Warren Buffett: Tax me and the rest of the wealthy more

Agreed, let's move it to FHOP now.

 

i think we need a combination of cuts and tax increases. every american and alien living here needs to tighten their belts.

 

I agree. When even the rich people say they're not paying enough taxes, we're probably well past the point where it's become a problem. It's not cynical to say that the Golden Rule has been twisted to mean that 'those with the gold make the rules', because it's true. There's nobody looking out for the overall welfare of society - everybody's either too busy working to make ends meet, or too busy lobbying to make the system better for themselves. Governments should be working for the benefit of all, but they've been paralysed by opposing factions, and taken over by corporate interests. Service cuts inevitably affect the poor most directly, but end up making all of society poorer as well. Ironically, the rich may could well be better off if the average person had more money to spend.

The combination of service cuts and tax reductions has created an ugly downward spiral. The mantra of 'socialise losses, privatise profits' is sucking the life out of the economy.

 

Honestly... the real problem with our tax law is that its so complicated no one can understand it. There are so many loopholes, specialized breaks, and other garbage in there that you can't fit it all in one book (or even a dozen books!). If we really want to fix our tax issue, we need to throw the old system out the window and start fresh. Create some rules/laws from the get go that will prevent it from getting as complicated as it is now. Write it so that normal people can understand it - and then everyone will be able to sit down with a little elementary-school math and figure out exactly how fair it is.

But if our lovely politicians did that, they'd all be out of a job once everyone figured out how much they're all really screwing us over.

 

These folks can't balance the budget. I'd just love to see them rewrite the taxs laws .:lol:

 

My great uncle wrote the tax code that was in place from 1954 (?) to 1986. He then spent the rest of his career consulting on tax issues for corps and the wealthy. We ought to avoid that this time around.

 

A lot of taxes could be more transparent. I would really like to see prices including VAT/tax so you see the price that you and everyone is actually going to pay on products!
If Germany and many other countries can show actual prices on products, then why can't US? Want to help the people who aren't rich? Start by simplifying!

 

One problem with only showing the final price is that then people aren't as aware of how much of the price is taxes.

My ideal system would have the total price shown European style with a clearly visible number right below that saying how much of the price was taxes.

 

He has literally been saying this for YEARS and it gets new press every time.

 

Only the wealthy that want to get taxed more should.

 

^ I agree, and I think I'll wait for WB to give some of his billions, say an extra 2-5% before I believe he is sincere.

 

Is 85% good enough for you?

 

Good idea. Also, people who say there should be less federal spending should have their way. Good luck with that!

 

Just like the income tax, the sales tax should be more for the wealthy as well.

 

well done with civility people, keep it up!

 

Warren Buffett owns a LOT of companies, I would think that if he thought raising the taxes on him and his companies hurt him, he would say so. I also believe that the circles that he runs around with, actually talk to each other about financial situations and discuss taxes. Now, knowing that, knowing that I'll never ever be a part of that group, knowing that people that demand no taxes on the rich will never be in that group, I'll believe him and people in his group, before I believe the no taxes for the rich group.

 

You're forgetting, one day they'll win the lottery so they're being pro-active by not wanting taxes on the rich to pay for the food stamps they're currently getting.