Warren Buffett Rocks

[IrishBloodEngHeart]

If we had more business people like Warren Buffett, the US would be in a much better economic place.



Warren Buffett Urges Higher Corporate Taxes

By Jonathan Stempel

NEW YORK (Reuters) - Warren Buffett (news - web sites), the world's second-richest person, wants to pay more taxes. And he wants the rest of corporate America to pay more too.In his annual letter to shareholders of his Berkshire Hathaway Inc. holding company, released on Saturday, the 73-year-old Buffett said Berkshire's taxes rose more than eleven-fold to $3.3 billion from 1995 to 2003, as profits rose ten-fold to $8.15 billion. During the same period, federal income taxes paid by all U.S. companies fell by 16 percent, to $132 billion.

"We hope our taxes continue to rise in the future -- it will mean we are prospering -- but we also hope that the rest of corporate America antes up along with us," said Buffett, who has previously criticized Bush administration tax policy.

Tax cuts won by President Bush (news - web sites), amounting to $1.7 trillion over 10 years, have helped push the federal budget deficit to record levels, as have a weak economy and higher spending for defense and domestic security. "Tax breaks for corporations -- and their investors, particularly large ones -- were a major part of the administration's 2002 and 2003 initiatives," Buffett said. "If class warfare is being waged in America, my class is clearly winning."


Full story link:

http://story.news.yahoo.com/news?tmpl=story&cid=564&ncid=564&e=5&u=/nm/20040306/ts_nm/financial_buffett_taxes_dc

[kiahzero]

1. But... but...

didn't he help Arnold get into office? That makes him a (lightning crashes)... REPUBLICAN!

[IrishBloodEngHeart]

2. He's actually a democrat

and Arnold dismissed him a few days after naming him an economic advisor after he pointed out the unfairness in CA property taxes (he pays less in property taxes for his $5M beach estate in CA than his $300K house in Omaha). CA property taxes are totally archaic and based on when you bought your property.

[kiahzero]

3. Good point

I withdraw my sarcastic point. =D

Perhaps this should be a lesson not to be a smartass when I'm tired, eh?

[delhurgo]

5. Arnold didn't dismiss Buffett.

They just sort of joked about their differences on the property tax; Arnold joked that he was gonna make Buffett do 500 push-ups. After that tho, he continued as one of Arnold's most important campaign advisors - and continues to advise him today. For instance, Buffett played an important role recently in pushing thru props 57 and 58.

[MrPrax]

4. Just a reminder ...

Another great editorial by Buffett last year...

Dividend Voodoo

By Warren Buffett


The annual Forbes 400 lists prove that -- with occasional blips -- the rich do indeed get richer. Nonetheless, the Senate voted last week to supply major aid to the rich in their pursuit of even greater wealth.

The Senate decided that the dividends an individual receives should be 50 percent free of tax in 2003, 100 percent tax-free in 2004 through 2006 and then again fully taxable in 2007. The mental flexibility the Senate demonstrated in crafting these zigzags is breathtaking. What it has put in motion, though, is clear: If enacted, these changes would further tilt the tax scales toward the rich.

(snip)

When I was young, President Kennedy asked Americans to "pay any price, bear any burden" for our country. Against that challenge, the 3 percent overall federal tax rate I would pay -- if a Berkshire dividend were to be tax-free -- seems a bit light.

Administration officials say that the $310 million suddenly added to my wallet would stimulate the economy because I would invest it and thereby create jobs. But they conveniently forget that if Berkshire kept the money, it would invest that same amount, creating jobs as well.

http://www.washingtonpost.com/ac2/wp-dyn?pagename=article&node=&contentId=A13113-2003May19¬Found=true

Great editorial...too bad it didn't have any impact when the bill was passed...

[Zinfandel]

6. Fuck Warren Buffett, a total asshole, Buffett endorsed, supported

and donated to a REPUBLICAN for Governor. That same REPUBLICAN Governor is going to do all that's in his power, to influence, convince, campaign and support all that is possible to help Bush win the state of California for the REPUBLICANS this November.

The piece of shit Buffett is just like so many useless moderates on DU who go back and forth Democrat and Republican depending on the personality. What bullshit, makes do fucking sick...these moderates have no sense what so ever of ideology, only what they watch, are told and who the person visually is, who they think is a better candidate. Flash, glitter and boom they think they are so or concerned and really doing the "sensible" thing. They are not devoted with all their heart to an ideology, they are so childishly stupid manipulated fucks. Who think its fun time with politics right now and will turn their head for some other fluff in a second when bored.

Most moderates have even voted for a Republican before or wanted to but never took the time to vote...you know who I'm talking about and may even vote republican again..."if it's the right person" what human shit is tat all about?

That's why I hate moderates!

No loyalty to ideology...without ideology how does one live ones life? On the fence, which ever way the wind blows, "undecided" "not too much change whoa", not sure, fucking moderately!!!

[jab105]

7. Bush's administration has a very set ideology...

they eat sleep and breathe it...I appreciate those that can change with the situation...Buffet has appeared to be for years against what Bush has been doing as president...I welcome and embrace those, as I was one myself not to long ago...