UnThreaded | Threaded | Whole Thread (13) | Ignore Thread Prev | Next
Author: twopairfullhouse Big gold star, 5000 posts Top Recommended Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 852734  
Subject: Re: Why Warren Buffett is wrong about taxes Date: 12/18/2012 10:48 AM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 2
No, but it sure seems like he thinks it is actually a good thing for the country.

Pretty much everyone not named Barack Obama agrees that paying down our national debt would be a good thing for the country. And pretty much everyone would agree that we have to have tax revenue to do that, and there are many on both sides of the aisle that are willing to tighten their belt and do their patriotic duty. But the problem is that paying more taxes without cutting spending will not solve the problem. Our debt will continue to grow with only a small change in the rate of growth.

The fact that Buffett has only been on the side of the debate helping Obama (i.e., 'we need to raise taxes on the rich'), when, if he wanted to actually solve the problem would tell the whole truth (i.e., 'we need to also cut spending'), should tell you all you need to know about his motivation. He knows his way around a balance sheet and an income statement as much as anyone ever has, and the U.S. Government balance sheet and income statement are a fricking train wreck. He knows this, yet he confines his remarks to only those that help Obama. Buffett is many things, but a statesman is not one of them.
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (13) | Ignore Thread Prev | Next


What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.