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.
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.”
This irks me. Why don't these folks start a voluntary deficit reduction fund and contribute a billion, or two. Oh, that's right, their really trying to indoctrinate our young people, not solve the problem.
only the stupid, lazy, and middle class pay taxes
I was under the impression that soldiers in a forward area do not pay taxes.
They don't. Buffet is evidently unaware of this.
Half the rate is not half the taxes.
"Both Buffett and Gates said that they should pay more in taxes"
Go for it. I'm not stopping either of them and neither is anyone else. All talk and no action. Typical. But to say they pay "less tax" than foks in Iraq is just a disingenuous attempt to get taxes raised on the wealthy.
I think you are right about that.
That's true, they do not pay Federal taxes while in the combat tax exclusion zone. SS/FICA continues though.
But if you ask for a slice you'll find they're giving none away...away....away....away
The current tax code (NOT tax rates) benefits the rich. The code needs to be simplified to the point where everyone pays and there's no need to have to have an entire firm of tax accountants to shelter your wealth.
We don't pay taxes. Only the little people pay taxes. --
Leona Helmsley
"Why don't these folks start a voluntary deficit reduction fund and contribute a billion, or two"
That would be ok. I'd be happy if they just spent or invested their savings (which I am sure they do). That investing is what adds capital to the markets and allows the economy to grow...create jobs...increase earnings...and eventually bring in higher tax revenues (because of higher business/individual earnings, and not from higher rates). I'd rather have dork billionaires like Gates and Buffett invest the dollars than the U.S. government.
Yes, I do wish I was a dork billionaire.
Very beautiful and it's simply what sets America apart from the world. Unfortunately, most Americans have never lived elsewhere and they don't have a clue just how beautiful that sentence is.
What a load of %$&*! Both Gates and Buffett do NOT have to opt for every allowable deduction. They don't have to deduct charitable donations, etc.
They said they pay lower RATES on their income...not
lower taxes. Opener makes it sound like the kid in the military pays more than they do. The rest of us don't
give the huge amounts to charities that these guys do,
either. Their donations knock down their rate. The
reason Buffet and everyone else paid more taxes "years ago" is because the Dems wanted to tax everything possible to fatten their special programs. I'm no billionaire, but
I'm paying a lot less now, too. And I appreciate it!
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