This is why we need TAX REFORM. Give the government less and the people more!!!!
Warren Buffet and Bill Gates discuss why a flat tax would be a mistake, how taxes on the wealthiest Americans are too low, and how the tax system has been tipped totally in favor of the wealthy. From a 2005 program on Nebraska public television.
Video Rating: 4 / 5
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@megagagnon1 Yes, I hate CPAs, accountants and tax attorneys.
@AlienGenotype He has plenty of energy to be president!
He made about 20 million per year, but yes we need a flat tax…
@WAKEUPshift111 0% INCOME TAX. Keyword: INCOME. Taxation on labor is slavery by the percentage imposed. Furthermore, the government shouldn’t be able to inflate the money supply either.
Has this guy made a video I haven’t liked? Not that I’ve found.
damn! loved it
@WoodstockProd The compliance costs for income tax in the US is $400 billion. Think of all the lost jobs if we made it simple. Do you hate CPA’s and accountants that much?
@elixeroflife It was more tongue-in-cheek. I realize they are legally allowed to do so, but what I’m asking is why do we allow it. FDR has next to nothing to do with the 16th amendment or the Federal Reserve Act. They both predated his presidency by about 15 years. The idea of income taxes go all the way back to Lincoln, central banking goes back even further. You can thank London for that.
@MortimerTheClueless yeah great solution! more money for the governemnt to waste! were you even watching the video?
Mitt Romney’s tax rate should be 100%. He didn’t earn one penny of his income! He buys business with other people’s money, then he throws hundreds and thousands of employees out of work and cuts and slashes services, and then he sells the company to an unsuspecting buyer.
Actually, considering how much wealth Romney destroys, his tax rate should be 200%!
a Flat Tax rate would be brilliant, everybody really is equal that way.
i want bob in office now he thinks like a true american bob for president
About Newt:
Are you guys forgetting he is just a good speaker thats it, he acts tough he is a draft dodger -proven. He is a lobbyist-proven, he caused chaos in congress they voted him out-proven. He is running on a platform of conservative values and divorced 2 wives to get a younger one -proven. He wants war with Iran -proven and he will not repeal the NDAA bill-proven.
@Modgoth Why would you want 0% interest student loans? That would just make it a whole lot easier for you to go DEEPER into debt by increasing demand and driving up college costs. Lower interest rates only help the seller, or in this case, the schools get significantly more money.
It has to be complicated because they are Liars.. I could fix everything tomorrow… Make Lying illegal…………..Like they did in the Roman Empire….i kept them honest for a while anyway
@bweazel FDR sold us into slavery to the Federal Reserve to pay them back for services that congress couldnt afford.
I’m still wondering why we give the federal government any taxes on any income. Anyone care to take a stab at why?
HAHAHA THIS GUY IS HILARIOUS. YO MAN DO ME A FAVOR. MAKE MORE VIDEOS BUT PLEASE GET A BETTER CAM
& KEEP MAKING VIDEOS FOR BARACK OBAMA!
@gqunit69 consumer confidence?? wtf…..
we complicate things because the democrats and their media minions deliberatly make it complicated to prevent the simple common sense solutions from happening. The only way we get a flat tax is if Republicans get a filibuster proof Senate and even then you still have to deal with the RINOs that will threaten to vote against such a tax reform.
PLEASE PLEAZE Please! For your own credibility, Saudis don’t get money from you, Israel (the Jews) do. As a matter of fact, Saudis just signed 6 months ago a 60 BILLION (yes BILLION), deal to bail out the American Industrial Complex.
Well said.
@eirefrance See the problem here is, I have a tendency to speak figuratively. While, you have a tendency to take everything people say as being 100% literal. When I say, “I hate Mcdonalds, I would rather die then eat there”…Obviously I don’t mean that, but I mean I hate Mcdonalds. Sometimes you can’t take everything as being completely literal. Speech has developed since the stone ages, if you haven’t noticed. Bob is not the “most informed”, but also far from ill informed.
speaking the truth
Bob I think we can all agree that you should run the White House, seriously bro you base all your decisions on common sense.
Please Bob, do it for America.
Please.
It’s thoroughly depressing to see these super-rich folk pleading for the government to come and seize their money. If they want to spend it selflessly then why don’t they use their own initiative!
I’d wager that the success of private philanthropy is far greater than anything that a wasteful, incompetent government could do.
They should take lessons from the great philanthropists of history and use their own creativity, rather than beg for state control like some brain-dead stooges.
the only problem of taxing the rich more is that all they’ll do is give them selves pay rises and bonuses to offset the extra tax they pay. the poor will still be in the same position of not being able to afford housing, heating, food and the basics in life while the diff in low paid and high paid jobs just gets ever bigger £ for £. . the rich are too greedy thats the problem. . only way around it is to put a max income lvl
WHAT DEGENERATE PIECES OF SHIT THESE TWO FUCKIN COMMUNISTS ARE !!!!!!!!!
@severrnijKGU warren buffet is full of it, he choose to pay his tax in form of capital gains instead of income tax, he still pays around 35 percent
Right then. Raise taxes to 80% on anyone earning anything and give it to the unemployed.
