Warren Buffet on Solving the US Income Disparity

NewtoMJ

NewtoMJ

Well-Known Member
Red1966 said:
You don't need to pay any taxes to receive tax credits. If you paid zero taxes and qualify for a $1,500 credit, you will receive a "return" of $1,500.
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Where does that money come from? It comes from someone's taxes.
Red1966 said:
That would explain why you're so cranky.
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Yes. I voted for the medical amendment here in Florida, but we failed, I also participated in your sig. I only got into herb two years ago, I've only ever smoked what I grow. I don't want to support a pipeline that may be putting scripts in the hands of children.
 
Red1966

Red1966

Well-Known Member
NewtoMJ said:
Where does that money come from? It comes from someone's taxes.
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Yes, but not the recipient of the credit.
NewtoMJ said:
Yes. I voted for the medical amendment here in Florida, but we failed, I also participated in your sig. I only got into herb two years ago, I've only ever smoked what I grow. I don't want to support a pipeline that may be putting scripts in the hands of children.
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Epileptic children have benefited greatly from medical.pot. So much that one strain is already legal to grow in Florida, Charlette's Web. A strain haveing almost no THC.
 
NewtoMJ

NewtoMJ

Well-Known Member
Red1966 said:
Yes, but not the recipient of the credit.

Epileptic children have benefited greatly from medical.pot. So much that one strain is already legal to grow in Florida, Charlette's Web. A strain haveing almost no THC.
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Yea, but charlottes web doesn't help me lol. I meant that I don't wanna do business with a drug dealer who might sell other stuff to kids.
 
Red1966

Red1966

Well-Known Member
NewtoMJ said:
How so?
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If you buy any "product" at all, how are you going to know the age of each and every one of his other customers? They only way to be sure you're not doing business with that type is to not do business with any dealer. One of the reasons I grow my own, tho I do occassionaly buy.
 
Uncle Ben

Uncle Ben

Well-Known Member
TBoneJack said:
http://www.msn.com/en-us/money/markets/warren-buffett-stop-blaming-the-rich-for-income-inequality-if-you-want-to-help-increase-tax-credits/ar-BBk7Alo?ocid=mailsignout

I'm not sure about the complete validity of what all he says, but most people here probably won't like it. He's kinda "defending" the rich; not completely, but "kinda". I'd be interested in seeing what people here think about it.

A Quote:
"The world’s third-richest man weighed in on the national debate over rising levels of income disparity in the United States yesterday, saying that while the gaps between the country’s haves and have nots are definitely increasing, it is not the fault of those at the top. Nor will it be solved by traditional methods, like improving education or hiking the minimum wage. His solution: a pragmatic, direct way of helping incomes rise for the working poor across America by increasing access to the Earned Income Tax Credit.

No conspiracy lies behind this depressing fact: The poor are most definitely not poor because the rich are rich,” Buffett, who’s net worth we clock in at $71.3 billion, wrote in a Wall Street Journal opinion piece published late yesterday. “Nor are the rich undeserving. Most of them have contributed brilliant innovations or managerial expertise to America’s well-being. We all live far better because of Henry Ford, Steve Jobs, Sam Walton and the like. Instead, this widening gap is an inevitable consequence of an advanced market-based economy.”
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He's spot on. The rich he speaks of didn't have a pot to piss in when they began their quest - Dr. Ben Carson, Sam Walton, Steve Jobs, Henry Ford...... If you're not willing to take risks and work hard, you'll never succeed. You'll end up being another have-not RIU flunky not making any sense and crying "racist" with every post.
 
UncleBuck

UncleBuck

Well-Known Member
Uncle Ben said:
He's spot on. The rich he speaks of didn't have a pot to piss in when they began their quest - Dr. Ben Carson, Sam Walton, Steve Jobs, Henry Ford...... If you're not willing to take risks and work hard, you'll never succeed. You'll end up being another have-not RIU flunky not making any sense and crying "racist" with every post.
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my toyota pickup's glove box is only of average size, but at least i have a driveway.
 
NewtoMJ

NewtoMJ

Well-Known Member
Red1966 said:
If you buy any "product" at all, how are you going to know the age of each and every one of his other customers? They only way to be sure you're not doing business with that type is to not do business with any dealer. One of the reasons I grow my own, tho I do occassionaly buy.
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Yea, I don't do any business with any dealer for that reason. I have only used what I've grown. Except the first time, that was a buddies grow.
 
heckler73

heckler73

Well-Known Member
:lol:
Buffett is a tax-dodging hypocrite. His words are meaningless.

FOR 2014, BERKSHIRE ITSELF recorded a provision for $7.9 billion in taxes, most of which was “deferred.” In fact Berkshire, like many other companies, is able to defer much of its taxes, in its case $61 billion. This is money it acknowledges it owes the government but has yet to pay.
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The Buffett Loophole and the Berkshire Model provide clear examples of the purpose of Sections 531 and 532. Buffett and Berkshire are accomplishing precisely what the code is trying to prevent: shareholders getting away without paying taxes.

http://online.barrons.com/articles/warren-buffetts-nifty-tax-loophole-1428726092
 
Harrekin

Harrekin

Well-Known Member
heckler73 said:
:lol:
Buffett is a tax-dodging hypocrite. His words are meaningless.

