Keyword: buffett

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  • Buffett: My plan was not the 'Buffett Rule'

    09/30/2011 8:15:02 AM PDT · by Sub-Driver · 42 replies
    Buffett: My plan was not the 'Buffett Rule' By Alicia M. Cohn - 09/30/11 11:01 AM ET Billionaire investment guru Warren Buffett, who has become the face of President Obama's $447 billion jobs creation legislation, said Friday that he might not agree with everything in the bill. Obama has called for higher tax rates on millionaires as part of his proposed deficit-reduction plan. Obama’s proposed tax increase, called the “Buffett Rule” in a nod to Buffett’s call for higher taxes on the wealthiest Americans, would apply to those earning annual incomes of $1 million or more. However, Buffett said he...
  • Why The Right Now Despises Warren Buffett (Mega, Tremendous Barf Alert!!!)

    09/28/2011 3:53:04 PM PDT · by Kaslin · 24 replies
    IBD Editorials ^ | September 28, 2011 | Left-wing lunatic E. J. DIONNE JR
    Maybe only a really, really rich guy can credibly make the case for why the wealthy should be asked to pay more in taxes. You can't accuse a big capitalist of "class warfare." That's why the right wing despises Warren Buffett and is trying so hard to shut him up. Militant conservatives are effective because they are absolutely shameless. Many of the same people who think the rich should be free to spend unlimited sums influencing our politics without having to disclose anything are now asking Buffett to make his tax returns public. I guess if you're indifferent to consistency,...
  • Mayor Bloomberg slams Warren Buffett's tax claims; 'The Buffett thing is just theatrics'

    09/25/2011 8:41:53 PM PDT · by george76 · 25 replies
    DAILY NEWS ^ | September 25th 2011 | Reuven Blau
    Mayor Bloomberg Sunday slammed billionaire investor Warren Buffett's call for higher taxes on the super-rich, dismissing it as political theater. "The Buffett thing is just theatrics," Hizzoner said speaking on NBC's "Meet the Press." In August, Buffett - known as "The Oracle from Omaha" - said he forked over a little less than $7 million in taxes last year, which added up to roughly 17% of his income. That percentage was lower than the secretaries in his office, he pointed out. Bloomberg said Buffett's use of the figures was a bit of a smoke and mirrors game. "If Warren Buffett...
  • GBTV Exclusive: Buffett’s secretary (Video)

    09/23/2011 6:03:40 PM PDT · by RightGeek · 24 replies
    GBTV ^ | 9/23/2011 | Glenn Beck
    (Video of Buffett secretary at link - disturbing sight but great information to debunk Buffett’s ridiculous tax delusions. Get more information on the facts Stu lays out here.
  • Republicans demand Buffett’s tax returns

    09/22/2011 3:54:40 PM PDT · by radioone · 12 replies
    The Hill ^ | 09/22/11 | Alicia M. Cohn
    The GOP is making a concerted effort to pressure billionaire investment guru Warren Buffett to release his tax returns to the public. Republicans say Buffett — the public face of Obama’s proposed “Buffett rule” to increase taxes on the wealthy — needs to reveal his finances if his views on tax rates are going to serve as the basis for Obama administration policy. “Will Warren Buffett release his tax returns so we can see why he should be the standard for tax policy?” Sen. John Cornyn (R-Texas) questioned in a tweet Thursday. “If he’s going to be the gold standard,...
  • Buffett to headline blockbuster Obama Chicago fundraiser

    09/22/2011 8:59:50 AM PDT · by KeyLargo · 14 replies
    Chicago Business ^ | Steven R. Strahler
    Buffett to headline blockbuster Obama Chicago fundraiser By: Steven R. Strahler September 21, 2011 (Crain's) — Billionaire investor Warren Buffett is coming to Chicago to help raise money for President Barack Obama's re-election campaign at a $35,800-per-ticket fundraiser next month at the North Shore home of investment banker Byron Trott, according to a draft invitation. The Oct. 27 event will be co-hosted by James Crown, Penny Pritzker, John Rogers Jr. and other major local donors who fueled Mr. Obama's first presidential campaign and are lining up to back him again. Mr. Obama is not expected to attend, according to Mr....
  • Warren Buffett to headline Obama campaign event (Hey Buffett, pay the taxes you already owe)

