Economy

[Cerek]

Originally Posted by Timber Loftis People like Warren Buffet, I listen to. I hope Congress will, too. It's funny, even when the super rich pull back the curtain and make fun of our ridiculous system, some idiots still crawl out of the woodwork to defend them. What bone do you have in the fight, John D.? Why is it so gawddammed important to you to make sure billionaires pay lower taxes? Do you have a reason for being a lackey lickspittle, or are you just insisting on being a contrarian?

Nothing contrarian about John D.'s post at all. He is just saying if Warren Buffet is serious about paying more taxes, he could easily have done that even with the current system. And John never said anything about making sure billionaires pay lower taxes. Guess you overlooked that while thumbing through your thesaurus for the lackey lickspittle label.

It IS admirable that Buffet says he and the others in his league should be paying more taxes. It will be even MORE admirable if they actually step up and do something about it.

[John D Harris]

Originally Posted by Timber Loftis People like Warren Buffet, I listen to. I hope Congress will, too. It's funny, even when the super rich pull back the curtain and make fun of our ridiculous system, some idiots still crawl out of the woodwork to defend them. What bone do you have in the fight, John D.? Why is it so gawddammed important to you to make sure billionaires pay lower taxes? Do you have a reason for being a lackey lickspittle, or are you just insisting on being a contrarian?

OOOOooo him can use a thesore-ass, or prehaps hims got one.

Ok brainiac exacttly which word or words in my post equates to Billionaires should pay less taxes? Infact I wrote if Buffet(the billionaire in question) wanted to pay more taxes he could. How does if he wants to pay more taxes equate that he should pay less? How does that logic work? Was that the logic you were taught in college? A example of your higher education?

What I got against Warren Buffet is the hypocrisy and the hypocrisy of... what was that term oh yeah Lackey lickspittle who fawn and swoon over him because he had a liberal political POV. Let's look at exacttly how liberal he is. One of the hallmarks and points of pride in the liberal political POV is "we have to look out for the little man" Well Warrren Buffet bought out Fruit of the Loom for pennies on the dollar. When he did so he Bent over the "Little man" investor and the little man's 401 k's, pension plans and IRA's that were invested in Friut of the Loom. He didn't even give them a kiss, much less use vasaline. Warren Buffet is a hypocrit money grubbing sack of Horse manure. He donates a bunch of money to charities, then takes the tax write off, While complaining he doesn't pay enough in taxes. The he claims that there should be a death tax, but then does EVERYTHING he can to protect his Heirs inheiritance from the tax.

I doesn't surprise me that you listen to Warren Buffet, birds of a feather and all.

Now TL that is a more contrarian post on my part, but I understand with the education you apparently have how you would confuse the two.

[Timber Loftis]

I'm going to ignore the JD and Cerek chin music for the moment. Mostly because they are saying Buffet is a hypocrite for not writing a check to the government, when in fact I see him referencing a pledge regarding philanthropy, one that I see him backing up. Maybe JD has a beef about Fruit of the Loom, but as I see it the company was going to die, and he saved it and kept it American.

Regarding the Death Tax, we could discuss it separately, but my general take on it is: didn't we leave the world of the aristocracy behind when we made this Country? Do we or do we not want a nation where we value each person's individual merit and contribution? Or do we like the Paris and Perez Hiltons of the world getting a free money ride whilst they obviously are sub-human primates of the worst kind? Or another, less egregious, comparison -- could D. Trump's mini-quaffy son make it on his own merit without daddy's dollars? It's a mixed bag of issues there, including the question of what rights D. Trump or the Rockefellers have to use their 100-yr-old money to prop up current generations, who may or may not be worth what their parents and grand-parents were from an intellectual or economic perspective.

Oh, and I object to the notion that I need a thesaurus to come up with the word lickspittle, especially when you probably can't find such a word in Roget's or any other. I haven't checked, feel free to prove me "wrong," I care not enough to bother.

It's beyond obvious that I would agree with Buffet, since his ideas and mine are very similar, as demonstrated by my post a couple of weeks ago compared to his Op Ed.

I said:

Tell Congress that he would veto any bill they send him that does not: 1. Increase the debt ceiling -- out to 2013, on a lock-step 3-stage system per annum. 2. Balance the budget. 3. Have an equal amount of spending cuts and revenue increases (i.e. new taxes) Notes: At first I was thinking a 33/66 split on this one, but I really believe some of the pre-existing taxes that the rich have been able to lobby themselves out of should come back. First no-brainer is reinstate the pre-Bush tax rate for dollars made over 250/350,000 (a 2% increase). Second no-brainer is getting rid of loopholes for the rich in the tax code, such as the one I posted an article about that allows them to treat income as capital gains. I also think they should re-insert the 60's era "millionaire tax" (my term, there, but the tax kicked in at around $300K, which is roughly a millionaire or more in today's dollars). I'd suggest setting that at 40%ish on dollars made in excess of $1/1.25 M. I would suggest no change in corporate tax rates.

