Warren Buffet and Bill Gates discuss why a flat tax would be a mistake, how taxes on the wealthiest Americans are too low, and how the tax system has been tipped totally in favor of the wealthy. From a 2005 program on Nebraska public television.
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LOL – Mr. Buffet is one slippery fellow! He’s comparing apples to oranges! Listen carefully and you will find that the flat tax he is describing is not actually a flat tax at all. The big clue is that he takes your payroll taxes off the table! Then he does his % calculation on your income tax alone! Then he adds the payroll taxes back on top and says your worse off with a flat tax! I’ll bet this guy could sell me a car without a motor and convince me I got a great deal? on the gas mileage
This country is wealthy enough to afford it and if you tax the poorest more, then more will require? more assistance when health problems arise and can’t feed their family properly. Tax over 1mil income and capital gains more.
Tax brackets, we have tax brackets. We all pay the same taxes up to a certain amount of money, then as the amounts get larger, we pay more on that money. The poor are struggling and rather than take what? we can from them, making the income tax equal, why not give them tax breaks? It’s a lot better than giving them more entitlement programs.
It’s thoroughly depressing to see these super-rich folk pleading for the government to come and seize their money. If they want to spend it selflessly then why don’t they use their own initiative!
I’d wager that the success of private philanthropy is far greater than anything that a wasteful, incompetent? government could do.
They should take lessons from the great philanthropists of history and use their own creativity, rather than beg for state control like some brain-dead stooges.
the only problem of taxing the rich more is that all they’ll do is give them selves pay rises and bonuses to offset the extra tax they pay. the poor will still be in the same position? of not being able to afford housing, heating, food and the basics in life while the diff in low paid and high paid jobs just gets ever bigger £ for £. . the rich are too greedy thats the problem. . only way around it is to put a max income lvl
WHAT DEGENERATE PIECES OF SHIT THESE TWO? FUCKIN COMMUNISTS ARE !!!!!!!!!
@severrnijKGU warren? buffet is full of it, he choose to pay his tax in form of capital gains instead of income tax, he still pays around 35 percent
Right then. Raise taxes to 80% on anyone earning anything and give? it to the unemployed.
@voltairinedecleyre66 i wouldnt mind paying lots of taxes, if only i could see proof that every single other of my fellow americans was paying the same exact high tax as myself. no higher, no lower. i want it transparent. i like our powerful military, i also like to see good roads. taxes are the price you pay for living in a civilized state.? you can tell cities that have extremely low taxes and strengths of government simply by the way they smell when you step off the plane.
@severrnijKGU? Then, it’s settled. No taxes.
@voltairinedecleyre66 voltairine, that’s a ‘head’ tax. head taxes are very dangerous, they start riots easily and usually the politician who puts it in place loses their position because of it. in 1989 it was called the “poll tax” on property in the UK. that is the reason that you don’t? see margaret thatcher any more. but i agree with your point that we should stop taxing the rich.
@jrroelle its really important that you read the post that came before this, because? without it, only jrroelle and i understand its deeper meaning.
of course this is a man who cannot be taxed to death, who will never pay -back taxes-. id listen to this? shit if he were the leader of the upper middle class who has faced bankruptcy and foreclosure. if he was a machinist who, wanting to put his daughter through college, took twice the hours and was surprised that he was taxed to the point of having that action become nill – and STILL says that he’s not being taxed too high. then id listen. they like their loop holes.
@ttiiyy ya but thats totally diff than his general idea
, lol
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@ttiiyy Disband the fed – They run our leaders like puppets on a string. They play nation against nation and threatend to hit the kill switch on any country that does not comply. You might want to read about the types of strategies they use to do so. They have been behind every major war of? this and the last century. Look up the PD strategy they use to ply us against each other.Look up Prisoner’s Delima on wikipedia. Prisonplanet & infowars for more info
@ttiiyy Now,? I am a libertarian, as you can probably tell from the apolitical tactics I have outlined thus far, but there are certainly a few reformist ones I would consider productive. I am sure you are familiar with the Federal Reserve and efforts of politicians like Kucinich, Paul, and Sanders to abolish it. This central bank contributes greatly to the accumulation of capital in the hands of the elite. It’s a valve that needs to be turned off.
Google “Benjamin Tucker four monopolies”
@ttiiyy Even without secession, a well-organized workforce can occupy various properties and refuse to recognize the property rights. Of course, the capitalists and the government are not going to like this and will certainly use force? to change that. If the workers can remain non-violent for long enough, more and more people will sympathize. These things might all be easier in the coming years when the government can no longer afford defense and security for their protected interests.
@ttiiyy That’s a good question. There are many things that can be done, some less savory than others. For instance, there is violent insurrection, to highlight one extreme, but it can be very unpredicable and often lead to disaster. Another might be secession. If successful, the secessionists could fortify their control over their resources and simply refuse to recognize the property claims? of the usurers. This course is highly unpopular, especially for the Left, for some odd reason.
@ttiiyy which one of your favorite republican candidates refuses to cash their government paycheck? since they are against government spending….
or are you a? massive hypocrite?
@lamrof I will have a much easier time supporting? high taxes if our government can spend the money more responsibly. I read in newspapers that our government sends Israel and Palestine trillions of dollars every year. So does that our government can spend the money in any way that it wants? My point is even if we tax the rich to the full extent, if our gov’t does not behave itself, the gov’t will never have enough money to spend. That’s just the way it is.
@lamrof A lot of Americans are all upset about what’s going in the country. I wish I could agree with you 100%, but I can’t. First of all, how do we define unfair benefits that the rich enjoy? Look at the CEO of GE. GE has not been paying federal income taxes, and Obama is still in bed with them. Secondly, to be fair, rich Americans do pay taxes. It’s not as if the rich were not paying any taxes at all. I read in USA today that they contribute? to at least 40% of the nation’s GPA.
@voltairinedecleyre66 I agree with you. However, can you be more specific about how working people can take back? the ill-gotten gain without the aid of the government?
I will have an easier time believing Buffet if he’s willing to write fat checks to the government? (since he believes that he’s not being taxed enough). Will he ever do that? Of course not.
It doesn’t make sense to charge people different rates for the same services. So let’s use not a progressive tax, not a flat tax, but an equal direct tax. No rates, everyone pays the exact same amount.
Now, I know what you are thinking. A tax scheme like that is regressive and favors the rich, but this is where the working? people come in. Organize and take back the ill-gotten gain without the aid of the government. Stop taxing the rich and start reclaiming what is yours.
The truth is that until we have some major stimulus to the economy..like the internet in the 90s…major world wars (horrible option)..or some strange fad craze that makes people want to spend money then we? are going to need more Gov’t spending. It is not this great evil everyone makes it out to be.