Buffet doesn't see a credit crunch

Quote from Misthos:

Right ON!

Damn that average irresponsible Joe.

In the last six years, he saw his share of the nation's wealth rise the most. His salary increased the most, meanwhile banks made no $$$ and the poor CEOs of America took huge paycuts due to global wage arbitrage.

I hear that American CEOs are losing sleep because they fear their jobs may be outsourced to India and China.

In the last 6 years, the middle class got a huge windfall via Bush's tax cuts, meanwhile the Hedge Fund managers pay more and more in payroll taxes - medicare, FICA, unemployment, etc...

And what about those wealthy kids being shipped abroad to fight wars in the dessert? You know, the CEO of Exxon isn't going to see that money - it's the guys pumping gas that will make out like bandits.

It so unfair. Damn the bottom 90% of Americans.... thieves, the whole lot of them.
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Thats the most brilliant post I've seen on ET in a while. You should post it in its own thread.
 
income inequality is something that is happening world wide. whats that has to do with bashing rich people on TV so you can get love from the crowd
 
Quote from Daal:

funny that there is no mention to the poetic justice in seeing the average irresponsible joe file for bankruptcy after he defaults on his fifth credit card. no justice there, that would be 'a tragedy created by big corporations' that would get him the applause he so badly wants
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What you refer to is irresponsibility at the individual level. A fine observation on your part. Buffet merely referred to irresponsibility at the institutional level. True, individuals should know better. But institutions should DAMN WELL know better. Why is it that you can make the one observation but he can't make the other? (Are you trying to attract the kind of attention that you are accusing him of?)
 
well, heres the difference. I'm not willing to take your freedoms, go along with society's hate based on bank account size or confiscate your property to get the attention.
 
Quote from Bogan7:

he misssed the tech boom as well the isnt infallible
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he didn't miss anything. when the dust settled from the 'tech boom' he was behind only gates as the richest man.
 
Quote from Daal:

well, heres the difference. I'm not willing to take your freedoms, go along with society's hate based on bank account size or confiscate your property to get the attention.
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I have no idea where this is coming from. Did it perhaps occur to you, given your earlier post about individual irresponsibility, that you exhibit a similar "hate" based on (a different) account size as well? Perhaps it's only "hate" when someone else is doing it, eh?
 
Quote from Dr.Greenback:

Granted Shoesshineboy, I didn't mean to imply Warren Buffet was lucky or unscrupulous. Just trying to point out his misrepresentation of the tax code. The annual salary of his secretary would not equate to a 30% tax assuming she made 60k per yr. I wasn't quite sure on his actual salary but, I know there were inconsistencies with his statement. The rich pay more in taxes as the tax code stands now. If Buffet wanted to pay more in taxes, he doesn't have to send his money offshore or placed in other tax shelters. Heck, he could even give his money to the government instead of his charity. Indeed, if he thinks the government knows how best to spend his money. Oh, I know that's a bit extreme but....

It's probably a better debate in respect to the tax code purpose for income redistrubution or to fund the government.
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Gotcha.
 
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