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Dear Politicalplangetis:
The case for raising taxes on the rich by one of it's most famous members.. Warren Buffet.
A real interesting read explaining why Mr. Buffett thinks it's time he and his peers should be taxed more.
He says somethings not right when he pays less of a tax rate then his secretary.
Stop coddling the Super-Rich by Warren Buffet
http://www.nytimes.com/2011/08/15/opinion/stop-coddling-the-super-rich.html?_r=1&smid=tw-nytimesbusiness&seid=auto
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Dear [Reader]:
I disagree with Warren Buffett. History has shown that every dime you give the government - I dont care if its a Republican or Democrat who is president at the time - the government spends this tax money AND THEN SOME. It doesn't matter how much we've raised taxes and this is still the case. So then, I ask why would we want to give the government any more money?
Look at what the US government is doing right now. They are taking the tax dollars they receive and allowing the Fed to buy treasuries with this money. This money is not actually the tax money. The government is giving the Fed the go-ahead to PRINT money - it is coming from thin air - since the tax money is not sufficient for this purpose. What this means is the dollar's value is falling versus other currencies because more dollars in circulation means each unit of money is worth less. Further, the US dollar can purchase less and less as the government continues to allow the Fed to do this.
This is why I argue the government shouldn't get a dime more of any tax payer money. I don't care if the money is from the super rich who some may say already have plenty of money. History doesn't lie. At least if the super rich kept their money their would be a chance that those people would use the money to reinvest it to create jobs. Or at the very least they will save the money in a bank, and someone else can go to that bank and BORROW their saved money. The US government needs to quit vilifying the rich and stop pursuing raising taxes even further.
I end with this thought: if Warren Buffett is so much in favor of raising taxes on the super-rich, then how come he doesn't raise taxes on himself and send more of his money to the US government?
- Politicalplangetis.
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Dear [Reader]:
I disagree with Warren Buffett. History has shown that every dime you give the government - I dont care if its a Republican or Democrat who is president at the time - the government spends this tax money AND THEN SOME. It doesn't matter how much we've raised taxes and this is still the case. So then, I ask why would we want to give the government any more money?
Look at what the US government is doing right now. They are taking the tax dollars they receive and allowing the Fed to buy treasuries with this money. This money is not actually the tax money. The government is giving the Fed the go-ahead to PRINT money - it is coming from thin air - since the tax money is not sufficient for this purpose. What this means is the dollar's value is falling versus other currencies because more dollars in circulation means each unit of money is worth less. Further, the US dollar can purchase less and less as the government continues to allow the Fed to do this.
This is why I argue the government shouldn't get a dime more of any tax payer money. I don't care if the money is from the super rich who some may say already have plenty of money. History doesn't lie. At least if the super rich kept their money their would be a chance that those people would use the money to reinvest it to create jobs. Or at the very least they will save the money in a bank, and someone else can go to that bank and BORROW their saved money. The US government needs to quit vilifying the rich and stop pursuing raising taxes even further.
I end with this thought: if Warren Buffett is so much in favor of raising taxes on the super-rich, then how come he doesn't raise taxes on himself and send more of his money to the US government?
- Politicalplangetis.
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