Tax System Favors Wealth Over Work

Tax System Favors Wealth Over Work

There are 203 comments on the www.truth-out.org story from Nov 8, 2010, titled Tax System Favors Wealth Over Work. In it, www.truth-out.org reports that:

Warren Buffett. Tea Partiers rage against taxes and say they're too high. Wrong, says billionaire Warren Buffett: on the rich, they're too low.

Join the discussion below, or Read more at www.truth-out.org.

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Slow Drip

Washington, DC

#1 Nov 8, 2010
Buffet can pay more if he wants. The problem is the democrats and spending. Taxes are too high for everyone. Liberals think it's the govt's money. It's the peoples money the liberals like taking. Just another liberal topix thread. Who givesAfuck about buffett. Adopt some looser homeless drug addict warren. Give your wealth to the govt. Better yet to charity but don't try and take others hard earned money. Liberal pukes are useless scumbags. What would the courts do to someone always lying, stealing, and scaming people out of their money. They would lock them up. That's what these freeloader liberals need! 3 hots and a cot! That's how we will take care of you thieves. There's your handout!
LocalBoy

Indianapolis, IN

#2 Nov 8, 2010
Buffett is suggesting his new toy, Goldman Sachs, does not pay tax. He is suggesting GE does not pay tax.

What he is saying is that our tax code gives preferential treatment to the Wall Streeters.

What is GE and Goldmans net tax liability ?
crayz ox3thongee

Phoenix, AZ

#3 Nov 8, 2010
Head Cheese

Decatur, GA

#4 Nov 8, 2010
I agree with Buffett...as long as we have taxes, all should pay their fare share. Currently, the tax system has all types of loop holes to allow those who can take advantage to save a much higher percentage of their personal wealth from taxes than the the average person.

Even we get rid of taxes, which is the Libertarians ultimate goal.

Or pay their share or don't have taxes. I can't afford to shift money around to hide it from the Feds like Buffet can.
Cranky Old Man

United States

#5 Nov 8, 2010
Warren Buffet is stricty for himself. He did not become wealthy giving away money unless he got something that would profit his own businesses in return, and he probably did not listen to some rich guy telling him how much he should pay in taxes. He likey has more tax shelters than anybody else in the country.
Slow Drip

Washington, DC

#6 Nov 8, 2010
Head Cheese wrote:
I agree with Buffett...as long as we have taxes, all should pay their fare share. Currently, the tax system has all types of loop holes to allow those who can take advantage to save a much higher percentage of their personal wealth from taxes than the the average person.
Even we get rid of taxes, which is the Libertarians ultimate goal.
Or pay their share or don't have taxes. I can't afford to shift money around to hide it from the Feds like Buffet can.
You don't get it. The govt. Spends toooo Much!! Wealth creates jobs. It's not the govt's money. Don't punish people for wealth. Keep the tax the same for now, close loop holes, STOP THE SPENDING! THEN LOWER TAXES EVEN MORE. WTF is wrong with you people. If you control these idiots the morons vote in the money is there. Crazy money is there. They just pizz it away with B.S. programs that do nothing then fail, like oh well, we'll just try another one. STOP THE SPENDING....GOT IT!
NY Dem

United States

#7 Nov 8, 2010
Buffet's lawyers and accountant do everything in their power to ensure he does not pay his fair share of taxes
Getflushed

Torrance, CA

#8 Nov 8, 2010
Leftist junkies are two faced. They set up false economies and milk their followers dry.

The Left is stupid. Wealth IS work. You can't have wealth without work. This two-faced mentality of thieving Democrat Leftists is why the unemployment rate is high. Their attempt at consolidating their wealth involves diminishing real wealth and thereby the economic viability of the nation.
On the road again

United States

#9 Nov 8, 2010
I remember last time Buffet started talking like this. Soon after there was an effort to raise fuel taxes of private planes - and he spoke out againsts it.

Reminds me of when Bill Clinton was saying his taxes were to low - then laughed at the suggestion he voluntarily pay more.

“"I'm A Great American!"”

Since: Sep 08

Obama Nation! USA! USA!

#10 Nov 8, 2010
LOL!!!

Amazing how all the Topix teabaggers (who don't have one brain between the who bunch of them) are going to take Warren Buffett to task on finances!

They don't know enough to shine Buffett's shoes, but they have their right wing radio cliches about tax cuts and trickle down.

