Warren’s pockets are deep. Don’t fuck with him.
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Um, no, actually.
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What are you saying no to?
Bitch slapping GOP or not to fuck with him and why?
His contribution was only $49k. That isn’t going to fix shit.
And its trivial for him. Completely trivial. Thats the equivalent of a surgeon donating 18 cents. I’ve spent that much in Vegas in a weekend. Lame.
He didn’t send the money and won’t until at least next year.
Read more carefully.
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What a disappointment this man has become. He was an early hero for me.
huh?
as my grandpa said – money talks, bullshit walks.
or as the chinese say “Talk doesn’t cook rice.”
iow – Warrens money cooks the rice baby!
8)
Great move. Heroic.
True. But maybe the GOP secretly scrounges up $40 billion, his contributions do nothing, and we can show why over taxing the rich has limits once and for all?
Buffett is a damn fool. We could raise taxes on the rich, those making over 250K/Year to 99% of income, and it would not fix the mess we are in.
That old fart has gotten senile OR, which is more likely, continues to profit hugely from the Obama subsidies, specifically to wind and solar. Of course he is in the Obama camp when Obama’s policies award him with hundreds of millions of dollars.
We have a spending problem, not a taxing problem. But for Buffett, reducing spending will reduce his damn subsidies to wind and solar, which he is currently using to reduce his tax burden. Look it up.
http://reason.com/archives/2010/12/05/how-to-balance-the-budget-with
Always be wary of the man who advocates everyone play by a stricter set of rules than the ones he beat the game with.
Crony Capitalism. Buffet was an early supporter.
Who wouldn’t take advantage of such an easily purchasable barrier to entry?
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$49K is like a nickel or a dime to Buffet. You can’t buy press coverage like that for so cheap a price.
all tax deductible as a charitable donation most likely, making the net amount paid down as zero.
“Warren Buffett will be writing a check made out to the United States Treasury for just over $49,000 to help pay down the national debt.”
This makes no sense from an operational standpoint. It’s the treasury. They aren’t going to take that check and say “oh look lets pay govt worker X with this!”. They press a button and pay govt worker X instead.
Both sides have it wrong. It’s not a taxing problem. It’s not a spending problem in the sense the US will run out of money. Its a spending efficiently problem. But right now, there is so much excess capacity, non-efficient spending doesn’t hurt the economy in an inflationary sense. And what good will “paying down the national debt” do anyway? Swap reserves for treasuries? Oh we’re saved! We bought all the existing treasuries in the world and replaced them with reserves! See how stupid that sounds?
What happens when debt needs to be refinanced?
It’s all good until it’s not, no?
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Then the govt issues new treasuries. The previous holders have a choice. Let their cash sit after getting the par value back, or accept treasuries and a higher rate of interest. Treasuries are a savings instrument. When the treasury comes due it is not like the person will just go and spend the cash received willy nilly. They want to continue to save. Also, most of the treasury bonds are sitting in banks anyway. When the bonds come due there is now excess reserves, the treasury issues new bonds and the banks exchange reserves for treasuries. You need to think of reserves (or cash) and treasuries as interchangeable. Swapping one for the other doesn’t really affect anything, only the interest rate being paid.