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Obama's business brain trust (also see McCain's. Old news, but relevant today)
CNN Money ^ | July 28 2008

Posted on 10/01/2008 3:00:41 AM PDT by paudio

Warren Buffett

Obama is frequently on the phone with billionaire CEO Warren Buffett: "One of my favorite people," says Obama, "he's just completely down-to-earth and as smart as they come."

Buffett is a critic of the financial industry and of tax breaks for the rich - and he also happens to understand capital markets better than just about anyone.

Austan Goolsbee, Economist, University of Chicago

"A University of Chicago economist who rejects supply-side tax theory, Goolsbee has been Obama's go-to guy on economics from the beginning - and is behind proposals to raise taxes on business and investment. He would increase the 15% capital gains tax rate - probably to 25% though he excludes small businesses and new ventures from the tax altogether. In addition, he would raise the dividends tax, reinstate a 45% tax on estates worth more than $3.5 million, and close $1.3 trillion in "corporate tax loopholes."

Goolsbee has studied behavioral response to economic policies and does not fully buy into the Republican argument that lower tax rates end up generating more revenue than they lose (by spurring investment). He notes that Obama wants to go back to the rates of the 1990s, when the economy was booming. Instead, he believes the tax code should be used to ease financial pressures on the middle class."

(Excerpt) Read more at money.cnn.com ...


TOPICS: Business/Economy; Extended News; Politics/Elections
KEYWORDS: 2008; advisor; buffett; economics; mccain; obama
For the rest, see 0bama's business braint trust

Also see McCain's economic gurus

1 posted on 10/01/2008 3:00:41 AM PDT by paudio
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To: paudio
Buffett is a critic of the financial industry and of tax breaks for the rich

Buffett is your typical LYING, DECEITFUL, RAT FRAUD! Absolutely nothing has ever prevented old Warren from writing a fat check out to the United States Treasury, for all the money he believes he is UNFAIRLY keeping by getting all those "taxes breaks for the rich".

"Well I believe it's wrong but won't act on what I believe unless a law is passed making me do it" LYING FRAUD!

2 posted on 10/01/2008 3:37:25 AM PDT by AmericaUnited
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To: paudio

Warren Buffett is not a capitalist, he is a corporatist.

Big business, with some notable exceptions, has become an enemy of capitalism.


3 posted on 10/01/2008 3:52:13 AM PDT by oblomov
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To: oblomov
Warren probably gas never paid any taxes.

He is a buyer of companies therefore no Cap gains taxes

He never pays a dividend again no income taxes

Loves paying taxes thats why he giving his money away when he dies to Foundations not to the Government

4 posted on 10/01/2008 4:15:16 AM PDT by scooby321 (Cai)
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To: paudio
Anyone that buys into the “tax the rich” income redistribution scheme of Nobama should be forced to quit their jobs and work for a poor person for a year. - Loosely quoted from Rush Limbaugh.
There are several universal truths running counter to Nobama’s tax and spend empire building scheme.
Government never creates wealth, no matter how you sugar coat it, it sucks the life off of hard working people.
Corporations don't pay taxes, period. Every penny the government takes from corporations is passed right along to the consumer and the shareholder.
Americans are being shafted continuously when trying to compete in global markets because we have to foot the bill for enormous government regulations. If we are successful, we have to factor in the hoards of trial lawyers waiting to impose their unique form of wealth redistribution.
Finally, the majority of the “Rich” that Nobama seeks to steal from are small business owners that are going to either fold or have to cut back jobs to pay for this foolishness. Exempting startups from the tax hike, is also folly. 95% of startups don't make a profit already, most of them fail.
How about a really radical idea Obama? Why not cut the size of government, say in half, and let the private sector do what they do best. Create wealth. I know it's not a popular idea because it doesn't reward your biggest constituency, the lazy and non productive, but hey, you still have those trial lawyers..
5 posted on 10/01/2008 4:53:58 AM PDT by bitterohiogunclinger
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