No wonder the Democrats are so pathetic

[wauwinet]

In a single Op-Ed piece, Warren Buffett presents a clear, fact based and compelling version of the message the DNC has been fumbling to get out for 3 years. They really should fire their communications people and offer Buffett a position.

http://www.nytimes.com/2011/08/15/op...uper-rich.html

[Glenn W]

In a single Op-Ed piece, Warren Buffett presents a clear, fact based and compelling version of the message the DNC has been fumbling to get out for 3 years. They really should fire their communications people and offer Buffett a position.

http://www.nytimes.com/2011/08/15/op...uper-rich.html

I'm confused with your statement at best----- although I agree that the Dem's have been doing a poor job in stating their case for for the need for additional tax revenue from ultra high income earners, this is in stark contrast to the Republicans that will not take their heads out of the sand to admit that the only realistic solution to our financial woes to to reduce spending AND increase revenues. Considering the reality of the low effective tax rates paid by ultra high income earners, part of the revenue solution is obvious. In fact, all members of Congress are well aware of the low tax rates enjoyed by the priveleged few but the likes of Cantor and other Republican members insist on maintaining the ridiculous tax breaks these individuals receive.
IMO Buffet provided a clear and convincing case for the need to eliminate the tax breaks realized only by those with the greatest ability to pay taxes in a fair and equitale manner.

[wauwinet]

I guess I was trying to be ironic.

The Democrats have failed miserably at getting the message to most Americans that one of the main reasons we are in financial straits is that we have been borrowing money from china in order to lower tax rates on about 10,000 families who make more in a year than most Americans do in their lives.

Buffett, who is ironically one of these 10,000 Americans, uses clear facts and figures and shows what a rogering the middle class has taken over the past 12 years.

If the democrats had half the writing skills of Warren Buffett, most Americans wouldn't think the president is trying to raise their taxes.

[Glenn W]

I guess I was trying to be ironic.

The Democrats have failed miserably at getting the message to most Americans that one of the main reasons we are in financial straits is that we have been borrowing money from china in order to lower tax rates on about 10,000 families who make more in a year than most Americans do in their lives.

Buffett, who is ironically one of these 10,000 Americans, uses clear facts and figures and shows what a rogering the middle class has taken over the past 12 years.

If the democrats had half the writing skills of Warren Buffett, most Americans wouldn't think the president is trying to raise their taxes.

I agree.

[clt_capt]

The mega rich need to do their part, but it ain't nearly enough...

Using Buffet's own numbers - if he paid 33% instead of the 15% he claims, AND assuming the rest of the 10,000 Wealthiest did roughly the same, it would only contribute about 12 Billion additional Revenue

It is a good start, But if you add to it the folks that aren't paying taxes today - roughly 50Million above the poverty line - and they pay just 5% - there is another 75 Billion a year...

Again a pretty good start - but now lets really tackle spending - Why are we paying foreign aid? If the Pakkies want to show the Chinese our helicopters, why should we give them nearly 4 Billion? That's just a start...

I ain't in congress, but the 3 above moves are roughly $90 Billion a year that we wouldn't be borrowing from the Chinese...

[Glenn W]

I agree Fred. The mandated joint bi-partisan committee that must find a way to reduce an additional $1.5 trillion (?) in spending will have some tough decisions to make. The day's of the U.S. spending like a Jewish Princess with a Gold Card on Rodeo Drive are over. I can only hope that Congress realizes that the United States Government's first duty is to its own citizens. This being said, there will have to also be dramatic cuts in domestic handouts and pork barrel programs as well as cuts in defense spending.
Don't get me wrong, the US needs the World's strongest military, but I think most rational people acknowledge we have gone spending crazy with our military at least with respect to the 3 military actions we are currently involved with. I recently read an interesting statistic: The U.S. Navy currently has vessel tonnage that is greater than the next 17 Navy's of the World combined--- not counting at least two more Carriers under contract.
On the revenue side, you are also correct. We hear the constant bickering regarding the leaches in our society that receive handouts. Well, the reality is, there will always be such leaches and when people can accept that fact, efforts can be focused on ideas to effectively cut costs ( real dollars not just penny's to spite prinicples). The very first meaninful gain in revenues would be a significant reduction (if not total elimination) of Earned Income Tax credits--- these are credits given to low income wage earners that often actually end up with negitive taxes, such that the IRS ends up paying these people once a year when they file their tax returns even though they pay no taxes. Now for the real revenue potential----- and I don't like it either, but it is time to start paying to get out of this mess we have been leaving for our children to deal with--- that is, all tax rates ( including middle income) need to go up a little bit. I know it will hurt a little, but a bankrupt government coupled with you and me left with little or no Social security benefits when it is "our turn" will hurt even more. If we were to increase each marginal tax rate by only 1 percentage point, it would create hundreds of billions of additional dollars to reduce our deficit and overall debt. But I realize I'm only dreaming as this will likely never happen until we find ourselves in the position of Greece and Ireland.

