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 ...
>> 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!