Posted on 12/29/2012 10:45:07 AM PST by Olog-hai
Warren Buffett says hes optimistic the nations debt problems will be solved, despite the political fighting thats threatening to put the country over the fiscal cliff.
The United States is richer than its ever been. We have $50,000 or so of GDP per person. But weve overpromised and weve also under taxed to some extent, so we find ourselves with this great fiscal imbalance. But it was man made. Were a rich country. It can be solved.
Well be able to overcome this problem. America has faced a lot tougher problems than this one. Well get it solved.
(Excerpt) Read more at newsmax.com ...
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.
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.
Well, if there’s any other benchmark besides the Consumer Price Index, I don’t mind using it.
thanks (and I did tell the mean old putz)
He may be a financial guru, but he is a dunderhead in every other department.
http://www.franklincase.org/index.php?option=com_content&view=article&id=11&Itemid=9
Funny how no one EVER mentions spending (entitlement) cuts, only tax increases.
>>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
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