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 ...
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!
Warren Buffett is not a capitalist, he is a corporatist.
Big business, with some notable exceptions, has become an enemy of capitalism.
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
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.