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BILLIONAIRE KOCH TO BILLIONAIRE BUFFETT: Screw Your Call For Higher Taxes - Gov. Is Incompetent
TBI ^ | 8-19-2011 | Henry Blodget

Posted on 08/19/2011 10:48:15 PM PDT by blam

BILLIONAIRE KOCH TO BILLIONAIRE BUFFETT: Screw Your Call For Higher Taxes -- The Government Is Incompetent

Henry Blodget
Aug. 19, 2011, 7:10 PM

Earlier this week, Warren Buffett called bs on the Republican meme that raising taxes on deca-millionaires and billionaires will clobber the economy.

His argument was persuasive--because raising taxes on billionaires won't hurt the economy.

Today, in a statement published at the National Review, another billionaire weighs in on the tax issue--Charles Koch.

Koch doesn't dispute Buffett's contention that he pays a lower tax rate than his secretary and that he could afford to pay a lot more. He also doesn't argue (thankfully) that higher taxes would remove his incentive to invest and create jobs.

What Koch does do is cite the "massive uncontrolled increase in government spending" of the last several years, This, too, is a flawed (or at least incomplete) argument: Government spending has been exploding for the past 11 years, not just the past "several.".

But then, more persuasively, Koch invokes a sentiment lots of reasonable people will relate to: He suggests that he can spend his money a lot more wisely than the government can:

“Much of what the government spends money on does more harm than good; this is particularly true over the past several years with the massive uncontrolled increase in government spending. I believe my business and non-profit investments are much more beneficial to societal well-being than sending more money to Washington.

(Excerpt) Read more at businessinsider.com ...


TOPICS: News/Current Events
KEYWORDS: billionaires; buffett; koch; taxes
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1 posted on 08/19/2011 10:48:20 PM PDT by blam
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To: blam
B T T T ! ! ! ©


2 posted on 08/19/2011 10:49:34 PM PDT by onyx (If you enjoy FR, support it! If you support Sarah Palin & want on her Busy Ping List, let me know.)
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To: blam

It’s about time some of the big businesspeople in this country speak up; the small, independent businesses have been doing all the work for far too long.


3 posted on 08/19/2011 10:55:21 PM PDT by americanophile ("this absurd theology of an immoral Bedouin, is a rotting corpse which poisons our lives" - Ataturk)
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To: blam

Buffet is a POS Commie. He is no better then Soros. The Oracle of Assaholas.


4 posted on 08/19/2011 11:10:44 PM PDT by Lazlo in PA (Now living in a newly minted Red State.)
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To: blam; All

Why doesn’t Warren Buffet, Bill Gates and all the Liberal Millionaires and Billionaires and the Hollywood Crowd (like Babs Streisand, Sean Penn, Tim Robbins, Susan Sarandon, Whoopi Goldberg, Jerry Springer and Matt Damon) just write out some big checks and send them to Washington D.C. to pay down the deficit and help the U.S. Economy. What’s stopping them?


5 posted on 08/19/2011 11:19:30 PM PDT by no dems (No matter who it might be, when I find out a person is a Democrat, I lose respect for them.)
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To: onyx

TELLING.

QUITE TELLING ...

NEITHER WARREN NOR HIS BRIDGE PARTNER, BILL, SEE FIT TO TURN OVER THEIR PERSONAL PELF TO THE US TREASURY.

INSTEAD, BOTH OF THESE PLUTOCRATIC MOGULS EGOTISTICALLY PREFER TO FUND THE GATES FOUNDATION.

WHY?

IF US GOVERNMENT EXPENDITURES ARE SO SENSIBLE, WHY NOT FUND SUCH LARGESSE DIRECTLY???

IT SEEMS BILL AND WARREN TRUST THEIR OWN ALLOCATIONS BEYOND THOSE OF THE FEDERAL GOVERNMENT.

BUT ALL YOU PLEBES SHOULD BE GLAD TO PAY TAXES WITHOUT FURTHER ‘SAY SO’.

MOVE ALONG NOW, YOU SILLY PLEBIANS. MOVE ALONG ...


6 posted on 08/19/2011 11:19:52 PM PDT by dodger
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To: blam
His argument was persuasive--because raising taxes on billionaires won't hurt the economy.