[clt_capt]

Glenn - I do agree with your points - IMHO, the only way Congress is gonna do the will of the people is to cut ALL of them to a single term - be it 6 years or 8 years. They will then be looking at deals that help the folks that voted them - not the pork required to grease the wheel to get re-elected...

[Captain Michael Buffington]

nothing will help that so I'll just shut up.

Mike

[marine4003]

I agree Fred. The mandated joint bi-partisan committee that must find a way to reduce an additional $1.5 trillion (?) in spending will have some tough decisions to make. The day's of the U.S. spending like a Jewish Princess with a Gold Card on Rodeo Drive are over. I can only hope that Congress realizes that the United States Government's first duty is to its own citizens. This being said, there will have to also be dramatic cuts in domestic handouts and pork barrel programs as well as cuts in defense spending.
Don't get me wrong, the US needs the World's strongest military, but I think most rational people acknowledge we have gone spending crazy with our military at least with respect to the 3 military actions we are currently involved with. I recently read an interesting statistic: The U.S. Navy currently has vessel tonnage that is greater than the next 17 Navy's of the World combined--- not counting at least two more Carriers under contract.
On the revenue side, you are also correct. We hear the constant bickering regarding the leaches in our society that receive handouts. Well, the reality is, there will always be such leaches and when people can accept that fact, efforts can be focused on ideas to effectively cut costs ( real dollars not just penny's to spitprincipleses). The very firsmeaningfulul gain in revenues would be a significant reduction (if not total elimination) of Earned Income Tax credits--- these are credits given to low income wage earners that often actually end up witnegativeve taxes, such that the IRS ends up paying these people once a year when they file their tax returns even though they pay no taxes. Now for the real revenue potential----- and I don't like it either, but it is time to start paying to get out of this mess we have been leaving for our children to deal with--- that is, all tax rates ( including middle income) need to go up a little bit. I know it will hurt a little, but a bankrupt government coupled with you and me left with little or no Social security benefits when it is "our turn" will hurt even more. If we were to increase each marginal tax rate by only 1 percentage point, it would create hundreds of billions of additional dollars to reduce our deficit and overall debt. But I realize I'm only dreaming as this will likely never happen until we find ourselves in the position of Greece and Ireland.

While i agree with most,i do disagree with the tax increase for now, it seems that the more money poured into DC the more is spent.so by increasing tax revenue,were in effect giving them more to spend, prior to any tax increase an independant accounting firm needs to PUBLICLY audit the US govt,end pork,end absurd foriegn aid packages,get our troops home..these "wars" are accomplishing nothing more than getting our boys/girls killed and making defense contractors rich, drug testing for entitlement programs..you fail..no $$, reduce subsidies and the biggest..audit defense spending..alone these measures may save billions, then raise tax's to pay down the deficit.

[Captain Michael Buffington]

While i agree with most,i do disagree with the tax increase for now, it seems that the more money poured into DC the more is spent.so by increasing tax revenue,were in effect giving them more to spend, prior to any tax increase an independant accounting firm needs to PUBLICLY audit the US govt,end pork,end absurd foriegn aid packages,get our troops home..these "wars" are accomplishing nothing more than getting our boys/girls killed and making defense contractors rich, drug testing for entitlement programs..you fail..no $$, reduce subsidies and the biggest..audit defense spending..alone these measures may save billions, then raise tax's to pay down the deficit.

why screw the people who make the jobs?

Mike