Warren Buffett On GOP Tax Cuts & Consequences

[mark kennedy]

I thought this interview was insightful, curious what the regulars on here think of it.

He says do I look like someone who deserves a cut, the candor is staggering.

Your thoughts...

 

[Dawnhammer]

At least someone who is rich didn’t lie that he or his friends would be losing money over this new tax plan.

Integrity - shame you won’t see that at the White House.

 

[GoldenBoy89]

Trump is fighting the good fight sticking up for the underprivileged billionaires in our country. Lord knows they deserve a break.

 

[OldWiseGuy]

I thought this interview was insightful, curious what the regulars on here think of it.

He says do I look like someone who deserves a cut, the candor is staggering.

Your thoughts...

Expand on his (abbreviated) statement, "Until you sell it........" (minute 6:52, part 2), and see where it takes you. People get their undies in a wad when they conflate wealth and income.

 

[Terminal_Marxicity]

Nothing is stopping him from rejecting said cuts.

Truth is, billionaires like him skate on loopholes and havens and deductions that only 7 figure a year accountants (former IRS employees) know about (because they wrote or enforced the laws) while advocating for a tax structure that ensnares millionaires and aspiring millionaires so they can never get big enough to compete with the Rothchilds', Soros' Buffets', Gates', Rockefellars', Bezos', etc.

 

[OldWiseGuy]

Nothing is stopping him from rejecting said cuts.

Truth is, billionaires like him skate on loopholes and havens and deductions that only 7 figure a year accountants (former IRS employees) know about (because they wrote or enforced the laws) while advocating for a tax structure that ensnares millionaires and aspiring millionaires so they can never get big enough to compete with the Rothchilds', Soros' Buffets', Gates', Rockefellars', Bezos', etc.

As he said 99 percent of his wealth is in BH stock, tucked away in a safety deposit box. It's "paper wealth" until he sells it and converts it to cash. Until then it doesn't affect the economy at all except to the extent that his recent stock purchases enable BH to enhance their business or pay their employees more.

 

[cow451]

The GOP just began pillaging the Middle Class. Attention Poor Folks: you’re next (Welfare Reform).

 

[FenderTL5]

The GOP just began pillaging the Middle Class. Attention Poor Folks: you’re next (Welfare Reform).

..and the elders and disabled.(social security, Medicare/Medicaid.)

 

[Belk]

..and the elders and disabled.(social security, Medicare/Medicaid.)

And those who wish to adopt.
And those who have high medical bills.
And those who want to buy a home.
And those who want a small business.

I will say one thing about this year. It has been interesting watching some divest themselves of the sheep's clothing of moral authority they have claimed over the years.

 

[Terminal_Marxicity]

The GOP just began pillaging the Middle Class. Attention Poor Folks: you’re next (Welfare Reform).

Because the dems care soooo much about the Middle Class.

 

[cow451]

..and the elders and disabled.(social security, Medicare/Medicaid.)

Third wave.

 

[cow451]

Because the dems care soooo much about the Middle Class.

They won’t have to worry about the Middle Class much longer.

 

[OldWiseGuy]

The GOP just began pillaging the Middle Class. Attention Poor Folks: you’re next (Welfare Reform).

I'm middle class and I made out like a "fat rat in a cheese factory".

 

[mark kennedy]

I thought it was interesting that he thought single payer would straighten out a lot of problems in our health care costs.

 

[FenderTL5]

I thought it was interesting that he thought single payer would straighten out a lot of problems in our health care costs.

Interesting in what way?

I would tend to think that he recognizes that a for-profit, big-ticket item, like healthcare in the USA is, by design, a luxury item for the wealthy.
Insurance is merely the finance plan for the rest of us.

 

[mark kennedy]

Interesting in what way?

I would tend to think that he recognizes that a for-profit, big-ticket item, like healthcare in the USA is, by design, a luxury item for the wealthy.
Insurance is merely the finance plan for the rest of us.

That's the last thing I would have expected him to say, and he says he believes it would help to get health care costs down. I've been rather skeptical that single payer is a viable solution, it was interesting that someone who knows how high finance works thinks it has it's merits.

 

[FenderTL5]

That's the last thing I would have expected him to say, and he says he believes it would help to get health care costs down. I've been rather skeptical that single payer is a viable solution, it was interesting that someone who knows how high finance works thinks it has it's merits.

For me, as I see it (yes that redundancy was intentional), the fundamental principle in the debate divide is this: should healthcare be 'for-profit'?

[mini, non angry, run-on sentence rant..]
I don't think anyone begrudges payment to caretakers, even a decent living. But when it becomes corporate, with fiduciary responsibility to maximize returns for share-holders.. many expecting 20%+ ROI year after year at every stage of the game from the hands on doctors and nurses, to the hospital groups/facilities, to insurance, to medical equipment, and pharmaceuticals..etc.. that the prices are much higher in the USA is no mystery.
[rant/]
Does single-payer government solve all the of the problems.. not likely. Would it be better than what we have? Look at those places that have tried it.

 

[cow451]

I'm middle class and I made out like a "fat rat in a cheese factory".

You must be using Obama’s Time Portal given the bill hasn’t been signed yet.

 

[cow451]

I thought it was interesting that he thought single payer would straighten out a lot of problems in our health care costs.

He who?

 

[OldWiseGuy]

Single payer, or national healthcare, would break the bank as it would be a license to neglect one's health even more than we do now. Abortion, gender reassignment, etc. would be declared "medically necessary" procedures by a liberal government while 'death panels' would assign older patients to hospice care.