    09/22/2011 3:49:10 AM PDT · by tobyhill · 11 replies
    msnbc ^ | 9/22/2011 | reuters
    Billionaire investor Warren Buffett will help raise money for President Barack Obama's re-election effort at a $35,800-a-ticket fundraiser next month in Chicago, an Obama campaign official said on Wednesday. Buffett will attend the October 27 event at a private home on Chicago's North Shore that is expected to include major donors to Obama's 2008 presidential run. The Democratic president, who is not expected to attend, is running for re-election in 2012. Buffett, the legendary chairman of Berkshire Hathaway Inc., has landed in the center of a growing political battle over Obama's proposal to raise taxes on the wealthy by inspiring...
  • A Recap Of the CRP Platform Committee Activity At the Convention (California Republicans)

    09/21/2011 12:04:39 PM PDT · by CounterCounterCulture · 2 replies
    Flash Report ^ | 20 September 2011 | Jon Fleischman
    A Recap Of the CRP Platform Committee Activity At the Convention There is much to be said about the California Republican Party’s Fall Convention held in downtown Los Angeles last weekend. Presidential candidates and a straw poll, great workshops and townhalls, tributes, speeches and more. The better part of a thousand GOP activists, donors and leaders descended on the L.A. Live! Marriott-Ritz hotel, across from the Staples Center (we were the pre-show for the Emmy Awards, I guess). This column, however, is devoted to only one aspect of the convention – the ongoing process of the quadrennial adoption of the...
  • Buffett's dad was the Ron Paul of his day (4 term Republican Congressman)

    09/21/2011 10:44:56 AM PDT · by Recovering_Democrat · 19 replies
    Washington Examiner ^ | 09/20/2011 | P Klein
    In recent days, the Buffett name has become synonymous with support for higher taxes, but a long time ago, it was associated with fierce opposition to federal taxation and big government. Warren Buffett may be a committed liberal Democrat, but his father, Howard Buffett, was a four-term Republican member of Congress (1943-49 and 51-53), a John Bircher who fought FDR and warned that the expansion of government was eroding individual liberty.
  • The "Buffett Rule" Is Obama's AMT

    09/20/2011 1:29:47 PM PDT · by 92nina · 6 replies
    ATR ^ | 2011-09-19 | Ryan Ellis
    President Obama today endorsed a “Buffett Rule” for tax policy: “Any reform should follow another simple principle: Middle-class families shouldn’t pay higher taxes than millionaires and billionaires. That’s pretty straightforward. It’s hard to argue against that. Warren Buffett’s secretary shouldn’t pay a higher tax rate than Warren Buffett. There is no justification for it.” Obama is arguing for another “alternative minimum tax (AMT).” In this case, the “Buffett Rule” seems to imply that high income households should pay taxes (even on capital gains) at about a 25 percent rate, no matter what. That is the marginal tax rate for most...
  • Warren Buffett's 'Secretary' Is Not Amused

    09/20/2011 11:22:17 AM PDT · by WOBBLY BOB · 27 replies
    the atlantic ^ | 9-20-11 | Garance Franke-Ruta
    Carrie Kizer is not amused. An executive assistant for Berkshire Hathaway Inc. CEO Warren Buffett in Omaha, Neb., she has been fielding media requests for two days from reporters looking to talk to Warren Buffett's secretary. The calls have been coming ever since the president in announcing a plan to raise taxes on investment income said Monday morning, "Warren Buffett's secretary shouldn't pay a higher tax rate than Warren Buffett."
  • Buffett’s math is a bit off

    09/20/2011 10:41:34 AM PDT · by Hunton Peck · 18 replies
    NEW YORK POST ^ | September 20, 2011 | S.A. MILLER
    WASHINGTON -- Billionaire investor Warren Buffett isn’t as undertaxed as he and President Obama seem to think. *** Buffett actually was taxed twice on his investment income. First, Buffett had to make the money he invested. Those earnings were taxed as corporate income, at about a 35-percent rate. Then, Uncle Sam took another cut when Buffett invested the money and earned a profit. That’s when Buffett paid the 15 percent capital-gains tax rate. All told, after combining corporate taxes and capital gains taxes, Buffett forked over about 45 percent of his earnings.
  • AP fact check: Secretaries don’t pay more taxes than their bosses (Paging Warren Buffet)

