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

Deuce said:
Because it's so easy to get a job right now.

I was just reading an article about a woman who used to make six figures, lost her job and later her home, burnt through all of her savings, and is now selling her wedding ring to avoid having to sleep in her car. She's tried to find a job, any job. Even crappy ones. She's been repeatedly told she's overqualified.It's not just lazy people or poor people who are struggling. This woman was rich. This can happen to you too.
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Exactly and if it does happen? I bet these haters talking out their mouth about lazy folks need to get a job will shut the hell up as they will finally understand the REAL Job market.
 
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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They sure do and they usually have hidden money in other places. Glad to see you admit they are crooks.
 
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Kali said:
They sure do and they usually have hidden money in other places. Glad to see you admit they are crooks.
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That is the sort of moronic interpretations and class envy that serve no useful purposes. Having real property, bonds, stocks etc was the point. You just spew idiotic class envy and blame others for your lot in life.
 
TurtleDude said:
That is the sort of moronic interpretations and class envy that serve no useful purposes. Having real property, bonds, stocks etc was the point. You just spew idiotic class envy and blame others for your lot in life.
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In two lines you call Kali both moronic and idiotic. That is insulting and adds nothing to any discussion of issues.

You seem to obsess on the term ENVY. It comes up again and again any time you discuss this issue when people suggest raising taxes upon the wealthiest Americans. There is not anyone here wishing they had all of your supposed riches, all of your supposed wealth, all of your supposed money or has dreams that they too can live in the Turtle version of the Uncle Scrooge money bin diving into a swimming pool of one hundred dollar bills. You seem to think the rest of us are like little kids with our noses pressed against the glass of your candy counter as we drool on it.

Such fantasies on your part may be good for your own ego boost or your own self image but they are not part of our reality. Our motivation for a fairer tax policy is NOT to rob the Turtle of his caviar but to rectify the damage started by the Reagan tax cuts, the Bush tax cuts and the policies which have got us to the point we are today. We want a USA where the folly of discussing tax cuts on the rich at a time where others talk about cutting programs for the poor and middle class is ended.

It would be nice if you adopted a more mature and more intelligent attitude about this and accepted our arguments for what they are and not what they are not.
 
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haymarket said:
In two lines you call Kali both moronic and idiotic. That is insulting and adds nothing to any discussion of issues.

You seem to obsess on the term ENVY. It comes up again and again any time you discuss this issue when people suggest raising taxes upon the wealthiest Americans. There is not anyone here wishing they had all of your supposed riches, all of your supposed wealth, all of your supposed money or has dreams that they too can live in the Turtle version of the Uncle Scrooge money bin diving into a swimming pool of one hundred dollar bills. You seem to think the rest of us are like little kids with our noses pressed against the glass of your candy counter as we drool on it.

Such fantasies on your part may be good for your own ego boost or your own self image but they are not part of our reality. Our motivation for a fairer tax policy is NOT to rob the Turtle of his caviar but to rectify the damage started by the Reagan tax cuts, the Bush tax cuts and the policies which have got us to the point we are today. We want a USA where the folly of discussing tax cuts on the rich at a time where others talk about cutting programs for the poor and middle class is ended.

It would be nice if you adopted a more mature and more intelligent attitude about this and accepted our arguments for what they are and not what they are not.
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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
 
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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There is no justification for calling other poster MORONIC and IDIOTIC. You can take issue with what they say be simply sticking to the issue without such characterizations.

Your constant need to attack others and belittle them only serves to show your own character to everyone else here.

This entire ENVY obsession of yours needs to be examined by someone who can find its roots and get you some help in overcoming your fixation with it. Until you do that, having any sort of intelligent and rational discussion with you on this topic is rather hopeless.
 
haymarket said:
There is no justification for calling other poster MORONIC and IDIOTIC. You can take issue with what they say be simply sticking to the issue without such characterizations.

Your constant need to attack others and belittle them only serves to show your own character to everyone else here.

This entire ENVY obsession of yours needs to be examined by someone who can find its roots and get you some help in overcoming your fixation with it. Until you do that, having any sort of intelligent and rational discussion with you on this topic is rather hopeless.
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I called her claim moronic and idiotic. 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.
 
Not at all Turtle. My complaint with you is exactly what you say and that you often fail to support your opinion. You perhaps are the reincarnation of the Savior himself and a giant among men - I cannot say. It is your views and how you express and fail to support them that I take issue with.
 
haymarket said:
Not at all Turtle. My complaint with you is exactly what you say and that you often fail to support your opinion. You perhaps are the reincarnation of the Savior himself and a giant among men - I cannot say. It is your views and how you express and fail to support them that I take issue with.
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I don't agree with your soak the rich attitude either
 
If that were my attitude, it would be your right to take issue with it.
 
To reply about why letting the bush tax cuts roll over would be a good idea:

Trickle-Down Economics: Four Reasons Why It Just Doesn't Work | United for a Fair Economy

WHY TRICKLE DOWN DOESN'T WORK | Gather

Trickle-Down Economics Fails to Deliver as Promised - Real Time Economics - WSJ

Greenspan: End Bush tax cuts | Raw Story

Going to this site Bush Tax Cuts Calculator
it concludes some weird things that I'm not sure how accurate this is.

