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Warren Buffet: 'Trickle Down' Theory Doesn't Work

TurtleDude said:
if a chinese plane got blown up and the PLA could trace that to some country I suspect the country would cease to exist
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Depends on where that country was and who it was.

China would not nuke it, and the chinese ability to project power more then a couple thousand miles from its boarder is still limited
 
apdst said:
Nice dodge. Good for you!

So, are you going to tell us what the alternative to trickle down economics is? Or just fillibuster about Canada getting it's ass kicked in every war it's ever been in?
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Canada has never lost a war it has been in. Heck we even burned down the White house ( admitedly we were not an independant nation at the time)

Trickle down economics or Vodoo economics or Supply side economics is a theory of economics brought into the US during the Reagan admin. It failed then as it relied on Keynsian economics to make it work, just as it fails now when the debts of both the people of the US and the government of the US no longer allow for stimulus to work.

I suggest going back to the economic theory of hard work, saving at least 5% of your income for retirement and minimising debt
 
Albert Di Salvo said:
For some reason the portion of your post appearing above creates the mental image of a young lady in a pith helmet with an elephant gun.
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You should check out the history of laura secord and you would not be too far off (minus the pith helmet)
 
Lord Tammerlain said:
Canada has never lost a war it has been in. Heck we even burned down the White house ( admitedly we were not an independant nation at the time)
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If you credit Canadians to burning down the White House, even though they were apart of the United Kingdom at the time, then do you also consider them to have lost the war of 1812? Either they have lost a war or didn't burn down the White House. Anyways, nationalism is stupid and foolish. People are people regardless of what country they live in.
 
TurtleDude said:
I guess you didn't read very well-her claim that I admitted that the rich are crooks was moronic and stupid

and your comments that are based on your inability to understand that fact renders the rest of your blather worthless.


and yes envy is the main motivation of most of the "tax the rich more" nonsense that is spewed on these boards. In Kali's case it is patently obvious
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Really? Really? Can you explain yourself here? Just to fill you in on something you may not be aware of? I come from money and I suggest that in the future you know what the hell you are talking about.
 
TurtleDude;1059126478[B said:
]I called her claim moronic and idiotic.[/B] That is beyond any doubt based on what i SAID and how she INTERPRETED IT. She might well be a world renowned expert on amphibian reproduction or rocket propulsion. Some people are experts on some issues and completely ignorant on others.

YOu on the other hand make posts about ME rather than what I SAY.
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You said it in a way that was a personal attack
 
Lord Tammerlain said:
Trickle up of course

A strong middle class is the strength of any country, not a strong upper class. A strong middle class provides a good consumer base, political stability and overall economic strenght. A small or shrinking middle class with growing lower class and upper class generally leads to political instability and eventual economic weakness
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Trickle up? Are you kidding me? The answer is to put more POOR people to work!
 
TurtleDude said:
you do understand the dem scheme of jacking up taxes only on "the rich" is a ploy to continue to buy the votes of the many by claiming only "the rich" will have to fund the increased spending. This is dishonest

so do you support ending all the tax hikes or ending alot of the spending that the dems use to buy your vote?
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What is dishonest and ugly is your constant need to lie in order to make "your" unvalid point.

The only real buying of votes? Come from the rich right where they buy votes via the back scratch.
 
Moderator's Warning:
Stick to the topic at hand and let's all stop with the personal back and forth attacks. Getting back on topic would be wise for all at this point. Thank you!
 
'Trickle Down' Theory will never work. What would work? A place where all people are equal, have housing, food clothes, etc. ALL people. Not just a few and anybody that does not wish to pitch in? They can either leave or will have the very basics.

There is no damn reason why any and all legal citizens in the U.S.A. have to suffer and be homeless, foodless, etc. It is not right.

This crap about well the rich gonna make thier piss on the poor turn into jobs and other bull****? Just that: bull****
 
I just want to tell a little story. I got into a higher tax bracket this year. Taxes will always piss me off, but is it setting me back? I'm doing fine, I will get some of it back and I don't think a lot of you know how easy it is for rich people to stay rich. If you can make a million guess what? Chances are in 10 years you could turn that million into 10 million without even getting off your ass. Being rich and getting richer is a hobby to rich people. Am I going to give a **** about capital gains tax when I'm getting taxed for it? Hell no because I didn't do **** for that money other than put it in there. When you are a working class citizen though working and dragging your dick into the ground 12 hours a day are you telling me that you should just **** that guy over and give him the same taxes a rich person has even though they have ways of getting refunds and write offs back that most US citizens couldn't even dream of? You people are unreal.
 
TurtleDude said:
Hard to say. most rich people have assets in other places. Many middle class americans only have savings and their home equity
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The valuation of those assets depends on adequate liquidity. Americans watched over $11 trillion in wealth evaporate on then fear of insolvency (the reason for a bank run), imagine if that fear turned into reality.
 
JohnWOlin said:
I just want to tell a little story. I got into a higher tax bracket this year. Taxes will always piss me off, but is it setting me back? I'm doing fine, I will get some of it back and I don't think a lot of you know how easy it is for rich people to stay rich. If you can make a million guess what? Chances are in 10 years you could turn that million into 10 million without even getting off your ass. Being rich and getting richer is a hobby to rich people. Am I going to give a **** about capital gains tax when I'm getting taxed for it? Hell no because I didn't do **** for that money other than put it in there. When you are a working class citizen though working and dragging your dick into the ground 12 hours a day are you telling me that you should just **** that guy over and give him the same taxes a rich person has even though they have ways of getting refunds and write offs back that most US citizens couldn't even dream of? You people are unreal.
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What a crock. Not the way it is at all; you have no idea what you're talking about.

