Stop coddling the super-rich: Buffett

The icing on the cake comes when you factor in the Cost of Goods Transport all over the US is slashed 75%, then we're talking REAL TURKEY. And Real Take-home Pay for truck drivers.

You're here... for truth? Hmm. You might offend somebody, but the good news => there exists a way to escape being poorly judged just do like Bill Gates. Offend someone ya just go make amends to strangers in some other country! haha Fixed that!

I love love love that idea--an angel for CURRENT. And I have a-not-so-hidden agenda because I want a job there! Anybody listening? Eight years experience as a reporter! Anyone?

Marcy, I like him too. There's a documentary on cable now about the financial crisis and he was the man all those bankers looked to for help. He's worth billions, but like Oprah he's given a lot of it away to help the next generation.

IMHO, for the majority of Americans... that nail just doesn't hurt the dog's ass enough yet to move from the sunny spot on the porch.

Yes! Amen! Pass the guns of truth!

LMAO! You are funny, justz.

we don't need a balance the budget amendment we need accountability and prosecution of fraud instead blaming politics when you continued to vote for a crook you deserve what you get

What if %age was whatever it took to balance the budget?

If you are saying that you are all for balancing the budget on the backs of the rich, then that's fine, you can have your amendment.

However, if it's 5% you guys and 50% everyone else, it's a pretty shit deal.

Hey Warren, how about this scenario: I think we had better re-define the terms wealthy and rich. Chris Rock reminded us in a comedy bit some years ago that in case we hadn't noticed, there is a difference. "Oprah is rich, he said. Warren Buffet is wealthy." To that, I add that "Anyone earning $250K today is neither.

My question (rhetorical, of course) is who came up with $250K as a line in the sand? It's been tossed back and forth now, I seriously cannot recall if it was a dumb Republican idea or a dumber Democrat idea. The gross annual income at our house is less than $45K (yes, read it carefully) and even I know that $250K is not a lot of money for say, a family of four. To me, that would be considered "cautiously comfortable" but not even close to rich. Am I way off base here? I mean, maybe I am out of touch with the elite! LOL.

But seriously, think about this. Working mothers, even those lucky enough to earn six figures, spend 1/4 of their income on child care and education for their kids, and gasoline to get them to school, and cell phones to track them, and clothes they grow out of, and health care, and a lot of the baby boomers are now taking care of their aging parents! It's a different world!

Hell, ten years ago, I earned $125K and I still had to watch my budget. And I tried to save, knowing in my gut, these dog-days were coming. Bush was spending like a mo-fo back then and any idiot could see what was coming.

My puny savings got wiped out in the market. But c'est la vie. Let's start over with a better plan. At least, if we bumped the not-so-magic number up to $1,000,000, it would be a true "shared sacrifice" as we're calling it now, on the part of "true" millionaires and not on the backs of the have-nots and the I'm-financially-OK-for-a-while demographic.
I'm just saying....

Having trouble with reading comprehension?

What do you mean?

"who came up with $250K as a line in the sand?"

Obama

The problem with your idea is most people making over 1M a year aren't making it in their paycheck. In the business world they are making the excess in options. While it's considered compensation it's not considered income. It's only an asset until it's cashed in. Then it's taxed as a capital gain at 15% rather than income at 35%.

You're right, of course. Didn't even take that into consideration. Wish Economics 101 were mandatory(and free) for every US citizen. I'd take the course in a heartbeat!

If that is true then children will be singing songs to Mr. Buffet for ages to come after his regrettable passing.

You know, you're right. But the human species is a jealous lot. In this respect, we have not evolved at all. Warren is OK in my book. I admire his contributions and achievements. and It's not his fault he's rich. At least he's trying to get a message out there to shame these pricks! Too bad they have no shame or conscience. As the good Rev. Ike used to say in true Republican style, "The only way to help the poor is not to be one of 'em." That is not Warren Buffett.

Most of those complaining have sold their souls to the likes of the Koch and DeVoss(Amway) people and could care less if people are out of work. From their perspective, they have theirs and that's all that matters. Did you see the documentary where the Koch's bought a local school board in NC and are trying to resegregate schools. Why are we just learning about this? They also gave a school in Florida 1.2 million dollars and can tell the college who to hire in their economics department. They need to be investigated. They sound a lot like Dr. Evil from Austin Powers.

