Is what I am proposing pretty radical and does it face an uphill battle in Congress? Absolutely. But the stakes are enormous for the country and nickel-and-dime tinkering with the tax system will not fix the problem.
Even if you had invested 15 years ago, not long before the start of the greatest secular bear market since the Great Depression, you would have compounded money at 4.72 percent per year. This also would have doubled your money.
I was part of the Buffett family for twelve years, married to his son, so I had a ringside seat and learned how the master worked. I have made a career explaining why Warren Buffett is attracted to certain stocks or chooses to buy certain companies outright.
Saving, investing and growing your net worth gives you the greatest freedom of all, because you're no longer tied down by the limits of money; you're free to travel, to move, to take risks, to ascend in your career, to take care of your family and to handle unexpected surprises.
Should investing be governed by simple rules? It not only should be. It must.
While the long-term future may be 3-D printing, and it's sexy to watch someone print a prototype kidney at TED, there's something wildly exciting about connecting folk to factories.
Now that the Hathaway Effect has been widely acknowledged, how could it be manipulated? Now I'm not suggesting any nefarious motives or a full-scale Elizabeth Warren-inspired NYSE investigation into vaginagate, but...
If one of the world's most successful investors, Warren Buffett, calls you on the phone and gives you a specific investment tip would you reply that it depended on the taxes that affect the income from the investment?
The "tax the rich" policies so far being discussed (at least the ones that leak out to the public) are laughably timid and tame, when you really examine the big picture.
It is noteworthy that neither the Democrats nor the Republicans are proposing increases in the estate tax. As always, the latter are putting forth their usual lame arguments for lowering or eliminating it.
What would you do if every time that you gave your child allowance, he or she spent it and then some? What if over a period of years, your child not ...
Obama won gays, latinos, 18-29s, and women by, respectively, 50/35/25/11 points -- and ran 40 points better than Romney on who favored middle class over big business. Ron Reagan and Mary Matalin debate whether a Republican Reset means 'evolving' on tax rates and "social issues."
One of the great lies of our time is that raising taxes on the wealthy hurts job creation and undermines economic growth. There is absolutely no evidence anywhere in the world that this claim is true. In fact, all the evidence points to the exact opposite being true.
The Alternative Minimum Tax is in need of reform. Conservatives like to argue that corporate tax increases would hurt small business. But this proposal would not touch small business. They also contend that focusing on the rich doesn't raise enough money. This is also false.
Selecting Jamie Dimon would be a gift to the powerful investment bank constituency plying their trade already in the all too comfortable niche of 'too big to fail.'
There is a relatively simple proposal that the president make that could raise more money than the nominal rate increase he wants, be progressive in its impact, and produce a more equitable and widely understood tax system.