Blackvampyr,

How is that different than the drunk we have now?

Wow, this story is only 3 weeks old, and a repeat.

horrors, the liberal media at it again, or wait, um, no...

it's the Post.

my bad.

Amen

As much as I like that catchy "Margaritaville" song, I can't see how this guy is qualified to comment on the economy.

Could someone please direct me to my lost shaker of salt?

Let's face it...it is stupid. 401k stockholders of MSFT will feel no benefit. The principal beneficiaries are the likes of Gates, Ballmer, their secretaries, etc.

Shouldn't this be obvious?

TheFlyingDutchman says that this article is a repeat.

This guy is just bitter because he stepped on a pop-top..

If you oppose the tax cut you must hate freedom. Why do you all hate America so much? Traitors.

They didn't have problems like this in Saddam's Iraq!

Oh, wait, they had other problems...

All for a tax cut... when will one help me, a non-millionare?

Warren Buffet is a god among mortals. Humble, hard working, brilliant at investing...it is said that 2 days at the Berkshire/Hathaway annual shareholder's meeting is worth more than an entire MBA.

The fact that the richest self-made made in america (Gates came from money) is condemning the Bush administration for its tax cuts should be very telling.

If the receptionist pays 30% of her income to taxes then she makes between $63,550 and $132,600 per year. That's some rate for a receptionist!

Woohoo...50% off my dividend tax. That will amount to: A couple of bucks for me, whoop de doo. The fact that I own a few shares this year (none prior years) and most of them pay a dividend means I'll actually be paying more tax than I used to, even at 50% off. However, I would happily pay the full bit if it meant getting the economy back on track (and thus the actual stock prices to settle and start going back up with a little regularity).

Jimtess
Shouldn't this be obvious?

Nope... It should have a "Dumbass" tag.

Genius,

explain.

The tax cut itself should have a "dumbass" tag.

I predict that most of the tax break will go to blacks and mexicans. They're lazy and like to let their money work for them.

I never understood the psyche of people who want to pay more taxes.

It is also ironic that Warren Buffet can say something like this and people back him up, meanwhile you're paying a higher tax rate than him. The joys of business and real estate tax loopholes...

"If the receptionist pays 30% of her income to taxes then she makes between $63,550 and $132,600 per year. That's some rate for a receptionist!"


Ummmm...no no no no no. Dumbass.

It includes the payroll tax. I pay about 25% of my income to taxes and I make in the lowly 30s

Of course the tax cut is stupid. If you were in more debt than you have been in your entire life, and had to spend more on things like a security system, would you voluteer for a pay cut? Talk about fuzzy math.

We tried this in the 80's. It didn't work then, it won't work now. Trickle down economics is a joke. People with money want to keep it. Pretty obvious if you ask me. A tax cut might be good for the middle class and the working poor, but for the rich? gimmie a friggin break.

Economists realize the tax cut is Economically Stupid.
Politicians realize the tax cut Politically Smart.

Economists realize Politicians don't understand economics (with a few exceptions).
Voters don't realize Politicians don't understand economics.

Price of cheese continues to rise.

Female porn stars continue to make more money than male porn stars and more than women in any other industry.

Female porn stars use their economic power to energize the female voting bloc.

Women vote in record numbers.

Chasey Lane is president in '08. Blowjobs begin to speed the legislative process along instead of triggering impeachment proceedings.

Price of cheese goes down.

Somewhere along the line Carrot Top is found having choked to death on his own semen.

I say bring on the Tax Cut!!

/two hours of sleep.

this douchebags a farking BILLIONAIRE

Hey Beltass - this article is from today. You are getting confused with a different article, which wasn't written by Buffet but was about Buffet's opinion.

Go back to bed.

Yeah, if you think a rich old fart like that pays taxes out the ass like you do you're dreaming. Tax shelters? Loopholes? Offshore corporations? Corporate welfare anyone?

He's a bitter old fart who's got his and doesn't want you to have any.

"The whole reason for that particular cut is that it's not fair the government taxes the same profit twice. He doesn't mention that."


You are dumb.

How many time is your own income taxed. Once federal, once state, once payroll. Then once you get it, you pay gasoline tax, sales tax, etc.

My income is taxed maybe 5-6 times. Why can't dividends be taxed twice?

I love it how Warren Buffett can talk about "the rich" like it's some sort of vague organization of people he's never met. Warren, some of the people you're cluckig your tongue at work for YOU!

It's like he's trying to earn the respect of poor people or something. But his logic seems like rich-white-man-guilt to me.

Owning 31 percent of Berkshire, I would receive $310 million in additional income, owe not another dime in federal tax, and see my tax rate plunge to 3 percent.

And our receptionist? She'd still be paying about 30 percent, which means she would be contributing about 10 times the proportion of her income that I would to such government pursuits as fighting terrorism, waging wars and supporting the elderly. Let me repeat the point: Her overall federal tax rate would be 10 times what my rate would be.

He doesn't list what his secretary makes, but lets say she makes a healthy wage (working for a gazillionaire and all) of $250,000 a year.

Warren is painting this as though she is contributing far more to the government's wealth redistribution plan (i.e. TAXES). However, do the math in the above scenario:

30% of $250,000 == $75,000 contributed by secretary
3% of $310,000,000 == $9,300,000 contributed by Buffet

Yes, Warren, she may be paying 10X the *proportion* of her income as you, but you are paying 124X more than her in actual dollars.