    09/20/2011 9:37:03 AM PDT · by SeekAndFind · 21 replies
    Hotair ^ | 09/19/2011 | Ed Morrisey
    Let's hope that Warren Buffet is better at managing funds than he is at tax policy. After Buffett complained that his secretary pays a higher tax rate than he does, Barack Obama decided to call his new class-warfare taxes “the Buffett Rule” and emphasize that he wants to make taxes more “fair.” But was Buffett right? According to an AP fact check — and just about every ounce of common sense that exists outside of the class-warfare fever swamps of the White House these days — not at all: “Middle-class families shouldn’t pay higher taxes than millionaires and billionaires,” Obama...
  • The Buffett Alternative Tax (The rich don't pay lower average tax rates)

    09/20/2011 5:20:38 AM PDT · by markomalley · 3 replies
    WSJ ^ | 9/20/11 | Paul Gigot
    Washington has repeated nearly every economic policy mistake of the 1930s in recent years, so why not repeat one of the bigger blunders of the 1960s too? We refer to President Obama's proposal yesterday for a new "Buffett Rule" to raise taxes on Americans earning more than $1 million a year. This may sound familiar to readers of a certain age, because it is how the current, and much-hated, Alternative Minimum Tax was born. Mr. Obama, meet Joe Barr. As LBJ's last Treasury Secretary—he served only 30 days—Barr became famous for his January 1969 testimony before Congress that 21 millionaires...
  • FACT CHECK: Are Rich Taxed Less Than Secretaries?

    09/20/2011 3:28:46 AM PDT · by edpc · 43 replies
    AP via Yahoo News ^ | 20 Sept 2011 | Stephen Olemacher
    WASHINGTON (AP) — President Barack Obama makes it sound like there are millionaires all over America paying taxes at lower rates than their secretaries. "Middle-class families shouldn't pay higher taxes than millionaires and billionaires," Obama said Monday. "That's pretty straightforward. It's hard to argue against that."
  • Obama's "Buffett Tax" Sham

    09/19/2011 1:34:08 PM PDT · by Kaslin · 10 replies ^ | September 19, 2011 | Guy Benson
    Today the president will unveil a multi-trillion-dollar deficit reduction package, which reportedly includes hundreds of billions of dollars in tax increases.  These tax hikes could top $1.2 Trillion -- a figure that includes the $800 Billion in tax increases the president's plan will propose, plus the price tag for his unpaid-for $450 Billion "jobs plan."  Careful -- these numbers should not be confused with the additional record-shattering $800 Billion across-the-board tax increases scheduled to take effect in 2013, when the current Bush rates expire.  Two daunting tax cliffs; so little time.  For a solid overview of why the president's deficit...
  • Obama Gets the Numbers Wrong In His Tax Plan

    09/19/2011 9:55:28 AM PDT · by JohnLott · 27 replies
    Fox News ^ | September 19, 2011 | John R. Lott Jr.
    The justification for President Obama's new proposed tax on the wealthy is wrong on the numbers. Despite the president's claims, millionaires don't pay lower tax rates than middle class workers. His proposed surcharge on capital gains and dividend taxes will raise already high tax rates on high income individuals and force even more investment outside the United States. The so-called "Buffett rule" is based on Warren Buffett's claim: "The 400 of us [here] pay a lower part of our income in taxes than our receptionists do, or our cleaning ladies, for that matter. If you’re in the luckiest 1 per...
  • The Real Reasons That NWO Buffett Supports Higher Taxes and Obama

    09/19/2011 10:44:32 AM PDT · by csd · 4 replies ^ | Sep 19, 2011 | RidgeRunner
    How can Warren Buffett, one the greatest investors of our time, support higher taxes. On the surface this doesn't make sense. Buffet is a rich guy- right? If he supports higher taxes it must mean either he's cares about poor folks or has a secret recipe to save America? Anyway that you look at it Buffett championing higher taxes and being quoted by Obama is a remarkable developement. Yet there are some good reasons why Buffett is taking this position. The reason Buffet likes more taxes is that he is a billionaire. Does Buffet make income off his investments; sure...
  • Obama stepped in it with Buffett and his Assistant (vanity)

