Warren Buffet has a quote about how messed up the system is when he pays a lower

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Jan 16, 2022
7:55:45am

kos Playmaker

Warren Buffet has a quote about how messed up the system is when he pays a lower

average tax rate than his secretary. That sort of thing is not unusual when it comes to the truly wealthy.

But a lot of this hinges on what ones definition is of “wealthy,” of course. I tend to think that the tax code is hardest on high-but-not-super-wealthy income wage earners.

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kos

Bio page: kos
Joined: Sep 14, 2016
Last login: Apr 24, 2024
Total posts: 1,820 (2 FO)

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Messages

Author

Time

I'm confused by the those with the let them eat cake attitude I saw today

eskyjazz

1/15/22 7:34pm

Right there with you. All around a bad look, very frustrating.

Mitty

1/15/22 7:39pm

Its likely a lot of out of touch wealthy folk who don't read and or don't care.

Mitty

1/15/22 7:43pm

Excellent point. Many people become wealthy by not reading and being clueless

EQD2

1/15/22 8:46pm

Boomers and their parents were raising five kids in three bedroom homes.

Squirt

1/15/22 7:45pm

Yep. Too many people today think they need a 5 bd home at age 25

UNLVcougar

1/15/22 7:47pm

TVs and phones are a drop in the bucket compared to housing, education, and health care costs

Odysseus

1/15/22 7:51pm

This.

eskyjazz

1/15/22 7:55pm

We had 4 kids in a 2 bedroom. Then I finally made enough money to

Nat Gas Man

1/15/22 7:54pm

Or cars. Even before the recent chip shortage, cars are outrageously expensive

crack

1/15/22 7:54pm

I don't buy it.

eskyjazz

1/15/22 7:55pm

I didn't buy it either--at least not what you claim I bought

ColoSpgs

1/15/22 8:06pm

RE: I didn't buy it either--at least not what you claim I bought

eskyjazz

1/15/22 8:15pm

I think excess contributes but is not “the” reason. Costs have outpaced wages.

Tokolosh

1/15/22 7:55pm

The inflation is bad, but the "necessities' of some people is ridiculous. Tons of stuff (especially phones and

Bert609

1/15/22 8:07pm

Just a thought, but I sometimes wonder if the opportunity cost of a phone is way

crack

1/15/22 8:50pm

Me, right now for one.

Bert609

1/15/22 9:13pm

Yeah, me too. I've gotten fat with my sedentary lifestyle cell phone addiction.

sheza65

1/16/22 12:13pm

Yep, people live markedly better standard of living today across the board.

txblue

1/15/22 7:55pm

Without granite countertops, stainless steel appliances, etc.

crack

1/15/22 7:57pm

While agree with you in general, the ridiculous increase in 2 main things, cost of housing and healthcare, has caused

specsauce

1/15/22 8:02pm

And college. That is probably a bigger expense than healthcare

1/15/22 8:40pm

College expenses have certainly increased thanks to government involvement, but there are still ways to keep costs lower

specsauce

1/15/22 8:58pm

There definitely are ways around it and I agree, more should do CC

1/16/22 8:32am

Go buy any 3 bedroom home in Utah. Good luck.

HingleMcCringleberry

1/15/22 8:02pm

I drive a 19 year old car. I pay $16 for cheapo phone service and

Mitty

1/15/22 8:07pm

Was with you until this. That just sounds more like a liberal politics talking

crack

1/15/22 8:21pm

Giving money to the rich? An example please?

EQD2

1/15/22 8:30pm

The government serves the wealthy and connected far more than the poor

kosmokramer

1/15/22 8:47pm

Those are vague talking points. I would like a specific example of the governmen

EQD2

1/15/22 8:48pm

I’ll give you an example…the COVID relief checks benefited the largest corporations far more than mom and pop stores and

specsauce

1/15/22 9:01pm

I agree the way Covid was handled was horrible in every single aspect of it.

crack

1/15/22 9:26pm

Agreed, but it also allowed them to grow their profits at the cost of many Main Street businesses.

specsauce

1/15/22 9:28pm

It was also a huge driver of inflation by putting all that money into

crack

1/15/22 9:34pm

Agreed 100%. The government is directly responsible for the heavy inflation in Housing, Health care, and education. And

specsauce

1/15/22 9:46pm

That is not an example of the government taking your money and giving it to the

EQD2

1/15/22 9:26pm

You asked for examples of the government giving money to the rich. While eventually, the cost will come, you didn’t say

specsauce

1/15/22 9:34pm

The laws and tax policy favor the wealthy.

kosmokramer

1/15/22 9:34pm

I’d say two, in my opinion, are the carried interest loophole and real estate

kos

1/16/22 7:50am

RE: Those are vague talking points. I would like a specific example of the

kosmokramer

1/15/22 9:29pm

Most of those are programs the government created with the intent to help.

crack

1/15/22 9:45pm

I am pretty sure the average tax bill for "the rich" is quite higher than it is

crack

1/15/22 9:01pm

True the rich are not the problem and tax rates are way too high. Taxes on the

kosmokramer

1/15/22 9:42pm

Totally. But also get rid of about 80% of the spending as well.

crack

1/15/22 9:46pm

Warren Buffet has a quote about how messed up the system is when he pays a lower

kos

1/16/22 7:55am

The truth is that there is a technology divide between generations. It has

theOnceler

1/15/22 8:14pm

It’s more than just "oversimplifying", it’s lazy and ignorant.

HingleMcCringleberry

1/15/22 8:18pm

People would love to buy a 1500 sq ft sfh. Where can they buy that on a 65k

valleus

1/15/22 8:20pm

Not any I know.

Jeremy

1/15/22 8:21pm

Let's look at some numbers

eskyjazz

1/15/22 8:59pm

In 1950s it was rare to have two cars and two incomes.

Bobmarleyjr

1/15/22 10:56pm

Agreed!

sheza65

1/16/22 12:08pm

Do what you have too to get a well paying job is not “let them eat cake.”

jvquarterback

1/15/22 8:02pm

I agree with this sentiment. My generation was told "follow your passion

EQD2

1/15/22 8:37pm

All the talk about feelings and everybody wins didn't prepare anybody for real

crack

1/15/22 8:44pm

Well, for what it is worth, in my opinion the government and the FED and their

crack

1/15/22 8:05pm

Eh, many of us are really not that far separated from struggling. Most of us aren't boomers.

CSoul

1/15/22 8:06pm

Basement apartments in my neighborhood go for 1600-1800…

HingleMcCringleberry

1/15/22 8:27pm

You had your battery stolen?

1/15/22 8:43pm

Yeh, got in my car and nothin....looked under the hood, batter was gone. And I know exactly

CSoul

1/15/22 9:00pm

One of the key choices some make is having kids without getting married

Gustav

1/15/22 9:34pm

AOC is completely out of touch with reality, but it is discouraging how

kosmokramer

1/15/22 8:20pm

I think it mostly comes down to everybody thinks somebody else should pay

crack

1/15/22 8:27pm

As a family of 11, I can attest that 90k is tight. But it can be done.

Cheese

1/15/22 8:28pm

Our son is looking to move out of Utah.

BlueMark

1/15/22 8:30pm

It’s harsh, but humans have always followed economic opportunity and traveled to

hansel

1/15/22 8:44pm

Don't let them come to AZ. We are full.

crack

1/15/22 8:48pm

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