Sustainability and Politics: Warren Buffett: In tax war, rich people have "nuclear bomb"

Thursday, January 26, 2012

Warren Buffett: In tax war, rich people have "nuclear bomb"

Warren Buffett: In tax war, rich people have "nuclear bomb" - Political Hotsheet - CBS News

Greed begets greed, and this is not central to the American dream.

The unchecked consolidation of power and wealth away from everyday people was the reason we became an independent country in the first place.

"According to Buffett, his "entire office" pays a higher tax rate - "between 33 and 41 percent in payroll and income taxes" -- than he does.

The issue has come under the microscope in recent days in light of Mitt Romney's having released his tax returns, showing that he paid less than a 15 rate on more than $40 million in acquired wealth over the past two years.

"I don't blame Governor Romney for paying the tax rate he paid," Buffett said. "I blame the U.S. Congress."

"So, if this is a war - I wouldn't call it a war, I'd call it a struggle - but, if this is a war, my side has had the nuclear bomb." He added: "We've got K-Street, we've got lobbyists, we've got money on our side in terms of lobbyists. Deb does not have a lobbyist. She doesn't have anybody remotely that's representing her.But, believe me, plenty of rich families have lobbyists that are working like crazy to get rid of estate taxes, lower capital gain taxes, whatever it may be. So, if there has been a war going on, the war has been waged by the people who are very well to do who are trying to shift the burden onto people like that and away from themselves."'

Greed begets greed, and this is not central to the American dream.

The unchecked consolidation of power and wealth away from everyday people was the reason we became an independent country in the first place.

It is in the American fabric to address this disproportionate wealth creation aided by lobbyist-biased government. Obama addressed this reasonably and well in his State of the Union speech.

Now we all have to follow suit and support fair tax codes, legislation and reform.

Now we all have to DEMAND fair tax codes, legislation and lobbyist reform.

1 comment:

Anonymous said...: To Whom It May Concern:

I didn't read the article but I read the excellent commentary from the WebMaster of this site.

I agree that the only way out of the corrupt money makers centralization of wealth is to reform the way money is made in the great United States of America. Get rid of fiat currency by abolishing the Federal Reserve and thereby interest is gone too. Please refer to The Constitution to solve all freedom loving Americans' fiscal concerns.

Long live freedom.

What a site.

CanuckBuck weighs in.; January 26, 2012 at 3:58 PM

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I've been thinking some about the Winter Solstice, the Mayan end of the 30,000-year-cycle on 12/21/12.

What if in fact the world did end? Even though this probably will not happen, to live consciously it is honest for us to take a bit of an inventory.

Am I happy with how I've lived my life? (Yesterday, I thought mostly yes, with some areas for improvement, as below.) Are there changes I would make?
Would I have tried to forgive those that were hostile or disappointing to me?
Would I spend more time with those I loved the most, telling them that, feeling that more?
Would I be happier, grateful for what I have, what I've experienced, the joy, the beauty in this world?

Maybe the answer is yes to all of the above.
So this time can serve as a point of rebirth for all of us. If we think about it.

Because somewhere along the line I realized I think maybe mankind deserves it. !
The way we are killing each other, killing the planet.
How selfish we are, and snotty to those around us. Petty, competitive. Why is this? Do we have to behave this way? (I say no, it greatly detracts and misdirects energy from the full-time celebration in which we could engage, the great multi-cultural, multi-rhythmic dance we can sustain here.)

Maybe God or the Great Universe is fed up, and will pull the rug out from under us.
Don't think I can say we could blame Him/Her/It.

But it probably won't happen. (Probably not! This time.)

Still we are finite on this ride.

It is a time to think, am I happy with how I've lived my life?
Hopefully most of us can say yes.

For the part of us that have a little worry, a little sadness....
This is the time to be present.
This is the time to be the person you want to be, that can die at peace, that can hope to every day be able to look yourself and the Universe in the eye and say, how beautiful, smiling, and thank you. Let's do that.