Few have the guts to speak the truth

iVillage Member
Registered: 10-25-2006
Few have the guts to speak the truth
71
Mon, 08-15-2011 - 10:40am

Here's one who does:

Stop coddling the super-rich: Buffett
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9:05am EDT

BANGALORE (Reuters) - Billionaire Warren Buffett urged U.S. lawmakers to raise taxes on the country's super-rich to help cut the budget deficit, saying such a move will not hurt investments.

"My friends and I have been coddled long enough by a billionaire-friendly Congress. It's time for our government to get serious about shared sacrifice," The 80-year-old "Oracle of Omaha" wrote in an opinion article in The New York Times.

Buffett, one of the world's richest men and chairman of conglomerate Berkshire Hathaway Inc , said his federal tax bill last year was $6,938,744.

"That sounds like a lot of money. But what I paid was only 17.4 percent of my taxable income - and that's actually a lower percentage than was paid by any of the other 20 people in our office. Their tax burdens ranged from 33 percent to 41 percent and averaged 36 percent," he said.

Lawmakers engaged in a partisan battle over spending and taxes for more than three months before agreeing on August 2 to raise the $14.3 trillion U.S. debt ceiling, avoiding a U.S. default.

"Americans are rapidly losing faith in the ability of Congress to deal with our country's fiscal problems. Only action that is immediate, real and very substantial will prevent that doubt from morphing into hopelessness," Buffett said.

Buffett said higher taxes for the rich will not discourage investment.

"I have worked with investors for 60 years and I have yet to see anyone - not even when capital gains rates were 39.9 percent in 1976-77 - shy away from a sensible investment because of the tax rate on the potential gain," he said

"People invest to make money, and potential taxes have never scared them off."

(Reporting by Santosh Nadgir; Editing by David Holmes)



http://www.reuters.com/article/2011/08/15/us-buffett-tax-idUSTRE77E13V20110815

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http://www.pnhp.org/news/2009/october/meet_the_new_health_.php

http://www.youtube.com/watch?v=DQTBYQlQ7yM

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iVillage Member
Registered: 07-09-2011
Wed, 08-17-2011 - 11:12am

iVillage Member
Registered: 07-09-2011
Wed, 08-17-2011 - 11:16am

"ugh the stimulus has not boosted employment numbers as much as we'd all like, saying is has been a failure is shortsighted."

iVillage Member
Registered: 07-09-2011
Wed, 08-17-2011 - 11:22am

True, he's a carpet bagger, just like Bill Gates and Steve jobs. Berkshire and the other companies enjoy extremely low tax rates due to the tax policy of the US and have used them to grow exceedingly fast. Apple just passed Exxon as America's largest company. These companies prove supply-side economics works, low taxes = faster growth, but they will publicly claim it doesn't. They will also claim to be liberals so as not to draw the ire of socialists in America. They will publicly say what needs to be said to keep the oppressive government, high-tax socialists happy, but what they do is the exact opposite. And many wonder why the term 'useful idiot' continues to be used.

iVillage Member
Registered: 07-09-2011
Wed, 08-17-2011 - 11:25am

""It's essentially saying part of the cost of a factory construction job is part of the factory itself, but investments like factories have a lasting and larger economic impact beyond just the initial job count," the official said."

iVillage Member
Registered: 08-12-2011
Wed, 08-17-2011 - 1:59pm

One only has to open their eyes to see the truth...

iVillage Member
Registered: 11-27-2009
Wed, 08-17-2011 - 3:20pm
I don't know how anyone can say that conservatives weren't criticizing Bush for his spending. And I can be counted as one that voted against Republicans in a House race. I voted for Bill Foster (scientist from Fermi Lab, Democrat) when Hastert retired. I was sick and tired of the Washington bull, Foster promised more. He ended up not being the independent thinker (except on Cap and Trade) as I thought he was and he then lost my vote when he became another rubber stamp, but I was no way voting for another 'business as usual' Republican that election.
iVillage Member
Registered: 08-12-2011
Wed, 08-17-2011 - 8:21pm

Exactly right...and that was the sentiment of many conservatives...which unfortunately led to Democrat control of government and the debacle we now find ourselves in.

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Community Leader
Registered: 01-25-2010
Thu, 08-18-2011 - 12:03am

dragowoman

iVillage Member
Registered: 11-27-2009
Thu, 08-18-2011 - 12:04am
Fortunately Foster didn't hold his seat long. Unfortunately the Dems in Illinois have redistricted to increase the number of Dem districts and have pitted sitting US House reps (Republicans) against each other with the new lines drawn.
iVillage Member
Registered: 10-25-2006
Thu, 08-18-2011 - 8:53am

<>

Yeah, those cuts helped a lot, didn't they?

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http://www.pnhp.org/news/2009/october/meet_the_new_health_.php

http://www.youtube.com/watch?v=DQTBYQlQ7yM

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