At least he doesn't condone trying to bankrupt the country like those tea party folks did. I will never forget them cheering when the credit rating was downgraded.I don't care much for conservative politics or their dirty tricks and smear campaigns, but to my knowledge he's not been one of those classless gnomes that are constantly denigrating everything that helps the poor and unemployed.

Thanks, will do.

Hmm, I think there's a breakdown in communication. Are you referencing Warren Buffet or Warren Merrill? I don't read Merrill's posts as bashing of the intellectual liberals on this site (although that may be a stretch adjective) and I don't see ANY posts by Warren Buffett, so...another Warren perhaps?? Newbie in terms of general knowledge or in terms of content of this site? I am always willing to admit I'm wrong. Enlighten me.

Their not screaming about tax cuts either.

Because they shelter their wealth from taxes. You won't see them screaming for an increase in capital gains. Raising the income tax will only harm people in the 250K to 1M pay range. Taxes from those people won't put a dent in the deficit.

That's true, warren. The problem has never been the 250-1m range. It's the 1m-infinity range that is the problem.

Then again, 250-1m can certainly afford to pay a higher rate.

At the end of the day, all we have to do is end the wars and the bush tax cuts and the budget is almost perfectly in balance again.

Increasing taxes on the other two groups further than that and eliminating capital gains bonuses is just sound policy.

Let me guess. Kerry aka Heinz, for starters. And maybe Diane Feinstein?

Clearly part of the problem is they think they were elected to protect their own behinds. Can anyone tell me why Harry Reid didn't allow congress to shut down completely so that Obama could have made a few recess appointments? Last time I checked,he is majority leader.

Kerry's wife is the heiress. Remember he had to mortgage his house when he ran for prez.

Harry Reid has no control over the House.

John Kerry was born wealthy. He's a Forbes. As a kid he spent his summers at a family castle in England. He's also a descendent of the Dudley's and Winthrop's, two very wealthy old money families of Massachusetts.

He;s majority leader of the Senate. is it the House that wouldn't recess? I thought I heard Sen McConnell say that he wouldn't allow any recess appointments. That was my point. Thanks.

I stand corrected.

"Then again, 250-1m can certainly afford to pay a higher rate."

People in this range are often S type corporation small business owners. They make many of their hiring decisions one employee at a time. If you tax them more they are less likely to hire. Often their incomes are very volitile from year to year. They tend to play it safe.

Yes Reid is Majority Leader, but McConnell has kept a few GOP senators in place to conduct totally meaningless meetings and committee faux hearings and that prevents Reid from outright recessing the Senate. McConnell has played by the rule of dirty tricks from the very begining of Obama's presidency. Remember that McConnell said his priority was to make Obama a one term president on inauguration day, and he has used every dirty trick at his disposal to make that happen.

That may or may not be the case, my friend.

If you ask anyone in that range whether they should pay more taxes, the rational answer, from a selfish perspective, is always no. So you can't predict behavior based on what they say.

Further, you say that they are less likely to hire, but there isn't any EVIDENCE other than the assertion that they are careful about hiring.

The unfortunate truth is that many small businesses are small for a reason.

I work with tons of them, in my career.

Some people are secure at whatever level they succeed. In the first two years we (three partners) sacrificed significantly so we could get the company off the ground and hire people. When we ran low on cash we didn't pay ourselves. Many people wouldn't do this. Long term our turnover was low. The employees sensed there was loyalty to them.

I thought he was notorious for driving the same care he had 30 years ago and living a relatively glitzless life?

What he personally owns is unglamorous. He pays himself a relatively small salary. That's why he makes less than some of his employees. HIs extravagances are financed by his holdings. There are ways to do it.

The tea party started this mess and will not do a 180 for servicemen. The Koch bros want to start their own duchy here in the United States. From what I hear quite a few businesses are backing them in their devilish scheme to stop or repeal any progressive program passed for the last 100 years, even environmental protection.Check out ALEC and what they've been up to.

You're very wise. In the 90's the luxury tax devastated the yacht and boat industry putting a most of middle clas Americans in that industry out of work.

I hope you get plenty of work and I think you will do okay since the rich are about the only people who can afford houses. A little tax increase certainly won't stop them from buying.. Don't you think the rich should pay taxes? At the rate things are going, we'll all be cleaning up for the rich soon.