    09/19/2011 9:43:59 AM PDT · by taildragger · 18 replies
    9/19/2011 | taildragger
    I am listening to Obama complain that Warren's Secretary pays a higher rate than he does.My friends, I think he stepped in a meadow muffin here.Let's say she is a highly compensated Secretary, she is probably in a 28% income tax rate if not higher, while Warren's income from Dividends and Capital Gains is 15%.So rather than raise Warren's rates, why not lower hers to 15%? While your at it, make everyone's Income Tax rate 15% so we all can understand it, no deductions works for me as well. Heck while we at it, lower Corporate tax rates to 15%...
  • The Billionaires Who Run Obama's America

    09/19/2011 4:40:38 AM PDT · by Kaslin · 30 replies ^ | September 19, 2011 | John Ransom
    So this is what it’s come to in America. Earwitness News reports that our Taxer-in-Chief is going to try again to tax the rich. As part of his deficit reduction plan,” reports the LA Times, “Obama on Monday will propose a new minimum tax rate for millionaires to ensure they pay an effective federal tax rate at least as high as that paid by middle-class earners, administration officials said.” "The president will call the new tax the ‘Buffett rule’ after billionaire investor Warren Buffett, an Obama supporter who has publicly complained that tax breaks allow him to pay a lower...
  • Little Barry Orders New Shoes

    09/18/2011 5:35:59 PM PDT · by jfd1776 · 9 replies
    Illinois Review ^ | September 18, 2011 A.D. | John F. Di Leo
    Warren Buffett, having already joined the billionaires’ club, enlists the president in restricting membership so it doesn’t get so crowded in there… Sometime around the tenth century A.D., probably in the southern Tang dynasty of China, a practice grew popular that horrifies us today. They called it foot binding. One story has it that young dancing girls were considered so lovely and talented that all women, even when full-grown, would be prettier if only they had the tiny feet of dancing children – so they arranged it. Another story has it that a popular empress had a club foot, and...
  • Obama to propose 'Buffett Tax' on millionaires [ But Buffet only pays 17% .. er when he pays ]

    09/18/2011 11:29:59 AM PDT · by NoLibZone · 18 replies
    ABC news AU ^ | Sept 18 2011 | ABC news
    US president Barack Obama, in a populist step designed to appeal to voters, will propose a 'Buffett Tax' on people making more than $1 million a year as part of his deficit recommendations to Congress on Monday. Such a proposal, among suggestions to a congressional super committee expected to seek up to $US3 trillion in deficit savings over 10 years, would appeal to his Democratic base ahead of the 2012 election, but may not raise much in revenues. White House communications director Dan Pfeiffer said in a tweet on Saturday the tax would act as "a kind of [Alternative Minimum...
  • Obama Tax Plan Would Ask More of Millionaires (Minimum Tax Dubbed "Buffett Rule")

    09/17/2011 4:54:13 PM PDT · by kristinn · 76 replies
    The New York Times ^ | Saturday, September 17, 2011 | Jackie Calmes
    WASHINGTON — President Obama on Monday will call for a new minimum tax rate for individuals making more than $1 million a year to ensure that they pay at least the same percentage of their earnings as middle-income taxpayers, according to administration officials. With a special joint Congressional committee starting work to reach a bipartisan budget deal by late November, the proposal adds a new and populist feature to Mr. Obama’s effort to raise the political pressure on Republicans to agree to higher revenues from the wealthy in return for Democrats’ support of future cuts from Medicare and Medicaid. Mr....
  • Obama Takes Class Warfare To The Next Level With The "Buffet Rule" And A New "Millionaire Tax"

    09/17/2011 10:20:35 PM PDT · by Nachum · 34 replies
    Zero Hedge ^ | 9/17/11 | Tyler Durden
    In his increasingly desperate attempts to pander to a population that has by now entirely given up on the hope, and barely has any change left, Obama is going for broke (or technically the reverse) by setting the class warfare bar just that little bit higher. This time around, his targets are millionaires, who according to the NYT are about to see their taxes soar. Or not: nobody really knows if the proposed "Buffett Rule", affectionately known for crony communist #1, will impact just millionaires income tax, which incidentally is the same as what everyone else is paying, or, far...
  • $5.3M Dinners With Warren Buffett Lead to Dream Job for Money Manager

