with democrats) Like they (TEA party) possibly are the reason anything is going wrong with America? What a flippin pile of horse crap you spew on your dumb down crowd of sheep joey.
Mr multi billionaire buffet is more than welcome to send in all that money of his at no charge, to the government. He doesn't need a new law or tax code to do it. And lets just say that obomba could take all that money from billionaires? What's he gonna do with it? Create more gov. agencies to buy more votes? Pay down the debt? Create more shovel ready jobs? Are they gonna balance the budgets? Spend less to save us more in less taxes?? "HELL NO!" to all of them, except the first statement, obomba will spend it in ways that only benefit him, he's proven that in just 3 short years of going against the majority of Americans on all his ideology.
I almost want to take sides with you joey because my common sense tells me that if you tax the uber rich even more than they are paying now, you will have a catastrophic collapse of America, and people would (possibly) see that democrats and their policies of more money, more money, oh God give us more money cannot be sustained. Billionaires are the only thing currently holding it together now you fool, If they don't voluntarily send in all that extra money to government right now that means they don't want to send it in (democrat buffet included), and if you piss off and ego like they must have by demanding they give you more and demonizing them, I think the bird will be flipped very soon, It's half way up right now from the obomba democrat threats the past 3 years, it's un American to spread the wealth around by force.
I just LOVE class warfare!! It's so,. . . anti-American.
Because Warren Buffet says something and it's parroted by EVERY liberal from here to kingdom come does NOT make it true. WB, B Gates and others who make this ridiculous statement are lying out their @$$es and here's why:
INCOME TAXES are paid by those that earn a salary and or paycheck FROM AN EMPLOYER. This can be taxed up to 37%. That includes all of us BUT the super rich like WB, BG and others.
CAPITOL GAINS TAXES are what WB, BG and the other super rich are paying on their fortunes because they are living off PREVIOUSLY TAXED MONIES AND INVESTMENTS. This tax rate is about 20%. The secretary is likely ALSO paying capitol gains taxes on any investments she has along with EVERYONE ELSE who has a 401K or other money in the stock market (provided they have made any money lately). The U.S. has some of the highest CG taxes in the industrialized world.
This total BS comparison is apples to paint cans. You'll also note that WB, BG and many others are, at the same time, wanting capitol gains taxes lowered. Hmmmmm which type of taxes are they paying again??
This comparison is as disingenuous as the president saying "I will not rest until every American has a job that wants a job",. . . two hours before he leaves on a 12 day all expense paid vacation to Martha's Vineyard. . .
Wake up people!!
Joe the liberal loon said, "And as for the “job creator” nonsense. Where are the jobs if these wealthy people are so busy creating then?"
I knew you were politically misguided, but I didn't think you were also a total MORON. I'll give an example and break it down "Barney-style" so even a purple dinosaur could understand. . .
Say Mr. Buffet decides he wants a new yacht (he has one you know), this evil, rich guy plunks down around $30M for that 120 footer say, from San Juan Yachts in Anacortes. That simple purchase employs 100+ folks in all areas of the ship building trades for about 2 full years during construction. **JOB CREATION ALERT** These jobs are not entry level positions either; these are skilled tradesman, engineers, etc. Since SJY does not build it's own electronics, engines etc, outside vendors from all over the U.S. and beyond get orders to fill the yacht. This gives a reason for workers in all those vendor businesses to remain on the payroll rather than be laid-off. **JOB CREATION ALERT**
To build a single, evil yacht for one of these rich scoundrels, ends up employing hundreds of people making real family wages for years. These workers in turn spend their money at the store like anyone else which (individually) on a smaller scale, does the exact same thing; creating demand on the free market and goods are built, shipped, stocked and sold. **JOB CREATION ALERT** All employing thousands at this point.
But wait, there's more. . .
This yacht costs on average 20% of the purchase price PER YEAR to maintain and operate (that is the typical formula that holds true with big yachts). Therefore the owner has to hire a full-time captain, chef and crew (typically about 7 real people) that live aboard the vessel 24-7. **JOB CREATION ALERT** Then it has to be at a marina, so it keeps those employees employed rather than being laid-off. **JOB CREATION ALERT** That means until the boat is sunk, it cost approx $6M+ per year to operate. All that money goes right back into the economy. **JOB CREATION ALERT**
All this economic activity happens because ONE evil, rich SOB decided he wanted to flaunt his wealth and buy a big yacht. Well flaunt away if you ask me. By simply plunking down some cash for a "toy" he just guaranteed employment for literally a thousand people or more. . . It doesn't get more simpler than this.
But wait, there's STILL more. . .
The same thing happens when this SOB decides he wants a Lear jet (**JOB CREATION ALERT**), or a few fancy cars (**JOB CREATION ALERT**), or a couple vacation homes (**JOB CREATION ALERT**), or stays in a fancy hotel (**JOB CREATION ALERT**). Every time these evil rich people open their wallets and spend excessively (by your standards) they ARE putting real people to work **JOB CREATION ALERT**.
This is probably going to fall onto deaf ears, but that as simply as I can explain how MORONIC your statement is about "where is the job creation". Joe, you could really help yourself "appear" a whole lot smarter if you would turn off the white house and uber-left talking points and educate yourself on how an economy ACTUALLY works.
I hate to break it to ya, but we NEED rich people in the economy. Their purchases are usually the genesis of a lot of the rest that happen down the line.
Ah certainly fyal edumacated. Anywun elsez hyars feelin edumacated? :P
We should all be called names more and told how stupid and crazy we are so we can go over to the regressive right wing way of thinking. See where this stragedy might be falling short?
"You stupid fn idiot liberal democrat blablah! We're tryin to do whats best for ya!"
More Vinegar than Honey there I'd say. I don't think you'll have Joe's ear until you can quit trying to bite it off.