GOOD investments double about ever 7.2 years, so your million into 10 million is utter rubbish. You don't even consider the risk taken by entrepreneurs and investors, and the incredible losses and failures many of them experience.

And at 15 percent capital gains rates, that risk is worth it. But at 40 percent, no way would a smart investor take that risk. He'll just bury his money in the backyard, and it'll never spur the economoy whatsoever.

And by the way, the trickle down theory is "capitalism" in a nutshell, so you socialists and communists need to show us where your ideas have worked. Take a look at China; capitalism for the government, communism for everyone else. Is that what you want?
 
Goldenboy219 said:
The valuation of those assets depends on adequate liquidity. Americans watched over $11 trillion in wealth evaporate on then fear of insolvency (the reason for a bank run), imagine if that fear turned into reality.
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I must have missed the run on the banks. Please point me to that run?
 
Kali said:
'Trickle Down' Theory will never work. What would work? A place where all people are equal, have housing, food clothes, etc. ALL people. Not just a few and anybody that does not wish to pitch in? They can either leave or will have the very basics.

There is no damn reason why any and all legal citizens in the U.S.A. have to suffer and be homeless, foodless, etc. It is not right.

This crap about well the rich gonna make thier piss on the poor turn into jobs and other bull****? Just that: bull****
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It sounds nice in theory, but it'll never happen. Not only for the reason that you haven't addressed where the money is going to come from, but also because there are still going to be people who are too stupid and too lazy to go get the free ****.
 
JohnWOlin said:
I just want to tell a little story. I got into a higher tax bracket this year. Taxes will always piss me off, but is it setting me back? I'm doing fine, I will get some of it back and I don't think a lot of you know how easy it is for rich people to stay rich. If you can make a million guess what? Chances are in 10 years you could turn that million into 10 million without even getting off your ass. Being rich and getting richer is a hobby to rich people. Am I going to give a **** about capital gains tax when I'm getting taxed for it? Hell no because I didn't do **** for that money other than put it in there. When you are a working class citizen though working and dragging your dick into the ground 12 hours a day are you telling me that you should just **** that guy over and give him the same taxes a rich person has even though they have ways of getting refunds and write offs back that most US citizens couldn't even dream of? You people are unreal.
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The part your missing, is that there tax increases on non-millionares and samll businesses.

Businesses have to make money this year, to pay the taxes for last year. It's a vicious cycle that is never-ending. If a company didn't have money left over last year and doesn't have any money left over this year, then they're not going to be able to pay their taxes. Ultimately, this is very bad for the government's coffers.

Not all business operators are millionares, in fact very few of them are. You wanna stick it to the millionares? Fine, go ahead. However, the dollar amount that defines who is, "rich", is getting lower all the time.
 
Lord Tammerlain said:
Canada has never lost a war it has been in. Heck we even burned down the White house ( admitedly we were not an independant nation at the time)
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The RCA burned down the White House? :rofl

Trickle down economics or Vodoo economics or Supply side economics is a theory of economics brought into the US during the Reagan admin. It failed then as it relied on Keynsian economics to make it work, just as it fails now when the debts of both the people of the US and the government of the US no longer allow for stimulus to work.

I suggest going back to the economic theory of hard work, saving at least 5% of your income for retirement and minimising debt
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Hardwork, doing what? Providing goods and services, for people to purchase? Sounds like the cash flow created by trickle down economics.

I've been running a service type business for ten years and I've never sold my services to someone that had less money than I do.
 
apdst said:
The RCA burned down the White House? :rofl



Hardwork, doing what? Providing goods and services, for people to purchase? Sounds like the cash flow created by trickle down economics.

I've been running a service type business for ten years and I've never sold my services to someone that had less money than I do.
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Who sells more cars and has higher revenues

Toyota or Morgan, Ford or BMW

A large middle class causes a large demand for goods and services, and provided they save some of their money, they can also provide the capital for investment by companies and individuals to expand and grow into new markets.

A small middle class with a large lower class and a small upper class has reasonable demand for goods and services, but no where near that of when a country has a healthy and large middle class
 
hazlnut said:
It would work, if people were not greedy.
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I've found that the wealthy are far less greedy than the poor at the end of the day. Hence, often that is how they became wealthy, because they are much more focused and interested on the industry of their field than the money that is generated from it.

Buffett doesn't believe in trickle down economics because he built his wealth through investing in OTHER people's industriousness. He's just a prospector.
 
Erod said:
I've found that the wealthy are far less greedy than the poor at the end of the day. Hence, often that is how they became wealthy, because they are much more focused and interested on the industry of their field than the money that is generated from it.

Buffett doesn't believe in trickle down economics because he built his wealth through investing in OTHER people's industriousness. He's just a prospector.
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He also tries to ingratiate himself with the dem leadership while pushing an agenda that would really rape those far less wealthy than he is but who are targeted as being "rich" by his dem allies
 
TurtleDude said:
He also tries to ingratiate himself with the dem leadership while pushing an agenda that would really rape those far less wealthy than he is but who are targeted as being "rich" by his dem allies
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" WOULD RAPE THOSE FAR LESS WEALTHY......" !!!!!!!!!

A simple word like hyperbole fails to do justice to your phrase.
 
hazlnut said:
It would work, if people were not greedy.
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None of us is greedy. It is only the other fellow who is greedy. Pursuing a single dollar worth of profits sets any individual up for accusations of greed.

Are you greedy? Do you generate an income that is only enough to provide for your basic essential needs? Seeing that you live in Redondo Beach, I'd think otherwise. :)

By the way, my uncle lives in RB. Maybe we can have lunch sometime!
 
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