<div dir="ltr">That wasn't my point. I'm all for charity, and I'm all for everyone having a better idea to do with their money than the feds to. <div><br></div><div>Buffet is happy to expound on how all of the people earning income above a certain level should be paying even more in income taxes talking out one side of his mouth, while simultaneously ensuring he himself pays as little tax as possible. I have zero issue with him legally avoiding as much tax as possible. If he was so concerned that he's not paying his fair share of taxes as he states in the puff pieces around this pressing need to further tax high income earners, he is more than welcome to write the IRS a large check voluntarily. His comments are a bait and switch.<div><br></div><div><div><br></div><div><br></div></div></div></div><br><div class="gmail_quote"><div dir="ltr" class="gmail_attr">On Thu, Feb 28, 2019 at 1:12 PM William Flynn Wallace <<a href="mailto:foozler83@gmail.com">foozler83@gmail.com</a>> wrote:<br></div><blockquote class="gmail_quote" style="margin:0px 0px 0px 0.8ex;border-left:1px solid rgb(204,204,204);padding-left:1ex"><div dir="ltr"><div class="gmail_default" style="font-family:"comic sans ms",sans-serif;font-size:small;color:rgb(0,0,0)"><span style="color:rgb(34,34,34);font-family:Arial,Helvetica,sans-serif">Buffet conveniently legally evades taxes at a higher level with the way his insurance business is structured. He has found a way to avoid taxes there for years, and is a hypocrite.</span><br></div><div class="gmail_default" style="font-family:"comic sans ms",sans-serif;font-size:small;color:rgb(0,0,0)"><span style="color:rgb(34,34,34);font-family:Arial,Helvetica,sans-serif"><br></span></div><div class="gmail_default" style="font-size:small;color:rgb(0,0,0)"><span style="color:rgb(34,34,34)"><font face="comic sans ms, sans-serif">Buffett gives away many bucks to charities and that he and Bill Gates and some others have set up. Maybe he figures that he has a better idea of what to do with his money than the feds do. I don't know what he is supporting but I very likely agree with him. bill w</font></span></div></div><div dir="ltr"></div><br><div class="gmail_quote"><div dir="ltr" class="gmail_attr">On Thu, Feb 28, 2019 at 11:58 AM <<a href="mailto:spike@rainier66.com" target="_blank">spike@rainier66.com</a>> wrote:<br></div><blockquote class="gmail_quote" style="margin:0px 0px 0px 0.8ex;border-left:1px solid rgb(204,204,204);padding-left:1ex"><br>
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-----Original Message-----<br>
From: extropy-chat <<a href="mailto:extropy-chat-bounces@lists.extropy.org" target="_blank">extropy-chat-bounces@lists.extropy.org</a>> On Behalf Of Henry Rivera<br>
Subject: Re: [ExI] Michael Cohen<br>
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>...Spike, please. This seems hardly plausible. You sound paranoid. And comparing it to slavery? That comes off as pretty insensitive to the brutality that slavey was...<br>
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On the contrary Henry.<br>
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If this government or any government makes arrangements for a 70% progressive tax bracket that is enveloping more and more people, most capital investments no longer make sense. Capital goes elsewhere. Fewer people have jobs. Government revenue goes down as collective need goes up. You have never seen brutality until you have seen the result of such a thing.<br>
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>...I’m reminded that Warren Buffett, who is estimated to be worth more than $47 billion, called on Congress to commit to "shared sacrifice" and raise taxes on people earning more than $1 million...<br>
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Sure of course, because Warren Buffett is among those few who will not share that sacrifice. Bigtime investors don't really have much taxable income. They build wealth in a way that isn't taxable through income tax. They occupy themselves by increasing the value of their holdings. The US government can only tax income. They have no way of knowing what you already own, and have no business knowing that. Your net worth isn't on a tax return, and doesn't need to be: that isn't taxable. Warren Buffett isn't suggesting any tax that will cost hm much of anything.<br>
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Beware the advice of highly successful people, for they do not want your company.<br>
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>...So there is even support for this among the filthy rich who realize they can maintain extravagant lifestyles even with larger tax rates on them...<br>
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Notice you always hear this kind of thing from people who have already made their fortunes. They are all for higher taxes on those who are coming up behind them.<br>
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But consider for a moment, what if... what if the system were changed to some kind of wealth tax. How would the government calculate your tax bill? They can do it when you sell a property which has appreciated by treating that as income, but what about your holdings you don't reveal such as physical gold and bitcoin for instance? If you hold that stuff, you better not tell people you have it. Reasoning: if you have physical gold, criminals will break into your house and kill you if you don't hand it over. If you hold bitcoin or cash, criminals will steal your children and kill them if you don't hand it over.<br>
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Result: if the US federal government even starts seriously talking about a wealth tax, or any tax on that which you already own, the value of property goes way down and the value of gold, cash and bitcoin goes thru the roof.<br>
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With that in mind, how difficult would it be to get at least a third of the senators to just say no? It would be the easiest election in history: vote for me, and I will prevent compelling criminals to steal and murder your children.<br>
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spike<br>
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