And he said:

The 12 should then turn to the issue of revenues. I would leave rates for 99.7 percent of taxpayers unchanged and continue the current 2-percentage-point reduction in the employee contribution to the payroll tax. This cut helps the poor and the middle class, who need every break they can get. But for those making more than $1 million — there were 236,883 such households in 2009 — I would raise rates immediately on taxable income in excess of $1 million, including, of course, dividends and capital gains. And for those who make $10 million or more — there were 8,274 in 2009 — I would suggest an additional increase in rate.

[SpiritWarrior]

You'd think pepople would celebrate when a filthy rich man starts talking about giving something back.

[Cerek]

Originally Posted by Timber Loftis I'm going to ignore the JD and Cerek chin music for the moment. Mostly because they are saying Buffet is a hypocrite for not writing a check to the government, when in fact I see him referencing a pledge regarding philanthropy, one that I see him backing up. Maybe JD has a beef about Fruit of the Loom, but as I see it the company was going to die, and he saved it and kept it American.

As usual, you lump anyone who doesn't agree with you into a single bin without actually reading what is written. That's not chin music, it's just laziness.

John D. never said anything making sure billionaires pay less taxes. Instead, he stated the exact opposite...that Buffet should put his words into action and take steps to pay more taxes. For this, you called his post contrarian.

I never called Buffet a hypocrite - go back and read my post again and you might see that this time. All I said was the same thing I just pointed out again; that you accused John D. of saying or supporting one thing when he actually said the exact opposite in his post. All I did was others have suggested Buffet's might be hypocritical for not putting his money where his mouth is.

I'll even make it easy for you and reprint the last part of my post again ---

It IS admirable that Buffet says he and the others in his league should be paying more taxes. It will be even MORE admirable if they actually step up and do something about it.

See? Nothing there saying Buffet is a hypocrite. Instead, I'm saying it is admirable he thinks our tax system should be changed so he and his buddies pay a larger share and it will be even MORE admirable if they put those words into action. I didn't call him a hypocrite for not doing it. I simply suggested his words will carry more weight if he backs them up with action.

[Cerek]

Originally Posted by SpiritWarrior You'd think pepople would celebrate when a filthy rich man starts talking about giving something back.

I am celebrating...and I'll celebrate even more when he follows through and actually starts giving the money back. I applaud his announcement and think it is a great step in the right direction, but it is just the first step and won't mean very much unless he takes the next step and the step after that.

I have no problem with Obama repealing the Bush tax cuts for the rich and I appreciate Buffet saying the same. He and his peers have the money, power and leverage to help bring about that change and I will applaud his actions even more if he does take that next step and follows through on the sentiment he expressed.

[John D Harris]

Did you read what you write TL?... What right do they have to Their 100 year old money.... Whose money? yours or theirs? they got the right to do with what ever is theirs you pinko punk. In this country a man makes his way and then gives what is his to who ever he wants to give it too, your whinning sounds like booo hooo boo hoo nobody gave TL money so nobody else deserves to get anything. Bring your damn ass down here to Alabama and try and take what is mine and you'll draw back a bloody stump if I let you draw it back at all. It will be a cold day in Hell before I let any pinko punk take what is mine to keep or give to who I want to give it too. And you call yourself a Lawyer you are a fool Private property including money is a foundation of this nation. You are just upset because you aren't rich, well cry me a river TL get off your ass and make something of yourself if you want it so bad. ... oh wait I forgot you are an employee you work for somebody else you aren't doer, you're a follower.


And Cerek never called Buffet a hypocrit I did, and I'll damn sure do it again.

Oh by the way FOL makes their shirts and clothing in cental America, Ireland, Africa, and damn near everywhere else BUT the USA... so don't give me this at least it's still american crap...

[SpiritWarrior]

Originally Posted by Cerek I am celebrating...and I'll celebrate even more when he follows through and actually starts giving the money back. I applaud his announcement and think it is a great step in the right direction, but it is just the first step and won't mean very much unless he takes the next step and the step after that. I have no problem with Obama repealing the Bush tax cuts for the rich and I appreciate Buffet saying the same. He and his peers have the money, power and leverage to help bring about that change and I will applaud his actions even more if he does take that next step and follows through on the sentiment he expressed.

That should have been your original first response to this, is all. That you are celebrating, may have some healthy reservations, but overall this is a nice thing to hear. Nevermind the JD vortex. Most of us can't understand it, not to mention defend it. To think that such a savvy businessman would without prompting, come forward and show his hand, only to flee when tax time comes 'round is just silly. He's the one who suggested he do it. Asking him to pay money right now is silly too (I know you didn't say it).

[Memnoch]

Let's try and leave off arguing about TL and John D's personal characteristics if we can. The topic is interesting enough to discuss without it being derailed.

[SpiritWarrior]

Originally Posted by John D Harris OOOOooo him can use a thesore-ass, or prehaps hims got one. Ok brainiac exacttly which word or words in my post equates to Billionaires should pay less taxes?

Although you have to admit lines like this are fascinating. I tend to forget all about the economy and just get lost in the text.