Leslie on the Peoria.com Forums - Page 2

If you REALLY believe that Thune's childish behavior is legitimate or valid, than we don't have anything else to discuss.

It's legit. Makes people put money where their mouth is. In fact, I think they are calling it the "Warren Buffett bill".

Why do we need legislation for something that anyone can already do?

To the ultra wealthy, money is a lot of things. Warren Buffet feels that the ultra-wealthy have a bit too much and could reasonably part with some.

One aspect of money is that money is power. If we use an analogy where power is represented by really large clubs, we can envision the ultra wealthy running around with those really large clubs. With those really large clubs they can do whatever they want to those who don't have the same big clubs, like beating people over the head and leaving large messes from it.

Warren comes along and suggests that maybe the ultra-wealthy really don't need really large clubs. They leave such an aweful splatter. Perhaps every one with really large clubs should trade down to something like a baton. With a baton you can still beat people over the head and have your way but with less mess. Naturally some of Warren's peers scoff at the idea. A number of them are adamantly opposed to trading down their really large clubs. Some clever person even suggests that if perhaps Warren doesn't like the mess so much then maybe he should trade down to a baton on his own and leave everyone else alone. A great cheer was heard among the really large club bearers.

Now why wouldn't Warren just trade down all by himself? The answer is that if he did, all the other really large club bearers would summarily beat him down; a baton being no match for a really large club. Therein you can begin to understand why Warren won't do that and why the whole proposal of him voluntarily paying more taxes is nonsense. No one is going to unilaterally weaken their position vis a vis their competitors.

Another view... The ultra wealthy are race car drivers. They drive the fastest, most powerful automobiles on the planet. They also burn lots of fuel, pollute, cause bad accidents when they occur and well...

So Warren, who is in the pole position, suggest maybe they all should use smaller horse powered engines. The other drivers scoff. The other drivers are there to win and knock Warren and everyone else out of the lead. Hell no, they are not going to drive slower cars. If Warren is so concerned about gas, emissions and safety, then he can trade down and leave the rest of the drivers alone. Warren is not going to do that alone, naturally, because he would surely lose the race to the greater horse powered engines.

It is ridiculous to assert that Warren should virtuously act alone and equally ridiculous that he should be criticized for not acting alone to prove his virtue.

Would the race still be competitive at lower horse powers? Sure. In fact it might even be more competitive because others might then be able to build the smaller horsed automobiles.

Isn't this the essence of NASCAR versus Formula 1? It is prohibitively expensive to run Formula 1, NASCAR.... much more egalitarian.

Its not about paying more taxes, its about paying FAIR taxes. Wealthy people pay a less percentage of their income on taxes than the average person... the point that Buffet has been making.

Along with fair taxes we need to return to fiscal responsibility.

We had a balanced budget, and a pay as you go philosophy in 1999... when the tax rates on the wealthiest 1% of wage earners was 3% higher than it is now, and our economy was booming.

And of course I never forget it was a republican congress and republican president who spent us to the point where we are now.

Wait...when did this turn into an Obamacare thread?

Even you are smart enough to acknowledge this is ridiculous legislation that is nothing more than political posturing. If a Democrat did this, I'd call it exactly the same way. And for the record, on more than one occasion I've called Obama's forcing the healthcare plan his demise.

I could go along with the "fair tax" theory if it was indeed fair. But it is also true that poor people pay less percentage of their income than the average person as well. When they get to pay their share, then I'm on board.

Ok, so they should pay the same percentage on 0 that Rich people pay on Millions?? I can agree to that.

Read more at www.humanevents.com/article.php?id=45889

First off, your math is weak. ANY percentage of zero is still zero.

Second, yes...they should pay a percentage. Whether or not it's the exact same percentage as rich people, I don't believe I said that. You assumed it in order to support your argument against me, the classic straw man fallacy.

When you talk about FAIR taxes, you have to consider all taxes. Poor people pay a larger percentage of their income on sales taxes, mft and property taxes, which is why we need a progressive income tax to make tax rates fair.

Agreed to a point. Poor people have homes with a lower valuation than rich people, so whether or not their tax percentage is higher or lower is relative to the valuation of the home vs. the income of the owner.

even if you disregard property taxes, consider sales taxes and MFT as a percent of income....