    09/12/2011 4:55:03 PM PDT · by FR_addict · 4 replies
    Yahoo Finance ^ | Monday September 12, 2011 | CNBC
    A portfolio manager who paid a total of $5.3 million for two meals with Warren Buffett has just been hired to help pick stocks at Berkshire Hathaway. In a news release this morning, Buffett's company says 50-year-old Ted Weschler of Charlottesville, Va., will join Berkshire early next year. He is currently managing partner at the hedge fund he started in 2000, Peninsula Capital Advisors. Weschler joins 2010 Berkshire addition Todd Combs as a portfolio manager. And in an unusual twist, Fortune's Carol Loomis reveals this morning that Weschler met Buffett by winning Buffett's annual charity "Power Lunch" auction for the...
  • Bank of America says will cut 30,000 positions

    09/12/2011 8:41:43 AM PDT · by Red Badger · 12 replies ^ | 09-12-2011 | By Steve Gelsi
  • Warren Buffett’s Berkshire Hathaway owes $1 billion in back taxes

    09/02/2011 11:45:27 AM PDT · by SeekAndFind · 28 replies · 1+ views
    Hotair ^ | 09/02/2011 | Tina Korbe
    C’mon, IRS. “Stop coddling the super rich.” Contrive to successfully extract the taxes they already owe.Mr. Buffett, I barely want to waste my breath on your blatant hypocrisy.And, Mainstream Media (by which I mean the NYT, which ran Buffett’s obnoxious op-ed in the first place), WHERE ARE YOU?From NewsMax: Billionaire investor Warren Buffett triggered a major debate over taxes recently when he wrote in The New York Times that he should be paying more to the federal government. He called on Washington lawmakers to up tax rates on the rich.But it turns out that Buffett’s own company, Berkshire Hathaway, has...
  • Warren Buffett’s folksy act conceals his 'steal' of BofA

    08/30/2011 8:28:49 AM PDT · by SeekAndFind · 15 replies · 1+ views
    New York Post ^ | 08/30/2011 | Terry Keenan
    Warren Buffett has made a career out of casting himself as a common man -- a folksy octogenarian from Omaha who also is the richest man on earth. The billionaire everyman never misses an opportunity to sow his optimistic seeds about stock ownership and America’s future, while professing his profound desire to pay more taxes. Yet when it comes to investing his own billions, this common man has little time for common stocks, but plenty of time for special deals that save him taxes and almost always put him ahead of mere mortal shareholders. Such was the case this past...
  • Warren 'Raise My Taxes' Buffett's Company May Owe IRS $1 Billion

    08/30/2011 4:45:07 PM PDT · by Sub-Driver · 16 replies
    Warren 'Raise My Taxes' Buffett's Company May Owe IRS $1 Billion By Noel Sheppard Created 08/30/2011 - 5:29pm As NewsBusters reported Monday, American media almost completely ignored a report that Warren "Raise My Taxes" Buffett's company Berkshire Hathaway has been fighting with the IRS for almost a decade over taxes it owes. On Tuesday, the organization digging into Berkshire Hathaway's numbers, Americans for Limited Government, estimated the total could be as much as $1 billion: Using only publicly-available documents, a certified public accountant (CPA) detailed Berkshire Hathaway’s tax problems to ALG researcher Richard McCarty. Now, the American people have a...
  • Obama Supporter Warren Buffett’s Co. Hasn’t Paid Some Taxes Since 2002

    08/30/2011 9:00:35 AM PDT · by Lazlo in PA · 11 replies
    The Blaze ^ | 08-29-11 | Jonathon M. Seidl
    Remember when Warren Buffett — a staunch Obama supporter — said that rich people like him would be willing to pay more taxes to help out? If you do, it will probably shock you that his company, Berkshire Hathaway, has back taxes dating back to 2002. The New York Post explains: That’s right: As Americans for Limited Government President Bill Wilson notes, the company openly admits that it owes back taxes since as long ago as 2002. “We anticipate that we will resolve all adjustments proposed by the US Internal Revenue Service (“IRS”) for the 2002 through 2004 tax years...
  • Wealthy Europeans back Warren Buffett's call for higher taxes on the rich

    08/30/2011 5:12:23 AM PDT · by AT7Saluki · 26 replies
    pMSNBC ^ | 8/30/11 | Staff
    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...
  • Is Barack buddy Buffett betting on bank bailout?

