Does it change your mind about raising the tax rate on millionaires?

if it comes from Warren Buffet?

“I have worked with investors for 60 years and I have yet to see anyone -- not even when capital gains rates were 39.9 percent in 1976-77 -- shy away from a sensible investment because of the tax rate on the potential gain,” he said.

“People invest to make money, and potential taxes have never scared them off,” he said. “And to those who argue that higher rates hurt job creation, I would note that a net of nearly 40 million jobs were added between 1980 and 2000. You know what’s happened since then: lower tax rates and far lower job creation.”

http://www.bloomberg.com/news/2011-08-15/buffett-urges-congress-to-raise-taxes-on-coddled-billionaires.html

2011-08-15T12:02:54Z

So you think it would be fair for a household making $20,000.00 should live on $1,166 a month and a double Millionaire should live on $116,666 per month?

The rich get a lot more out of the Government services than the poor.
The Education system teaches a poor man's son to get a job, it teaches a workforce for the rich. The Army protects a border and a home and a job for a poor man, it protects all of the material investments for a rich man. The criminal justice system keeps a poor man saver and protects a few things he owns but for the rich, it keeps them rich.

?2011-08-15T13:04:05Z

S&P downgraded the credit rating because Republicans refused to raise taxes:
"We have changed our assumption on this because the majority of Republicans in Congress continue to resist any measure that would raise revenues, a position we believe Congress reinforced by passing the act."

Now Buffett's saying the same thing: Taxes must be raised.
And he's the guy that warned about derivatives trading way back in 2003 - http://news.bbc.co.uk/2/hi/2817995.stm
The same trading which caused the Financial Crisis.

So if anybody ought to listen to anybody, people ought to listen to Buffett.

FozzieBear2011-08-15T09:06:05Z

Reagan lowered the Capital Gains tax during his tenure, and the income from the money that started moving around gave us over 10 extremely prosperous years in America.

Every dollar the government takes out of the economy is one dollar less for anyone to earn. It hurts the economy every single time.

If Buffet is so in love with taxes, why doesn't he pay more than what is legally required? Why don't any of the liberals who scream for higher taxes overpay? It's perfectly legal. There's even a line on the tax form to give more. Couldn't these libs at least not take any deductions? Isn't that like stealing from the poor?

.

Anonymous2011-08-15T09:22:16Z

Lets not worry about how much money one person has and another has not. This is America, and you have the freedom to be as successful or unsuccessful as you want to be. Instead lets change this rats nest of a tax code we have now and make it one very simple percentage across the board for everybody. I believe this would increase federal revenues......and get rid of all the class warfare bullshit. Go ahead....argue with that.

Anonymous2016-01-29T05:38:26Z

yes. Of course. I stopped investing in the United States years ago because of taxes. Now I invest in my spouses name in another country who is not a United States citizen.

Anonymous2011-08-15T09:19:22Z

The reason we are in this financial crisis is because of foreign bankers. America thought they were free after the revolutionary war, well we are still ruled by England. This is the underlying problem but everybody keeps talking about the symptoms.

"I fear that foreign bankers with their craftiness and tortuous tricks will entirely control the exuberant riches of America and use it to systematically corrupt civilization."
-Otto Von Bismark (1815-1898)

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