Horse manure.
ANYTIME money leaves private hands and ends up in government hands it hurts the economy.

7 posted on 08/19/2011 11:20:14 PM PDT by Lancey Howard
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To: Lazlo in PA

He is comfortably numb.


8 posted on 08/19/2011 11:21:05 PM PDT by Gene Eric (Your Hope has been Redistributed. Here's your damn Change!)
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To: Gene Eric
LOL.


9 posted on 08/19/2011 11:24:07 PM PDT by Lazlo in PA (Now living in a newly minted Red State.)
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To: americanophile

“It’s about time some of the big businesspeople in this country speak up; the small, independent businesses have been doing all the work for far too long.”

The Left so vilifies the “evil Koch Brothers” that they’re the new Darth Vader/Dick Cheney. Disgusting. But it’d sure be great to see the Donald out there spreading the message! People on all sides listen to him (whether they admit it or not :-)))


10 posted on 08/19/2011 11:26:21 PM PDT by llandres (Forget the "New America" - restore the original one!!)
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To: no dems

>> What’s stopping them?

Covetousness.

They don’t want to make the sacrifice unless they’re assured no one else will escape the “obligation”.


11 posted on 08/19/2011 11:30:04 PM PDT by Gene Eric (Your Hope has been Redistributed. Here's your damn Change!)
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To: Lazlo in PA

You’re good :)


12 posted on 08/19/2011 11:30:44 PM PDT by Gene Eric (Your Hope has been Redistributed. Here's your damn Change!)
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To: blam
I am not for raising taxes on anyone, but it seems to be a big talking point for Obama’s 2012 run.

I almost think that the Republicans should cut him off here and now, say they will agree to a nominal tax increase on everyone (make the 50% that don't pay pay something; you take an interest in spending when you feel it's your money) and then say we will agree to this as long as we get a balanced budget amendment, 10% across the board spending cuts, and no more debt ceiling increases. Any increased revenue goes to pay the debt, period, until things get under control. Close loopholes, get rid of Obamacare and replace it with sensible healthcare solutions like being able to purchase insurance over state lines, etc. And cut the bull!

13 posted on 08/19/2011 11:32:01 PM PDT by MacMattico
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To: blam

It would not surprise me if Warren Buffett is so detached from the economic workings of his empire, that he does not know much any more of what it takes to earn a dollar. He has little worker bees running the numbers and making sure his stock holdings are giving him the biggest bang for the buck. Buffet’s life is more concerned about his social life where he can mingle with the liberal cocktail party crowd and learn their talking points well enough to be loved by the beautiful people.

Warren Buffett, what a sell out to the capitalist foundation of a free nation.


14 posted on 08/19/2011 11:34:04 PM PDT by jonrick46 (2012 can't come soon enough.)
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To: blam
Dear Mr. Buffett,

Do you Itemize? Do all your Democrat buddies Itemize?

If you don't, good for you. If you do, STFU.

Sincerely,

KC

15 posted on 08/19/2011 11:37:08 PM PDT by Kickass Conservative (If Sarah Palin was President, you would have a job by now.)
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To: Gene Eric

Not so much. I am listening to Glen Campbell tonight. My 20 year ago self would punch me in the face for this.

http://www.youtube.com/watch?v=GNHqG9lPcaE&feature=relmfu


16 posted on 08/19/2011 11:41:23 PM PDT by Lazlo in PA (Now living in a newly minted Red State.)
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To: Gene Eric

“They don’t want to make the sacrifice unless they’re assured no one else will escape the “obligation”.”

BINGO. You can also add that those who are “poor” want to share their misery on those who are more successful, and those who worked harder and smarter than they did.


17 posted on 08/19/2011 11:42:27 PM PDT by max americana (FUBO NATION 2012 FK BARAK)
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To: Lazlo in PA

Oh what an album, what a song. Pink Floyd my liberal 1/10 of 1/1000000th. Ok I am on pain pills please forgive my ranting. But Pink Floyd are gods...


18 posted on 08/19/2011 11:56:16 PM PDT by crazydad
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To: crazydad

Rock on Brother.


