Not when you understand that this is the political mentality of your average democrat:
Posted on 08/22/2008 8:43:47 AM PDT by Hadean
Buried in that 8,000 (!) word NYT magazine article about Obama's economic plan that I mentioned yesterday, is this bit flagged by Geraghty at Campaign Spot:
“If you talk to Warren [Buffet], he’ll tell you his preference is not to meddle in the economy at all — let the market work, however way it’s going to work, and then just tax the heck out of people at the end and just redistribute it,” Obama said. “That way you’re not impeding efficiency, and you’re achieving equity on the back end.” He continued by saying that he thought there was some merit in Buffett’s argument.
To which, Geraghty responds: "Isn't it reassuring to have a presidential candidate saying he sees some merit in 'taxing the heck' out of something?" Indeed. Expect the McCain camp to start running "Just tax the heck out of people" ads very soon.
This has the potential to be as devastating as Fritz Mondale's 1984 pledge, "I'll raise your taxes..."
Oh, therefore Buffett gets to have his fun and then only pays the piper once he’s ready to get out.
I don’t know who’s the bigger jerk sometimes.
Obama continues to give wonderful ad material for McCain to use against him, and all the quotes can come right from Obama’s own mouth!
As if people don’t behave differently if they know you’re going to tax the heck out of them?! Stupid beyond words (how did Buffet get so rich?)
susie
No surprise here. Remember Hillary promising that “we will be taking things away from you......”
But that by itself impedes efficiency. If investors (and that means everyone from Buffet down to grandma with a couple of thousand dollars in bonds) know that their gains and income will be "taxed the heck out of", they are less likely to invest and more likely to just try to hold onto their money. That reduces the capital in the US market and the amount of money available to start or to grow businesses. They will also try to find expensive ways to avoid taxes, similar to people buying life insurance from Buffet's companies to try to minimize estate taxes.
The premise completely ignores the “WarGames” lesson though: “interesting game ... the only winning move is not to play.” Obama will drive it all offshore.
Don’t you just love it when the fabulously wealthy advocate higher taxes? Reality is they can pay a ridiculous tax load and it will still have zero effect on their lifestyle. Not at all true for the other 99.9% of us.
MM
Newsflash, Barack and Warren......when you "tax the heck" out of the economy, the market doesn't work the way you think it will.
By paying the least amount of taxes that he could.
Mr. Buffett also told CNBC this morning that taxing oil profits doesn’t make any sense.
God for him. Bad for Mr. Obama who thinks God IS government.
Mr. Buffett also told CNBC this morning that taxing oil profits doesn’t make any sense.
Good for him. Bad for Mr. Obama who thinks God IS government.
You were 21 seconds faster and had more detail. That’s some great typing!
I’m sure. But, did he fail economics 101?
susie
IMO, Obama was toast when he said that determining when life begins is above his pay grade. Now we are just beating a dead horse. (Not that it isn’t fun, though.)
Oh really? That's like peeing your pants just to keep your butt warm. It only works once for a short time and ultimately, you're far worse off.
GOLD!
He doesn't pay the piper. All his money is in trusts structured to be tax free.
Paying taxes is for the suckers who can't afford to employ a team of tax advisers.
Yeah. Saddle me with a 90% marginal tax rate. That won’t effect the economy, it’ll just keep humming along.
WHAT A FRICKING MORON.
I’m reminded of the stupid Congressional Budget Office that projected year-on-year revenues resulting from 100% taxation. And just in case you were wondering, the revenues to the government went up after the first year the government started to confiscate 100%.
I wish there was audio for this. It would be great on YouTube
So, let the little people work until they create something of value - then the Powerful take it away from them and use the profits as they see fit...
I thought we outlawed slavery after the Civil War.
Wasn't Mondale also picked up on a mic during Kerry's 2004 campaign saying something like, "We're gonna tax their @sses off!"
At the time, Mondale seemed to think the dems were going to win big (but then, the dems always seem to think that, no matter what's going on (part of their overall denial of reality).
OMG
This is insane!
Don’t these folks realize that if you raise taxes on business the business raise their prices to cover the input cost. The consumers PAY all the taxes!
Business become tax collectors for the government.
You will go out of business if your prices are too high because the customer won’t buy your products or use your services (unless mandated by the government, of course).
Ooooopssss
Is that the same Warren Buffet who has gone to Congress all his life looking for favors? His daddy was a politician. He knows how it works.
If your right, where are all the “wonderful” McCain ads?
BUMP!
