I see your point-- by raising taxes it will be hard to compete with him. But if a solid chunk of that is going to a charity, as well as taxes (which ideally will help the poor), I really can't fault the guy.
The Buffett Plan For Reducing The Trade Deficit
- Thread starter libertad
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I see your point-- by raising taxes it will be hard to compete with him. But if a solid chunk of that is going to a charity, as well as taxes (which ideally will help the poor), I really can't fault the guy.
Something has to pay for welfare, medicare/caid, etc.
Plus, I threw "ideally" in there for a reason
If the U.S. wants to reduce their trade deficit, why don't they start by increasing the tax on gasoline. The increased price in gas would force people to start seeking home grown alternatives. No country is going to retaliate with a trade war over higher gas taxes. Most of the world already taxes gasoline far more than the U.S. does.
Stop being so gullible, almost all of these big charities and foundations are just tax shelters and concealment of wealth. Ever wonder why the old money families (Rockefellers, Vanderbuilts, Warburgs, Morgans, etc.) don't show up on the Forbes richest people lists? How about the royal families of Europe?
These people are not stupid, they are very smart. If they had any desire to truly help, they would not be dealing with charities & foundations, they would just revitalize economies & manufacturing bases at rock bottom profits, or even break even/net loss
Hence Buffett's plan, it's a bunch of hogwash that seems to be gearing toward something like a Carbon Credit but with different attributes, which translates into more power in bureaucracies.
Put a sales tax on every trade, like when you go to the store you pay a sales tax,,pick a fair percent,,,