Posted on 08/30/2011 5:12:23 AM PDT by AT7Saluki
Wealthy people across Europe are following in billionaire Warren Buffett's footsteps by calling for higher taxes on the rich.
In Germany, a group of 50 people, called "The Wealthy for a Capital Levy," have urged Chancellor Angela Merkel to make people like them pay more in taxes and "stop the gap between rich and poor getting even bigger," The Guardian newspaper reported Tuesday.
In France, 16 of the country's wealthiest people, including billionaire L'Oreal heiress Lilliane Bettencourt and oil company Total's chief executive Christophe de Margerie signed a petition calling for wealthy people to make a "special contribution" to the government's finances.
(Excerpt) Read more at msnbc.msn.com ...
Try this one on for size and read past the first couple sentences and paragraphs:
It’s like a bunch of rich guys running around acting altruistic and claiming the death tax should be reinstated or at higher levels.
What they don’t tell you is their holdings include companies who profit from estate planning, income shelter, etc.
If the government has no death tax it is a direct competition to the insurance companies, law firms, Wall Street, etc.
Without the death tax there is no need for their services and such stringent estate planning.
Here is an excellent video explaining Warren Buffet and Berkshire-Hathaway. Get a cup of coffee and watch it. You will see the scheme explained and then you will get it.
Also note what companies he has acquired, how and why:
Why This Superrich Guy Likes High Taxes
http://www.xtranormal.com/watch/8035391/
Warren Buffett Benefited From Death Tax
http://www.humanevents.com/article.php?id=15951
Wanna know why Buffet pushed for TARP bailout?
Suffice it to say Berkshire owned stock in some largest receipents of TARP valued at $13 billion around that time.
Here is the funny part:
Buffett increased his bank holdings in September, while he was arguing in the media that Congress should approve the bailout to prevent the collapse of the global financial system.
TARP was approved in October of that year, just one month later!
It’s good to be king!
He actually said “if he didn’t think the government was going to act(in a way that would positive and accretive to hihis holding) he wouldn’t have been doing anything that week”. (paraphrased)
For more read here:
http://www.mcclatchydc.com/2009/04/05/65496/buffett-champion-of-bailout-is.html
BofA in April 2009 was around $4 per share and is now trading at $13.80 per share as of 3/02/2001
Wells Fargo in April of 2009 was around $11 per share and is now trading at around $31 per share.
How about US Bancorp trading at around $14 per share in April 2009 and now trading at about $26 per share.
Goldman Sachs Group trading at some $51 dollars per share has now zoomed to above $160 per share.
How about those poor folks at American Express trading at just above $10 per share in 2009 and now they are trading at about $45 per share?
Bottom line: We, the schmuck taxpayer, paid to enhance the holdings of companies like Berkshire and investors in Berkshire.
I’m sure if they wanted to pay more they could.
Any way what does a bunch of euros have to do
with our tax system.
...we can use some of Obama’s stash he gave us to quiet them before they get a piece of thee cake.
If you're rich and feel you're undertaxed, there's nothing stopping you from writing a check to the government in the amount you feel you still owe.
Wealthy Europeans...all 18 of ‘em.
I have to wonder, REALLY wonder what these elitists would say or do if instead of being taxed on ‘reportable’ income they were taxed on ‘total wealth’. That would include all holdings of cash on hand, property, Patents and projected income from patents, Intellectual property and a whole bunch more I can’t think of right off the top of my head.
I bet you the farm they would be screaming at the top of their lungs over unfair taxation.
In other words, I got mine, and I want yours too, is what I see coming from them.
Wells Fargo in April of 2009 was around $11 per share and is now trading at around $31 per share.
How about US Bancorp trading at around $14 per share in April 2009 and now trading at about $26 per share.
Goldman Sachs Group trading at some $51 dollars per share has now zoomed to above $160 per share.
How about those poor folks at American Express trading at just above $10 per share in 2009 and now they are trading at about $45 per share?
Bottom line: We, the schmuck taxpayer, paid to enhance the holdings of companies like Berkshire and investors in Berkshire.
And of course don't forget Ford, which was trading at $1.58 per share on February 20, 2009, then after they took the government bailout closed at $18.79 on January 27, 2011.
Oh wait, Ford didn't take a bailout...
Plus a whole lot of "I've got mine and I like the idea of only a few of us having as much as me, else I won't be as special"
“Warren Buffett’s Company Hasn’t Paid All Taxes Owed In Years, Media Mum”
It is so Hypocritical. One one hand Buffet wants higher taxes. On the other hand Berkshire Hathaway and the IRS are arguing over some deductions (AKA “loopholes”).
What these idiots don’t realize is that the entitled class is still going to hate them even if they pay 90% of their income in tax.
Idiots. What they really want is for the government to make other people pay; if all they really wanted was for the government to make them pay more, they could simply write a check for the balance of their wealth to the government and be done with it.
make people like them pay more in taxes
I see! Government by Roman Legion. A form
of government that Hermann the Liberator and
his forces, chose to reject in 9 BC. The
Battle of the Teutoberg Forest saved nothern
Germany and Scandinavia from Roman Law, in
contrast to common law, and thus brought common
Law to Anglo Saxon England, and later to this
country. All to be destroyed along with the
documents of Liberty as our government was
reduced to Roman Law post 1789, 1860, or 1913
depending on your view of American history.
Misery enjoys company.
Bottom line: We, the schmuck taxpayer, paid to enhance the holdings of companies like Berkshire and investors in Berkshire.
Not willingly I can assure you.
In defense of Warren Buffet, he is a democrat and would
naturally go along with government action that fit his
philosophy, be it economic or political.
Wait!
Ford took a bailout? /s /s /s /s/s//s/s/s/s/s
They must make crappy cars.....
Of course, I have never driven any other car than a Ford.
A tax on total wealth is one way to do it. I rather like the idea of encouraging savings, tough. I’d argue for changing the tax system to one based on expenditures and make only churches excempt from it. My guess is we’d have some of these people living luxurious lifestyles squirming a bit.
I wonder how many of these so-concerned citizens might have a “come to Jesus” moment...
What infuriates is the contradictions of the media when discussing “the rich” with respect to taxation. It starts with the handwringing about “fair shares” and dishonest, greedy rich people getting there on the backs of poor people. However, as soon as the filthy, scheming rich people declare their loyalty to (il)liberal principles, they become thoughtful, credible advocates for “change”.
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