    08/29/2011 1:11:00 PM PDT · by crosshairs · 13 replies
    Washington Examiner ^ | 08/29/11 | Timothy P. Carney
    If you're looking for proof that Too Big to Fail is still alive, and that Washington won't leave large financial institutions to the mercies of capitalism, consider billionaire Obama fundraiser Warren Buffett's $5 billion bet on struggling Bank of America. Buffett, who recently won plaudits for advocating higher taxes, has spent four years betting on bailouts and big government -- and tilting the playing field in that direction by putting his money and prestige at the service of Barack Obama. Buffett gave the maximum donation to Obama in 2007 -- $4,600 to his campaign, and $28,500 to the Democratic National...
  • Warren Buffett is wrong

    08/27/2011 5:25:35 PM PDT · by CutePuppy · 56 replies
    Baltimore Sun ^ | August 24, 2011 | Brian H. Murphy
    The United States tax code is so backward that billionaire investor Warren Buffett pays only 17 percent in income taxes, a rate even lower than that of his secretary. Or so he claims. While I have great respect for Mr. Buffett, and while I agree that our tax code could benefit from major adjustments, Mr. Buffett's statement is misleading. And he knows it. Even worse, when Mr. Buffett implies that wealthier Americans are under-taxed, it gives public officials cover to pursue disastrous policies such as Maryland's failed millionaire's tax, and the pending sales tax on interstate Internet purchases known as...
  • Warren Buffett invests $5 billion in Bank of America, saves the day (What a joke!)

    08/25/2011 1:32:04 PM PDT · by tobyhill · 12 replies
    cbs ^ | 8/25/2011 | Michelle Castillo
    Warren Buffett has swooped in to save the day, this time for Bank of America. Warren Buffett's Berkshire Hathaway Inc. agreed to invest $5 billion in Bank of America Corp. to help assure investors that the company will not go under. What's with all the recent do gooder deeds? Is this guy considering a run for president in 2012? Probably not. By investing and "bolstering confidence" in Bank of America, Buffett will be rewarded with a handsome $300 million annually. Maybe he can use some of that to donate to his "the rich deserve to be taxed" cause.Already stocks have...
  • Buffett to host high-profile fundraiser for Obama

    08/25/2011 12:32:03 PM PDT · by mojito · 25 replies
    CNN Money ^ | 8/25/2011 | Charles Riley
    Warren Buffett will host a fundraiser for President Obama next month in New York City, the Berkshire Hathaway CEO told CNNMoney on Thursday. With the 2012 election season just around the corner, the campaign to put Obama back in the White House for a second term is well underway -- and it's not unusual for the campaign to boost the president's drawing power by allowing him to share the stage with a well known benefactor. Billed as an "Economic Forum Dinner with Warren Buffett," the fundraiser will be held at the Four Seasons restaurant in New York and moderated by...
  • My Response To Buffett And Obama

    08/22/2011 4:39:05 PM PDT · by Sub-Driver · 7 replies
    My Response To Buffett And Obama Before you ask for more tax money from me, raise the $2.2 trillion you already collect each year more fairly and spend it more wisely. By HARVEY GOLUB Over the years, I have paid a significant portion of my income to the various federal, state and local jurisdictions in which I have lived, and I deeply resent that President Obama has decided that I don't need all the money I've not paid in taxes over the years, or that I should leave less for my children and grandchildren and give more to him to...
  • Obama calls Warren Buffett, Ford CEO for advice on creating jobs

    08/22/2011 2:16:09 PM PDT · by EBH · 34 replies
    The Hill ^ | 8/22/11 | Erik Wasson
    “The President and Mr. Buffett discussed the overall outlook on the economy and the reaction to the headwinds we’ve experienced over the last couple of months," White House spokesman Josh Earnest said. "They talked a little bit about some possible measures that would spur investment and increase economic growth. And they also talked about some measures that could address the long-term fiscal situation in this country.” Obama also called Mulally, and they discussed the disruptions to the auto industry supply chain caused by the Japanese tsunami as well as ways to stimulate exports and investment. Ford was a major opponent...
  • Spending Cuts, Not Tax Hikes, Best for Deficit: NABE

