WARREN WINS THE COAT OF MANY COLORS
As folks who speak in the vernacular would say, this photo ‘got to me’. I met Warren Buffet only once. It was in Tower 2 of the World Trade Center. The occasion was a luncheon at the offices of the New York Society of Securities Analysts where I was a member at the time. Perhaps my reaction is just a personal one due to a sensitivity heightened by the timing, so close to 911.
The Presidential Medal of Freedom is an award bestowed by the President of the United States and is the highest award of honor given to a civilian. It recognizes those individuals who have made “an especially meritorious contribution to the security or national interests of the United States, world peace, cultural or other significant public or private endeavors.
Warren Buffet is a man of integrity and good will. Lenin called such well intended people who supported his reign “useful idiots”. I find it grating to see our President grant such a high honor to someone best known as a political advocate for one of the President’s controversial political positions.
I suppose there was no other choice. We do not have a Medal of Useful Idiocy, although a medal for cowardice was actually proposed a couple of years ago. It was to be called the Medal of Courageous Restraint. Click the link to see what we wrote about it. It was a good post.
YJCMTSU (You Just Can’t Make This Stuff Up)
C’mon Warren, tell the whole story. The only reason your net tax rate is so low is because most of your income is from stock dividends. Your salary puts you in the top tax bracket which is 28% and that is what you are paying on your wages. Tell it like it is.
TWO CORPORATE JET MAGNATES
The money that’s paid to you in dividends is taxed at 35% before you even get it. Then you are taxed another 15% on the same money. The government is getting half of the profit the business makes. Isn’t that enough? It’s in the same ballpark as many other countries although they collect it differently. Some tax all 50% at the corporate level and take none from the investor. Others take all 50% from the investor and nothing from the corporation on money they pay out in dividends. In the latter case your bottom line taxes would be nearly 50%. In either case the money collected by the government is the same.
Quit your squawking and do more of what your buddy Bill Gates does. Give more of your embarrassment of riches directly to good causes like hospitals, schools and centers for medical research. By-pass the middle man. Your money will go farther. None of it will be siphoned off for political corruption and you can choose what you want to support. If Obama loses the next election your tax money will be managed by Republicans. Is that really what you want?