Stop coddling the super-rich, Warren Buffett says

[sly_wolf 199]

Billionaire Warren Buffett urged U.S. lawmakers Monday to raise taxes on the country's super-rich to help cut the budget deficit, saying such a move will not hurt investments.

"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," The 80-year-old "Oracle of Omaha" wrote in an opinion article in The New York Times.

Buffett, one of the world's richest men and chairman of conglomerate Berkshire Hathaway Inc , said his federal tax bill last year was $6,938,744.

"That sounds like a lot of money. But what I paid was only 17.4 percent of my taxable income - and that's actually a lower percentage than was paid by any of the other 20 people in our office. Their tax burdens ranged from 33 percent to 41 percent and averaged 36 percent," he said.

Lawmakers engaged in a partisan battle over spending and taxes for more than three months before agreeing on August 2 to raise the $14.3 trillion U.S. debt ceiling, avoiding a U.S. default.

"Americans are rapidly losing faith in the ability of Congress to deal with our country's fiscal problems. Only action that is immediate, real and very substantial will prevent that doubt from morphing into hopelessness," Buffett said.

Buffett said higher taxes for the rich will not discourage investment.

"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."

I like this guy ..... smart and someone honest for a change.

[slim 1,514]

F'k that guy.

There's no reason for any of us to pay more taxes. Not a single penny.

[sly_wolf 199]

F'k that guy.

There's no reason for any of us to pay more taxes. Not a single penny.

It will eventually happen ... and the wealthy do need to get tapped first.

[slim 1,514]

It will eventually happen ... and the wealthy do need to get tapped first.

Why? Are they not paying enough already?

[lostinblue 1,989]

Gifts to the United States Government

How do I make a contribution to the U.S. government?

Citizens who wish to make a general donation to the U.S. government may send contributions to a specific account called "Gifts to the United States." This account was established in 1843 to accept gifts, such as bequests, from individuals wishing to express their patriotism to the United States. Money deposited into this account is for general use by the federal government and can be available for budget needs. These contributions are considered an unconditional gift to the government. Financial gifts can be made by check or money order payable to the United States Treasury and mailed to the address below.

Gifts to the United States

U.S. Department of the Treasury

Credit Accounting Branch

3700 East-West Highway, Room 622D

Hyattsville, MD 20782

Any tax-related questions regarding these contributions should be directed to the Internal Revenue Service at (800) 829-1040.

Warren… if the government was so worthy of your money and so much better at spending it than you are, why are you donating to private charity instead of donating to the government?

[slim 1,514]

Warren… if the government was so worthy of your money and so much better at spending it than you are, why are you donating to private charity instead of donating to the government?

Bingo.

[mawilson 2,133]

What an аsshole! He already made his billions, now he wants to tax people.

[sly_wolf 199]

I guess no one really wants to read what he is saying.

Why? Are they not paying enough already?

Nope and Buffet confirms it.

[IR5FORMUMSIE 850]

I guess no one really wants to read what he is saying.

Nope and Buffet confirms it.

Buffet's right! President Bonzo allowed the uber-rich to gorge off the taxpayers.

F'k that guy.

There's no reason for any of us to pay more taxes. Not a single penny.

So, you'd rather subsidize rich folks. OK.

[dalegg 143]

"That sounds like a lot of money. But what I paid was only 17.4 percent of my taxable income - and that's actually a lower percentage than was paid by any of the other 20 people in our office. Their tax burdens ranged from 33 percent to 41 percent and averaged 36 percent," he said.

If the other people in his office are already at a tax burden of 33 to 41 percent, then they are almost certainly in the range that would have their tax burdens raised as well. I wonder if they all signed on to this.

[IR5FORMUMSIE 850]

Gifts to the United States Government

How do I make a contribution to the U.S. government?

Citizens who wish to make a general donation to the U.S. government may send contributions to a specific account called "Gifts to the United States." This account was established in 1843 to accept gifts, such as bequests, from individuals wishing to express their patriotism to the United States. Money deposited into this account is for general use by the federal government and can be available for budget needs. These contributions are considered an unconditional gift to the government. Financial gifts can be made by check or money order payable to the United States Treasury and mailed to the address below.

Gifts to the United States

U.S. Department of the Treasury

Credit Accounting Branch

3700 East-West Highway, Room 622D

Hyattsville, MD 20782

Any tax-related questions regarding these contributions should be directed to the Internal Revenue Service at (800) 829-1040.

Warren… if the government was so worthy of your money and so much better at spending it than you are, why are you donating to private charity instead of donating to the government?

I'll post the addresses for the 1, 470 richest Americans who paid no taxes if it makes you feel better.

[mawilson 2,133]

I'll post the addresses for the 1, 470 richest Americans who paid no taxes if it makes you feel better.

Paid no taxes? Please do, I'd like to see the list.

[IR5FORMUMSIE 850]

I guess no one really wants to read what he is saying.

Nope and Buffet confirms it.

Frank McCourt, owner of the Dodgers, has paid NO income taxes since 2004. Think about that one. He's not the only millionaire/billionaire whose tax bill is 0.

[I AM NOT THAT GUY 5,715]

Nothing is stopping Warren from sending a "Gift to Reduce the National Debt" to the US Treasury.

So hard to take these guys seriously. Obviously, 2 million is pretty weak.

http://www.treasurydirect.gov/govt/reports/pd/gift/gift.htm

[IR5FORMUMSIE 850]

Paid no taxes? Please do, I'd like to see the list.

I don't have the full list, here are just a few: John Paulson made $9 BILLION dollars yet paid nothing in taxes; Frank McCourt made $45 Million per year and paid nothing; Terrence Wall made in excess of $14 Million a year and paid nothing. Those are just a few.