My Billionaire is smarter than your Billionaire

Posted by: Barthélemy Barbancourt

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Ed and quite a few liberals are creaming their jeans about Warren Buffet's editorial begging Obama to fuck the upper middle class. They assume that by being a Billionaire Buffet is intelligent. If that is their criteria for poltical commentary, I give them Donald Trump:

 "Our president is grossly incompetent. He doesn't know what he's doing. The world is laughing at us. It's very, very sad."

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Ed Salden
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written by Ed Salden , August 18, 2011

Bart, you're fired.


Woody
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written by Woody , August 18, 2011

If its so sad Don, do your patriotic duty and run for President and right all that is wrong with this great nation. That's what I thought.


Woody
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written by Woody , August 19, 2011

It's obvious that the spotlight has not shined on Mr. Trump in quite a while so he needs to get out there and say something that will make him "proud of himself" again.

http://www.youtube.com/watch?v=gfKNS0bwmPU&feature=related

Looks like somebody has indeed found their soulmate in Mr. Trumpsmilies/wink.gif



Barthélemy Barbancourt
Good job avoiding the point gentlemen
written by Barthélemy Barbancourt , August 19, 2011

Buffet is hailed as a genius for being a billionaire and backing tax hikes. Trump is called a buffoon for criticizing Obama, no mention of how he too became a billionaire. If Buffet is so right, because he's so rich, then Trump must be right too?

The point is that Trump is perfect, far from it. The point is that billionaires can be partisan hacks too.

Buffet makes billions off of the current tax code. He also has his money and wealth swings of 50% or more would have little to no impact on his lifestyle. The people that are needed to make any dent in the deficit, those making over $200K or $250K are still significantly impacted by even 10% swing in their income or wealth. Tax increases for the rich are insignificant class warfare if they aren't extended to the upper middle class. There simply aren't enough millionaires and billionaires to make a significant dent in the budget. There are enough families making $200K to make a dent in the budget. These people are the real targets of these policies.



Ed Salden
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written by Ed Salden , August 19, 2011

Both Buffett and Trump had very wealthy fathers.

Inheritance. That's getting your fortune the old-fashioned way.



Woody
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written by Woody , August 19, 2011

"Targets" "warfare" since when did balancing our budget become an act of warfare? Your correct on one account though Bart; it is not only millionaires and billionaires that will be impacted but also upper middle class families. Everybody will be required to do their share to right the fiscal ship of this country in addition to spending cuts. This is not class warfare its what is required to balance the budget.


Nobody
Woodhead
written by Nobody , August 19, 2011

You miss Barts point. The real money is the middle class to upper middle class. That is where the taxes.

My son and daughter-in-law are a nurse and warehouse manager, total AGI of a little over $100K, they'll get hammered. They are THE middle class and will take a beating.



Barthélemy Barbancourt
Why shouldn't the poor pay?
written by Barthélemy Barbancourt , August 19, 2011

50% of Americans pay no taxes. They should pay too.


jk noreen
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written by jokin , August 19, 2011

Good job avoiding the point gentlemen
written by Barthélemy Barbancourt , August 19, 2011





"Buffet makes billions off of the current tax code. He also has his money and wealth swings of 50% or more would have little to no impact on his lifestyle. The people that are needed to make any dent in the deficit, those making over $200K or $250K are still significantly impacted by even 10% swing in their income or wealth. Tax increases for the rich are insignificant class warfare if they aren't extended to the upper middle class. There simply aren't enough millionaires and billionaires to make a significant dent in the budget. There are enough families making $200K to make a dent in the budget. These people are the real targets of these policies."

To be fair to Buffet, within the same proposal that he proffers to raise taxes on the super-wealthy, he also calls for "no tax increases on the middle class or even the upper-middle class" {in fact} "I could even justify and support a TAX CUT for these same groups" He obviously didn't think this through very well, as the Dems are the political equivalent of the bank robber, Willie Sutton, who, when asked why he robbed banks, replied, "Because that's where the money is". The Dems know their Dem-a-Goguery will have to adjust down quickly from the current demonization of the "corporate jet set" to the $200K dual-earning households, who will soon be fitted for the devil horns.


written by Woody , August 19, 2011

""Targets" "warfare" since when did balancing our budget become an act of warfare?"

