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kraft-t
Senior Advisor

Buffet

Blame congress for Romney's 15% tax rate, not Romney. Sounds good as far as it goes. Unlike Buffet,  Romney seeks to make his tax rate even lower. Perhaps to zero.

 

Somehow the eletists in our society think their investment in our economy is a favorable to someone who invests his time and labor. Therefore he should get preferential tax treatment.

 

I know who my investment benefits.  Not the country or the economy. ME!

6 Replies
r3020
Senior Advisor

Re: Buffet

And when your investments will not benefit you, you will not invest.

kraft-t
Senior Advisor

Re: Buffet

Correct!  But don't pretend that investors are job creators because that is the last thing that is on their mind. The reason they hire labor is to get the work done. Period!

 

They aren't super patriots that are creating jobs for the benefit of their fellow man. If they make a buck tax them like everyone else and don't assume they have some sainted position above us.

r3020
Senior Advisor

Re: Buffet

It's not that investor create jobs, it's that investor's capital is needed to create jobs.

GoredHusker
Senior Contributor

Re: Buffet

The only reason Buffett wants investment income taxed as ordinary income is so that he can write off losses dollar per dollar rather than the measely 3000 bucks per year.  If Buffett was as warm and gentle as he lets on, Berkshire Hathaway and the IRS wouldn't be butting heads over taxes owed but not paid. 

kraft-t
Senior Advisor

Re: Buffet

I have nothing against rewarding job creators. I just don't want to reward investors that don't create jobs.

 

The idea that giving lower tax rates to investors because they create jobs is nonsense. Most investors would rather export jobs or eliminate them so their stock is worth more.

kraft-t
Senior Advisor

Re: Buffet

I suggest that berkshre hathway declares capital losses against capital gains in other investments.