|
Go
Vote! |
 |
|
|
|
|
Air
America Radio |
|
|
|
|
|
Head-On
Radio Network |
|
|
|
|
|
Search
dubyaD40.com |
|
|
|
|
|
Ads by
The Google |
|
|
|
|
Take
Action |
|
|
|
|
| Advertisers |
|
|
|
|
Recent
Posts |
|
|
|
|
|
Archives |
|
|
|
|
|
Today's
Reason To Drink |
|
|
|
|
|
Want to
link to us? |
|
It's easy to do. Right click on the image
below and choose "Copy." Then paste it on
your site.
|
|
| |
|
Blogroll |
|
|
|
| |
| |
| |
| |
|
|
Today's
Topics |
|
| |
|
Thursday, November 22, 2007
|
Money with a conscience
posted by
Clyde
5:30 AM
The future of the corporation
LAST WEEK, superinvestor Warren Buffett, America's second richest man, testified before the Senate Finance Committee on the subject of why people like him can well afford to pay taxes. In fact, Buffett is ceasing to be among the very wealthiest because he is giving most of his fortune away to philanthropies while he is still alive.
"Dynastic wealth, the enemy of a meritocracy, is on the rise," Buffett told the senators. "Equality of opportunity has been on the decline. A progressive and meaningful estate tax is needed to curb the movement of a democracy toward a plutocracy."
Buffett also proposed higher taxes on the wealthy in order to give working people a break on their payroll taxes, which now cost three Americans in four more than they pay in income taxes. And he supports taxing hedge fund bonuses at the same rate as ordinary income, so that billionaire hedge fund managers don't pay taxes at a lower rate than the people who clean their offices.
The conservatives on the committee were somewhat nonplussed, since Buffett is a poster boy for capitalist entrepreneurship. He isn't supposed to hold such views. And indeed, few Americans of great wealth do.
(Link)
Permalink
::
1 comments
::
|
|
|
|
|
| |
|
|
|
| |
Money has no conscience, no way but Buffett's actions are commendable, regardless his reasons. I mean he's old and maybe his conscience is telling him to get right with god or whatever, but it's his private money. To think that any publicly owned corporation will 'give' anything it can't write off in taxes is wishful thinking I'm afraid. Such basic reforms as stripping the 'personhood' from corporate structure is both necessary and also never going to happen short of routing the sitting government and starting over.
posted by
at 1:07 AM |
| |
|
| |
|
|
|
|
Headlines
& Comments |
|
|
|
| |
|
|
Online
Poll |
|
|
|
| |
|
dubyaD40.com
Store |
|
|
|
| |
|
Google |
|
|
|
| |
|
|
Amazon.com |
|
|
|
| |
|
| |
|
|
|