Warren Buffett! What does HE know?
PooPoo Platter

United States

#11 Nov 8, 2010
(who don't have one brain between the WHOLE bunch of them)
Dem

Walnut Grove, CA

#12 Nov 8, 2010
Because of our huge budget deficit, the well off will have to pay more whether they like it or not!
MrQ

United States

#13 Nov 8, 2010
Libboons always have trouble with them big sentences
Tony

Bradenton, FL

#14 Nov 8, 2010
Cranky Old Man wrote:
Warren Buffet is stricty for himself. He did not become wealthy giving away money unless he got something that would profit his own businesses in return, and he probably did not listen to some rich guy telling him how much he should pay in taxes. He likey has more tax shelters than anybody else in the country.
All the companies Buffet owns through his network of companies are amoung the worst in the world for screwing over employees in order to increase profits.
Several of his companies have had to be court ordered to pay back employees that were screwed out of money they put in the hours to earn. Along with the least amount of severence pay among large companies.

Buffet is a crook and a theif that wants to manufacture a reputation as a upstanding businessman.......it's all BS.
george

Las Vegas, NV

#15 Nov 8, 2010
An idea being thrown around is for a area on the tax forms that allows you to donate money towards the deficit and eliminate it directly. hoping that enough money would be donated to knock down the deficit altogether.

“JESUS WOULD IMPEACH THE GOP!!!”

Since: May 09

Lake Success, N.Y.

#16 Nov 8, 2010
Getflushed wrote:
Leftist junkies are two faced. They set up false economies and milk their followers dry.
The Left is stupid. Wealth IS work. You can't have wealth without work. This two-faced mentality of thieving Democrat Leftists is why the unemployment rate is high. Their attempt at consolidating their wealth involves diminishing real wealth and thereby the economic viability of the nation.
You can't have wealth without work?

Ever hear of Credit Default Swaps? This among many other slick ways the banking sector has accumulated the majority of wealth in this country.

Do you know why extending the tax cuts to the top 2% has never created any jobs?
Because corporations recieving these tax cuts tend to "bank" the savings, not reinvest the money.
This smoke screen was created by the rich, to convince the 98% of the electorate that if you make them (corporations) pay 3% more, the jobs will disappear.
You want to generate money quickly? Plug every single tax loophole corporations use to shelter their money / repeal NAFTA / keep our jobs here, not overseas, where every single cell phone is manufactured - as are almost all electronic products, right down to the P.C., all of which were initially created in this country.
We have a 7 billion dollar trade deficit with India - why is Obama trying to say a pact with India will create 50,000 jobs, when by simply closing the trade deficit, we may have new opportunities to manufacture here, in our own country.

Doing these things generate income across the spectrum sir.
former middle class

Marietta, GA

#17 Nov 8, 2010
Head Cheese wrote:
I agree with Buffett...as long as we have taxes, all should pay their fare share. Currently, the tax system has all types of loop holes to allow those who can take advantage to save a much higher percentage of their personal wealth from taxes than the the average person.
Even we get rid of taxes, which is the Libertarians ultimate goal.
Or pay their share or don't have taxes. I can't afford to shift money around to hide it from the Feds like Buffet can.
Warren Buffet has $30 billion in a tax exempt charity along with Bill Gates'$50 billion. This is not a tax deduction like the middle class gets this is a tax exempt tax dodge. Oprah has the very same thing, a charity that she owns 100%. Ted Turner the same, numerous Hollywood stars the same. All super rich liberals and the obama administration has kept them tax free while raising taxes on the middle class. No way the democrats will eliminate this tax dodge for their big contributors.
MrQ

United States

#18 Nov 9, 2010
Buffett is stumping for an idea he knows will never happen

but he buffaloes the dummy libs into kissing his can and leaving him alone with his phony propaganda exercise

worth millions no doubt
Cranky Old Man

United States

#19 Nov 9, 2010
If brains was money, there would be a lot more folks broke.
On the road again

United States

#20 Nov 9, 2010
"Many advocates of interventionism are bewildered when one tells them that in recommending interventionism they themselves are fostering anti-democratic and dictatorial tendencies and the establishment of totalitarian socialism. They protest that they are sincere believers and opposed to tyranny and socialism. What they aim at is only the improvement of the conditions of the poor. They say that they are driven by considerations of social justice, and favour a fairer distribution of income precisely because they are intent upon preserving capitalism and its political corollary or superstructure, viz., democratic government.

What these people fail to realize is that the various measures they suggest are not capable of bringing about the beneficial results aimed at. On the contrary they produce a state of affairs which from the
point of view of their advocates is worse than the previous state which they were designed to alter. If the government, faced with this failure of its first intervention, is not prepared to undo its interference
with the market and to return to a free economy, it must add to its first measure more and more regulations and restrictions. Proceeding step by step on this way it finally reaches a point in which all
economic freedom of individuals has disappeared. Then socialism of the German pattern, the Zwangswirtschaft of the Nazis, emerges."

-"Planned Chaos" by economist Ludwig Von Mises (published 1922)

(read it free: http://mises.org/resources/2714 )

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