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.
Brainless. How can anybody fall for this?
So the money that he'll have to pay to the IRS he was going to otherwise bury in a back yard in Omaha? Is Buffett having brain failure? He says he would invest exactly the same amount exactly the same way. He's a liar.
“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”
Ah, the old Keynesian matress theory. Save us from the big, bad savers, Washington.
Whosoever believes the wealth of the rich sits idly is not qualified to speak on economic matters.
“One of Warrens main talking points was that taxation has never stopped investors from buying a good deal.”
Of course it has. Or, rather, it has stopped investors from buying more of a good deal. I suppose Warren is correct if he means that so long as a single penny remains to be spent by private entities, we can still buy into a good deal. Which is true but trivial. The real debate, as always, is over how much or how little of our national wealth the government ought control. Buffet typically evades the issue altogether and leaves unspoken his clear preference for continued government aggrandizement.
What kind of person thinks like this?!?! Answer:
a) someone who believes in the general beneficence of government “investment,” over and above private disposal of private stores of wealth; and
b) someone who stands to personally benefit from continued and expanded governmental disposal of private wealth.