Warren Buffet wall to wall CNBC. Guy is a jerk.

[prince-in-jail]

I don't want to interrupt your conversation but have to get one thing straight quickly:

His name is spelled B-U-F-F-E-T-T.

http://en.wikipedia.org/wiki/Warren_Buffett

 

[seasideheights]

When Obama starts talking up Buffett's statements that it's OK to raise capital gains taxes during the debates, Buffet's charm is going to go right into the toilet.

 

[seasideheights]

"Obama breezily described how he was told by Warren Buffett and others that raising the capital-gains-tax rate from 15 percent to, oh, 25 or even 28 percent — a near-doubling — would have little distorting effect."

http://www.kansascity.com/275/story/562903.html

 

[OldTrader]

Quote from Pa(b)st Prime:

I agree Buffet's a jerk. Duplicitous, preachy, parasitic....

OTOH, I too favor an increase in cap gains and a MASSIVE reduction in ordinary rates.

Wages are a product of work. Earned wages are sacrosanct.

Most capital gains are a product of inflation. Earnings ect. tend to keep pace with prices paid. Price as we know reflects devalued dollars. Thus longer term gains are often caused ipso facto by crap government policies.

Render unto Caesar the things which are Caesar's, and unto God the things that are God's.

Ridiculous.

The lower the rate on capital gains, the more incentive there is to invest money for the long term. Long term investment is the seed corn of any economy, the end result of which is more jobs. You want to see it evaporate, just start raising the capital gain tax.

I'm not for increasing taxes on wages either. Let's get rid of some of this government bloat instead.

OldTrader

 

[Pa(b)st Prime]

Quote from OldTrader:

Ridiculous.

The lower the rate on capital gains, the more incentive there is to invest money for the long term. Long term investment is the seed corn of any economy, the end result of which is more jobs. You want to see it evaporate, just start raising the capital gain tax.

I'm not for increasing taxes on wages either. Let's get rid of some of this government bloat instead.

OldTrader

Bull.

I'm not going to get into an argument where I'm advocating higher taxes because I'm against a tax hike but given the choice I'd raise cap gains and lower income taxes.

Have you ever seen any correlation between capital gains taxes and IPO's or employment growth? If I presented you with an "investment" that could yield a 3x return in a few years would the difference between a 15% or 24% tax be the arbiter of your involvement? Hardly. Besides the corporate rate would be more important anyway.

 

[loik]

Quote from bawr:

In certain European countries, like Belgium, Bulgaria, Netherlands, and Switzerland, people pay 0% capital gains tax. In some other European countries, capital gains are taxed more favourably than ordinary income:

Estonia: 20%
Finland: 28%
France: 16%
Germany: No tax if held more than one year.
Hungary: 20%
Iceland: 10%
Ireland: 20%
Italy: 12.5%
Norway: 28%
Poland: 19%
Sweden: 30%

So European style capital gains tax isn't so bad. I personally think the US should adopt the Swiss model.

In Norway you pay 1.1 % of you net worth every year, 25 % sales tax on everything, food is 14%(+ luxery/sports cars with big engines costs about twice as much as they do in USA because of taxes, gas tax(about 65 % of the retail price is tax), electricity tax, alcohol tax etc.), your inheritors pay 20 % tax on what they receive.

 

[vansmarket.com]

if you don't sell, you don't have to pay any capital tax gains.

and for investors who hold on the securities for less than 2 years or under a year,,,they are not investors.. they are traders.

 

[vansmarket.com]

and btw, majority of people lose money or 80% so they don't have any capital tax gains.

only ones who have capital tax gains are hedge funds who make millions.

 

[FightTheFuture]

Quote from Cesko:



....so called social democracy system is the most efficient predator ever designed. Kings and Queens of the past don't even come close.

Majority, mob rule, cronyism.

Life-limiting, restrictions, obstacles.

With such great efficiency never before seen,
confiscating your property-money, restrictions to starting and running a business to compete with established businesses embedded with the government.

You can't run. You can't hide. They know where you and your money are at all times. You have been assigned a number, you will not be able to survive without it.

 

[FanOfFridays]

Quote from piezoe:

Whatever, Pa(b)st. You're going to be very, very unhappy come November 2008. Pity.

If by this you mean that you think Barack Obama stands a snowball's chance in hell of becoming President, I have some prime swampland to sell you.