Buffett Calls for a Second Stimulus Package

#1
SWIL

SWIL

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#1
Billionaire investor Warren Buffett has joined the chorus of prominent political figures and businessmen calling for a second stimulus.

The CEO of Berkshire Hathaway told ABC's Good Morning America that the first $787 billion stimulus didn't do enough to help the economy and included too many earmarks for politicians' pet projects.

"Our first stimulus bill . . . was sort of like taking half a tablet of Viagra and having also a bunch of candy mixed in," Buffett said in the interview, "as if everybody was putting in enough for their own constituents."
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Buffett calls for second stimulus - Top Stocks Blog - MSN Money

Thoughts? :)
 
#2
#2
his boy obama is the one who "included too many earmarks for politicians' pet projects."

and since he claims he is massively undertaxed why doesn't he give us some of his $40 bill to pay for this second stimulus package.
 
#3
#3
Finally, there is a proposal from Cantor to redirect the unspent stimulus money towards small business and direct job stimulation.

The CEO of Berkshire Hathaway told ABC's Good Morning America that the first $787 billion stimulus didn't do enough to help the economy and included too many earmarks for politicians' pet projects.
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Interesting that he concludes it didn't work when 90% still won't be spent by the end of the year.

Put a cease and desist on the current plan and redirect it.
 
#4
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volinbham said:
Finally, there is a proposal from Cantor to redirect the unspent stimulus money towards small business and direct job stimulation.



Interesting that he concludes it didn't work when 90% still won't be spent by the end of the year.

Put a cease and desist on the current plan and redirect it.
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I agree.
 
#5
#5
droski said:
his boy obama is the one who "included too many earmarks for politicians' pet projects."

and since he claims he is massively undertaxed why doesn't he give us some of his $40 bill to pay for this second stimulus package.
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I don't think his point was he got taxed too little, it was that others are taxed too much.
 
#6
#6
rjd970 said:
I don't think his point was he got taxed too little, it was that others are taxed too much.
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he's repeatably said his california property taxes are too low and that the income tax and death tax are too low.
 
#7
#7
droski said:
he's repeatably said his california property taxes are too low and that the income tax and death tax are too low.
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I thought you were referring specifically to the comment about his secretary getting taxed more than him.
 
#8
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rjd970 said:
I thought you were referring specifically to the comment about his secretary getting taxed more than him.
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Even there I don't think he was advocating she pay less - he was suggesting people like him aren't paying enough.
 
#9
#9
volinbham said:
Even there I don't think he was advocating she pay less - he was suggesting people like him aren't paying enough.
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of course since he is the richest man in the world there aren't many people like him around. i'd gladly pay $28 bil in taxes if you hand me $30 bil.
 
#10
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droski said:
of course since he is the richest man in the world there aren't many people like him around. i'd gladly pay $28 bil in taxes if you hand me $30 bil.
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How greedy of you. Hand me $30 billion, and I'll pay $29 billion in taxes with a smile. :)
 
#11
#11
droski said:
of course since he is the richest man in the world there aren't many people like him around. i'd gladly pay $28 bil in taxes if you hand me $30 bil.
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Huh?

So you agree that it is more difficult for somebody to pay 25% on $60K/year than it is to pay 50% on $1 million/year?

If not, what is the cutoff? When is money enough to where taxes are largely irrelevant?
 
#12
#12
rjd970 said:
Huh?

So you agree that it is more difficult for somebody to pay 25% on $60K/year than it is to pay 50% on $1 million/year?

If not, what is the cutoff? When is money enough to where taxes are largely irrelevant?
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why is it relavant if it is more difficult? it's a lot more difficult to earn $1 mil a year than it is to earn $60k a year. shouldn't that matter too?
 
#13
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droski said:
why is it relavant if it is more difficult? it's a lot more difficult to earn $1 mil a year than it is to earn $60k a year. shouldn't that matter too?
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Difficult? Would you consider Buffet, Gates, ect...to have some of the toughest jobs in the world?
 
#15
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rjd970 said:
Difficult? Would you consider Buffet, Gates, ect...to have some of the toughest jobs in the world?
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Many would argue against it, but Robert Gates has the toughest job in the world.

:hi:

The more I know about him, the more I admire him!
 
#16
#16
I'm surprised that 2 of you fiscal conservative would be okay with having 28 or 29 out of 30 billion taxed.

While I get the point of it would be nice to have 1 or 2 billion, the principle of how much $ the government is entitled to jack from me stays the same.
 
#17
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volinbham said:
I'm surprised that 2 of you fiscal conservative would be okay with having 28 or 29 out of 30 billion taxed.

While I get the point of it would be nice to have 1 or 2 billion, the principle of how much $ the government is entitled to jack from me stays the same.
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Thank you. Just looking for some consistency. :hi:
 
#18
#18
volinbham said:
I'm surprised that 2 of you fiscal conservative would be okay with having 28 or 29 out of 30 billion taxed.

While I get the point of it would be nice to have 1 or 2 billion, the principle of how much $ the government is entitled to jack from me stays the same.
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Insanity!

One of the horrible ideas Lincoln came up with. I understand it was a war and all but after the war ended all of that crap should have been shelved till the next war.
 
#19
#19
volinbham said:
I'm surprised that 2 of you fiscal conservative would be okay with having 28 or 29 out of 30 billion taxed.

While I get the point of it would be nice to have 1 or 2 billion, the principle of how much $ the government is entitled to jack from me stays the same.
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:p

I wouldn't agree with it, but if buffett made $250k a year i very much doubt he would feel he is under taxed. the overwelming majority of the people that obama wants to tax aren't in the "i have more money than i know what to do with" category.
 
#20
#20
I once saw a stat that 80% of people worth $5 mil or more grew up in middle class or lower households. This theory that all the rich in this country did nothing to earn it is plain ridiculous.
 
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droski said:
I once saw a stat that 80% of people worth $5 mil or more grew up in middle class or lower households. This theory that all the rich in this country did nothing to earn it is plain ridiculous.
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I don't dispute most didn't earn it...I just take issue with the notion that they all have the most difficult jobs, Buffet included. I don't think difficulty is directly proportional to pay.
 
#23
#23
droski said:
I once saw a stat that 80% of people worth $5 mil or more grew up in middle class or lower households. This theory that all the rich in this country did nothing to earn it is plain ridiculous.
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If memory serves correct, Warren Buffet would be among that 80%
 
#24
#24
rjd970 said:
I don't dispute most didn't earn it...I just take issue with the notion that they all have the most difficult jobs, Buffet included. I don't think difficulty is directly proportional to pay.
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as i said before. if it was easy everyone would be doing it.
 
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