As someone that makes way less than both of you, I want the government to lower taxes for EVERYBODY, not just the poor or the middle class or the rich, EVERYBODY.

Now consider that the above scenario would only work in 2004-2006. Those are the only years dividends are fully tax free. In 2003, they are only 50% tax free. So Warren would have had to pay 50% of normal taxes on his $310 million in dividen income if that deal was done this year! And starting again in 2007, dividends are fully taxable yet again.

To me it sounds like a temporary break in taxing of dividends to help the economy a bit. To Warren, it's a chance to win over some appeal from us poor dregs. He also conveniently leaves out the parts of the tax plan that gives regular folks a bit of a break as well. Sure, having to pay a few thousand less a year may not seem like much to him, but it does to me.

Consider the alternative to this tax plan -- the government keeps getting more of our money, and wasting it on federal programs that do more harm than good. The Democrats don't like the tax cuts, because they say we're going to go into a bigger deficit. They'd raise taxes if they could. Here's a better solution -- DROP YOUR PORK BARREL PROGRAMS! Cut funding on federal programs that could be done more efficiently within local communities and by private companies.

Thanks, Warren, but shut up so I can keep more of the money I earn.

It should be pretty obvious that this tax cut is a case of complete stupidity. Anyone who says otherwise, either doesn't understand it or just goes along with anything the Bush administration puts out.

The whole reason for that particular cut is that it's not fair the government taxes the same profit twice.

Not sure where this 'taxing the money twice' meme came from, but it's a false line of reasoning. You don't tax money, you tax people. If my income comes from a pile of stocks that pay out dividends (if only..) then that's taxable income like anything else.

"I never understood the psyche of people who want to pay more taxes."

Seriously, not being flip, but I can't understand statements like this. It's completely illogical. To some people when you ask them how much taxes we should pay, the answer is always 'less'. I mean, 'less' is good if we can afford it, if we're out of debt and Social Security, Medicare and the public schools are in great shape, then sure. Let's cut taxes.

If not? Why is 'less' a reasonable answer when we're currently hemmorhaging money every year?

Uh, if you don't think Berkshire-Hathaway can afford $1B dividend, try looking at their stock price (ticker symbol brk.a although there's a separate class brk.b as well, slightly more affordable).

And yes, I know he admits this, but I'm talking about at tehe start

@Tycowyd
D'oh. You're right, I am a dumbass.

Yeah... I read through it after commenting. This one is him explaining his views from the earlier interview.

Class act. The guy should be listened to. The fact that he can reap hundreds of millions in profits from this tax cut and he still tells this country that it is wrong speaks volumes.

It's so painfully obvious that Bush doesn't care for the average american and just wants to increase his campaign contributions from the rich and fool the average american this will give them money so they vote for him.

It should have a "Dumbass" tag

Till you have done anything in your life as well as Buffet has done in investing you should shut your mouth and listen and learn. You call yourself Genius, but you fail to offer a reason why Buffet is wrong, maybe you should change your name to dumbass.

Of course Warren Buffet doesn't mind paying more taxes, he's not living paycheck to paycheck like the most of us.

WilliamWallace:

He doesn't list what his secretary makes, but lets say she makes a healthy wage (working for a gazillionaire and all) of $250,000 a year.

--------------------
I really doubt that. Buffett himself only makes 100,000 a year. I doubt his secretary makes more than twice his own wage.

He doesn't try to rape his company by taking huge wages while his employees make nothing. He is an honest man.

"Of course Warren Buffet doesn't mind paying more taxes, he's not living paycheck to paycheck like the most of us."

I'm sure the dividend tax cut will help you immensely then.

/sarcasm

There's no such thing as a "stupid tax cut."

CUT CUT CUT CUT CUT!

Please
Genius,
explain.

For starters... (Yes, it's a canned response)

Creating jobs and fostering economic growth needs to be our number one national priority. President Bush recognizes this and has delivered a jobs and growth plan that will create 1.4 million new jobs in the next two years. Some in Congress want to reduce or cut President Bush's plan and in so doing, reduce the number of jobs created. That's hundreds of thousands of jobs fewer than the 1 million jobs the stimulus package passed by the House of Representatives would create.

12 Senate Democrats understood the important impact tax relief has on growing our economy when President Bush's tax relief was passed into law. Why are Senate Democrats ignoring their previous support for tax relief and its economic impact? They should vote with President Bush and give the economy the boost it needs. It's the right thing to do to grow the economy.

"Creating jobs and fostering economic growth needs to be our number one national priority. President Bush recognizes this and has delivered a jobs and growth plan that will create 1.4 million new jobs in the next two years. Some in Congress want to reduce or cut President Bush's plan and in so doing, reduce the number of jobs created. That's hundreds of thousands of jobs fewer than the 1 million jobs the stimulus package passed by the House of Representatives would create"

I thought you were retiring, Ari.

Zaphod42 - Trickle down economics is a joke. People with money want to keep it.

You obviously don't understand the basics of the concept. Rich people never keep their money, they invest their money. Do you think they have some giant vault where they have billions of dollars in cash just sitting around? No, the rich invest their money, which in turn creates funding for other things (new businesses, etc.) which theoretically stimulates the economy.

I'm not saying this as a proponent of trickle-down economics, but you need to at least understand the basics of finance before you should bother arguing about this.

Damn.."can't afford", not "can"...ugh.