Whatever extra taxes Buffett may pay will be more than offset by the favorable government treatment his companies will gain as his payoff for shilling. That’s how ‘crony capitalism’ works.
Realistically speaking, this is what Buffet wants -— He is saying that If you want to deal with the deficit, you need to cut spending AND raise revenue. Cutting without raising revenue is like having a meal without the vegetables. Yes, you can get by, but it doesn’t promote a healthy body if your not taking all the right steps ( I think this was his analogy ).
One of Warren’s main talking points was that taxation has never stopped investors from buying a good deal.
He argues that if you even raised taxes among billionaires by 4% and dropped taxes for the middle class by 2-4%, you’d still raise revenue while giving people money back in their pockets to do direct investing, buying, and following a standard circular flow of money. In fact it’d be better for business because that 2-4% would go back into companies instead of a bank account where it then might not get touched again for years and is essentially dead money to our active economy.
That is his argument not mine. You are free to rebut him and in fact, this is what this thread is for.
DING! DING! DING! DING! DING! DING! DING! DING! DING! DING! DING! DING! DING! DING!