Trickle Down Part 2 “Taxes and the Wealthy”

Warren Buffet, the second richest man in the world is concerned about how small his taxes are, check it out!

Flow with me on this, what are you thinking…

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3 comments

  1. DR · April 20, 2009

    Very nice – but what does Warren Buffet wanting to pay more taxes have to do with trickle down economics? If you want to talk about government enforced confiscation and redistribution of wealth than do so – name your figures – Who should pay – how much do you want – what is fair to you? Al Sharpton and Jesse Jackson shake down corporations and individuals all the time and I’m sure they name their price – come on – stop dancing around the issue – propose your solution – tell us how many people, at what income level, at what tax rate and how much you will bring in by it. Then tell us how it will pay for better education, more, better, cheaper health care . . . etc…etc… I’m all ears. I’ve lived long enough to see what happens when government gets involved in anything. You want better education??? Support vouchers – it wouldn’t need any taxes to be raised to produce better schools through competition for the money already out there for education. You want better, more affordable health care??? #1Tort reform (frivolous lawsuits drive up health care costs – I know of an Ob-Gyn practice in NJ that pays over 1 million dollars a year in insurance against lawsuits – who do you think pays for that ?)… #2 Access to insurance companies nation wide… free-market competition. No taxes would have to be raised and prices would be cut close to half.
    How’s that – or would you still rather get Big Brother involved even further – like when President Johnson started his “Great Society” program… He threw so much of my daddy’s hard earned money at poverty it should have wiped out the very word – “poor” from the human language – but it didn’t , because as Jesus said – “The poor you will have with you always”. What Jesus neglected to add was that governments would be the main purveyors of keeping people that way… ask the folks in Haiti, Uganda, Russia, Albania and any of the communist satellite states. Raising taxes does not equal elimination of the poor, it simply gets more people from the middle class to experience the misery of having less money. At one point in our history the wealthy paid a top tax rate of 91% . . . and guess what – there were just as many poor then as now.
    So – go ahead – trickle up that misery. OH I’m sorry – Obama has already assured that will be a reality – you kids are gonna get stuck with the biggest debt any country has ever had to pay back – good luck – hope you get the chance to pay taxes at 91%…
    “It’s patriotic you know” Biden… “Everybody has to have some skin in the game” Obama…
    Love ya :-]
    D

  2. freestyle · April 22, 2009

    Not quite sure that is related to much I said… Nor related to what Warren Buffet said. It seems as though you want to ignore Mr. Buffet’s point. There is an injustice in burdening low and middle class tax payers with a higher percentage than those who are “super rich” to use the classification Warren Buffet used to describe himself and his peers. Middle and lower class families are not going to pay more they will pay less or stay the same. It’s the state taxes and local taxes that are rising. Bush spends money and doesn’t tax the rich and nobody has a problem, but Obama spends money (on more important issues overall in my opinion) and plans to pay for much of that through raising the taxes on the filthy rich who are paying less of a percentage than those who work for them. I am missing the problem. I have disagreements with some of Obama’s policies, and have been quick to critique him, I even wrote a blog post a few months ago on the subject of critiquing him. However, I really can not fathom any real explanation for the disgust and hostility towards him from so many people who benefit in tax cuts from his plan, especially in these hard times. It is 95% of all Americans who receive this tax cut.
    Oh and I would re-read the passage where Jesus says “the poor you will always have with you”. That is often taken out of context, and the passage is definitely not trying to say that we can’t do anything to alleviate those who are in poverty.
    While I have taken Economics classes back in college (years ago that is) I do not think it would be helpful for me, who is not in discussion with all the economists at hand to suggest specific rates or numbers, that exercise of brain power would be futile and worthless. More important, is that we are working towards principles that are just and equitable. Their are probably several different solutions that I would be ok with, not just one, so long as they seemed equitable and fair, not favoring the rich. In fact I think I would always error in favor of the poor if I were to show partiality at all. But justice and equality need to be at the heart of the discussion, and that is what Warren Buffet was trying to address.

  3. Trinidad. Adventist.Gay?! · June 18, 2009

    I just think that it would do you well to think outside the box for one day maybe.
    The government is not the solution to man’s problems. It creates no wealth–it only hinders it’s production.

    The real question is: why should there be corporate and income taxes at all? If you can wrap your head around that new kind of thinking you might see things you’ve never even dreamed of before.

    Obama might be a nice guy; but just because something is “desirable” doesn’t man the government has a right to provide it.
    On a basic level taxes can be said to be immoral because it is a confiscation of the fruits of the labours of others. People who understand this would tax with caution not abandon.

    I think you should take another shot at economic theory once more and not leave it to people who claim to be “experts”. Read the gamut on the issue. Just don’t forget to read stuff by people like Thomas Sowell and Milton Friedman while you’re at it.

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