Buffett: America’s Seen Worse Problems than Fiscal Cliff

Newsmax ^ | Saturday, 29 Dec 2012 10:24 AM | Sandy Fitzgerald

[Olog-hai]

Warren Buffett says he’s optimistic the nation’s debt problems will be solved, despite the political fighting that’s threatening to put the country over the “fiscal cliff.” …

“The United States is richer than it’s ever been. We have $50,000 or so of GDP per person. But we’ve overpromised and we’ve also under taxed to some extent, so we find ourselves with this great fiscal imbalance. But it was man made. We’re a rich country. It can be solved. … We’ll be able to overcome this problem. America has faced a lot tougher problems than this one. We’ll get it solved.” …

[roadcat]

Amazing what was affordable back then in terms of real wages, and no thanks to commie unions.

I don't believe any of those calculations, such as the BLS Inflation Calculator, put out by the government. Skewed by politics and methodology that has changed over the years, to suit political purposes. Let's say one made $10,000 back in the 1960's. it's difficult to say what the equivalent would be today.

Many things that were free and provided by government then are now fee-based. For example, I remember when many things were free in our parks in the SF region and are now expensive, such as the zoo, museums, aquarium, Japanese Tea Garden, Conservatory of Flowers, etc. Bridge tolls were cheap (and supposedly temporary). Lots of hidden fees on our utility bills, electronic goods, auto components, etc. that reduce buying power. We're being double-taxed everywhere, taxed on our paychecks and again elsewhere.

Truth is, we kept a lot more of our income as a percentage back in the old days. The jackals in government want 50 percent and more of what we produce, and the sheep in the populace are agreeable to that.

[longtermmemmory]

lets see...

Buffet opposed the oil pipeline, for transporting oil on his own trains.

Buffet celebrates the return of the deathtax so people can buy his deathtax insurance.

[Olog-hai]

Well, if there’s any other benchmark besides the Consumer Price Index, I don’t mind using it.

[shalom aleichem]

thanks (and I did tell the mean old putz)

[windsorknot]

He may be a financial guru, but he is a dunderhead in every other department.

[Intolerant in NJ]

Buffett: America’s Seen Worse Problems than Fiscal Cliff...you bet, Warren - and since vultures like you and Soros make their big bucks by picking up distressed assets and waiting for them to recover, I bet you can't wait for the country and the economy to go over that cliff......

[TArcher]

Hmmm.   Warren's talking about his AKSARBEN playmates?

 

 

 

"Ohhhhho say can you seee...."

 

Eyes Wide Shut

"8-1984 - Lawrence King [Homosexual and alleged Pedophile] throws a lavish party in Dallas, Texas, after singing the National Anthem at the Republican National GOP Convention."

http://www.google.com/#hl=en&tbo=d&sclient=psy-ab&q=Lawrence+king+singing+pedophile+franklin&oq=Lawrence+king+singing+pedophile+franklin

 

http://www.franklincase.org/index.php?option=com_content&view=article&id=11&Itemid=9

[Jane Long]

Funny how no one EVER mentions spending (entitlement) cuts, only tax increases.

[TArcher]

>>he is a dunderhead in every other department.

Oh, he and his fellow Fabian Socialist vanguard elite vampira are far from “dunderheads” in those other departments.

http://www.google.com/#hl=en&tbo=d&sclient=psy-ab&q=Warren+Buffett+%22Negative+Population+Growth%22