Asinine idea, but it will put Buffett in a tight spot. He'll have to come up with some other scheme to keep his crony capitalist "earnings" while lobbying for higher taxes. I'm sure his political allies will come up with another loophole.
When will people understand that politicians (yes, I throw the Repubs in here too) are pretty much all narcissists. Their ego overrides any sanity. Seriously...why even work in the private sector? Even better, run for office. Your net worth explodes as a Senator much much more than evil wall street bankers. Harry Reid when elected had a low 6 figure net worth...now it is 8 figures...all on a $180k year salary! It's pure magic!! You get free money from the private sector to do what you want and buy votes! It must be like being on LSD all the time! And public sector workers suck the life out of the private sector with all their lavish benefits, iron-clad pensions and unions....so taxes have to be raised and raised to pay for these thugs. But, odumbo, who never ever had a real world job, and his fake liberal cronies are the worst this Country has ever seen. The most divisive, socialist, imperialist President. All of the f*ckers should be in jail.
it's "get whitey's money" basically. Democrats have to have that high proportion of Black Votes to stay in power, and I mean they need very nearly all of it, look how close the elections are... if they can bring the non-black culture down it makes the Blacks feel like they are advancing... We could give the public sector 100% of the GNP and they would still not have enough, over 50% of it goes through their dirty little fingers already...
I agree, IF one has no moral compass, that being some bribed politico is the path to easy riches. It's also important to remember that you can never get elected to any position of importance WITHOUT having alot of dirt and skeletons in the closet. (The insiders always need to know they can "count" on your vote).
Hardly a tight spot. Buffet, after all, is a multi-billionaire: he and his children, grandchildren, great-grandchildren etc. will never again need to work as long as they live. It's everyone else who hopes they might one day achieve the same who'll get screwed.
Isn't it funny how all the mega rich dudes who worked hard, and mainly under much more free markets conditions are now trying to tell everyone they need to pay more in taxes or tax stock trades (Bill Gates), which stifles growth and innovation?!? Majority of these people had Republican/Conservative roots, and believed in the guberment getting out of the way and lower taxes to prosperity. Then they make all this money, and want everyone else to pay more! I think it's to keep the masses off their asses. They start sounding like liberal socialists, the media and OWS will leave them alone. My theory
I couldn't agree more. They bite that hand that fed them (past tense). At the same time, it appeals to a populist sentiment and takes the spotlight off of the manner in which they were able to accumulate the wealth. At the end of the day though, it's all about keeping others from achieving a similar level of wealth. It's an exclusive club of hyper-competitive individuals who want to protect their legacy/dynasty and stay at the top of the list.
Nothing wrong with this. very logical tax if you want to make capital gains more expensive then income from labor. This is one way to do it.
you do realize that the republican way is much worse than the democrat way. At least the democrats try to close the deficit by taxing more, the republican prints money.