Warren Buffett says tax breaks for the rich donot help the economy

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Author: [Politics] Topic: Warren Buffett says tax breaks for the rich donot help the economy
cd329 PM cd329
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Posted: 11/22/2010 4:07:37 PM

but am sure the guys here know more then the third richest man in the world knows about the economy.

Buffett told ABC News' Christiane Amanpour that tax breaks for the rich don't help the economy.

"The rich are always going to say that, you know, just give us more money and we'll go out and spend more and then it will all trickle down to the rest of you," Buffett said. "But that has not worked the last 10 years, and I hope the American public is catching on."

The man is a friggin genius and couldnt be more right. The Ronald Reagan trickle down system is pure garbage, its never worked and never will work.  Nothing trickles down from rich peoples pockets.  Only brain washed people believe that crap

 

http://news.yahoo.com/s/yblog_theticket/20101122/pl_yblog_theticket/warren-buffett-agrees-tax-the-rich

djbrow PM djbrow
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Posted: 11/22/2010 4:17:29 PM

Tax breaks always help the economy.....

 

if they are paid for.

The reality that as goes the middle class and small businesses goes the economy. Both parties seem to forget that time and time again.

cd329 PM cd329
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Posted: 11/22/2010 4:25:17 PM
QUOTE Originally Posted by djbrow:

Tax breaks always help the economy.....

 

if they are paid for.

The reality that as goes the middle class and small businesses goes the economy. Both parties seem to forget that time and time again.

 

yup tax breaks for the middle class and help for the small businesses

kickinA PM kickinA
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Posted: 11/22/2010 4:39:36 PM
QUOTE Originally Posted by djbrow:

Tax breaks always help the economy.....

 

if they are paid for.

The reality that as goes the middle class and small businesses goes the economy. Both parties seem to forget that time and time again.

steveshane67 PM steveshane67
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Posted: 11/22/2010 6:10:27 PM
what i dont understand about the whole bush tax cuts.  most everyone seems to be for extending them for the lower 98%.... the big discussion is what to do with the "rich", those making 250k+... bc the vast majority of small business owners fall into that catergory... why not make a special legislation so only those making .5 mil or 1 mil + dont get the extension.  i mean doesnt that seem like a logical solution???
tikitom PM tikitom
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Posted: 11/22/2010 6:29:33 PM
QUOTE Originally Posted by cd329:

but am sure the guys here know more then the third richest man in the world knows about the economy.

Buffett told ABC News' Christiane Amanpour that tax breaks for the rich don't help the economy.

"The rich are always going to say that, you know, just give us more money and we'll go out and spend more and then it will all trickle down to the rest of you," Buffett said. "But that has not worked the last 10 years, and I hope the American public is catching on."

The man is a friggin genius and couldnt be more right. The Ronald Reagan trickle down system is pure garbage, its never worked and never will work.  Nothing trickles down from rich peoples pockets.  Only brain washed people believe that crap

 

http://news.yahoo.com/s/yblog_theticket/20101122/pl_yblog_theticket/warren-buffett-agrees-tax-the-rich

 

Allowing someone to keep money they earned is not giving them something.

kaponofor3 PM kaponofor3
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Posted: 11/22/2010 6:37:48 PM
QUOTE Originally Posted by tikitom:

 

Allowing someone to keep money they earned is not giving them something.



Preach it brother.
rooster010 PM rooster010
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Posted: 11/22/2010 6:38:32 PM
QUOTE Originally Posted by tikitom:

 

Allowing someone to keep money they earned is not giving them something.

warren buffett also thinks derivatives need no regulation, nor should they require collateral

darn him and his horse

kickinA PM kickinA
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Posted: 11/22/2010 6:39:28 PM
QUOTE

Originally Posted by steveshane67:

what i dont understand about the whole bush tax cuts.  most everyone seems to be for extending them for the lower 98%.... the big discussion is what to do with the "rich", those making 250k+... bc the vast majority of small business owners fall into that catergory... why not make a special legislation so only those making .5 mil or 1 mil + dont get the extension.  i mean doesnt that seem like a logical solution???

