Category Archives: capitalism

Buffett says taxes are too low, but doesn’t pay more himself

Echoing his comments in June, Warren Buffett is complaining about tax rates as being too low. The relevant question is: has he done anything about it or is he just being a hypocrite, again?

Let?¢‚Ǩ‚Ñ¢s see what Buffett has actually done instead of said: Buffett is giving away is fortune (http://money.cnn.com/2006/06/25/magazines/fortune/charity1.fortune/). Good for him, great choice, it is nice that he has the right and freedom to do as he sees fit with the money he has earned. Too bad Buffett doesn’t think that others should have that same freedom.

What precisely is Buffett doing? He is giving his fortune to tax-exempt foundations. So, if you REALLY want to pay more taxes, Warren, why do this? Continue reading Buffett says taxes are too low, but doesn’t pay more himself

Warren Buffett attacks tax rates as being too low?

“Mr Buffett said that he was taxed at 17.7 per cent on the $46 million he made last year, without trying to avoid paying higher taxes, while his secretary, who earned $60,000, was taxed at 30 per cent.” (see Times Online article)

Sounds like Warren Buffett has a perfect argument to lower his secretary’s tax rate to 17.7% (or lower). How about that Warren? Of course, that is unlikely to happen since Buffett has made his stance clear – that he wants everyone to pay MORE taxes, not less. Continue reading Warren Buffett attacks tax rates as being too low?

A Race to Liberty, Not a Race to the Bottom

The phrase “Race to the Bottom” is a semantic slight of hand used to attempt to color your opinion prior to even looking at the situation over which the phrase is used. The phrase “Race to the bottom” was coined by US Supreme Court Justice Louis Brandeis in the 1933 case, Ligget Co. v. Lee (288 U.S. 517, 558-559). Brandeis didn’t fail to see that competition helps to increase liberty, Brandeis merely believed that this was a bad thing. Coining a phrase like “race to the bottom” is a wonderful technique if you wish to stifle dissent and put other views immediately on the defensive.

In fact, the often disparaged “race to the bottom” is in fact a race to freedom. The “race to the bottom” is a race to give each individual person the liberty Continue reading A Race to Liberty, Not a Race to the Bottom

Out-sourcing Jobs? What about the causes?

Wednesday, February 25, 2004
Out-sourcing jobs?

The ?¢‚Ǩ?ìcrisis?¢‚Ǩ¬ù in the U.S. about ?¢‚Ǩ?ìexporting jobs,?¢‚Ǩ¬ù will become a campaign issue. However, the immense impact of the United States?¢‚Ǩ‚Ñ¢ taxation of exports is being ignored.

Politicians will attempt to dismiss the cause as ?¢‚Ǩ?ìgreed?¢‚Ǩ¬ù by corporate interests which requires more laws from Washington. The fact is that the U.S. taxes our own exports to the rest of the world whereas the rest of the world does not do the reverse. According to Ernest Christian, a tax expert based in Washington D.C., the disadvantage to the U.S. is between $120 billion and $150 billion per year. Think about that number. Continue reading Out-sourcing Jobs? What about the causes?

The revolution is behind them. It went by in the Night of Depression, singing songs to freedom.

“There are those who still think they are holding the pass against a revolution that may be coming up the road. But they are gazing in the wrong direction. The revolution is behind them. It went by in the Night of Depression, singing songs to freedom.”

Garet Garrett, “The People’s Pottage” 1953