Listen to Warren Buffet!!!

[luvsluvin]

Please note, Mr. Buffet restricts his comments to those making over $1 million, NOT those in the top 1%, or those making >$250k which is where I disagree with the Democrats. But IMO the Norquist Pledge is for elected officials who have neither guts nor brains. Stop the madness and listen to Warren Buffet!!!

Buffett higher tax call strikes a nerve | Reuters

Warren Buffett," one of the world's three richest men, has taken to the pages of the New York Times to call for higher taxes -- yes, higher taxes -- for himself and his well-off peers.

"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," he said.

Washington lawmakers are fighting about how to reduce the nation's budget deficit and curb its massive debt burden, and the question of "added revenue" -- code for higher taxes -- looms larger than any other.

Republicans have fiercely resisted to make higher taxes for the wealthy part of any budget plan, insisting instead on all the deficit-curbing measures be made through spending cuts.

Taxation will be a major theme of the 2012 presidential election, and Buffett planted himself squarely in the middle of the debate.

"While the poor and middle class fight for us in Afghanistan, and while most Americans struggle to make ends meet, we mega-rich continue to get our extraordinary tax breaks," he wrote.

Buffett is not alone in agitating for change.

"Most wouldn't mind being told to pay more in taxes as well, particularly when so many of their fellow citizens are truly suffering," he said.

From the general taxpaying public, the reaction was almost instantaneous. "Warren Buffett" was one of the single most mentioned topics on Twitter as of Monday afternoon, as was the title of his op-ed piece, "Stop Coddling the Super-Rich."

Speaking of the various tax incentives he and other wealthy taxpayers receive, Buffett said "(these) and other blessings are showered upon us by legislators in Washington who feel compelled to protect us, much as if we were spotted owls or some other endangered species. It's nice to have friends in high places."

Buffett, chairman of the conglomerate Berkshire Hathaway, said his federal tax bill last year was $6,938,744, the equivalent of 64 shares of Berkshire Class A stock.

"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.

Or else incorporate a flat tax. One tax for all, regardless of income. A straight percentage and that is it. Argh... is that too simple for our intelligent leaders??!!

[Nynus]

When you have 51% of American households paying NO federal income tax and 30% of American households getting tax refunds AND paying ZERO federal income taxes then you know something is fucked up beyond all reasonable levels of sanity.

[curtinsea]

Or else incorporate a flat tax. One tax for all, regardless of income. A straight percentage and that is it. Argh... is that too simple for our intelligent leaders??!!

This, on all income regardless of source, no deductions at all. No exemptions, no loop holes, no tax returns, no refunds. Payers are responsible for reporting and paying the tax.

Simple

[luvsluvin]

Exactly!

Oh... but what would all of those lobbyists do then???

[curtinsea]

Exactly!

Oh... but what would all of those lobbyists do then???

lobbyists?? wtf would congress do then?

[Nynus]

lobbyists?? wtf would congress do then?

Keep cutting.

For the last 60 years the Government has tried to justify it's existence by trying to find new ways to spend money. It's past time they reversed course and justified themselves by eliminating bloated government. Get back to a level where the Government wasn't a provider but a catalyst. Stop trying to buy votes by giving people money, and instead give them a better opportunity to make money themselves. Stop putting spending burdens on the States as well. Get out of their way and let them sink or swim on their own. You want Socialism, go to California or New York. If you want to work and thrive, head to a state that promotes free enterprise and endorses the principal of less government. The concept of the government being everything for everyone is over. It's been tried, and it's failed miserably. Time to move on.

Is it any wonder that the European models of Socialism have been failing? What makes the Liberals here think that it would work any better for us?

[wabbit]

lobbyists?? wtf would congress do then?

Go on a permanent vacation

[billybob]

in my opinion, Warren Buffet is one of the most intelligent men of our time. I have read a lot of articles and listened to some of his interviews, and he just does not say stupid things, Now maybe I am not smart enough to catch them but in my mind he makes sense. He is certainly not a man that flaunts his money on lavish homes, cars etc. If I am not mistaken he has lived in the same modest home, modest for a man of his wealth. Oh, and he never, ever spends more money than he makes, unlike our government.

[Moab]

51% of the population paying no taxes ..B/S everyone pays taxes even the poorest.

Quoting the Great Reagan:

If people need any more concrete explanation of this, start with the staff of life, a loaf of bread. The simplest thing; the poorest man must have it. Well, there are 151 taxes now in the price of a loaf of bread — it accounts for more than half the cost of a loaf of bread. It begins with the first tax, on the farmer that raised the wheat. Any simpleton can understand that if that farmer cannot get enough money for his wheat, to pay the property tax on his farm, he can’t be a farmer. He loses his farm. And so it is with the fellow who pays a driver’s license and a gasoline tax to drive the truckload of wheat to the mill, the miller who has to pay everything from social security tax, business license, everything else. He has to make his living over and above those costs. So they all wind up in that loaf of bread. Now an egg isn’t far behind and nobody had to make that. There’s a hundred taxes in an egg by the time it gets to market and you know the chicken didn’t put them there!

[curtinsea]

It's pretty easy, once you have gotten filthy rich and are now old and gray, to now take the position Mr. Buffet is taking. Since we tax income not wealth, he can push for 90% tax rates, then retire. No worries.

I'd be more impressed if it were his kids/grandkids making the statements he is making