@voltairinedecleyre66 i wouldnt mind paying lots of taxes, if only i could see proof that every single other of my fellow americans was paying the same exact high tax as myself. no higher, no lower. i want it transparent. i like our powerful military, i also like to see good roads. taxes are the price you pay for living in a civilized state. you can tell cities that have extremely low taxes and strengths of government simply by the way they smell when you step off the plane.
@severrnijKGU Then, it’s settled. No taxes.
@voltairinedecleyre66 voltairine, that’s a ‘head’ tax. head taxes are very dangerous, they start riots easily and usually the politician who puts it in place loses their position because of it. in 1989 it was called the “poll tax” on property in the UK. that is the reason that you don’t see margaret thatcher any more. but i agree with your point that we should stop taxing the rich.
@jrroelle its really important that you read the post that came before this, because without it, only jrroelle and i understand its deeper meaning.
of course this is a man who cannot be taxed to death, who will never pay -back taxes-. id listen to this shit if he were the leader of the upper middle class who has faced bankruptcy and foreclosure. if he was a machinist who, wanting to put his daughter through college, took twice the hours and was surprised that he was taxed to the point of having that action become nill – and STILL says that he’s not being taxed too high. then id listen. they like their loop holes.
@ttiiyy ya but thats totally diff than his general idea
, lol
@ttiiyy Disband the fed – They run our leaders like puppets on a string. They play nation against nation and threatend to hit the kill switch on any country that does not comply. You might want to read about the types of strategies they use to do so. They have been behind every major war of this and the last century. Look up the PD strategy they use to ply us against each other.Look up Prisoner’s Delima on wikipedia. Prisonplanet & infowars for more info
@ttiiyy Now, I am a libertarian, as you can probably tell from the apolitical tactics I have outlined thus far, but there are certainly a few reformist ones I would consider productive. I am sure you are familiar with the Federal Reserve and efforts of politicians like Kucinich, Paul, and Sanders to abolish it. This central bank contributes greatly to the accumulation of capital in the hands of the elite. It’s a valve that needs to be turned off.
Google “Benjamin Tucker four monopolies”
@ttiiyy Even without secession, a well-organized workforce can occupy various properties and refuse to recognize the property rights. Of course, the capitalists and the government are not going to like this and will certainly use force to change that. If the workers can remain non-violent for long enough, more and more people will sympathize. These things might all be easier in the coming years when the government can no longer afford defense and security for their protected interests.
@ttiiyy That’s a good question. There are many things that can be done, some less savory than others. For instance, there is violent insurrection, to highlight one extreme, but it can be very unpredicable and often lead to disaster. Another might be secession. If successful, the secessionists could fortify their control over their resources and simply refuse to recognize the property claims of the usurers. This course is highly unpopular, especially for the Left, for some odd reason.
@ttiiyy which one of your favorite republican candidates refuses to cash their government paycheck? since they are against government spending….
or are you a massive hypocrite?
@lamrof I will have a much easier time supporting high taxes if our government can spend the money more responsibly. I read in newspapers that our government sends Israel and Palestine trillions of dollars every year. So does that our government can spend the money in any way that it wants? My point is even if we tax the rich to the full extent, if our gov’t does not behave itself, the gov’t will never have enough money to spend. That’s just the way it is.
@lamrof A lot of Americans are all upset about what’s going in the country. I wish I could agree with you 100%, but I can’t. First of all, how do we define unfair benefits that the rich enjoy? Look at the CEO of GE. GE has not been paying federal income taxes, and Obama is still in bed with them. Secondly, to be fair, rich Americans do pay taxes. It’s not as if the rich were not paying any taxes at all. I read in USA today that they contribute to at least 40% of the nation’s GPA.
@voltairinedecleyre66 I agree with you. However, can you be more specific about how working people can take back the ill-gotten gain without the aid of the government?
I will have an easier time believing Buffet if he’s willing to write fat checks to the government (since he believes that he’s not being taxed enough). Will he ever do that? Of course not.
It doesn’t make sense to charge people different rates for the same services. So let’s use not a progressive tax, not a flat tax, but an equal direct tax. No rates, everyone pays the exact same amount.
Now, I know what you are thinking. A tax scheme like that is regressive and favors the rich, but this is where the working people come in. Organize and take back the ill-gotten gain without the aid of the government. Stop taxing the rich and start reclaiming what is yours.
The truth is that until we have some major stimulus to the economy..like the internet in the 90s…major world wars (horrible option)..or some strange fad craze that makes people want to spend money then we are going to need more Gov’t spending. It is not this great evil everyone makes it out to be.
capitalist economies run on how fast dollars exchange hands. Money moves in 2 ways essentially 1. Consumer spending 2. Gov’t Spending. Consumer confidence is shot…so people are more apt to save instead of spend. In that case the Gov’t MUST SPEND MONEY. Money is the blood of capitalism–currently the blood is flowing too slowly.
Why is the answer always “higher taxes”? Why is “slashing Gov’t spending” never an option on the table? It should be, the Gov’t does more than it was ever Constitutionally allowed to do.
Why is Warren Buffett an anomaly in the rich end of the social spectrum? I understand wanting to keep as much of your money as possible, but why can’t the super rich just say “hmm, you know, I pay less in taxes than anyone who works for me. This isn’t right.”