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Warren Buffet fightiiiing!
Small times TL experts with their lack of an education have cute little opinions sometimes :D
Come on guys. This guy is not an imbecile.
On August 17 2011 07:00 Kaitlin wrote:Show nested quote +On August 17 2011 06:53 BuddhaMonk wrote:On August 17 2011 06:48 Kaitlin wrote:On August 17 2011 06:43 xXFireandIceXx wrote:On August 17 2011 06:41 Megatronn wrote:
If he's so concerned why doesn't he just give his money away to some poor families? o.o Oh my god. He's donating his money already. And he's donating 99% of his wealth when he dies. He's talking about what he thinks would benefit the US as a nation. Stop acting like he's some selfish man, cuz he's not. According to his statements that the rich should pay more taxes to the government, the fact that he's donating 99% of his wealth to charity when he dies is hypocritical. By donating to charities that HE favors, he denies the government about 60% of his wealth that would have been paid in estate taxes had he not made that selfish decision himself and left it to the government's better judgment. So your argument is that he's selfish because he's giving away 99% of his wealth? LOL We're talking about what happens when he dies. I don't know what religion you are, but short of re-incarnation, 100% of everyone's wealth is "given away" when they die. He is preventing the government from getting it's cut of 60% even though his comments call for the rich to pay more. He is being quite hypocritical by demonstrating the exact opposite, that he wants to control how his money is spent, instead of the government.
A government too incompetent tax him properly may not deserve his money. Plus, he's talking about the system, not just himself.
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On August 17 2011 06:58 TheFrankOne wrote:Show nested quote +On August 17 2011 06:53 Megatronn wrote:On August 17 2011 06:50 canikizu wrote:On August 17 2011 06:41 Megatronn wrote:
If he's so concerned why doesn't he just give his money away to some poor families? o.o Give a man a fish and you feed him for a day. Teach a man to fish and you feed him for a lifetime. It doesn't matter how much money he gives away, if it's not distributed right (ie via tax to infrastructure, education,v.v..v.), it's a waste of money. Buffet has always been my hero. So we should get rid of wellfare because that's basically giving someone their fish, right? I am gonna get hated so much in this thread ^^. Brb popcorn. You're blatantly trolling, its obnoxious. While taxing the rich more will not immediately solve the debt problem, changing the tax structure can help job creation. Low capital gains taxes just encourage dividend payouts over job creation and investment by executives.
Someone gets it. Lowering taxes and getting rid of regulations will decrease the cost of doing business in the US, which will promote job growth. Why do you think China is growing so fast? The cost of doing business over there is less than in the US.
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On August 17 2011 06:57 hacpee wrote:Show nested quote +On August 17 2011 06:50 BuddhaMonk wrote:On August 17 2011 06:44 Megatronn wrote:On August 17 2011 06:43 TurpinOS wrote:On August 17 2011 06:41 Megatronn wrote:
If he's so concerned why doesn't he just give his money away to some poor families? o.o That is a totally different issue, what does ''having money'' have to do with pointing out failures of a complete system. He's basically saying the rich should be taxed, the debt will go down and jobs will be made, right? If he cares so much why doesn't he give his money away to people that he thinks need/deserve it? He has pledged to give away roughly $30 billion dollars when he dies. Do a little research before you talk please. Most of that will be tax free. That means he is cheating the government in billions of dollars in estate taxes by giving it to a charity. The proper question is, if Buffet feels that his taxes are too low, why doesn't he just donate the proper amount to the IRS?
Cheating the government? You realize that there's a reason why charitable donations are tax free right? It's not because it's some loophole, it's because society has determined that it's a good thing to donate to charity. The fact that you think he's cheating the government out of money by donating to charity makes me question whether you have any real understanding of the issues.
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On August 17 2011 07:00 Kaitlin wrote:Show nested quote +On August 17 2011 06:53 BuddhaMonk wrote:On August 17 2011 06:48 Kaitlin wrote:On August 17 2011 06:43 xXFireandIceXx wrote:On August 17 2011 06:41 Megatronn wrote:
If he's so concerned why doesn't he just give his money away to some poor families? o.o Oh my god. He's donating his money already. And he's donating 99% of his wealth when he dies. He's talking about what he thinks would benefit the US as a nation. Stop acting like he's some selfish man, cuz he's not. According to his statements that the rich should pay more taxes to the government, the fact that he's donating 99% of his wealth to charity when he dies is hypocritical. By donating to charities that HE favors, he denies the government about 60% of his wealth that would have been paid in estate taxes had he not made that selfish decision himself and left it to the government's better judgment. So your argument is that he's selfish because he's giving away 99% of his wealth? LOL We're talking about what happens when he dies. I don't know what religion you are, but short of re-incarnation, 100% of everyone's wealth is "given away" when they die. He is preventing the government from getting it's cut of 60% even though his comments call for the rich to pay more. He is being quite hypocritical by demonstrating the exact opposite, that he wants to control how his money is spent, instead of the government.
whether you find his actions good or not, do you think he has a point that rich people in the US should pay more taxes than they do at the moment? That's what this thread is about...
