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Buffett worked, at least informally, with the Obama administration on some financial policy issues. And he is a proponent of greater taxes on the very rich. Her

Buffett worked, at least informally, with the Obama administration on some financial policy issues. And he is a proponent of greater taxes on the very rich. Here's one short video (2:46) in which he talks about it: https://www.youtube.com/watch?v=VJzTsTU1xL8 https://www.youtube.com/watch?v=VJzTsTU1xL8

buckle8017 1y ago
[flagged]
- omer9 1y ago
  Tax is mandotary, gift isn't. Why should Joe Average pay more %% in taxes and Billionair and Co not?
- ceejayoz 1y ago
  I, similarity, can opt not to murder people. It is still an issue if others do it.
  - buckle8017 1y ago
    So you're saying it's no different than a murder complaining about murders. Hard to take him seriously when he doesn't himself pay more tax
    - gameman144 1y ago
      > Hard to take him seriously when he doesn't himself pay more tax Why? Advocating for a change doesn't imply that you need to act like that change has been made already. For instance, I am a huge advocate for building out more sidewalks in my city. I don't currently walk everywhere, though, because the sidewalks today aren't suitable for that -- the change needs to be made first. Likewise, I could donate all my spare money to the city to fund sidewalks, but this goes against my visceral sense of fairness: I am advocating for my local government to build sidewalks, not saying that sidewalks should be built by any means necessary and that I'm willing to foot the bill alone.
    - ceejayoz 1y ago
      Sure, in that “the world needs less murder” remains a good point even if it’s a murderer saying it. I’ll take the billionaire who advocates for fairer taxes over the one who doesn’t, any day.
    - sodality2 1y ago
      It is still logical for someone of any tax bracket to advocate for raising tax rates, while paying their owed taxes and not paying any more.
- ironmagma 1y ago
  Do you know that a system is more powerful than an impulse?
photochemsyn 1y ago
If the US government really wanted to bring back industrial manufacturing, tax policy is one obvious route - eg a 2/3 tax on billionaire and corporate wealth, such as on the huge pile of cash Buffet-Berkshire is sitting on, but then offer a way out - invest that cash in domestic manufacturing and R & D and it won't be taxed. This could motivate the private sector to go back to the Bell Labs model, too.
- maxilevi 1y ago
  As if the government could do better capital allocation in the economy than buffett
  - Someone 1y ago
    Why couldn’t they, for the citizens of the USA? Buffett likely would not allocate it to optimize the outcome for US citizens.
  - andrewl 1y ago
    As if the government could do better capital allocation in the economy than buffett That seems to be what Buffett is suggesting.
- 33MHz-i486 1y ago
  that doesnt really work if they have to compete on price with foreign producers that have lower labor costs, looser environmental regulations, deeper supply chains and better process knowledge. might as well eat the tax (waiting for monopolistic opportunities) or light the money on fire
- WalterBright 1y ago
  Billionaires get that way by investing in companies. You don't have to force them into it.
  - mmooss 1y ago
    They also get that way by inheriting wealth, by buying favorable laws and regulations, by anticompetitive practices (we've seen a few in the IT sector), and by other problematic behavior. I agree that free markets are great in principle but your comments seem dogmatic - all free markets and only free markets. The conversation would be much more interesting if it was about the nuances.

buckle8017 1y ago

[flagged]

omer9 1y ago
Tax is mandotary, gift isn't. Why should Joe Average pay more %% in taxes and Billionair and Co not?
ceejayoz 1y ago
I, similarity, can opt not to murder people. It is still an issue if others do it.
- buckle8017 1y ago
  So you're saying it's no different than a murder complaining about murders. Hard to take him seriously when he doesn't himself pay more tax
  - gameman144 1y ago
    > Hard to take him seriously when he doesn't himself pay more tax Why? Advocating for a change doesn't imply that you need to act like that change has been made already. For instance, I am a huge advocate for building out more sidewalks in my city. I don't currently walk everywhere, though, because the sidewalks today aren't suitable for that -- the change needs to be made first. Likewise, I could donate all my spare money to the city to fund sidewalks, but this goes against my visceral sense of fairness: I am advocating for my local government to build sidewalks, not saying that sidewalks should be built by any means necessary and that I'm willing to foot the bill alone.
  - ceejayoz 1y ago
    Sure, in that “the world needs less murder” remains a good point even if it’s a murderer saying it. I’ll take the billionaire who advocates for fairer taxes over the one who doesn’t, any day.
  - sodality2 1y ago
    It is still logical for someone of any tax bracket to advocate for raising tax rates, while paying their owed taxes and not paying any more.
ironmagma 1y ago
Do you know that a system is more powerful than an impulse?

photochemsyn 1y ago

If the US government really wanted to bring back industrial manufacturing, tax policy is one obvious route - eg a 2/3 tax on billionaire and corporate wealth, such as on the huge pile of cash Buffet-Berkshire is sitting on, but then offer a way out - invest that cash in domestic manufacturing and R & D and it won't be taxed. This could motivate the private sector to go back to the Bell Labs model, too.

maxilevi 1y ago
As if the government could do better capital allocation in the economy than buffett
- Someone 1y ago
  Why couldn’t they, for the citizens of the USA? Buffett likely would not allocate it to optimize the outcome for US citizens.
- andrewl 1y ago
  As if the government could do better capital allocation in the economy than buffett That seems to be what Buffett is suggesting.
33MHz-i486 1y ago
that doesnt really work if they have to compete on price with foreign producers that have lower labor costs, looser environmental regulations, deeper supply chains and better process knowledge. might as well eat the tax (waiting for monopolistic opportunities) or light the money on fire
WalterBright 1y ago
Billionaires get that way by investing in companies. You don't have to force them into it.
- mmooss 1y ago
  They also get that way by inheriting wealth, by buying favorable laws and regulations, by anticompetitive practices (we've seen a few in the IT sector), and by other problematic behavior. I agree that free markets are great in principle but your comments seem dogmatic - all free markets and only free markets. The conversation would be much more interesting if it was about the nuances.