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Warren Buffett is a FRAUD

Started by RussCarroll, 08/15/2011 11:59AM
Posted 08/15/2011 11:59AM | Edited 08/15/2011 12:49PM Opening Post

His income appears to be $35'ish million and he says he doesn't pay enough taxes because capital gains are only taxed at 15%. He has a $50+ billion net worth and he holds incredible unrealized profits in long-term holdings that are left untouched.

HEY, Warren, why don't we just institute a property tax on all of your wealth, say 5%, over 1Billion???

He would cry like a little girl if that were proposed.

Posted 08/21/2011 12:28PM #1
In what way is he a fraud?
He is simply suggesting that the ultra rich not pay taxes at a lower rate than the middle class. ' sounds reasonable to me.
Posted 08/21/2011 09:07PM #2
People like Warren Buffett have been gutting this country like a fish, scraping out all the middle class jobs, and feeding them to Indian and Chinese seagulls.

Talk about tax policy, unions, moral issues, etc., is all a distraction. The real issue is globalization. The labor market now consists of almost EVERYONE on the planet. Twenty or thirty years ago, that was not the case. People could choose to send manufacturing overseas, but the service sector and middle management was safe here in the U.S. Now, the internet and telecommunications has opened everything up to global competition. There are no barriers to market entry. As American consumers lose their jobs and face increasing economic uncertainty, they can no longer spend enough to keep people all around the world fully employed. So, the developing world is also swept up in the boom-bust business cycle.

We asked for laissez-faire, open market, economics and now we are getting bitch-slapped by the invisible hand. This is why economics is called the dismal science. Our leaders are clueless about how to handle the issue. (I don't know how to handle it either, but you'd think someone in leadership would address the problem.)

I have several telescopes, but none are semi-APO, APO, or in anyway valuable.