Noted leftist Warren Buffett criticises GWB's tax code: Full text here (sorry about the .pdf): http://www.berkshirehathaway.com/letters/2003ltr.pdf Short blurb here: http://www.chron.com/cs/CDA/ssistory.mpl/nation/2437007
Whats the point of this garbage thread title? If you read the letter, he's criticizing the tax code as a whole, not just Bush's changes.
Whoa, for a second I thought you were criticizing yourself. That one letter makes all the difference.
Really, who the hell cares what Warren Buffett has to say about Dubya's tax code. Didn't he get in trouble for not paying his own taxes a few years back? I mean, when you think about it, writing hit songs about margaritas and getting kicked out of Miami Heat games on national TV doesn't make you an expert on this nation's tax code. Sure the guy still sells out every concert he plays, but... I'm sorry, what? Oh... nevermind
Yeah, man, before I realized it was nyCrocket getting all Ann Coulter on me I thought, Oh dear, I've forgotten my medication again.
Here's the article for those who didn't feel like following the link or reading the .pdf; March 6, 2004, 9:57PM Billionaire investor slams tax cuts for rich By JOE RUFF Associated Press OMAHA, Neb. -- Billionaire investor Warren Buffett accused the Bush administration Saturday of pursuing tax cuts that favor large corporations and wealthy individuals. "If class warfare is being waged in America, my class is clearly winning," Buffett said in Berkshire Hathaway's annual report. Except for 1983, the percentage of federal tax receipts from corporate income taxes last year was the lowest since data was first published in 1934, Buffett said. "Tax breaks for corporations (and their investors, particularly large ones) were a major part of the administration's 2002 and 2003 initiatives," Buffett said. Buffett said many large corporations now pay nothing close to the stated federal tax rate of 35 percent. In an April 2 speech, Pamela Olson, assistant secretary for tax policy at the U.S. Treasury, referred to "a certain Midwestern oracle" when she said Buffett played the tax code "like a fiddle." However, Buffett said in the report that his investment company pays its taxes and is almost certainly among the country's top 10 taxpayers. The company will pay $3.3 billion in 2003 corporate income tax, he said. Berkshire owns businesses and stock in a wide variety of industries, including insurance, furniture, restaurants and newspapers. ON THE INTERNET Berkshire Hathaway www.berkshirehathaway.com
Class conflict, whether subtle or overt, is a constant in the history of the world. As wealth inevidably becomes concentrated in the hands of the few and the majority realize that the standard of living for their children will be lower than their own; it never fails to foment unrest and a populist revival. Astute elite, like Mr. Buffet, realize that it behooves them to appease the people, at least a little; lest they don't chop off his head.
I give this post by Gene Peterson two thumbs up. And, I would like to add that a society can only create wealth in relative stability, and the biggest destabilizer is massive internal conflict. You can definitely create billionares during a world war, but you can only destroy them during internal revolution. Buffet, surely, recognizes this as well. I wish the Bushies would figure this out instead of just sticking their head in the sand.
Why is it that you people believe in a constant conflict theory? These people are the ones who took risks, starved for a while while building business empires for themselves and now are reaping the fruits. Wealth is not a zero-sum game, in that there is only this set pile of money. Unlike energy, wealth can be constantly created (by investment) or destroyed (poor decision making). Warren Buffett is just infected with the same guilt that affects most well-meaning liberals. What he doesn't realize that as a wealthy person, he has done more good than all the homeless "advocates" and Mother Teresa types combined. His companies employ thousands who would not otherwise have a job but because of his willingness to invest his money. When he buys a Corvette or a yacht or one of those Gulfstream private jets you people hate, his buying of such a product creates a market, forcing companies to spring up to fill that need and.....employ the average person to do everything to maintain and build those fancy toys you people decry. Govt. never has created wealth or nor has a govt. program ever done anything but harm the poor it was designed to help by chaining them into an endless cycle of dependency. We are not a nation of soup kitchens and people one firing away from living on the street. Why is that you people preach such a message of doom and gloom. Where is the uplifting element to your message?
You're funny, dude. You really are. I'll go ahead and assume that a lateral transfer to the business desk is not in the works for you. Friday night under the lights!
I have read enough of bamaslammer's posts at this point to realize that no amount of reality will persuade him to question his own beliefs, except maybe a lethal dose - and, hopefully, he'll never have the bad luck to be administered a lethal dose of reality and, instead, he can go on believing the untruths that comfort him. But, for the rest of us, there's no point in reading his posts - once you've read one of them, you've read all of them. They don't change.
I certainly hope you have an editor there at the Dirt Farmer Weekly Trade and Swap. I would imagine that ten years in the Marines wouldn't exactly sharpen your yen to question authority or stake out your own opinion. I especially enjoy BS's frequent allusions to the 'chicoms' (anyone notice how the Pentagon now refers to soldiers as 'warfighters'? - pretty cool, huh?) whilst his beloved Bushists are busy suppling same with loads of military technology. Making fun of BS is a lot like a cruel gang of 12 year olds picking on the fat kid on the school bus, but I admit it has a sad appeal nonetheless.
If that means having core values that are based on positivity, hard work and the geniuine American spirit, I'm guilty as charged. If reality to you is a constant cavalcade of negativity (Bush sucks, the economy sucks, America sucks, insert anything else sucks..etc), I'm glad I don't live in the real world according to you. I speak the truth. The trick is you guys.....can't handle the truth. And criticism of my military service, is.....well, un-American. I'm tired of all you naysayers bad-mouthing everything good about America, capitalism, etc. Drown in your dark sea of negativity. I'm looking down from you from my cloud formed from the indomitable intangible of the American Spirit, which is something you wouldn't know what was if it bit you in your sorry, lazy, look-to-govt, woe-as-me, pathetic, sad-sack, I-can't and never could asses. You're drags on the oxygen supply and a shame to the title American. I laugh at your pathetic bleatings.
Oh bama, sweet bama. Here is a dramatic rendering of bama's style of argument (which, incidentally, is synonymous with the substance of bama's arguments as well). The topic being discussed is: The current temperature outside the door of thadeus' apartment.
Just as a question, how many individuals pay close to the stated rate for their bracket, in terms of their total income?
