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: 04-22-2003
Fri, 08-19-2011 - 12:31am
Well, I did have corn and soy in mind when I was talking about food subsidies and most of grains are genetically modified which are also bad for us. I was not talking about fruits and vegetables.
About subsidies...
I was only talking about price difference between inorganic and organic food. I am thinking many of the pesticide/herbicide and genetically engineering crops are subsidized making them cheaper for inorganic growers. But organic farming might be more expensive absent of subsidies as well as less demand due high price. If the playing field is levelled between these two then inorganic farming may not be as cheap and demand for organic food may increase which in turn will increase sellers of organic food in the market thus giving more competition and hence price reduction. Right now organic farmers may not be able cope with the pricing pressures from inorganic farmers.

But it may not be a bad idea to provide subsidies to organic farmers of fruits and vegetables which non GMO.

iVillage Member
Registered: 04-22-2003
Fri, 08-19-2011 - 12:37am
Also, when any party claims that other party is increasing taxes, please make sure whether the actual tax is increased or a tax loop hole closed to make it fair to all industries or people.
iVillage Member
Registered: 10-25-2006
Fri, 08-19-2011 - 9:57am

<>

They are not good enough examples.

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

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

iVillage Member
Registered: 07-09-2011
Fri, 08-19-2011 - 10:21am

The American left has shown no interest in such things. They oppose the simplest and least intrusive methods possible for helping to eliminate fraud. Giuliani had to fight tooth and nail to install simple social security number checks to reduce fraud. Bill Clinton opposed removing welfare as an entitlement, wanting to leave it as a multi-generational hammock for those not wanting to work. The examples are endless and we know why:

iVillage Member
Registered: 07-09-2011
Fri, 08-19-2011 - 10:25am

"We rank 64th when it comes to wealth equality"

iVillage Member
Registered: 08-12-2011
Fri, 08-19-2011 - 2:42pm

my thinking is that he is

iVillage Member
Registered: 08-12-2011
Fri, 08-19-2011 - 2:47pm

Why would "wealth equality" be a good thing?

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Community Leader
Registered: 01-25-2010
Fri, 08-19-2011 - 3:46pm

LAnie

dragowoman

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Community Leader
Registered: 01-25-2010
Fri, 08-19-2011 - 3:50pm

Then you approve of getting rid of the deductions?

dragowoman

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Community Leader
Registered: 01-25-2010
Fri, 08-19-2011 - 3:54pm

Here is where the rub cames:

dragowoman

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