    08/22/2011 6:51:56 AM PDT · by MNJohnnie · 12 replies
    CNBC ^ | 08-22-11 | CNBC
    The majority of economists surveyed by the National Association for Business Economics believe that the federal deficit should be reduced only or primarily through spending cuts. The survey out Monday found that 56 percent of the NABE members surveyed felt that way, while 37 percent said they favor equal parts spending cuts and tax increases. The remaining 7 percent believe it should be done only or mostly through tax increases. As for how to reduce the deficit, nearly 40 percent said the best way would be to contain Medicare and Medicaid costs. Nearly a quarter recommended overhauling the tax system...
  • A billionaire's mouth where his money isn't

    08/21/2011 5:45:26 AM PDT · by Kaslin · 29 replies ^ | August 21, 2011 | Paul Jacob
    Billionaire Warren Buffett created a stir last week, writing in the New York Times, “My friends and I have been coddled long enough by a billionaire-friendly Congress.” “It’s time for our government to get serious about shared sacrifice,” Mr. Buffett urged, specifically advocating that Congress “raise rates immediately on taxable income in excess of $1 million, including, of course, dividends and capital gains.” Buffett has a point, of course, perhaps several points. Who can defend the fairness, or even sanity, of a tax system in which a man making tens of millions or even billions pays less in taxes, percentage-wise,...
  • BILLIONAIRE KOCH TO BILLIONAIRE BUFFETT: Screw Your Call For Higher Taxes - Gov. Is Incompetent

    08/19/2011 10:48:15 PM PDT · by blam · 50 replies
    TBI ^ | 8-19-2011 | Henry Blodget
    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....
  • The Real Reason Warren Buffett's Taxes are Low

    08/17/2011 9:03:24 AM PDT · by MissesBush · 23 replies
    Yahoo News ^ | 08/17/11 | Peter J. Reilly
    Warren Buffett was in the New York Times today bragging about his low effective tax rate and saying how he would like to be paying more. Fellow Forbes contributor Tim Worstall weighed in quibbling about Mr. Buffet not factoring in the corporate taxes on Berkshire Hathaway's earnings. I'm just a simple CPA, whose firm won't even let him sign audit reports anymore. (That's true of all tax partners here by the way. I don't take it personally). I don't want to quibble with a quibble but apparently economists have a hard time figuring out the incidence of the corporate income...
  • Warren Buffett goes through his tax return, talks about capitalism, euro threat, taxes, etc.

    08/16/2011 8:43:59 AM PDT · by 49parallel · 19 replies
    Charlie Rose ^ | August 15, 2011 | Charlie Rose
    Warren Buffett goes through his tax return, talks about capitalism, hard work and taxes, the euro threat, etc. "Warren Buffett discusses his New York Times Op-Ed piece 'Stop Coddling the Super-Rich' which calls on Congress to increase taxes on the Super-Rich like himself."
  • Geez, Mr. Buffett, Quit Whining!

    08/15/2011 5:43:07 PM PDT · by Bob Leibowitz · 11 replies
    Leibowitz's Canticle ^ | August 15, 2011 | Leibowitz
    Dear Mr. Buffett: I've never thought of you as helpless and I am not now enjoying the mental image of you publicly whining about your plight in The New York Times. Quit complaining that you only paid $6,938,744 in federal taxes last year. After all, it's your own fault. You've spent zillions through the years paying CPAs and tax lawyers to help you and your companies avoid the very taxes you now complain isn't enough. Just recently you sheltered billions, literally billions, with the Gates Foundation rather than paying estate and capital gains taxes. Does your hypocrisy know no shame?...
  • Buffett: I beg you to raise my taxes

    08/15/2011 2:51:20 PM PDT · by IbJensen · 39 replies
    Politico ^ | 8/15/2011 | Politico Staff
    Warren Buffett, the third wealthiest man in the world with a net worth of about $80 billion, is demanding the U.S. government make the rich like him pay higher taxes and says they should no longer be protected like endangered “spotted owls.” In a New York Times op-ed on Monday, titled “Stop Coddling the Rich,” Buffett, Berkshire Hathaway’s chair and CEO, said he and his “mega-rich” friends have been spared the “shared sacrifice” the country’s leaders have asked for as the country veers toward a double-dip recession. “While the poor and middle class fight for us in Afghanistan, and while...
  • Obama: Buffett is right on taxes

