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Thread: White House Tax Plan Would Ask More of Millionaires

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    Re: White House Tax Plan Would Ask More of Millionaires

    and then some. he does everything he can to minimize his own tax exposure; then he invests in financial insurance products whose worth will increase if tax rates go up, then he initiates a public campaign to raise tax rates.

    it's sort of like when he invests in Goldman Sachs, and then starts talking about how the government needs to bail out Goldman Sachs. Buffet isn't stupid - he's more than willing to have the government collect our money and give it to him.
    Last edited by cpwill; 09-22-11 at 11:43 PM.

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by cpwill View Post
    and then some. he does everything he can to minimize his own tax exposure; then he invests in financial insurance products whose worth will increase if tax rates go up, then he initiates a public campaign to raise tax rates.

    it's sort of like when he invests in Goldman Sachs, and then starts talking about how the government needs to bail out Goldman Sachs. Buffet isn't stupid - he's more than willing to have the government collect our money and give it to him.
    Everyone attempts to minimize their tax exposure. That is expected, and it's why Buffett argues that the rules should be changed.

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by AdamT View Post
    Everyone attempts to minimize their tax exposure. That is expected, and it's why Buffett argues that the rules should be changed.
    Do you find it a bit cynical on his part that he wants to change the law AFTER he has pulled in his billions. He has already said he is going to leave his kids very little and he is 80 worth something like $40 billion. Pretty easy to be noble and say you can take all the money I make going forward as he can't spend the money he already has.

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by washunut View Post
    Do you find it a bit cynical on his part that he wants to change the law AFTER he has pulled in his billions. He has already said he is going to leave his kids very little and he is 80 worth something like $40 billion. Pretty easy to be noble and say you can take all the money I make going forward as he can't spend the money he already has.
    I think he's been saying it for some time. I don't think he's particularly greedy. Would a greedy person pledge $30 billion to charity, as Buffett has?

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by cpwill View Post


    Buffet puts the majority of his wealth into a trust so it can't be touched, pays himself a lower income salary so he's in a lower bracket, and Berkshire Hathaway owes back taxes all the way back to 2002.

    again, Buffet pays pretty much what he decides he wants to pay. then he get's government to back his bets and people are stupid enough to buy his pap.
    References to your assertions please! Given that 3/4 of the people on this board have little to no understanding of income taxes, I would like you to put up or shut up on this assertion. Thank you.

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by upsideguy View Post
    References to your assertions please! Given that 3/4 of the people on this board have little to no understanding of income taxes, I would like you to put up or shut up on this assertion. Thank you.
    Those have all been linked here recently.

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by AdamT View Post
    I think he's been saying it for some time. I don't think he's particularly greedy. Would a greedy person pledge $30 billion to charity, as Buffett has?
    Why not. He is not going to give it to his kids. So unless he wants to have his funeral in a spaceship what is he going to do with the $30 billion?

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by 1Perry View Post
    Yes it was......That in no way defeats the arguement that he does everything he can to avoid paying taxes and then complains he isn't forced to pay enough.
    Why should he pay more in taxes than he has to?

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by drz-400 View Post
    Why should he pay more in taxes than he has to?
    One shouldn't, unless they are complaining that they do not pay enough.

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by AdamT View Post
    Everyone attempts to minimize their tax exposure. That is expected, and it's why Buffett argues that the rules should be changed.
    you miss the point - Buffet is arguing that tax rates should go up in ways that will not cost him a dime in taxes, but will bring him tons in profits. Buffet isn't arguing for self-sacrifice, he's arguing that we should sacrifice for him.

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