Logic and politicians don't often go hand in hand.

rick3117 PM rick3117
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Posted: 11/22/2010 6:52:58 PM
Warren Buffet also has lobbyists that make sure that his investments do not fail and if they do they will be covered by the tax payers money. 

So with all due respect to the Oracle of Omaha he needs to shut the darn up and stop trying to fill the piggy bank for the next disaster.
SarasotaSlim PM SarasotaSlim
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Posted: 11/22/2010 6:57:21 PM
QUOTE Originally Posted by tikitom:

 

Allowing someone to keep money they earned is not giving them something.

 Tikitom beat that drum ................

atlheatholder PM atlheatholder
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Posted: 11/22/2010 7:45:27 PM
QUOTE Originally Posted by tikitom:

 

Allowing someone to keep money they earned is not giving them something.

Amen. 

lordspoint PM lordspoint
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Posted: 11/22/2010 8:14:33 PM

someone working in NYC making $250K is not rich by any me ans

I dont fall into this 250K category but the rich are easy targets and it gets old if you ask me....just keep taxing them so they earn what the "rest of us" make.......anyone know what that equates to?

 

cd329 PM cd329
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Posted: 11/22/2010 8:44:33 PM
Sorry guys i got to side with Warren Buffett on this one.  Am sure he knows way more about finances, economy and why giving the rich tax breaks is no goo, but then again hes only the 3rd richest person in the world and how could he know more then a bunch of guys on a sports messageboard
rooster010 PM rooster010
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Posted: 11/22/2010 9:15:42 PM
QUOTE

Originally Posted by cd329:

Sorry guys i got to side with Warren Buffett on this one.  Am sure he knows way more about finances, economy and why giving the rich tax breaks is no goo, but then again hes only the 3rd richest person in the world and how could he know more then a bunch of guys on a sports messageboard

thats very shortsighted of you, why not dig into the mans past and his bullshit

or is it just because a man has money you libs believe every bit of propaganda they spew? but on the flip side, hate the evil capitalist pigs and the corporations they run

this piece of bloated garbage and the other "millionaire tax me club" should put their money where their mouth is and write the government a friggin check and shut the darn up

but the libs never lead by example, they only know whats best for everybody else

 

cd329 PM cd329
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Posted: 11/22/2010 10:39:40 PM
QUOTE Originally Posted by rooster010:

thats very shortsighted of you, why not dig into the mans past and his bullshit

or is it just because a man has money you libs believe every bit of propaganda they spew? but on the flip side, hate the evil capitalist pigs and the corporations they run

this piece of bloated garbage and the other "millionaire tax me club" should put their money where their mouth is and write the government a friggin check and shut the darn up

but the libs never lead by example, they only know whats best for everybody else

 

 

Rooster, am not even a fan of Buffett, but in this case hes totally right.  Giving tax break to the rich doesnt help the economy.  What i dont understand is why some of you get so bent out of shape because a bunch of millionaire and billionaires wont get a tax break.  Are you guys rich and in this group that will get a tax break?

bfskate26 PM bfskate26
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Posted: 11/22/2010 11:24:23 PM
Does anyone know why the line is set at 250k??

Why 250, and not a higher number like 7figures, as steveshane suggested?
KOAJ PM KOAJ
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Posted: 11/23/2010 6:38:22 AM
if i may...

darn Warren Buffet!!!!

he hides his 60b in charitable trusts to avoid taxes

most of his berkshire investments (companies) were bailed out by the government (you and me) in the last 2-3 years. All of his insurance companies, his Moody's, his GE, his GS

why do you think he bought all those warrants below market value on Goldmand and GE?!?! he knew he wouldnt lose because he knew the government would bail those two companies out

he's the Oracle of Omaha because he fixes the game. he is as much of a crony as the Goldman Sachs guys or Al Gore
rooster010 PM rooster010
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Posted: 11/23/2010 6:41:54 AM
QUOTE Originally Posted by cd329:

 

Rooster, am not even a fan of Buffett, but in this case hes totally right.  Giving tax break to the rich doesnt help the economy.  What i dont understand is why some of you get so bent out of shape because a bunch of millionaire and billionaires wont get a tax break.  Are you guys rich and in this group that will get a tax break?

its about whats right and wrong cd, just because someone has more than me does not mean that i am entitled to have the government take from him and give to me

there are three types of people in this world:

those that have made it to the top

those that work hard and dream to make it to the top

and then there are those that are jealous and loathe anyone who has had any kind of success

 

KOAJ PM KOAJ
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Posted: 11/23/2010 6:47:24 AM
QUOTE Originally Posted by djbrow:

Tax breaks always help the economy.....

 

if they are paid for.

The reality that as goes the middle class and small businesses goes the economy. Both parties seem to forget that time and time again.



if i may reword...and tell me me if im wrong

"government cannot afford to give tax cuts if they have already spent all of the projected tax revenue and dont want to run a deficit"

it is my money. it is your money. it is tikitom's money. it is not government's money


don juan PM don juan
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Posted: 11/23/2010 7:33:38 AM
Buffett is absolutely correct. Maybe now these right-wing clowns around here are beginning to see the light. It takes awhile to get it through the thickness of their heads. $$$$$$ greed has blinded them.
KOAJ PM KOAJ
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Posted: 11/23/2010 8:02:24 AM
QUOTE Originally Posted by rooster010:

its about whats right and wrong cd, just because someone has more than me does not mean that i am entitled to have the government take from him and give to me

there are three types of people in this world:

those that have made it to the top

those that work hard and dream to make it to the top

and then there are those that are jealous and loathe anyone who has had any kind of success

 



and there are those who have made it and dont want any competition so they buy their way through congress and lobby to over regulate and create barriers to entry for any new competition (cough *USA* cough)
lordspoint PM lordspoint
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Posted: 11/23/2010 8:15:33 AM
QUOTE

Originally Posted by don juan:

Buffett is absolutely correct. Maybe now these right-wing clowns around here are beginning to see the light. It takes awhile to get it through the thickness of their heads. $$$$$$ greed has blinded them.

what do you know about the subject don? enlighten me with your great wisdom of this subject. You are/were a union lackey and have been brainwashed to hate the companies of the world. Go ahead, spit out some facts...I'll be waiting..............................

lordspoint PM lordspoint
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Posted: 11/23/2010 8:17:46 AM
QUOTE

Originally Posted by KOAJ:



if i may reword...and tell me me if im wrong

"government cannot afford to give tax cuts if they have already spent all of the projected tax revenue and dont want to run a deficit"

it is my money. it is your money. it is tikitom's money. it is not government's money


I laugh when they say it will cost the govt X amount for a tax break

It doesnt cost them garbage bc as you point out, it's not their money

don juan PM don juan
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Posted: 11/23/2010 9:41:48 AM
QUOTE Originally Posted by lordspoint:

what do you know about the subject don? enlighten me with your great wisdom of this subject. You are/were a union lackey and have been brainwashed to hate the companies of the world. Go ahead, spit out some facts...I'll be waiting..............................



You need to be enlightened. Trickle down has proven to be a trick. 10 years and everything trickled up, leading us to a two tier society.

In 1965 went to work for a company that was in business for 101 years, from 1864 to 1965. It was non-union until it became unionized in 1963, two years before I got there.
Do you want to know how many people retired from there in 101 years ? ONE, And he was a distant cousin.  ONE.
Back then if you didn't make 20 years, they could fire you without cause and you would lose any retirement..
They are still in business today, 2010 with a union. And, since becoming unionized over 200 people have retired from there.

That company taught me one hell of a lesson about how brutal corporations can be without some oversight. There are thousands of companies like that in this country. Disney is a big example around this town.
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