    08/15/2011 11:03:32 AM PDT · by Nachum · 35 replies
    Politico ^ | 8/15/11 | JENNIFER EPSTEIN
    The people gathered at a Monday afternoon town hall in rural Minnesota don’t make as money as Warren Buffett, but they likely pay a higher tax rate than him, President Barack Obama said during his appearance, citing the billionaire investor’s op-ed in The New York Times to make the case the Washington needs more revenues. “Now, I may be wrong, but I think you’re a little less wealthy than Warren Buffett, but that’s just a guess,” Obama said to laughter along the waterfront in Cannon Falls.
  • Warren Buffett asks Congress to stop “coddling” the super-rich

    08/15/2011 9:51:00 AM PDT · by Titus-Maximus · 42 replies
    Global Post ^ | Aug 15, 2011 | staff
    In a The New York Times op-ed published Monday, Warren Buffett wrote that "[m]y friends and I have been coddled long enough by a billionaire-friendly Congress," and called for tax increases for Americans who make more than $1 million. Most of those people, he claimed, "wouldn’t mind" being told to pay more taxes. ...for those making more than $1 million — there were 236,883 such households in 2009 — I would raise rates immediately on taxable income in excess of $1 million, including, of course, dividends and capital gains. And for those who make $10 million or more — there...
  • Stop coddling the super-rich: Buffett (Obama supporter Warren Buffett admits fudging tax returns)

    08/15/2011 3:53:55 AM PDT · by tobyhill · 52 replies
    yahoo ^ | 8/15/2011 | By Santosh Nadgir
    Billionaire Warren Buffett urged lawmakers to raise taxes on the country's super-rich to help cut the budget deficit, saying such a move will not hurt investments. "My friends and I have been coddled long enough by a billionaire-friendly Congress. It's time for our government to get serious about shared sacrifice," The 80-year-old "Oracle of Omaha" wrote in an opinion article in The New York Times. Buffett, one of the world's richest men and chairman of conglomerate Berkshire Hathaway Inc , said his federal tax bill last year was $6,938,744. "That sounds like a lot of money. But what I paid...

    08/09/2011 6:42:25 PM PDT · by george76 · 4 replies
    YouTube ^ | Apr 5, 2011 | MICHAEL STEINHARDT
    Just after dawn, hedge fund manager Michael Steinhardt appeared on CNBC as the token contrarian in the Titans of Groupthink series. After some pleasantries we hit the 6 minutes mark where the formerly trite narrative experienced a flash crash. In the most candid discussion of the truth in America, Steinhardt said that "we live in an inland sea of calm waters while surrounding us are turbulent, horrible places," to which everyone nodded soberly in agreement, unaware of what was coming next. "America seems almost as insular as it has in times past," He continued. "America is not the wonderful place...
  • Buffett to FBN: S&P Downgrade "Doesn't Make Sense"

    08/06/2011 12:23:30 AM PDT · by Clairity · 45 replies
    Fox Business Network ^ | Aug 5, 2011 | Liz Claman
    Berkshire Hathaway Chairman and CEO Warren Buffett told the FOX Business Network that S&P's downgrade of the United States' triple-A credit rating "doesn't make sense." "I don't get it," Buffett told FBN late Friday night. In fact, Buffett reaffirmed his belief in the quality of the United States' credit telling FBN, "In Omaha, the U.S. is still triple A. In fact, if there were a quadruple-A rating, I'd give the U.S. that." Buffett told me tonight that Berkshire Hathaway's T-bill exposure is significant. "We just filed our 10Q and we have $47 billion in cash and cash equivalents. Well over...
  • Warren Buffett: I Could End the Deficit in 5 Minutes

    07/09/2011 10:56:17 AM PDT · by barmag25 · 45 replies
    michelle malkin ^ | July 8, 2011 | Doug Powers
    Billionaire Obama supporter Warren Buffett weighed in about deficit reduction with a hypothetical plan: “I could end the deficit in 5 minutes. You just pass a law that says that anytime there is a deficit of more than 3% of GDP all sitting members of congress are ineligible for reelection.” I like it, Mr. Buffett, but you might have more than a little trouble getting both chambers of Congress to pass a law that castrates their power and would ultimately send them looking for private sector work in this economy. Buffett also added: “We will pay our debts in the...