Warren Buffett recently wrote in a New York Times opinion piece, “My friends and I have been coddled long enough by a billionaire-friendly Congress. It's time for our government to get serious about shared sacrifice.” Do you agree with his statement?
“Tax the rich high enough and they will find ways to create jobs to alleviate their tax burden. They have been rewarded for offshoring jobs for the last 10 years.”
“Wealth is not taxed; income is. Mr. Buffett has made his money; people like him partner with the government to suppress the competition. Other people would like to or are capable of achieving his level of success. Why should he or others prevent that?”
“They are the people who create jobs, they need to use their resources to do that very thing, not hide it or give it to the government. The economy will heal itself if unemployment would drop to 3%.”
“Trust fund babies are not job creators.”
“Our income tax code, as a progressive tax system, is a failure. There are too many loop holes for the highest income earners.”
“It is ridiculous that a person making over $1 million/year can end up paying the same amount as one making $100K/year due to loopholes.”
“I agree but there is a two-faced aspect to his statement. Congress has become billionaire friendly due not only to the re-election driven greed of its members but also prodded on by the political contributions of those same billionaires looking for favors. If Warren Buffet feels so bad he can always send a check to the U.S. treasury for the purpose of reducing the debt.”