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I'm libertarian, and I agree that cutting tax rates for the super-rich as Bush did, and Obama has continued, shouldn't have been a top priority.
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On August 17 2011 07:02 mathemagician1986 wrote:Show nested quote +On August 17 2011 07:00 Kaitlin wrote:On August 17 2011 06:53 BuddhaMonk wrote:On August 17 2011 06:48 Kaitlin wrote:On August 17 2011 06:43 xXFireandIceXx wrote:On August 17 2011 06:41 Megatronn wrote:
If he's so concerned why doesn't he just give his money away to some poor families? o.o Oh my god. He's donating his money already. And he's donating 99% of his wealth when he dies. He's talking about what he thinks would benefit the US as a nation. Stop acting like he's some selfish man, cuz he's not. According to his statements that the rich should pay more taxes to the government, the fact that he's donating 99% of his wealth to charity when he dies is hypocritical. By donating to charities that HE favors, he denies the government about 60% of his wealth that would have been paid in estate taxes had he not made that selfish decision himself and left it to the government's better judgment. So your argument is that he's selfish because he's giving away 99% of his wealth? LOL We're talking about what happens when he dies. I don't know what religion you are, but short of re-incarnation, 100% of everyone's wealth is "given away" when they die. He is preventing the government from getting it's cut of 60% even though his comments call for the rich to pay more. He is being quite hypocritical by demonstrating the exact opposite, that he wants to control how his money is spent, instead of the government. whether you find his actions good or not, do you think he has a point that rich people in the US should pay more taxes than they do at the moment? That's what this thread is about...
No.
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EDIT: To stem the tide, of "why doesn't he just give his money away then" comments, Mr. Buffett's has already willed his fortune to The Bill and Melinda Gates Foundation upon his death. Every penny he earns now, he earns for future charity.
Oh great, he gives all his money to other billionaire who is known to want to reduce population, supports the global warming scam and keeps all his money in a charity foundation so it can't be taxed. Ooo this Warren Buffett guy must be an angel in disguise, supporting Bil Gates another mega rich in his global warming scam and population reduction.
I hate these hypocrites who put all their money in these supposed "charity" organizations and go on teach small children around the world about population control. And best of all, those billions of dollars can't be taxes since they've transferred all their money into tax exempt non profit organizations.
User was banned for this post.
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1980-2000, possibly the best era of financial and business prosperity in the United States, covers 4 administrations.
1 year of Jimmy Carter (20 days)
8 years of Ronald Regan (8 years)
4 years of George Bush Sr. (4 years)
8 years of Bill Clinton. (7 years, 345 days)
In total, that's 8 years of Democrats and 12 years of Republicans.
I find it interesting how you have morphed that analysis into an argument against the Republican establishment. It's not at all, and I'm amazed that you call 2 op-ed pieces "firing back." When arguably the most successful investor in the history of the world takes a bold and controversial stance on the major issues of the day, people can and will weigh in.
I'm not saying you're wrong, mind you. I agree with Buffet, and I agree with you to a certain extent, but let's not stick this to one party. The Dems have just as much to do with the current situation we are in (financial crisis, exploding executive reimbursements, shaky banks) as the GOP.
P.S. Buffet has already pledged away many of his billions of dollars upon his death. In the meantime, he will continue to manage this money because (honestly) nobody else can do it better.
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It's funny how those attacking Buffet for "cheating" the government out of estate taxes are blatantly ignoring the actual point that the richest in the U.S. actually pay the least amount in taxes as a percentage of their wealth.
Ignore the message, attack the messenger.
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United States7483 Posts
On August 17 2011 06:46 FoeHamr wrote:
don't richest people in this country pay the most taxes already?
No, not at all, at least not relative to the total amount of money they earn. They pay the least in taxes.
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I would rather we hold the people in Washington wasting our money accountable before we agree to any more in new taxes, for anyone.
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On August 17 2011 06:57 hacpee wrote:Show nested quote +On August 17 2011 06:50 BuddhaMonk wrote:On August 17 2011 06:44 Megatronn wrote:On August 17 2011 06:43 TurpinOS wrote:On August 17 2011 06:41 Megatronn wrote:
If he's so concerned why doesn't he just give his money away to some poor families? o.o That is a totally different issue, what does ''having money'' have to do with pointing out failures of a complete system. He's basically saying the rich should be taxed, the debt will go down and jobs will be made, right? If he cares so much why doesn't he give his money away to people that he thinks need/deserve it? He has pledged to give away roughly $30 billion dollars when he dies. Do a little research before you talk please. Most of that will be tax free. That means he is cheating the government in billions of dollars in estate taxes by giving it to a charity. The proper question is, if Buffet feels that his taxes are too low, why doesn't he just donate the proper amount to the IRS?
