Great video showing Barack Obama and Ronald Reagan essentially saying the same thing:
Sshh! Don't tell any conservatives Reagan was a pragmatist. For them it's like a kid finding out there's no Santa Claus.
Showing posts with label Warren Buffett. Show all posts
Showing posts with label Warren Buffett. Show all posts
Tuesday, October 4, 2011
Thursday, August 18, 2011
CTJ: Warren Buffett Is Right, the Wall Street Journal Is Wrong
Citizens for Tax Justice explains how Warren Buffett is right and The Wall Street Journal is wrong:
"Warren Buffett, the billionaire investor and CEO of Berkshire Hathaway, called for higher taxes for millionaires in a widely-noted op-ed this week. As expected, the Wall Street Journal reacted with a variety of misleading counter-arguments. We conclude that:
1. Buffett is correct that the tax breaks that benefit the wealthy investor class, like the capital gains and dividends preferences, are unfair.
2. The Wall Street Journal’s arguments that these types of investment income are double-taxed are incorrect.
3. Contrary to what the Journal claims, President Obama’s tax plan is in keeping with Buffett’s call for higher taxes on millionaires."
Read the whole post for more. Well done, CTJ. Well done.
"Warren Buffett, the billionaire investor and CEO of Berkshire Hathaway, called for higher taxes for millionaires in a widely-noted op-ed this week. As expected, the Wall Street Journal reacted with a variety of misleading counter-arguments. We conclude that:
1. Buffett is correct that the tax breaks that benefit the wealthy investor class, like the capital gains and dividends preferences, are unfair.
2. The Wall Street Journal’s arguments that these types of investment income are double-taxed are incorrect.
3. Contrary to what the Journal claims, President Obama’s tax plan is in keeping with Buffett’s call for higher taxes on millionaires."
Read the whole post for more. Well done, CTJ. Well done.
Zinging Warren Buffett - The New Republic
Jonathan Chait of The New Republic fires back at all those conservatives that say that Warren Buffett should voluntarily write a check for the taxes he thinks he should owe:
"The Wall Street Journal editorial page:
If he's worried about being undertaxed, we'd suggest he simply write a big check to Uncle Sam and go back to his day job of picking investments.
Obviously this fails to grasp the fundamental collective action problem that's the entire basis for taxation. You obviously can't fund the government on the basis of voluntary donations. Buffett and other wealthy people who favor higher taxes on the rich don't just believe they should pay more taxes. They believe the government needs more revenue. It's amazing how many conservatives continue to think this just-pay-more response constitutes some kind of slam dunk rebuttal. Plus, of course, if a non-rich person proposes raising taxes on the rich, then it's "envy" and "class warfare." So, really, nobody has any business ever arguing that the rich should pay higher taxes."
Amazing that over 90 years later, the Republican Party is still proposing the policy of volunteerism first championed by President Herbert Hoover at the start of the Great Depression.
"The Wall Street Journal editorial page:
If he's worried about being undertaxed, we'd suggest he simply write a big check to Uncle Sam and go back to his day job of picking investments.
Obviously this fails to grasp the fundamental collective action problem that's the entire basis for taxation. You obviously can't fund the government on the basis of voluntary donations. Buffett and other wealthy people who favor higher taxes on the rich don't just believe they should pay more taxes. They believe the government needs more revenue. It's amazing how many conservatives continue to think this just-pay-more response constitutes some kind of slam dunk rebuttal. Plus, of course, if a non-rich person proposes raising taxes on the rich, then it's "envy" and "class warfare." So, really, nobody has any business ever arguing that the rich should pay higher taxes."
Amazing that over 90 years later, the Republican Party is still proposing the policy of volunteerism first championed by President Herbert Hoover at the start of the Great Depression.
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