The rich have already made their stash, and, accordingly, can structure their income to manage their tax liability. The almost-rich, on the other hand, are trying to become rich, and pay tax on their accretions of wealth.
Buffett is simply guarding the interests of his social class in calling for increased taxation, which will disproportionately fall on the upwardly mobile arrivistes. Everything about this blowhard reeks of self-absorption.
Saturday, August 20, 2011
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Rather than increase taxes on this income backet, solicit them to donate voluntarily since he feels the need to do so.
Yes, but if my thesis about his guarding the interests of his social class is correct, he wouldn't bite at a voluntary program. He'd wish to place the upwardly mobile at a competitive disadvantage by siphoning off their annual wealth accretion to Uncle Sam's bottomless pit.
If Buffett participated in a voluntary program, I'd change my opinion about his being a self-involved blowhard.
He's already volunteered to give away his wealth, so your thesis that he's merely guarding his wealth interests is stupid. As a note, Buffet may be many things, but he's never been a part of the wealthy class.
There is a broader point though: most of his money comes in terms of long term capital gains, not regular income: obviously the capital gains exemption should be eliminated immediately.
Yes, he's volunteered to give a lot of his moola to the foundation of his socio-economic classmate, Bill Gates. The established upper class, with notable exceptions, never tires of its display of noblesse oblige.
So....are you one of these upwardly mobile arriviste or just one of the wanna-be upwardly mobile arriviste?
I'm a supporter of the entrepreneurial class. Entrepreneurs are much more creative than I am, and they make my life much easier than I deserve.
I'm a supporter of the entrepreneurial class
they make my life much easier than I deserve.
You are truly deserving of the Baldrick award,
I love awards as long as they're shiny.
Sorry....can't shine a turd.
It's shinola.
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