19 posted on 08/19/2011 11:59:26 PM PDT by Lazlo in PA (Now living in a newly minted Red State.)
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To: blam

That’s my boss, mofo!

:-p


20 posted on 08/20/2011 12:02:08 AM PDT by papertyger
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To: Lazlo in PA

>> My 20 year ago self would punch me in the face for this.

LOL - that’s funny.


21 posted on 08/20/2011 12:05:17 AM PDT by Gene Eric (Your Hope has been Redistributed. Here's your damn Change!)
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To: blam

billionaires can certain create jobs. the same way government can create jobs, but inefficient wasteful jobs though that don’t last and are temporary because any job given to someone must turn a profit or resources are wasted


22 posted on 08/20/2011 12:09:41 AM PDT by 4rcane
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To: americanophile; All

Does it bother anyone here that when Reagan was president, the big company CEOs earned about 40 times what their low level workers were paid? By 1007 the ratio was ranging from 400 to 1 up to 1,000 to 1. Had the CEOs become 10 to 25 TIMES more effective/efficient?

It bothered the heck out of me when my GE stock dropped from $50 a share down to $5 a share and has been hovering between $15 and $20 for the past 2 + years. Then I looked at my annual statements and saw that the top 7 executives of GE had been paid from $11 to $22 million with no cuts during the entire before and after the crisis period. GRRRRRRRR!!! If you own stock, raise heck if your CEOs are overpaid. Currently Ford Motors’ CEO is paid $58million. The UAW is negotiating for something between $50 and $58 thousand for the workers. This is a 1,000 to 1 ratio. Do thay have a good reason to consider this unfair?


23 posted on 08/20/2011 12:14:17 AM PDT by gleeaikin
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To: crazydad

Waters is a dick for not giving Obama the same crap he gave Bush on the issue of war. He’s also a jackass for floating his childish grievances against corporations making no distinction of the fascist operatives of his native turf to that of the American corporations he’s fond of castigating. Other than that, the guy’s a genius.


24 posted on 08/20/2011 12:17:11 AM PDT by Gene Eric (Your Hope has been Redistributed. Here's your damn Change!)
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To: blam

They’re such hypocrites. Buffet gave billions to Gates “charity” in order to ESCAPE paying taxes. They’re on the stump for Obama.


25 posted on 08/20/2011 12:17:19 AM PDT by bronxville (Sarah will be the first American female president.)
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To: Gene Eric

Now I am on a Genesis kick someone please shoot me.

http://www.youtube.com/watch?v=pwACOepzW8k


26 posted on 08/20/2011 12:19:06 AM PDT by Lazlo in PA (Now living in a newly minted Red State.)
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To: Lazlo in PA

Let us know when you spin up some Supertramp, and we’ll oblige.


27 posted on 08/20/2011 12:26:58 AM PDT by Gene Eric (Your Hope has been Redistributed. Here's your damn Change!)
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To: dodger
This is exactly why Buffet is nothing but a snarky sanctimonious hypocrite windbag. All his billions will never make him anything better.

Living proof that money-getting, as John Adams called it, is no sign of either wisdom or virtue.

28 posted on 08/20/2011 12:27:53 AM PDT by hinckley buzzard
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To: Gene Eric

Just took a snort and am on Sound garden. Black hole sun. Steve and Eddie.

http://www.youtube.com/watch?v=55rtXg0ZsLE


29 posted on 08/20/2011 12:39:46 AM PDT by Lazlo in PA (Now living in a newly minted Red State.)
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To: Lazlo in PA

An excellent album. Rusty Cage, Burden in My Hand, Outshined...


30 posted on 08/20/2011 12:45:21 AM PDT by Gene Eric (Your Hope has been Redistributed. Here's your damn Change!)
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To: dodger
Buffett and Gates both know the government is bloated and addicted to vote buying, wasteful spending.


Both billionaires do all they can to avoid paying taxes.


Your comments are...

PREFECT ©

31 posted on 08/20/2011 12:54:07 AM PDT by onyx (If you enjoy FR, support it! If you support Sarah Palin & want on her Busy Ping List, let me know.)
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To: Lazlo in PA
Buffet is a POS Commie. He is no better then Soros. The Oracle of Assaholas.

