Warren Buffett says Increases Taxes on the wealthy!

They never had it so good!

Published on May 4, 2005 By COL Gene In Politics

Warren Buffett, the second wealthiest person in the world just appeared on Lou Dobbs with the following advice. We need to raise taxes for the wealthy to deal with things like Social Security. He further stated that the wealthy NEVER HAD IT SO GOOD in this country and that we need to reduce our trade deficit , our Federal budget deficit and fix Social Security. Mr. Buffett also said it is interesting that the president believes a $100 billion dollar per year problem with Social security 20 years from now is more urgent than a $400 plus billion dollar per year problem today with the federal deficit. This is one of the people who advised George W. Bush in 2001 NOT to cut taxes for the wealthy because there were more important things this country needed to do with that money than to cut taxes for the wealthy. What an interesting perspective from the world's second wealthiest Person.

Comments (Page 2)

Lee1776

on May 05, 2005

Now we must increase revenue to pay for it!

Scrap it, and we will not need to increase revenue.

COL Gene

on May 05, 2005

That will never happen. Get ready to write a check! This was brought to you by "YOUR BOY" George

Lee1776

on May 05, 2005

This was brought to you by "YOUR BOY" George

I'm am much happier saying and saluting a President Bush right now then ever wanting to a President Kerry.

While you never say anything good about Bush, don't think just because I voted for him that I only say good things.

COL Gene

on May 05, 2005

I have supported Bush with his "Road Map" in the Middle East. I also agreed with the 6 party talks with North Korea (we need China) and I agree we should make Social Security solvent for our children and grandchildren. Where I do not support him is when his policies do not solve our problems. The Bushies are behind him even when he is leading them off a cliff.

stutefish

on May 05, 2005

Wake me up when Buffet's reasoning makes sense.

As far as I can tell, he thinks we should raise taxes on the rich simply because they can afford it and we need the money.

Personally, I'm in favor of basing my budget on what I can afford, rather than what some other guy can afford.

If taxing everybody equally would put an unsupportable burden on the low and middle classes, then I say by all means, let us put an unsupportable burden on the low and middle classes.

A disproportionate tax on the rich is just a way for to hide the real costs of our programs. If we all had to pitch in equally for what we get, maybe we'd finally start thinking about what our programs cost, and whether or not we're getting our money's worth.

Rather than dealing with ineffiencies, instituting real reform, or facing the truth about useless services, raising taxes on the rich just allows us to demonize a particular minority group.

Suddenly, it's all the fault of the Rich: they're not buying us all the goodies we want. People need to stop acting like spoiled children at Christmas time, and figure out how to pay for their own goods and services.

Also, I'm pretty sure Buffet can afford to give away more money. Wake me up when he taxes himself to below my annual income. Once he drops below that point, I'll happily match him, donation for donation, tax hike for tax hike. And I'll keep that up so long as his net annual income does not exceed mine. Wake me up when he puts his money where his mouth is.

But until that day...

stutefish

on May 05, 2005

COL Gene

on May 05, 2005

To pay our bills we need $ 600 plus billion dollars more each year. The question is who best can afford little more in taxes that answer is the rich. The tax rates that were in effect prior to Bush did not hurt the rich in fact they did better than any other group during the 90s. We need to return the tax rates on the wealthy to what they were prior to Bush, cut the pork and make sure we collect the taxes that are due and we should have a shot at balancing the budget. After all Bush said we needed a tax cut to return a projected surplus that did not exist so there should NOT be a tax cut since there was no surplus to return.

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