Because 30 billion won't help the budget basically at all ? Whereas higher taxation of rich people actually will ?
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Both Ronald Reagan And Clinton Pushed for Higher taxes, and forced the rich to spend their money or be taxed on it. Clinton ended up creating 23 million HIGH PAYING JOBS(Then he decided to throw away the gay manufacturing jobs to mexico) Bush2 pushed for 2 rounds of tax cuts, and only made 3 million low-average paying jobs while at the same time bankrupting the federal gov't. he then blames clinton for thorwing away the manufacturing jobs.
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On August 17 2011 07:05 Whitewing wrote:Show nested quote +On August 17 2011 06:46 FoeHamr wrote:
don't richest people in this country pay the most taxes already? No, not at all, at least not relative to the total amount of money they earn. They pay the least in taxes.
The top 1% pay around 38% of the taxes and the top 10% pay around 70%. This is hardly the least.
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On August 17 2011 07:05 Whitewing wrote:Show nested quote +On August 17 2011 06:46 FoeHamr wrote:
don't richest people in this country pay the most taxes already? No, not at all, at least not relative to the total amount of money they earn. They pay the least in taxes.
As long as you don't count the half of the population who don't pay any.
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Buffet is awesome. People be hatin' on the basis of tribal identity, not policy. Man's asking to pay higher taxes - in tandem with other billionaires - and people are asking why doesn't he just give it away? That's just stupid as dirt. Because he thinks other rich deadbeats should pay their fair share!
This thread has finally convinced me: TL General = trolls and morons. Back to Tech Support, where people give a rat's ass.
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On August 17 2011 06:58 TheFrankOne wrote:Show nested quote +On August 17 2011 06:53 Megatronn wrote:On August 17 2011 06:50 canikizu wrote:On August 17 2011 06:41 Megatronn wrote:
If he's so concerned why doesn't he just give his money away to some poor families? o.o Give a man a fish and you feed him for a day. Teach a man to fish and you feed him for a lifetime. It doesn't matter how much money he gives away, if it's not distributed right (ie via tax to infrastructure, education,v.v..v.), it's a waste of money. Buffet has always been my hero. So we should get rid of wellfare because that's basically giving someone their fish, right? I am gonna get hated so much in this thread ^^. Brb popcorn. You're blatantly trolling, its obnoxious. While taxing the rich more will not immediately solve the debt problem, changing the tax structure can help job creation. Low capital gains taxes just encourage dividend payouts over job creation and investment by executives.
The executives you want to tax are going to start investing? I'm not trolling this time it just sounds weird to me.
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Please stop arguing if he's a hypocrit and how he might or might not pay as much taxes as he should. You miss the point.
His (very valid) point is: The US tax system is not fair. Espacially given the huuuge debt crisis a significant change had to be made. Yet the republicans refused to let it happen, simply because they're always against tax raises and they always support the rich people.
For me - as a foreigner - it is absolutely incomprehensible, why the tax rates for richest people are still so extremly low, not even to mention tax rates for companies. How can it be, that even Apple alone sits on more money in their bank account than the whole US government?!? Those people should pay more taxes.
Just to give a reference: I'm living in Germany. If you gain more than ~65.000$ you have to pay 42%, in the US you pay 25%. Changes need to be made!
That's the point Buffett is referring to.
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On August 17 2011 07:07 trainRiderJ wrote:Show nested quote +On August 17 2011 07:05 Whitewing wrote:On August 17 2011 06:46 FoeHamr wrote:
don't richest people in this country pay the most taxes already? No, not at all, at least not relative to the total amount of money they earn. They pay the least in taxes. As long as you don't count the half of the population who don't pay any.
To be fair, its around 48% 
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On August 17 2011 07:04 Rybka wrote:
1980-2000, possibly the best era of financial and business prosperity in the United States, covers 4 administrations.
1 year of Jimmy Carter (20 days)
8 years of Ronald Regan (8 years)
4 years of George Bush Sr. (4 years)
8 years of Bill Clinton. (7 years, 345 days)
In total, that's 8 years of Democrats and 12 years of Republicans.
I find it interesting how you have morphed that analysis into an argument against the Republican establishment. It's not at all, and I'm amazed that you call 2 op-ed pieces "firing back." When arguably the most successful investor in the history of the world takes a bold and controversial stance on the major issues of the day, people can and will weigh in.
I'm not saying you're wrong, mind you. I agree with Buffet, and I agree with you to a certain extent, but let's not stick this to one party. The Dems have just as much to do with the current situation we are in (financial crisis, exploding executive reimbursements, shaky banks) as the GOP.
P.S. Buffet has already pledged away many of his billions of dollars upon his death. In the meantime, he will continue to manage this money because (honestly) nobody else can do it better.
Bush number one actually messed up many things and unemployment was rising again...
heres some bad financial years in history: Panic of 1870 something(ulysses grant, REPUBLICAN)
Great Depression: Herbert Hooover REPUBLICAN
Stagflation: Nixon
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EPT