You don't get out much, do you? Class warfare is the sickle and hammer in the Dem/Left toolbox.

"Everybody will be required to do their share to right the fiscal ship of this country in addition to spending cuts."

Nobody, and I mean everybody besides "Nobody", buys that bait and switch nonsense.






"This is not class warfare its what is required to balance the budget."

Grow up!, this isn't 1957 when GM, IBM and ATT ruled the world. We have global competitors with 21st Century economies and tax structures. They will be happy to welcome successful entrepreneurs. You ignore the realities of human behavior and their collective unwillingness to readily give more than 20% of GDP in taxes.





"Your correct on one account though Bart; it is not only millionaires and billionaires that will be impacted but also upper middle class families."

So therefore, Woody, is the "Oracle of Omaha" on the same page as you? Obviously, the answer is "NO". In terms of understanding macroeconomic big-picture solutions, Buffet's utterings are like Venus versus Mars. He reveals himself as guilt-ridden, affection-starved, self-absorbed and solipsistic.




jk noreen
Let's see you man up, Ed!
written by jokin , August 19, 2011

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written by Ed Salden , August 19, 2011

"Both Buffett and Trump had very wealthy fathers.

Inheritance. That's getting your fortune the old-fashioned way."


Buffet recognizes the potential for sloth that runs rampant in the "trust baby" set and of his own volition is leaving nothing but a pittance in his will to his children. But, he hasn't called for 100% estate tax rates yet for everybody, are you? Your implied proposal would hit your limousine liberal allies the hardest, so don't hold your breath on it becoming reality any time soon.







Woody
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written by Woody , August 19, 2011

Bart - The poor should pay too to the extent they are able. I stand behind my claim of shared sacrifice and dismiss the concept of "class warfare" when it comes to balancing the budget. The poor would also pay not only in direct tax payments but loss of benefits due to the cuts in Federal spending that need to be made.


jk noreen
Bravo, Woody!
written by jokin , August 19, 2011

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written by Woody , August 19, 2011

"Bart - The poor should pay too to the extent they are able. I stand behind my claim of shared sacrifice and dismiss the concept of "class warfare" when it comes to balancing the budget. The poor would also pay not only in direct tax payments but loss of benefits due to the cuts in Federal spending that need to be made."

If this were the starting point of the debate on the part of the Dems, a deal could be made forthwith, Obama could be re-elected and we could probably avoid a double-dip recession. How does it feel to be in the extremeist fringe of the Democrat Party?







Ed Salden
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written by Ed Salden , August 19, 2011

100% inheritance tax?

No.




Woody
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written by Woody , August 19, 2011

No chance Ed! There's an idea for a new bumper sticker on the back of the Airstream. "I'm spending the governments inheritance" Ha! (Or in your case, the school bus!) Do you really drive big yellow?? I used to back in college for tuition $ and it was an alright job for a spell.


jk noreen
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written by jokin , August 19, 2011

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written by Ed Salden , August 19, 2011

"No."





OK Mr Brevity. Your implication was that Buffet and Trump are successful primarily based on inherited wealth, which is desmonstrably not true. Try using more than 3 words explaining exactly where you stand on the issue.



Barthélemy Barbancourt
Ed, please tell me you aren't this dumb.
written by Barthélemy Barbancourt , August 19, 2011

Ed: "Both Buffett and Trump had very wealthy fathers.

Inheritance. That's getting your fortune the old-fashioned way."

Do you engage your brain before typing?

From Wiki:
"Warren Buffet had help, but no more than any other kid that went into the family business.
Even as a child, Buffett displayed an interest in making and saving money. He went door to door selling chewing gum, Coca-Cola, or weekly magazines. For a while, he worked in his grandfather's grocery store. While still in high school he was successful in making money by delivering newspapers, selling golfballs and stamps, and detailing cars, among other means. Filing his first income tax return in 1944, Buffett took a $35 deduction for the use of his bicycle and watch on his paper route.[16] In 1945, in his sophomore year of high school, Buffett and a friend spent $25 to purchase a used pinball machine, which they placed in the local barber shop. Within months, they owned several machines in different barber shops.