You guys are ridiculous. The yacht industry? Please.

Makes sense but that works for a few of us and not for many other segments of the work force. We have to stop thinking only of our own little mouseholes and chip away at a full size door opening. I know I sound like Obama the Compromiser now but at some point, we have to shift the balance of power and wealth in this country or we will be engaged in another f-ing Civil War.

You , not to worry. The "wealthy" will continue to want "stuff" and will always have the cash to make it happen, so you probably have more job security than you know.

LOL!

LOL! Yeah, kind of like tightening our belts by dropping out of the country club! Ha ha!

Those who ignore history are doomed to repeat it.

http://articles.baltimoresun.com/1991-06-09/business/1991160128_1_luxury-tax-yac...

You have to be kidding. What good do luxury goods do, really? Only a very small percentage of the expenditures go into middle class workers pockets. The rest is just rich people passing cash around.

A dollar is not the same, depending on where it is in the economy, and a job may or may not be producing anything of value for the community at large.

Oh yeah, and anecdotes don't count for much.

Production of these items puts people to work.

the republicans can't disobey grover norquist.

No they won't cherry.

I really think those pledge signers are a bunch of cowards that need the mob-mentality to make them feel powerful. They cannot be called leaders when they walk around with Koch rings in their noses.Anything for a buck.

Good comment. They should be working for the people, not Grover Norquist.

and Bill & Melinda Gates.

I *almost* said them. They do give a lot of money away, but I didn't say Bill Gates because how he got his money to begin with wasn't especially pure.

LOL. I think it came pretty much from the same places - not much difference. (Unless I'm missing something, like he knocked-off some old rich ladies and stole their billions? or he got it from dirty Canadian oil?)

Well, he's been the subject of a lot of antitrust litigation is what I was referring to.

Yes, I get your meaning now. There is so much of that kind of litigation in the tech business, you're right. (Bu I'm still impressed that they give so much away.) Cheers!

and Oprah Winfrey

Probably the republicns trying to pressure him into supporting their causes. They also tried that with Cuban last year.

pssst he is an atheist

i know :D

No. Just one who gets tired of being falsely flagged as one. I figured this time I'd plunge the pin in the balloon before it gets blown up.

I'm a Philanthropist~Inventor, the instructions are free. Anyone with half a knowledge of engine mechanics can convert their car engine to being a super-powerful steam engine and never stop for a fuel pump ever again. I call THAT being Wealthy.

Once all the big delivery trucks are using steam engines NOT PAID FOR FUELS everybody's life gets better. We would quickly see the price of groceries returned to what it was post-World War II. Back then $20.00 or so got ya two giant bags of groceries stuffed and overflowing.

That was because at that time gasoline was 5 cents a gallon. With my engine conversion done to the nation's tractor-trailer fleets we would be doing even BETTER THAN THAT. The cost of transporting lumber would come down and PEOPLE COULD AFFORD TO BUY BRAND NEW HOMES that would cost a fraction what they cost today.

IT WOULD BE QUITE ENJOYABLE AN EXPERIENCE, and a lot like Time Travel actually.

And oh, OPEC GOES AWAY.

Thanks for that additional info! :)

Thanks for posting the site for the op-ed piece. Sure wish that some of the commenters here had read it before shooting their mugs off. Gawd, if only they Would read what the man said.

Why?

Warren Buffet's private behavior has little to do with the issue at debate, here.

This whole, "well why doesn't he just write a check then" bullshit is clearly ducking the question.

It's the failure of the right's ability to deal with and accept reality as it is, when it disagrees with their world view, which will be the ultimate demise of our nation.

Let's hope that more people stop sticking their fingers in their ears and humming a familiar tune when they don't like what they see around them.

Well put. They're evading the question. It about all they can do.

Kinda missing his point: All the top tier should be paying more.

Hey i trust rich people more than i trust the government.

Rich people are the government.

sorry tell that to the tax collector that he wants to pay more than owed
first they will refuse it second they will tell him to put the money into foundations
spread the wealth to the poorest nations How much bribery does it take before you can feed one infant
have you listen to Bill Gates about how much he has to squander in a country before he can help one sick hungry and uneducated child ? look it up