If I were head of household and unmarried with one child and my fiance we make more on Obama's plan and less on either Dems or Rep plan. If married we make more on Dems and Rep plans (to a point they are the same) and the least on Obama's plan, and the most back on letting all tax cuts roll back. Of course, that is saying we would be getting more back just because we are getting taxed more or less through the year. The calculator however when you put in say, 300,000, married, 1 child for income shows a different picture, and Republicans plan, Democrats, and rolling back Bush tax cuts show the same tax burden, Obama's however there is a slight difference, of $400 more.
 
JohnWOlin said:
To reply about why letting the bush tax cuts roll over would be a good idea:

Trickle-Down Economics: Four Reasons Why It Just Doesn't Work | United for a Fair Economy

WHY TRICKLE DOWN DOESN'T WORK | Gather

Trickle-Down Economics Fails to Deliver as Promised - Real Time Economics - WSJ

Greenspan: End Bush tax cuts | Raw Story

Going to this site Bush Tax Cuts Calculator
it concludes some weird things that I'm not sure how accurate this is.

If I were head of household and unmarried with one child and my fiance we make more on Obama's plan and less on either Dems or Rep plan. If married we make more on Dems and Rep plans (to a point they are the same) and the least on Obama's plan, and the most back on letting all tax cuts roll back. Of course, that is saying we would be getting more back just because we are getting taxed more or less through the year. The calculator however when you put in say, 300,000, married, 1 child for income shows a different picture, and Republicans plan, Democrats, and rolling back Bush tax cuts show the same tax burden, Obama's however there is a slight difference, of $400 more.
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you want to end all of the tax cuts or just jack up taxes on the people who already pay far more than they use?

what do you think will happen to the desire of the average citizen to do something about the deficit if only the rich are tasked with paying more taxes with the growing deficit looming
 
TurtleDude said:
you want to end all of the tax cuts or just jack up taxes on the people who already pay far more than they use?

what do you think will happen to the desire of the average citizen to do something about the deficit if only the rich are tasked with paying more taxes with the growing deficit looming
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The average person injects money into the economy that the rich is already injecting. Hey if you don't mind your taxes being the same as someone making 5,000,000 you could always contribute more to the government.
 
JohnWOlin said:
Warren Buffett: 'Trickle Down' Theory Hasn't Worked (VIDEO) | TPMDC

Now I would think if I were a Democrat or Republican, I would listen to one of the richest men in the world that made most of his money just by figuring out ways to push money around in the right direction. I dunno, that's just me.
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I do not know why it took him so long to say this, it is obvious that TD does not work. Look at the bailouts we did. They did not create jobs at all, rather the companies, after taking care of their toxic debt, pocketed the rest for themselves.
 
JohnWOlin said:
The average person injects money into the economy that the rich is already injecting. Hey if you don't mind your taxes being the same as someone making 5,000,000 you could always contribute more to the government.
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I don't think you understood what I wrote-try again. under Obama's scheme I will get to keep as much of the next dollar I get as someone making 5 Million a year.
 
Mr. Invisible said:
I do not know why it took him so long to say this, it is obvious that TD does not work. Look at the bailouts we did. They did not create jobs at all, rather the companies, after taking care of their toxic debt, pocketed the rest for themselves.
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you are claiming I don't work?
 
TurtleDude said:
anyone making over 200K a year (250 for MCs) would have a marginal rate of 39.6%

truthout-LOL
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Ah nevermind. I though you were saying something else. Also see. Like the other guy said. We could give you a million and one things saying the same thing it's not good enough for you.
 
Mr. Invisible said:
I do not know why it took him so long to say this, it is obvious that TD does not work. Look at the bailouts we did. They did not create jobs at all, rather the companies, after taking care of their toxic debt, pocketed the rest for themselves.
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I can't ask this enough: what's the alternative?
 
JohnWOlin said:
Ah nevermind. I though you were saying something else. Also see. Like the other guy said. We could give you a million and one things saying the same thing it's not good enough for you.
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more bs-and that article you quoted was wild--that moron wants to jack up taxes ban most inheritances etc. sounds like a guy who hates the rich-typical blather from truthout-a main source of moonbat guano.

so can you answer the question-do you want all of the bush era tax cuts to expire or do you just want to jack up taxes on the rich so the rest of the country continues to think that deficit reduction is not something they need to be engaged in
 
President Reagan's Budget director, David Stockman, agrees.



– We need “a higher tax burden on the upper income.”

– “After 1985, the Republican Party adopted the idea that tax cuts can solve the whole problem, and that therefore in the future, deficits didn’t matter and tax cuts would be the solution of first, second, and third resort.”

– The 2001 Bush tax cut “was totally not needed.”

– On claims that Reagan proved tax cuts lead to higher government revenues: “Reagan proved nothing of the kind and yet that became the mantra and it just led the Republican Party away from its traditional sound money, fiscal restraint.”

– Former Vice President Cheney “should have known better” than claim the Bush tax cuts would pay for themselves.

– “I’ll never forgive the Bush administration and Paulson for basically destroying the last vestige of fiscal responsibility that we had in the Republican Party. After that, I don’t know how we ever make the tough choices.”
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ThinkProgress » Reagan Budget Director: GOP Has Abandoned Fiscal Responsibility By Adopting ‘Theology’ Of Tax Cuts
 
apdst said:
I can't ask this enough: what's the alternative?
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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
 
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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That's still trickle down economics...:rofl

BTW, where is the strong middle class going to get it's economic strength from?
 
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