FOR 2014, BERKSHIRE ITSELF recorded a provision for $7.9 billion in taxes, most of which was “deferred.” In fact Berkshire, like many other companies, is able to defer much of its taxes, in its case $61 billion. This is money it acknowledges it owes the government but has yet to pay.
...
The Buffett Loophole and the Berkshire Model provide clear examples of the purpose of Sections 531 and 532. Buffett and Berkshire are accomplishing precisely what the code is trying to prevent: shareholders getting away without paying taxes.

http://online.barrons.com/articles/warren-buffetts-nifty-tax-loophole-1428726092
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The "compassionate lefties" here on RIU don't seem to realize their Gods are 1%ers too and merely pay lip service to "helping the poor".

It's like Paul Newman and his "charitable contributions"...to the fucking NRA.
 
Padawanbater2

Padawanbater2

Well-Known Member
Harrekin said:
The "compassionate lefties" here on RIU don't seem to realize their Gods are 1%ers too and merely pay lip service to "helping the poor".
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False. Do you ever see me or anyone else here criticize people like Bill Gates, Elon Musk, or George Lucas for the way they conduct their business?

Have you ever wondered why these extremely wealthy individuals get a pass while the Waltons, Lloyd Blankfein, Michael Corbat, Arthur Peck, or Rex Tillerson don't?

It's because of the way they conduct business. There's a right way and a wrong way, and those that get criticized do it the wrong way. People like Buffett, while still taking advantage of the economic system that's available to them, do it the right way. He fully admits it's wrong he pays less in taxes (percentage) than his secretary, and he's 100% right, and nothing he says is invalidated because of said government loophole. If he was looking to continue exploiting it, why would he publicly state as much? Answer: he wouldn't. He's on board with reform of the financial system.

There's nothing wrong with being wealthy. There is something wrong with becoming so wealthy you can change the rules of the game in your favor. It would be like if you and I were playing monopoly and I owned 90% of the properties on the board so I go bribe the bank to make your rent worth less to muscle you out of business so I own 100% of the properties. I'm pretty sure you wouldn't sit on the sidelines and tell yourself you just need to work harder, you just need to work more hours to make up the difference.. No, you'd be bitching about the rules being changed mid-game

You're a liar if you wouldn't and a coward if you'd just sit back and take it
 
Harrekin

Harrekin

Well-Known Member
Padawanbater2 said:
False. Do you ever see me or anyone else here criticize people like Bill Gates, Elon Musk, or George Lucas for the way they conduct their business?

Have you ever wondered why these extremely wealthy individuals get a pass while the Waltons, Lloyd Blankfein, Michael Corbat, Arthur Peck, or Rex Tillerson don't?

It's because of the way they conduct business. There's a right way and a wrong way, and those that get criticized do it the wrong way. People like Buffett, while still taking advantage of the economic system that's available to them, do it the right way. He fully admits it's wrong he pays less in taxes (percentage) than his secretary, and he's 100% right, and nothing he says is invalidated because of said government loophole. If he was looking to continue exploiting it, why would he publicly state as much? Answer: he wouldn't. He's on board with reform of the financial system.

There's nothing wrong with being wealthy. There is something wrong with becoming so wealthy you can change the rules of the game in your favor. It would be like if you and I were playing monopoly and I owned 90% of the properties on the board so I go bribe the bank to make your rent worth less to muscle you out of business so I own 100% of the properties. I'm pretty sure you wouldn't sit on the sidelines and tell yourself you just need to work harder, you just need to work more hours to make up the difference.. No, you'd be bitching about the rules being changed mid-game

You're a liar if you wouldn't and a coward if you'd just sit back and take it
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Do you EVER stop crying?

You're an idealist, but you might actually have some money one day, and I guarantee then youll realise how retarded you sound.
 
Padawanbater2

Padawanbater2

Well-Known Member
Harrekin said:
Do you EVER stop crying?

You're an idealist, but you might actually have some money one day, and I guarantee then youll realise how retarded you sound.
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I have more money than I can spend as a single individual. I make way more than I spend. You conservatives love to use that as some kind of pseudo bargaining chip as if it means something, especially after people like Warren fucking Buffett are posted criticizing the current economic system.. Seriously, do you have any shame at all? I'm not rich by any measure, but Buffett is, and HE'S telling you there's an economic disparity problem the likes of which we haven't seen since the great depression! He knows people with no money can't spend it at his company, so why the fuck would he ever want people to have no money, like they do now? (Answer: DUH! He wouldn't!)

People with no money don't spend money

Pull your uneducated head out of your overfed ass
 
Harrekin

Harrekin

Well-Known Member
Padawanbater2 said:
I have more money than I can spend as a single individual. I make way more than I spend. You conservatives love to use that as some kind of pseudo bargaining chip as if it means something, especially after people like Warren fucking Buffett are posted criticizing the current economic system.. Seriously, do you have any shame at all? I'm not rich by any measure, but Buffett is, and HE'S telling you there's an economic disparity problem the likes of which we haven't seen since the great depression! He knows people with no money can't spend it at his company, so why the fuck would he ever want people to have no money, like they do now? (Answer: DUH! He wouldn't!)

People with no money don't spend money

Pull your uneducated head out of your overfed ass
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So the guy who admits to dodging taxes is the guy you believe can save the poor?

Lol, he doesn't even contribute himself.
 
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