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Warren Buffet Says To Congress, "Stop Coddling The Super-rich'' - Business - Nairaland

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Warren Buffet Says To Congress, "Stop Coddling The Super-rich'' by zenatta: 7:14pm On Aug 15, 2011
I find it rather weird that the American Congress ( and Law-makers the world over), would 'coddle' the Mega-rich and yet cudgel the Poor into their graves.
Warren Buffett the third wealthiest man in the world has offered to pay more tax and hopes his fellow super-rich peers would do same. This is not the first time that we hear of the exploits of Buffett a man who once said "to be fearful when others are greedy, and to be greedy only when others are fearful''
He blazes the trail in the concerns of the Poor and is held in awe the world over. In this new development He editorializes in the New-York Times,  saying " Our leaders have asked for “shared sacrifice.” But when they did the asking, they spared me. I checked with my mega-rich friends to learn what pain they were expecting. They, too, were left untouched". Bravissimo and some Chutzpah you may say. The man wants to pay hefty taxes to shield the poor. , "This cut helps the poor and the middle class, who need every break they can get", he writes.
He wants Congress to stop coddling the Super-rich.
Read more from the New-York Times article. Wish our rich would learn from here to give back.

http://www.nytimes.com/2011/08/15/opinion/stop-coddling-the-super-rich.html?src=tp

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Re: Warren Buffet Says To Congress, "Stop Coddling The Super-rich'' by zenatta: 7:38pm On Aug 15, 2011
Warren Buffett opines, "My friends and I have been coddled long enough by a billionaire-friendly Congress. It’s time for our government to get serious about shared sacrifice" This is no hoax, he is not eligible to contest for President and he has a pedigree of philanthropy. He means everything He says. Naturally he will be criticized but such gallantry is unprecedented.
What life's experiences would get a man to this unselfish level. He is no doubt a hero. He calls Washington to attention on tax justice, "While the poor and middle class fight for us in Afghanistan, and while most Americans struggle to make ends meet, we mega-rich continue to get our extraordinary tax breaks". Amazing!
He refuses to be a sacred cow, "These and other blessings are showered upon us by legislators in Washington who feel compelled to protect us, much as if we were spotted owls or some other endangered species. It’s nice to have friends in high places".
He decries the indulgence and wants to give back.
At this point I am jealous and pained. Would this ever happen in my country, I muse hopelessly
Re: Warren Buffet Says To Congress, "Stop Coddling The Super-rich'' by Seun(m): 7:49pm On Aug 15, 2011
He doesn't want anyone else to grow rich like he did. Not even his children. His argument is nonsense.
Re: Warren Buffet Says To Congress, "Stop Coddling The Super-rich'' by donguutti: 8:16pm On Aug 15, 2011
Seun:

He doesn't want anyone else to grow rich like he did. Not even his children. His argument is nonsense.
maybe u should READ the full article on Bloomberg.com, he was just trying to say that the super rich in america pay less percentage of their income in taxes than the middle class, he gave examples and figures, but hey ur entitled to ur opinion.

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Re: Warren Buffet Says To Congress, "Stop Coddling The Super-rich'' by Seun(m): 8:37pm On Aug 15, 2011
I think Warren Buffett is just trying to score cheap political points, but don't take my word for it. 

Here's what Forbes Magazine has to say about Warren Buffett's "very strange tax argument":
Warren Buffett’s got a piece in the New York Times today. A piece in which he makes a very strange claim about the rate of tax that he pays.

What he says, with the qualifications he uses, is true as far as it goes. It is, however, extremely misleading, because he’s left out the effect of the corporate income tax.

There are essentially two conceptual ways in which you can tax dividends. You can tax them as income to the people who collect them: this was the system in the UK, my home country and is effectively the system now. Or you can tax the profits at the corporate level and then dividends are tax free to the recipients. Several continental European countries use this system.

The United States is different: it has elements of both systems. First, corporate profits are subject to the corporate profits tax, some 35% currently as the headline rate. Then dividends are taxed again in the hands of the recipients at the rate of 15%. This means that the effective tax rate on Buffett’s dividends from Berkshire Hathaway was not the 15% that he’s using in his calculation above (the 2.4% to take the total to 17.4% is presumably referring to the capped social security taxes and the income tax on his salary, not dividends).

http://www.forbes.com/sites/timworstall/2011/08/15/warren-buffetts-very-strange-tax-argument/

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Re: Warren Buffet Says To Congress, "Stop Coddling The Super-rich'' by donguutti: 9:09pm On Aug 15, 2011
seun maybe u should stop reading that guy go to the comments to see that he got his calculations wrong, secondly Berkshire hathaway doesn't pay dividends ,never has, and comparing america to uk was his first mistake
Re: Warren Buffet Says To Congress, "Stop Coddling The Super-rich'' by pcp: 9:54pm On Aug 15, 2011

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