What was that about houses yesterday? Oh, nevermind.
“If you talk to Warren [Buffet], he’ll tell you his preference is not to meddle in the economy at all — let the market work, however way it’s going to work, and then just tax the heck out of people at the end and just redistribute it,” Obama said. “That way you’re not impeding efficiency, and you’re achieving equity on the back end.” He continued by saying that he thought there was some merit in Buffett’s argument.
To which, Geraghty responds: "Isn't it reassuring to have a presidential candidate saying he sees some merit in 'taxing the heck' out of something?" Indeed. Expect the McCain camp to start running "Just tax the heck out of people" ads very soon.
Wow.
Sweet! Keep up the good work,Hussein!!
And the rank and file dhimmirat voter says:
“I support Hillary....I don’t like socialism”
“I support Obama....I don’t support infanticide”
“Socialism is what the Soviet Union had, DemocRats don’t support that!”
I continue to be astonished. It is so unbelievable to me that any intelligent or attentive people will entertain the possibility of such a stated Marxist belief and desire to elect such a person ...
IN A REPUBLIC form of government
or really any form as far as I'm concerned..
As much as I am against Hillary and her policies ...
Obama is far more dangerous and actually a greater threat to this nation/country.
Balderdash!
My take is that he doesn’t just not understand economics, HE DOESN’T CARE.
It’s all about the end goals of “fairness” and “equality” AS HE DEFINES them.
Read “Road to Serfdom” for an explanation of and the inevitable results of this mentality.
Socialism is slavery.
There is no other way it can turn out but to have the worst sort of individuals with complete power over every aspect of your life.
Yeah, let’s take ALL the INCENTIVE out of hard work and enterprise.
That’s how they do it in socialist countries and...
“What?”
“We already ARE?”
“NEVER MIND”
Warren Buffett may be rich, but he’s still an a-hole.
This jerk thinks estate taxes are wonderful.
Of course that’s after he has protected his $ 46 billion fortune in charitable trusts adminstered by his kids. Thus, his estate will pass tax-free.
Like I said—he’s an a-hole.
They don’t pay attention. They are willfully ignorant.
It is the only way they can maintain their support for democrats without admitting that they support the worst parts of the ideology.
I think you’re right on the money.
susie
Oh, it’s not just that he’s insulated from the effects of the estate tax,
he makes money off of people setting up their estates to avoid estate taxes.
The higher taxes that Obama demands of Americans are ‘Above my Pay Grade’.
So let’s see - the message is: “Go ahead and work your butts off, because at the end of the day, your butts are mine.”
Yep - that’ll sell.
To be fair, Obammy didn’t say it was his policy, he was quoting what Buffet said. Just because he sees some merit doesn’t mean much.
I wish I had your confidence - and that it was justified. Yes, he proved that the White House is above his pay grade and will be for many years, but that may not worry voters who see a chance for 'hope' and 'change'.
Obama is not yet toast. It's only his ideas that are half-baked. This election is not over until all the votes are counted, the pregnant and dimpled chads evaluated, and the appeals routed through the state and federal courts to determine whether we can change the rules after the election to fix an outcome that could only have come from cheating - a charge proven by the Republicans getting more votes that are counted.
If you don't believe it's not over, then for reference, I would suggest reviewing Glenn Close's actions near the end of "Fatal Attraction". Michael Douglas finally subdues her, we see the body under water in the tub, and ...
If you don't believe it's not over, then for reference, I would suggest reviewing the hero's victory over Jason near the end of any of the "Friday the 13th" movies ...
If you don't believe it's not over, then for reference, I would suggest any other suspense or horror movie, or some from another genre. We all know that moment of relief in a movie when we realize that continuing to worry about Obama, Freddy Kruger, Jason I-VI, Glenn Close, Clinton I, the Bride of Clinton, Clinton III (in 20 years), the Mummy, Dracula, or Dr. Evil is simply "beating a dead horse" ... and we know what is sure to follow a moment after that sense of relief.
I won't believe that we're safe until Obama's concession speech - if we get that lucky - or the inauguration.
Not when you understand that this is the political mentality of your average democrat:
Ears that do not hear
Eyes that do not see
Still they are staunch liberals.
Sounds good?
Sounds bad.
Broad is the road that leads to destruction.
We are to love our enemies including them that will not see.
I find it difficult at times.
It took me awhile to realize that politics and Christianity do not mix in this world.
Heh heh.
What Buffet prescribed for Obama is no different than out and out thievery. Or robbery. Government approved robbery.
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