Even if it were a question about burden your burden ratio gets destroyed by massive govt deficit spending.
Hillary is going to win’ in 2016, says Warren Buffett
- Thread starter Banjo
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but we are not talking about models we are talking about reality.
non crony companies pay massive govt taxes particulary when you factor in state and local taxes.
America has and incredibly list of over 100 taxes.
many americans pay over 50 percent in taxes.
and when phil mickelson said its crazy that he pays 63% in taxes all of sudden he would up be persectued for a few days by the FBI.
non crony companies pay massive govt taxes particulary when you factor in state and local taxes.
America has and incredibly list of over 100 taxes.
many americans pay over 50 percent in taxes.
and when phil mickelson said its crazy that he pays 63% in taxes all of sudden he would up be persectued for a few days by the FBI.
You're implying that gov't deficit spending, which has been a constant for the better part of two centuries now, by the way, is in competition with the private sector for credit. At this time it is not, the world is awash in capital with no place to go.
I will concede that while we're closing loopholes and deficiencies in the tax code that the big players are exploiting, at the same time we should probably be lowering business taxes on the little guys.
At any rate, the other tax Buffet was suggesting be raised last year was income tax, specifically the top marginal rate. This is not inconsistent with lowering business taxes, the one combats the politically distorting effects of excessive inequality while the other encourages business formation. I suppose the inconsistency is advocating the latter for large corporations, but then, he's doing his job as a fund manager there.
1. I was not implying that at all.
I was indicating in a ration of gdp to tax burden... which you set up... and GDP inflated by massive deficit spending makes the ratio useless because it makes the burden look far smaller than it would be in a balanced budget scenario.
2. The markets are entirely distorted by the Federal Reserve spending a trilion dollars a year buying debt and thereby devaluing the dollar by flooding the world with capital.
Interest rates are artificially low because of this buying. That is not an indication that the govt is not crowding out private sector investment.
3. If buffet wanted to eliminate inequality... he could start by paying the billions of dollars his company owes to the IRS and proposing a graduated income tax on the top .05% while eliminating taxes on everyone else.
4. Next he could tell buddies at the Fed who feed him sweethart deals to stop printing trillions of US dollars. Let them buy dollars and questionable assets by printing some other countries currency.
I was indicating in a ration of gdp to tax burden... which you set up... and GDP inflated by massive deficit spending makes the ratio useless because it makes the burden look far smaller than it would be in a balanced budget scenario.
2. The markets are entirely distorted by the Federal Reserve spending a trilion dollars a year buying debt and thereby devaluing the dollar by flooding the world with capital.
Interest rates are artificially low because of this buying. That is not an indication that the govt is not crowding out private sector investment.
3. If buffet wanted to eliminate inequality... he could start by paying the billions of dollars his company owes to the IRS and proposing a graduated income tax on the top .05% while eliminating taxes on everyone else.
4. Next he could tell buddies at the Fed who feed him sweethart deals to stop printing trillions of US dollars. Let them buy dollars and questionable assets by printing some other countries currency.
This is all nonsense, jem. We have been deficit spending for two centuries, rarely ever having a balanced budget, and yet the economy, interest rates, inflation, profits, gini coefficient, etc., have been all over the place. There's no correlation, much less causation.
And the rest of the world's currencies would love to hear your devalued US dollar story.
If there is a Hall of Fame for hypocrisym Buffett is surely a charter member.
Taxes may not deter a rich person from investing, but they surely will encourage them to invest differently. Back in the good ole days of sky high taxes that Buffett claims to long for, tons of money went into non-productive tax shelter deals.
Taxes may not deter a rich person from investing, but they surely will encourage them to invest differently. Back in the good ole days of sky high taxes that Buffett claims to long for, tons of money went into non-productive tax shelter deals.
in reverse order.
1. Inflation is up 700 percent in my lifetime... During most of which demand for the dollar all over the world was strong.
Should the value of the dollar gone up or down?
2. You set up your burden ratio by posting a taxes as a percent of gdp.
We seem to both agree now it was a useless ratio.
1. Inflation is up 700 percent in my lifetime... During most of which demand for the dollar all over the world was strong.
Should the value of the dollar gone up or down?
2. You set up your burden ratio by posting a taxes as a percent of gdp.
We seem to both agree now it was a useless ratio.
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That two faced lard ass Buffet can write a check to the government anytime he wants.
http://www.treasurydirect.gov/govt/reports/pd/gift/gift.htm
Rubbish.