"then just tax the heck out of people at the end and just redistribute it,” Obama said."
Posted on 10/19/2008 1:28:10 PM PDT by ari-freedom
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.
(Excerpt) Read more at audacityofhypocrisy.com ...
"then just tax the heck out of people at the end and just redistribute it,” Obama said."
That's the problem with taking things out of context.
This gives obama a bit of an out, but still, he did say there was some merit to Buffet's argument. What part of the argument has merit?
I don’t know how much plainer you can be. The supporters of Obama will find out soon enough he has no intention of redistributing the wealth to them. It will be redistributed to his friends and especially Islam.
See Post 34.
Warren Buffet does not pay a single dollar in Federal taxes on the billions of dollars of WEALTH he has already accumulated.
It is those who have Joe the Plumber's dream of having $300,000 in INCOME that will be taxed.
INCOME, not WEALTH is taxed by the Federal Government.
As long as Joe the Plumber is taxed to the max on his INCOME, Warren Buffet's billions of dollars in WEALTH will remain untaxed the the Federal budget each year.
It is an unholy alliance between the socialism and an oligarchy ...... Just like Communism is an unholy alliance between socialism and the Communist Party oligarchy.
I guess Buffet never heard of the Laffer Curve!
the other story is that they will pay the tax in the form of higher inflation and unemployment.
And we all know what Obama will do as soon as he’s in office: “due to unforeseen circumstances, the fiscal situation is worse than anticipated. We must make tough decisions for the good of the country. Everyone must share the burden. It is our patriotic duty as Americans. We can no longer afford the tax cuts I talked about. Taxes must go up for anyone making 42,000 a year.”
Just like Clinton in 93.
They will always have Lear jets and limos — while you and I will be expected to risk life and limb in crowded subways or riding bicycles.
******
Warren Buffett’s name is synonmous with Wall Street and big business, but his political views are closer to socialism than free-market capitalism.
Buffett is a registered Democrat.
His activism for Democrat and far-left causes is well known:
He has called for unilateral nuclear disarmament and has donated heavily to this cause.
He actively backed Hillary Clinton's bid for the U.S. Senate and helped her raise money.
In May, Buffett wrote an op-ed piece in the Washington Post criticizing President Bush’s proposed cut in the dividend tax as a change that would benefit the rich.
Forbes' prediction came true Friday, when Buffett told the Wall Street Journal that property taxes in California are too low and suggested that Prop. 13 ought to be undone.
Buffett cited the inequity of property taxes he pays on his homes in Omaha, Neb., and Laguna Beach, Calif., and said the California cap on property taxes imposed by Prop. 13 "makes no sense."
In providing financial support to Hillary Clinton, he said he felt in sync with her pro-abortion views and her support of campaign finance "reform."
******
He was an adviser to Schwarzenegger in California. How is that state's financial problems working out?!
yes he is very very pro abortion.
BTW, IF WARREN BUFFETT THINKS HE IS PAYING TOO LITTLE IN TAXES HE CAN START PAYING MORE. WHO IS STOPPING HIM?!
He could start by firing all his attorneys who are sheltering his wealth from taxation!
Yup. They can take the hit after using every loophole that the Dems originally created and at the same time knock down by a few notches current up-and- comers that would challenge their spot on the top of the mountain.
Excellent.
And this must be the reason so many superrich are Democrats - because their rat buddies protect their wealth by taxing the little people's income. Leona Helmsley was right.
Yes, but sometime - and especially when i see the same thing happening here in Europe - I think we are reverting to the 1750's or so. Politicians, the media and business elite make up the new nobility - the new privileged classes.
At the end of what? The end of the market? Doesn't the market essentially run 24/7/365? At the end of the economy? Does the economy have a beginning and an end? At the end of the year? The end of the week?
I don't care how much money Warren Buffet has made this is so stupid any kid that has run a lemonade stand would scoff at it.
"Look, kid, this is how it works. We will wait until you have sold all of your lemonade and then take half of the money. You'll still have half the money you made, which is more than you started with, so you should be happy. We will give the other half to all the kids who stayed inside playing video games. You don't want them to feel bad because you have a big pile of money and they don't do you?" - 0bama
Obama forgot to mention that there would be a skim for the democrats.
I don’t think people like Buffet pay INCOME taxes. They don’t earn an income. The money they make is the result of investments, so they pay Capitol Gains taxes.
Gates, his software is crap.
Jack Welch, many middle aged white guys on Prozac because of his "Rack-um-Stack-um" performance reviews.
Buffett is a vulture who used the Death Tax as a stepping stone.
If this is what he is using as his brain trust, I'll take the brain of "Abbey Normal" in "Young Frankenstein"....
Choose NOT to let that happen. See http://www.freerepublic.com/focus/f-bloggers/2107676/posts and skip down to the heading "If Obama bin Biden should win the election"
No way did Obama get $150 mil fundraising last month from small donors or at max $2,300. They have to be foreign donors. I thought we were all poor and out of hope. Apparently not.
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