LOTS of wealthy people become very generous -- AFTER they have theirs, and are in a position to make sure that it's YOU who give YOURS.

Buffet is well aware that any tax laws the government passes on the ultra-wealthy will be dodged with the help of the ultra-attorneys (the helpful legislature will make sure that's possible -- IF they read the language they're given to put in the bills they pass).

32 posted on 08/20/2011 2:41:52 AM PDT by Quiller (When you're fighting to survive, there is no "try" -- there is only do, or do not.)
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To: Quiller

I keep noting income is not wealth. An extremely high income tax prevents people from acquiring wealth through WORK. Everytime I hear one of these liberal jerks pop off on the subject, I just want to strangle them. In Buffet’s case, exactly what product did he develop or invent? Oh, I got it, investor. So, if he wants to “invest” in the government with a few billion that is his business, he won’t miss it. I resent him telling me I need to follow suit.

I always say if your name is on the building it is your business what you do with it and what you pay yourself.


33 posted on 08/20/2011 3:46:25 AM PDT by Mouton (Voting is an opiate of the electorate. Nothing changes no matter who wins..)
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To: Quiller
I don't like Warren Buffett at all but he won't pay a dividend and put his wealth in Bill and Melinda Gates Foundation. The reason he says it go instead of paying his death tax?

Government waste money. Basically the same argument.

34 posted on 08/20/2011 3:47:15 AM PDT by scooby321
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To: papertyger

Mine too!


35 posted on 08/20/2011 4:10:03 AM PDT by Repeal The 17th (Proud to be a (small) monthly donor.)
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To: scooby321

Bingo...Lost in all of this progressive crap is the realization, or lack of realization, that if Buffett turned over his billions to the government this morning it would be gone by tomorrow morning. And if you could steal all of the billions held by all the billionares it would be gone in a matter of months. Still waiting for a job from a thousandare...don’t hold your breath. This government is spending itself to death.


36 posted on 08/20/2011 5:08:46 AM PDT by JohnD9207 (John McCain is a proud Ted Kennedy conservative!)
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To: blam
paying taxed is voluntary... or so the IRS says anyway, so why doesn't the RAT pay what he thinks he owes then???

cause he's a RAT that's why...

37 posted on 08/20/2011 5:59:47 AM PDT by Chode (American Hedonist - *DTOM* -ww- NO Pity for the LAZY)
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To: gleeaikin

Charles Koch created Koch Industries, the largest private employer in the US, from a small company called Rock Island Refining, started by his father.
How can anyone compare his work to some on the assembly line worker at Ford ?


38 posted on 08/20/2011 6:10:02 AM PDT by Eric in the Ozarks (Eh ?)
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To: blam

Fuller disclosure on Citizen Buffet is in order. Much of his wealth derives from the life insurance business. As life insurance has been a useful vehicle for the wealthy to shelter against high estate and income taxes, there is an incentive for insurance companies to keep taxes high in order to sell more insurance to the wealthy.

http://www.americanthinker.com/2010/12/warren_buffett_robber_baron.html


39 posted on 08/20/2011 6:36:18 AM PDT by Mobties (Reduce the government footprint! Let the markets work!)
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To: Mobties

Excellent post!

The article is RIGHT ON! Deserving of it’s own thread in fact!


40 posted on 08/20/2011 6:39:38 AM PDT by Bigun ("The most fearsome words in the English language are I'm from the government and I'm here to help!")
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To: Mobties

And, since high taxes forces family owned businesses to be sold off, Buffet scoops them up into his collection with his insurance company cash flow.


41 posted on 08/20/2011 7:14:21 AM PDT by Eric in the Ozarks (Eh ?)
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To: gleeaikin
Currently Ford Motors’ CEO is paid $58 million.

Sounds like the salary of a top baseball player. Or a star actor that makes two movies in a year. Or the executives at Fannie Mae who cooked the books so they could get their bonuses.

Answer: We should all become CEOs.

