Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Melanie Sturm: Think Again (Is the Buffett Rule Fair or a Farce?)
The Aspen Times ^ | March 1, 2012 | Melanie Sturm

Posted on 03/01/2012 5:48:33 AM PST by Aspenhuskerette

“The higher up in the tree the monkey goes, the more of his backside that shows,” goes the maxim. It would be hard to climb higher than Warren Buffett, the world's most celebrated investor. However, as the namesake of the Buffett Rule that imposes higher tax rates on the wealthy, Buffett and his backside dangle precariously “out on a limb.”

Residing atop Buffett's tree is New Jersey Gov. Chris Christie, known to deliver the best rhetorical broadside, probably because of his broad backside. Last week, Christie buffeted Buffett, forcing him to Think Again.

After two years of traumatic budget austerity, Christie's 10 percent tax cut for all New Jerseyans is central to his fiscal revival plan.

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


TOPICS: Business/Economy; Government; Politics/Elections
KEYWORDS: buffett; economicgrowth; tax

1 posted on 03/01/2012 5:48:44 AM PST by Aspenhuskerette
[ Post Reply | Private Reply | View Replies]

To: Aspenhuskerette

I think Christie summarized it best when he told Buffet “shut the hell up and write a check”.


2 posted on 03/01/2012 5:58:43 AM PST by chuckee
[ Post Reply | Private Reply | To 1 | View Replies]

To: Aspenhuskerette
So why promote the Buffett Rule if it's economically injurious and fiscally imprudent? Because in an election year, budget gimmicks and fairness illusions trump growth, job creation, tax revenue and economic logic. This isn't tax fairness; it's tax farce.

OUTSTANDING article! Thanks for posting.

"Everything about socialism is sham and affectation." - 23.11 Ch23; Evil; Economic Harmonies; Frederic Bastiat 1801-1850

DEFUND socialist collectives, foreign and domestic.

3 posted on 03/01/2012 5:59:58 AM PST by PGalt
[ Post Reply | Private Reply | To 1 | View Replies]

To: chuckee

The BUFFOON rule.


4 posted on 03/01/2012 7:11:08 AM PST by orchid (Defeat is worse than death, you have to LIVE with defeat.)
[ Post Reply | Private Reply | To 2 | View Replies]

To: chuckee

The Buffoon rule.


5 posted on 03/01/2012 7:12:31 AM PST by orchid (Defeat is worse than death, you have to LIVE with defeat.)
[ Post Reply | Private Reply | To 2 | View Replies]

To: Aspenhuskerette

Thanks for this thread.

Melanie, Melanie, Melanie, - - - . When you wrote “ - - - Even the 49.5 percent of Americans who aren’t currently paying federal income taxes — a status for which they’re wrongly disparaged since other taxes they pay support government (state, payroll, property, sales, gas) - - - “ it brings to mind whether or not you have violated the Sacred Rule called “The Fairness Doctrine.”

Incendiary phrases such as “wrongly disparaged” and “they pay to support government” are horrific to those who believe that “everyone must pay their fair share.”

My understanding of the Buffet Rule is that once a company is absorbed in Berkshire Hathaway, none of the B. H. shareholders get any more income from owning the stock shares of B. H. To get any appreciation from B.H., the shares of stock has to be sold. Warren takes your money, until you ask for it back.

The US Federal Government operates in a similar way in that we pay our personal FIT, and then are given our share of the increased debt that the Federals use to buy more votes.

The difference between Buffet’s B. H. and the Federals is that we can cash out of B. H., but we can’t cash out of the US Federal Government.

Neither pay dividends, unless you are part of the 49.5 % Federal workers who freeload off of the rest of us.

Even Bolshevik Chairman Obama, a true believer in the Scared “Fairness Doctrine,” must be stunned to learn that there exists a “vast left-wing pool of freeloading workers” that somehow have avoided being forced to “pay their fair share” of personal FIT.

If only these personal FIT freeloaders would just “pay their fair share” the Federal Budget would be balanced in a Chicago Gangsta’ Minute!

Make up your mind, Melanie, on the one hand you rail against the idea of “soak the middle class,” but also find the freeloaders to be “wrongly disparaged.” Where do you stand?


6 posted on 03/01/2012 8:01:45 AM PST by Graewoulf (( obama"care" violates the 1890 Sherman Anti-Trust Law, AND is illegal by the U.S. Constitution.))
[ Post Reply | Private Reply | To 1 | View Replies]

To: Graewoulf

As a conservative, I don’t think the problem is that not enough Americans pay taxes. Actually, I think that too many Americans pay taxes. I’m sure you’d agree that it would be better for 0% of Americans to pay federal income taxes, as was the case pre-1909. The problem, therefore, isn’t too little tax revenue, it’s too much government expenses — too many people are benefiting from a government that is doing too much. Cut the government and confine it to it’s original purpose — to provide for the common defense and insure domestic tranquility — and the need to tax so much diminishes.


7 posted on 03/01/2012 1:51:41 PM PST by Aspenhuskerette
[ Post Reply | Private Reply | To 6 | View Replies]

To: Aspenhuskerette

” - - - As a conservative, I don’t think the problem is that not enough Americans pay taxes. “

As a Conservative, you and I must agree to disagree.

The odds are excellent that there won’t be much to Conserve after another 4 years of Bolshevik Dictator Obama.

In fact, since our sorry Congressional RINOs refuses to Impeach the very incompetent Obama, it is likely that we will have all Democrat Presidents for the rest of this century.

In my humble, but ALWAYS correct opinion, most of the 49.5 % of workers who pay no personal FIT will vote for the Obamanator to keep their FIT taxes at ZERO.

Most of the ethic minorities will block vote for their favorite Dictator.

Most of the Democrats will vote for their Nobel Peace Prize winner.

So, ( 49.5 % X 51 % ) + (80% X 12 %) + (60 % X 15 % ) + ( 90 % X 20 % ) = 25.2 % freeloaders + 36.6 % base.

I’ll leave it to you and the lurkers to figure out who in the base will not be double counted as freeloaders also.

BTW, I forgot to add in the Unions, OWS, Sierra Club, University professors, University students, etc.


8 posted on 03/01/2012 10:00:39 PM PST by Graewoulf (( obama"care" violates the 1890 Sherman Anti-Trust Law, AND is illegal by the U.S. Constitution.))
[ Post Reply | Private Reply | To 7 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson