Warren Buffet calls for higher taxes on the rich

[Thor]

Not probably, he's a fair bit right to most of Europe.

Which in America means Hitler and socialism.

[moon]

Originally Posted by Flames Fan, Ph.D.

A refrigerator costs about 8 days worth of food for a family of 4, which is not expensive.

Fridges are only $100 bucks now? I thought they were in the thousands.

[jayswin]

Originally Posted by moon

Fridges are only $100 bucks now? I thought they were in the thousands.

Uh, fridges are like a lot of things, there's really inexspensive ones, really expensive ones, and everything in between.

[Thor]

I wonder when the conservatives will care that the US is one of the worst nations for wealth disparity. I mean for the longest time it suggested the south american countries were criminally corrupt and dangerous for freedom for that one fact alone.

Now that this is the case in America, any attempts to turn that around is socialism, a hatred of capitalism, a hatred of freedoms, etc..

I just don't understand how you can be conservative in the US, not that the democrats are much better. Shameful how this once great nation is falling apart before our very own eyes, and with it the west.

[SeeBass]

[Slava]

Originally Posted by VladtheImpaler

Democrats are probably to the right of a lot of European "conservatives", for instance Szarko. Obama is not a socialist. He is not really anything...

I think that Obama and the democrats would be further right than the parties in Canada as well. Its hard to say in some ways, because there are a lot of factors and the whole left/right debate is a little simplistic...but I think they would be there. The amusing part is that while most Canadians would've voted for Obama in 2008 (IIRC the surveys said about 70%), if he ran in Canada he would get trounced.

[Thor]

Goldwater, oh how I wish today's conservatives were like him.

[Rockin' Flames]

Originally Posted by afc wimbledon

Second Point. It is perfectly possible to write out a tax law that targets individual income rather than business income, the only hardship this would cause small business would be forcing their accountants to file seperatly.

I'll just comment on the misunderstanding again people seem to have of the US tax system. A significant number of small businesses operate what are called S-Corporations in the US. These corporations are not taxed but all the income flows through to the owners and thus are taxed on their individual returns. However, S-Corporations still are required to file a seperate tax return even though they do not pay income tax. For example:

Mr. X opens up a business and decides to incorporate using the S-Corp
Business earns $300,000 taxable income during the year
The S-Corp pays $0 in income tax
Mr. X leaves $200,000 in the business and takes $100,000
Mr. X is taxed on $300,000 of income on his personal return even though he only has $100,000 available for his personal use

Can the tax code be changed of course but a change to the S-corp form of business would have a significant impact on small businesses owners. I say that because in order to operate an S-Corp there are a lot of restrictions on who can be shareholders how many shares can be issued.

[Azure]

Originally Posted by Thor

Goldwater, oh how I wish today's conservatives were like him.

Some are. You just don't hear about them because the fanatical conservatives scream louder.

[Azure]

Originally Posted by Slava

I think that Obama and the democrats would be further right than the parties in Canada as well. Its hard to say in some ways, because there are a lot of factors and the whole left/right debate is a little simplistic...but I think they would be there. The amusing part is that while most Canadians would've voted for Obama in 2008 (IIRC the surveys said about 70%), if he ran in Canada he would get trounced.

Well, I want to think that Canadians wouldn't be so easily duped by someone who can talk nice, but in the end has absolutely no substance at all.

Obama is more or less like many here described in leading up to 2008, even though everyone liked to argue with it. He can give a nice speech, talk about hope, talk about change, talk about reform.....but in the end he's just a puppet like the last 5 Presidents.

He isn't willing to dictate policy and he has absolutely no plan at all.

Everyone might have hated Bush, but at least he knew what he wanted, and he went out and did it. Might have been wrong, might have been stupid, but at least he showed leadership in those areas he felt strongly about. After 9/11? Afghanistan? Iraq? Patriot Act? Tax Cuts? He got people on board to support his plan. God knows we could do without many of the things he did, but as far as leadership goes, he knew how to get things done.

Obama is none of those things.

[Slava]

Originally Posted by Azure

Well, I want to think that Canadians wouldn't be so easily duped by someone who can talk nice, but in the end has absolutely no substance at all.

Obama is more or less like many here described in leading up to 2008, even though everyone liked to argue with it. He can give a nice speech, talk about hope, talk about change, talk about reform.....but in the end he's just a puppet like the last 5 Presidents.

He isn't willing to dictate policy and he has absolutely no plan at all.

Everyone might have hated Bush, but at least he knew what he wanted, and he went out and did it. Might have been wrong, might have been stupid, but at least he showed leadership in those areas he felt strongly about. After 9/11? Afghanistan? Iraq? Patriot Act? Tax Cuts? He got people on board to support his plan. God knows we could do without many of the things he did, but as far as leadership goes, he knew how to get things done.

Obama is none of those things.

I actually think Obama has done a lot of what he said he would. The part where he had no plan was during the 2008-2009 crisis....frankly though I don't think that was something that could be planned for. As for the issues in the campaign he's worked on those promises. Its just that most of the areas where he wants to do things were never going to be accepted by Republicans. Healthcare is probably a glaring example.

Bottomline is that he was walking into a complete mess. The US economy was falling apart at the end of 2007 and when he took office in January 2009 things were pretty bleak. People want(ed) jobs and prosperity over night and really that was out of governmental control to a large extent. McCain and Palin wouldn't have been any better, and realistically that was the choice. I would shudder to see the consequences of McCain and Palin though...that wouid've been a nightmare for the US and we'd be dragged along for the ride.

[afc wimbledon]

Originally Posted by Rockin' Flames

I'll just comment on the misunderstanding again people seem to have of the US tax system. A significant number of small businesses operate what are called S-Corporations in the US. These corporations are not taxed but all the income flows through to the owners and thus are taxed on their individual returns. However, S-Corporations still are required to file a seperate tax return even though they do not pay income tax. For example:

Mr. X opens up a business and decides to incorporate using the S-Corp
Business earns $300,000 taxable income during the year
The S-Corp pays $0 in income tax
Mr. X leaves $200,000 in the business and takes $100,000
Mr. X is taxed on $300,000 of income on his personal return even though he only has $100,000 available for his personal use

Can the tax code be changed of course but a change to the S-corp form of business would have a significant impact on small businesses owners. I say that because in order to operate an S-Corp there are a lot of restrictions on who can be shareholders how many shares can be issued.

I realise it is almost impossible to concieve but it is possible that your politicians could pull their heads out of their collective arses and change the tax code to do, well whatever the hell they want.

It could affect small businesses or not depending on what they put in the code.

[Flames Fan, Ph.D.]

Originally Posted by moon

Fridges are only $100 bucks now? I thought they were in the thousands.

?

You get can a new fridge for $400. You can get a used fridge for a fraction of that.

[Flames Fan, Ph.D.]

Originally Posted by Slava

As for the issues in the campaign he's worked on those promises. Its just that most of the areas where he wants to do things were never going to be accepted by Republicans. Healthcare is probably a glaring example.

Obama has absolutely sucked on the civil liberties side of the equation. In fact, he has actively sucked, in that he's putting money and resources into prosecutions and various positions that make me want to weep.

But I know this thread isn't about those topics, so I'll leave it at that.

[Azure]

Originally Posted by Slava

I actually think Obama has done a lot of what he said he would. The part where he had no plan was during the 2008-2009 crisis....frankly though I don't think that was something that could be planned for. As for the issues in the campaign he's worked on those promises. Its just that most of the areas where he wants to do things were never going to be accepted by Republicans. Healthcare is probably a glaring example.

Bottomline is that he was walking into a complete mess. The US economy was falling apart at the end of 2007 and when he took office in January 2009 things were pretty bleak. People want(ed) jobs and prosperity over night and really that was out of governmental control to a large extent. McCain and Palin wouldn't have been any better, and realistically that was the choice. I would shudder to see the consequences of McCain and Palin though...that wouid've been a nightmare for the US and we'd be dragged along for the ride.

I'm not talking about 2008/2009, or even the bailout. Bush is more at fault for the bank bailout than Obama is, although Obama would have obviously done the same thing.

I'm talking about 2010 and 2011. Right now. He obviously has no plan. No policy. He's not providing leadership on anything. The debt crisis? He spent more time talking about people not getting their SS, than taking the plan he was agreeing with, and as POTUS, hammering it through Congress. I know he was dealing with a Republican House that wanted to be difficult, but they were so successful because he let them be. From what I've read, Obama was in support of the $4 trillion in cuts, entitlement reform, tax reform deal.....so I'm not sure why he never went to the public and to Congress and tried his best to get people on board.

When Bush wanted to invade Iraq, he had 60% support from the people, and as much or if not more from Congress. He got people to support his clause. In fact, he had Congress wound around his finger so badly that they didn't even properly go over the NIS report regarding WMD in Iraq.

Obama's job policy is nowhere to be found. The media is talking about how he takes vacations while the country is floundering. Is he? I have no idea. It just seems that way because he's not giving anyone anything else to talk about. That is all I hear. And I know that the media loves to report on the more ridiculous things but everything that will happen in the next year or so with the super committee, reform and possible deficit/debt reduction is AS important or perhaps MORE important than the months leading up to the invasion of Iraq. And if I actually remember correctly, Bush had people talking about Saddam and his WMD, and his supposed danger to the world. Not about his vacations, or how his wife was giving him the iPod treatment. Not about BBQs at the Whitehouse, but about the US being in danger from Iraq. Getting 60% of the public to believe something that was a lie just goes to show how good of a job Bush did.

I want Obama to lead. After the incident where the SEALs killed those pirates based on orders from Obama I began to think he was slowly growing into the leadership role. Ordering the attack on OBL like he did, and how he handled everything made me admire Obama as CiC. But I see no such leadership from him on domestic issues. And I don't think he can.

[Azure]

Originally Posted by Flames Fan, Ph.D.

?

You get can a new fridge for $400. You can get a used fridge for a fraction of that.

The original post in this little side discussion perhaps didn't have much merit, but I think this all ties back into welfare for the poor, and a lot of people question whether or not it is being used in the way it should be.

Is the food stamps program as effective as it should be? Is the overall welfare program in the US as effective as it should be? Are people abusing the system? Because there has been evidence that they are. And people question that. Question whether or not you should be buying the 60'' plasma when you are using food stamps to feed your family. I have seen it numerous times with the Natives in southern Alberta. Instead of using their welfare check to build a good life, or at least to give them a start, they used it to buy stuff that they didn't really need. I went to school with kids that talked about their parents doing that. And these kids didn't even have money for lunch.

[Flames Fan, Ph.D.]

Originally Posted by Azure

The original post in this little side discussion perhaps didn't have much merit, but I think this all ties back into welfare for the poor, and a lot of people question whether or not it is being used in the way it should be.

Is the food stamps program as effective as it should be? Is the overall welfare program in the US as effective as it should be? Are people abusing the system? Because there has been evidence that they are. And people question that. Question whether or not you should be buying the 60'' plasma when you are using food stamps to feed your family. I have seen it numerous times with the Natives in southern Alberta. Instead of using their welfare check to build a good life, or at least to give them a start, they used it to buy stuff that they didn't really need. I went to school with kids that talked about their parents doing that. And these kids didn't even have money for lunch.

I'm sorry, but how exactly does one strongly abuse a monthly benefit that, in 2009, was an average of $133?

$133.


And if you're so suspicious of this, then my condolences because I'm sure you can barely sleep at night over people and corporations that abuse tax breaks for unintended purposes. You know, buying hummers and pretending they're farm equipment, etc... etc...

I guess I see your $133 a month anecdote, and raise you a $50,000 anecdote.

But I agree with you, we should really clean up financial abuses that the poor and indigent hurl at the US budget. That's going to repair the fiscal situation overnight. Or, maybe, it won't... but at least you'll just feel better knowing that no poor person got one over on the government. That's a job for the rich.

[moon]

Originally Posted by Flames Fan, Ph.D.

?

You get can a new fridge for $400. You can get a used fridge for a fraction of that.

Fair enough I wasn't asking to be a dick I just hadn't seen a fridge for under about 1500 when I was shopping for one last year.

Not sure I would ever want one for 400 let alone 100 so that stat may be a bit misleading when you take quality into the equation.

[Vulcan]

Originally Posted by Thor

Goldwater, oh how I wish today's conservatives were like him.

At the time Goldwater ran for president he was considered radical right. Johnson's slogan about him was "In your guts you know he's nuts" and now we figure someone like him would be an upgrade. I hope not but it's looking like it could be the decline and fall of the American Empire.

You'd think that their downgrade from AAA status would spur them into getting their political house in order but instead the right blame it on their debt situation, which wasn't the only cause.

S&P also cited dysfunctional policymaking in Washington as a factor in the downgrade. "The political brinksmanship of recent months highlights what we see as America's governance and policymaking becoming less stable, less effective, and less predictable than what we previously believed."

sorry for off topic

[Tinordi]

http://dailyshow.thecomedynetwork.ca/#player-area

Click on the August 18th show. Amazing opening segment. Sounds like he's talking to Calgaryborn and moon directly.