Skip to comments.BILLIONAIRE KOCH TO BILLIONAIRE BUFFETT: Screw Your Call For Higher Taxes - Gov. Is Incompetent
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
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 ...
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.
Buffet is a POS Commie. He is no better then Soros. The Oracle of Assaholas.
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?
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.
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 ...
ANYTIME money leaves private hands and ends up in government hands it hurts the economy.
He is comfortably numb.
“Its 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 :-)))
>> Whats stopping them?
They don’t want to make the sacrifice unless they’re assured no one else will escape the “obligation”.
You’re good :)
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!
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.
Do you Itemize? Do all your Democrat buddies Itemize?
If you don't, good for you. If you do, STFU.
Not so much. I am listening to Glen Campbell tonight. My 20 year ago self would punch me in the face for this.
“They dont want to make the sacrifice unless theyre 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.
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...
Rock on Brother.
That’s my boss, mofo!
>> My 20 year ago self would punch me in the face for this.
LOL - that’s funny.
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
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?
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.
They’re such hypocrites. Buffet gave billions to Gates “charity” in order to ESCAPE paying taxes. They’re on the stump for Obama.
Now I am on a Genesis kick someone please shoot me.
Let us know when you spin up some Supertramp, and we’ll oblige.
Living proof that money-getting, as John Adams called it, is no sign of either wisdom or virtue.
Just took a snort and am on Sound garden. Black hole sun. Steve and Eddie.
An excellent album. Rusty Cage, Burden in My Hand, Outshined...
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).
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.
Government waste money. Basically the same argument.
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.
cause he's a RAT that's why...
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 ?
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.
The article is RIGHT ON! Deserving of it’s own thread in fact!
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.
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.
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.
Bloody well right. You know you’ve got a right to say.
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.
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.
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.
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.
My personal favorite was Wichita Lineman (ah, the romance of youth :-))
LOL - Are most of us on here aging Boomers? Amazing how certain songs (and scents) are instant time machines :-)