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Comment: Re:Especially with guys like George Soros at the h (Score 3, Informative) 509

by Mieckowski (#25425197) Attached to: Linux As a Model For a New Government?
Warren Buffett gave $28,500 in 2008 to democrats this year according to this site. Is that "huge scads of money"? He is "pouring even more money into their coffers"? Where do you get this stuff?

You are arguing that he is for the estate tax because he makes money on estate tax insurance. Sure. I'm sure it is has nothing to do with values about where the tax burden is least harmful. Taxes have to come from somewhere unless you want to just print money or borrow another $trillion from China.

I think the consensus on the bailout bill was that there would be catastrophic consequences for the US economy if the situation was not resolved. Do you have money in the bank (more than the then 100000 FDIC limit - btw the FDIC would go bankrupt pretty quick)? Do companies have money in banks? There was consensus among people who understood the situation that something needed to be done (except maybe Jim Rogers). The representatives risked their own re-election for the good of the public. Maybe it is a conspiracy that both candidates supported the bill and other countries are doing the same thing. Or maybe the average person does not understand our economic system. You decide. BTW I think they are getting ownership of the banks directly instead of buying debt instruments.

Buffett has been for raising the capital gains tax and I think Obama also. That is where he makes most of his money. The other way to get money out of stocks is dividends which is taxed as income. Of course you are not taxed until you sell a stock, but if you don't sell it you never get any money do you?

Business can deduct their expenses. So money used for growth is not included in "income" and is not taxed as your post would imply.

Smart people will profit from whatever the government does. I can understand disagreeing with their ideology, but suggesting that liberal multi-billionaires support raising taxes for their own FINANCIAL benefit seems a little far fetched.

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