Seriously though, I have seen CEOs who provided extremely valuable leadership. In my own company, IBM, we brought in an outsider, Lou Gerstner, to save a sinking ship. We were losing billions per year. One of Gerstner's neighbors told him: "IBM is a national treasure; don't f*ck it up." It was a painful process but Gerstner, as an outsider, reversed some cultural and historical practices that were killing us. When he left we were making billions instead of losing them. I believe he was worth it. There are plenty of others that probably aren't.

But what is the solution? Have the government mandate the ratio of pay? One day after that's enacted the low-paying positions will all be outsourced.

I'm very leery of government meddling in compensation issues. On principle, I believe it's not a power given by the People to the Government. For practicality, I don't believe a bunch of politicians are qualified to decide what compensation is "fair". On history, we have seen the government mandate that all executive compensation above a certain level be tied to performance. That led to an entire generation of executives focused on nothing but short term profits, often to long-term detriment. So, if it's a problem, I don't see a solution.

42 posted on 08/20/2011 7:29:53 AM PDT by Dilbert56 (Harry Reid, D-Nev.: "We're going to pick up Senate seats as a result of this war.")
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To: gleeaikin

The ratio of what CEO’s are paid to what workers are paid is a meaningless number. It’s as stupid as trying to apply a fuzzy, emotional and arbitrary concept like “fairness” to tax rates. The CEO is either worth what he/she is being paid or he/she is not. If they are not, unless it is a privately owned company, they are replaced. If GM makes you upset don’t buy their stock or their products. If you got the stock because you work there find another job. If you have the chops, start your own company and be a CEO and see how well you do at that. Getting emotional about what someone else is making is a waste of your time and energy.


43 posted on 08/20/2011 7:49:59 AM PDT by jdsteel (I like the way the words "Palin for President" make progressives apoplectic.)
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To: Gene Eric

Bloody well right. You know you’ve got a right to say.


44 posted on 08/20/2011 7:51:12 AM PDT by jdsteel (I like the way the words "Palin for President" make progressives apoplectic.)
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To: blam
Mr Buffet,

You are rumored to be worth $47 billion. Put your money where your mouth is, write a check for $46 billion to the US Government.

Your check will fund the US Government for about 5 days.

We don't have a taxing problem, we have a spending problem.

45 posted on 08/20/2011 8:50:46 AM PDT by MNJohnnie (Giving politicians more tax money is like giving addicts free drugs to cure their addiction)
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To: gleeaikin
Goes it bother anyone here that when Reagan was president, the big company CEOs earned about 40 times what their low level workers were paid? By 1007 the ratio was ranging from 400 to 1 up to 1,000 to 1. Had the CEOs become 10 to 25 TIMES more effective/efficient

Nope. Because you suffer from the basic logical flaw Leftists fall into. You suffer from Zero Sum fallacy. You assume that because they have more, workers much have less. That not how it works. The whole pie for everyone is bigger.

There is always going to be a gap between the top and bottom. There will always some in the 0-20,000 range. The top end has gotten so much bigger BECAUSE WE HAVE CREATE THAT MUCH MORE WEALTH.

46 posted on 08/20/2011 8:55:55 AM PDT by MNJohnnie (Giving politicians more tax money is like giving addicts free drugs to cure their addiction)
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To: llandres

Trump is a stupid liberal, a joke, and an idiot. The Koch brothers are the true spokespeople for good business practices. One of them should have run for president instead of him.


47 posted on 08/20/2011 10:09:39 PM PDT by 10thAmendmentGuy
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To: 10thAmendmentGuy

I have admiration and respect for the Kochs, they’re from my part of the country. I simply meant that so many of the sheople pay attention to Trump on money, while the K’s get demonized by liberal media.


48 posted on 08/21/2011 5:30:29 AM PDT by llandres (Forget the "New America" - restore the original one!!)
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To: Lazlo in PA

My personal favorite was Wichita Lineman (ah, the romance of youth :-))


49 posted on 08/21/2011 4:21:17 PM PDT by llandres (Forget the "New America" - restore the original one!!)
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To: Lazlo in PA; crazydad

LOL - Are most of us on here aging Boomers? Amazing how certain songs (and scents) are instant time machines :-)


50 posted on 08/21/2011 4:34:36 PM PDT by llandres (Forget the "New America" - restore the original one!!)
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