Posted on 10/11/2005 6:56:11 AM PDT by stevestras
The appearance of Bill Gates and Warren Buffett at the Lied Center last week was a reminder of the fluidity in American society that allows talent and drive — not birthright and connection — to earn power and wealth.
Although both men came from comfortable backgrounds, neither was born to that old wealth stratum of American society that sometimes seems to be tantamount to an aristocracy.
Dressed casually, they sat on a couple of stools, cracking jokes, speaking plainly, fielding unscripted questions. “They seemed like ordinary people, very normal, very knowledgeable and funny,” observed Yong Zhao, a University of Nebraska-Lincoln graduate student from China.
Their appearance is an example of the sort of inspiring, indelible personal experiences that are an important part of a university education. This sort of special event — even last year’s entertaining visit by rocker Tommy Lee fits the category — is part of a full and varied campus life.
The audience of 1,800 was UNL business students. The appearance will be shared with all Nebraskans next year on NET.
Their comments veered widely from the humorous — Gates admitted that colleagues at Microsoft blow him away when he plays video games like Halo 2 — to the profound — Buffett defined success as being loved by the people you hope love you.
If any students came to the session with a preconception that all the nation’s rich and powerful share the same low-tax political philosophy, they went away with a different impression.
Both Buffett and Gates said that they should pay more in taxes. “The rich should bear a somewhat higher proportion than they are now,” Gates said.
“I’m paying less than half of what I was paying years ago when I was making a lot less,” Buffett said. “There are people fighting in Iraq paying higher rates than mine.”
Perhaps most encouraging was the belief expressed by both billionaires that everyone can help make the world a better place.
Gates suggested that students gain an exposure to living conditions in other places. “Things are improving and there are places for people to jump in.” Buffett told one student that she — and by extension every individual — changes the world every day by the way she behaves around other people.
At a time when American society seems rife with cronyism and Enron-style corruption at high levels, the comments from the two icons of business success, delivered in a relaxed, ordinary, disarming style, provided reassurance that basic American ideals endure — that merit, hard work, optimism and decency can prevail.
You think these two don't have gaggles of lawyers and accountants seeking every loop hole in the tax codes? Hypocrits.
Warren, Bill do you guys have accountants? Fire them. Fire the financial advisors. Move your loot out of the shelters and into a money market. Use the short form this April.
Problems solved you pair of phoney bastards.
And is the Lied Center the real name of the place or is the writer being ironic?
People like them employ several millions of people and drive a good percentage of the economy. As much as it disturbs me I had rather give them a tax break than have to ultra wealthy stop investing. If they did watch our economy tank or be taken over by off-shore investors and make us more dependent on foreigners than we are now.
The Gates Foundation writes checks in the amount of approximately 14 million dollars per week. Thousands of schools benefit directly from Bill Gates. That's how you get your percentage rate down. There is an enormous flow of money from the wealthy but because they earn so much, they don't feel it. Then, the dems and the media guilt trip them into thinking they should be doing more - and maybe they should, but not by paying more taxes into the the government pork barrel. Foundations and grants are a much better way.
So you think that the fact "people fighting in Iraq [are] paying higher rates" is good, but when the billionaire complains about it is bad? And that those who do not approve it should make voluntary tax contribution but those who like it should keep the advantage?
No one in a "Combat Zone" pays taxes.
So you think that flat tax would be very unjust? Would you like the poll tax instead?
Although your comment wasn't directed at me, I'll chime in anyway. I find it objectionable, because for Buffett and Gates, the solution, unspoken here, is to levy punishing taxes throughout the populace and all the way up the income scale to finance various state-sponsored schemes. They're personally far beyond caring, themselves.
Their real issue isn't the inefficiency or irregularity of the tax code that lets their clever accountants achieve a lower rate, but their desire to increase the level of government involvement throughout the economy.
It depends how you define taxes. It is amusing to see whan the federal income tax is being compared with the total tax in Sweden (which includes dividends, social security, local etc). Sweden's federal tax is ZERO :)
If you say so. Send me your address and I'll forward my tax bill.
I'll bet they pay an entire regiment of lawyers to keep it that way too.
Both of these men are donating a higher percentage of their income to charity than 99% of the people in this country.
Their investing and capital outlay employs hundreds of thousands of other americans who can then also pay taxes.
I have no animosity towards either of them (or the Walton family for that matter).
the more they make, the more people that are employed and more unfortunate people get some sort of charitible assistance..
Unbelievable that someone can find fault with this..
There should be no income tax at all.
Your mantra is "soak the rich" I know.
But soaking the rich is not only immoral, it has horrible practical consequences as well.
Another reason to eliminate the IRS & repeal the federal income tax. Buffet and his ilk would pay more taxes from his restaurant meals alone than he's paying now if we went to a national sales tax. Go to a ten percent national sales tax on EVERYTHING...yes even real estate and groceries.
When it comes to taxes, these two are idiots.
Huh? The point of my statement was that the headline was misleading. The writer makes it sound as if Buffett were paying fewer tax dollars than a soldier in Iraq. What Buffett really said was that he is paying less as a percentage of his total income. I expressed no opinion about graduated tax rates vis a vis a flat tax.
Since you ask, however, I prefer the Fair Tax.
However, I must say that military pay ought to be exempt from all Federal taxes -- especially pay for military personnel in combat.
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