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The multi-billionaire Warren Buffett recently pointed out that he's avoided tax for decades. Meanwhile he's accumulated massive wealth that he kept out of reach of the IRS. He insists that as a matter of fairness he should be made to pay more taxes too.
Buffett is a man of character, unequaled in the investment business. Sure, Berkshire has had its dips, but the greatness of Buffett the investor is his ability to hold back when markets become too rich, and then to pounce when fear is has replaced greed.
Warren Buffett and Charlie Munger's philosophy is as basic and old-school as their railroad investments. It's somewhat the same with their basic view of life; of working hard at what you love, not being infatuated with success and money, and giving back to your community.
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Is it too much to ask that people making over one million dollars in annual income pay a tax rate comparable to middle income Americans? Why is there one set of rules for millionaires and a different set of rules for the rest of us?
The filibuster rule trumped the Buffett Rule and the people lost once again. So, it's out with the old Buffett Rule that is Warren-based. And, in with the new Buffett Rule, that is Jimmy-based.
If Boomers want to continue the proud national tradition of handing off a better America to each generation, then it's time to rethink what it means to age.
Leadership is about empowering others and power expands the moment you share it.
Our nation is heading off a financial cliff, and both major political parties are in deceptive denial. It's time we as Americans put on our adult pants and started confronting the truth.
Instead of giving the wealthiest Americans a free ride, why shouldn't we ask them to pay their fair share? That's the only way we are going to bring fairness to our tax system and make our nation stronger, healthier and more competitive.
The 99 percent must insist Congress pass the Buffet Rule. They must render tax shirking by those in first class as unacceptable as driving with a pet dog strapped to the car roof. The survival-of-the-richest attitude is bad for the country and antithetical to democracy.
Obama should take his own advice and publicly rename the idea the "Reagan Rule" -- and then run a television ad explaining why to the country.
I asked myself: Would the president's Buffett rule rhetoric connect as well with the truly oppressed middle class people whose dreams and life savings have been shattered and who now don't worry about paying much in income taxes?
Tax credits don't work to encourage behavior if Americans can't understand them, so let's get Congress and the president to enact the "Baffle Rule" this year, so that our taxes for next year are friendlier and less baffling to the self-employed and small businesses.
If the American people make their voices heard and put enough pressure on Congress, we can restore fairness in our economic system, do what's right for the middle class, and show that Congress can stand up to special interests.