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White House Tax Plan Would Ask More of Millionaires

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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.
 
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?
 
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?
 
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.
 
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?

it will stay with whatever trust / other tax shelter he can put it in.

this is the ridiculous thing about those who complain about the wealthy and taxes in measurements of their wealth - were Buffet to ever attempt to actually liquidate his wealth, much of it would disappear.
 
it will stay with whatever trust / other tax shelter he can put it in.

this is the ridiculous thing about those who complain about the wealthy and taxes in measurements of their wealth - were Buffet to ever attempt to actually liquidate his wealth, much of it would disappear.

Nonsense. His wealth largely consists of Berkshire Hathaway stock. Berkshire is as blue chip as they come -- easily fungible.
 
One shouldn't, unless they are complaining that they do not pay enough.

So basically applying your logic no one can argue to raise taxes. It's a circumstantial ad hominem.
 
So basically applying your logic no one can argue to raise taxes. It's a circumstantial ad hominem.

Sure they can. And if they are not fighting against paying the taxes they currently owe and do everything they can to avoid paying taxes I might take them seriously. There are serious arguements one can make to raising revenue.
 
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.

he's smart, he is gaining wealth while having the libs kiss his ass and sing his praises
 
Sure they can. And if they are not fighting against paying the taxes they currently owe and do everything they can to avoid paying taxes I might take them seriously. There are serious arguements one can make to raising revenue.

So their argument depends upon their personal circumstances. That is an ad hominem by definition.
 
So their argument depends upon their personal circumstances. That is an ad hominem by definition.

"Their"? We are talking about one person. I can not speak concerning "their" situations as I do not know what they are.
 
"Their"? We are talking about one person. I can not speak concerning "their" situations as I do not know what they are.

Ok, lets get specific, you are saying you do not take warren buffets tax argument seriously because of his personal circumstances.
 
Ok, lets get specific, you are saying you do not take warren buffets tax argument seriously because of his personal circumstances.

I don't take his argument seriously at all since I see no logic in sending more money to this Congress that helped create the 14.6 trillion dollar debt and in fact just raising taxes on the rich doesn't provide a lot of value in any area. Until the govt. gets serious about cutting the deficit then let the American people keep their money.
 
Ok, lets get specific, you are saying you do not take warren buffets tax argument seriously because of his personal circumstances.

Yes. I do not take serious his desire to pay more taxes.
 
Yes. I do not take serious his desire to pay more taxes.

its sort of like what carnegie did. He supported the Union movement in the steel industry and the liberals praised him. But what that did is drive up the cost of labor for less well financed steel makers and they folded. carnegie bought them up, and then crushed the unions
 
Yes. I do not take serious his desire to pay more taxes.

So his argument that many millionaires/billionaires such as himself enjoy a lower average tax rate than many of his lower paid employees because of the tax advantages of capital gains taxes/payroll taxes is not serious because that would mean he would have to pay more taxes.
 
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a great discussion of Obumble's Buffett bull crap

Return of the real Obama - The Washington Post



But this is more than a political calculation. It is more than just a pander to his base. It is a pander to himself: Obama is a member of his base. He believes this stuff. It is an easy and comfortable political shift for him, because it’s a shift from a phony centrism back to his social-democratic core, from positioning to authenticity.

The authentic Obama is a leveler, a committed social democrat, a staunch believer in the redistributionist state, a tribune, above all, of “fairness” — understood as government-imposed and government-enforced equality.
 
its sort of like what carnegie did. He supported the Union movement in the steel industry and the liberals praised him. But what that did is drive up the cost of labor for less well financed steel makers and they folded. carnegie bought them up, and then crushed the unions

Your right, I'm just a gullible idiot. Warren Buffet is going to crush me by paying a higher effective tax rate.
 
Nonsense. His wealth largely consists of Berkshire Hathaway stock. Berkshire is as blue chip as they come -- easily fungible.

yes and no. his wealth is the current value of his Berkshire Hathaway stock. attempting to sell off a serious portion of it would drive down the price of that stock as it was being sold. When you realize that Berkshire Hathaway's value in turn is based on the stock that it owns, the problem compounds. It's not like someone out there is sitting on $30 Bn in cash that they would trade Buffet for his stock. That's the thing about the "wealth" of the really wealthy - it's all tied up in businesses, buildings, innovations, etc. - they can't really access it in the same way that (for example) I could go tomorrow and empty my savings account.
 
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So his argument that many millionaires/billionaires such as himself enjoy a lower average tax rate than many of his lower paid employees because of the tax advantages of capital gains taxes/payroll taxes is not serious because that would mean he would have to pay more taxes.

No, I said his arguement was correct BUT his supposed desire to pay more is not. Being that he is full of crap, I do not take his arguement seriously. To prove that, I'm betting we do not actually see a raise in capital gains ever hit the hill.

I also said, if it does, I'll say I was wrong and support it. I reserve the right to not support the bill it may be attached to though.
 
yes and no. his wealth is the current value of his Berkshire Hathaway stock. attempting to sell off a serious portion of it would drive down the price of that stock as it was being sold. When you realize that Berkshire Hathaway's value in turn is based on the stock that it owns, the problem compounds. It's not like someone out there is sitting on $30 Bn in cash that they would trade Buffet for his stock. That's the thing about the "wealth" of the really wealthy - it's all tied up in businesses, buildings, innovations, etc. - they can't really access it in the same way that (for example) I could go tomorrow and empty my savings account.

Another irony with Buffet. As many know a large portion of Berkshire's worth is based on the stocks he has bought over time. A big portion of his portfolio is in financial stocks with which Obama has a jihad. American Express, Bank of America, Goldman Sachs, General Electric. In addition he has a huge derivative position on the stock market although he has called derivatives financial weapons of mass destruction.
 
he's smart, he is gaining wealth while having the libs kiss his ass and sing his praises

he's the biggest loser this year on the top 10 list - maybe betting on corporatism wasn't so brilliant after all. we can only hope.
 
Another irony with Buffet. As many know a large portion of Berkshire's worth is based on the stocks he has bought over time. A big portion of his portfolio is in financial stocks with which Obama has a jihad. American Express, Bank of America, Goldman Sachs, General Electric. In addition he has a huge derivative position on the stock market although he has called derivatives financial weapons of mass destruction.

Obama has a jihad against the financial stocks?

..... how did Obama vote when we decided to bail these institutions out, again? When Buffet bought into Goldman Sachs and then petitioned the Government to ensure his bet would succeed, Obama was against that? Obama has a Jihad against General Electric? Is that why it's CEO is one of his chief advisers, and they are allowed to get away with paying no taxes (instead getting a nice check courtesy of U.S. Taxpayer)?
 
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