Buffett's interest in the stock market and investing also dated to his childhood, to the days he spent in the customers' lounge of a regional stock brokerage near the office of his father's own brokerage company. On a trip to New York City at the age of ten, he made a point to visit the New York Stock Exchange. At the age of 11, he bought three shares of Cities Service Preferred for himself, and three for his sister.[17][18] While in high school he invested in a business owned by his father and bought a farm worked by a tenant farmer. By the time he finished college, Buffett had accumulated more than $90,000 in savings measured in 2009 dollars."

Warren Buffet was a millionaire in 1962, 2 years before his father died in 1964 Inheritance had nothing to do with his success.

Fred Trump died in 1999. Donald Trump was worth 1.6 Billion in 1999, inheritance had nothing to do with his wealth then or now.

You have moved to the category of knee jerk liberal with statements like that. Do you want to ban sons from going into dad's businesses and doing way better than dad? Trump and Buffet are largely self-made men, the type of people America needs to reward, not punish with high taxes.



Ed Salden
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written by Ed Salden , August 19, 2011

Hey, I made a mistake.

Why are you being so mean?



Ed Salden
wiki
written by Ed Salden , August 19, 2011

Trump is the fourth of five children of Fred Trump, a real-estate tycoon and developer based in New York City. Donald was inspired to follow his father into real-estate development,[6] and began working on projects for his father's real-estate firm while still in college. Upon his graduation from the Wharton School of the University of Pennsylvania in 1968, Trump formally joined his father's company, Elizabeth Trump & Son.[7] He took the helm in 1971 and renamed it The Trump Organization.[8][9]

Knee.

Jerk.



Woody
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written by Woody , August 19, 2011

Silver spoon.


Nobody
Woodhead
written by Nobody , August 20, 2011

Silver spoon my ass. He did janitorial work, painting, and other crummy stuff for his Dad. BTW Woody, Ed got a whole bus company from his Dad, we just tweek him about being "just" a bus driver.


Ed Salden
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written by Ed Salden , August 21, 2011

Half of a bus company, but yup, my brother and I took over the family business. I owe a great deal to my Dad, and Mom, too.


Ed Salden
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written by Ed Salden , August 21, 2011

My first job was sweeping out school buses, for six bucks a week. I was twelve.


Nobody
Ed
written by Nobody , August 21, 2011

Six bucks? I'd done it for 5! Ya gotta be careful with "silver spoons". I know the owner of a mega beer Co. His first job after HS was cleaning the giant vats at the brewery, Hard and stinking work, some "silver spoon" that was.


Ed Salden
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written by Ed Salden , August 21, 2011

Is he a Lienenkugel?




Nobody
No
written by Nobody , August 22, 2011

Pete Coors, like his Dad and grandfather the family tradition is to start at the total bottom and work up from there. Since the merger with Miller brewing I don't know anymore. Pete was the first Coors not to hold the title of "Master Brewer".


Barthélemy Barbancourt
$1 an hour
written by Barthélemy Barbancourt , August 22, 2011

I'm not sure if my first job was sweeping buses or cleaning parts in gas. I know it was working for my dad at Valley Bus Lines.

Given that I was doing this in the 70's and I'm guessing Ed was working in the 50's or 60's I'd say that we had comparable pay.

My next job paid $2.85 an hour to clean a restaurant at night, I did that from 9th grade until I graduated HS. In the summer I worked during the day for either my uncle or my grandfather and at the restaurant at nights.

I owe a lot to my family too, but I also am where I am today because of decisions I made. I got great experience working for family, but I also learned to ask for the job and to show up everyday ready to work. I have relatives that had the same opportunities didn't learn those lessons.



Nobody
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written by Nobody , August 22, 2011

When I started my first bidness my single Mom took out a second on her house to loan me some money. No pressure here. Anyone who knows how to work owes his/her folks some credit. For the record Pete Coors' brother refused to clean the vats, guess who got the brewery?


Steve Anderson
Family Business
written by sanders , August 22, 2011

I started pumping gas (full serve, still have the cleanest windshields in town), washing dishes and cleaning motel rooms when I was 10. Different restaurant when I was 13, bussing tables, cleaning toilets, washing dishes (not all at the same time smilies/smiley.gif ), working the register. Made it to $25 a week for 30 hours when I was 16 (1975). I could also do a payroll and was a touch typist by then...

I owe my parents big time for the work ethic they instilled in me and the knowledge they gave me.




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