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Words Of Wisdom From Billionaires

August 19, 2011 by  

“Stop Coddling the Super-Rich” That was the headline on a New York Times op-ed piece this past Sunday by America’s favorite multi-billionaire, Warren Buffet. His piece starts, “OUR leaders have asked for ‘shared sacrifice.’ But when they did the asking, they spared me.” Warren wants the super-rich, himself included, to be taxed more. But taking 100 percent of the earnings of every billionaire in America would pay for only a fraction of Obama’s profligate spending. In the meantime, Warren, why don’t you voluntarily send the big spenders in Washington more of your money?

This billionaire has had enough. When asked why there was so little job creation in the country, Casino impresario Steve Wynn blamed President Barack Obama. “I am telling you that the business community in this country is frightened to death of the weird political philosophy of the president of the United States. Until he is gone, everybody is going to be sitting on their thumbs.”

A warning from Red China. In the midst of the financial mayhem of the past month, the State Administration of Foreign Exchange — an official mouthpiece for the Chinese government — issued this statement: “We hope the U.S. government will earnestly adopt responsible policies to strengthen international market confidence, and to respect and protect the interests of investors.” We’ve come to a sorry place when a communist government lectures this country on the need to “protect the interests of investors.”

Wisconsin voters reject union demands. Despite pouring in more than $30 million and who knows how many outside “volunteers,” labor unions failed to unseat four Republican State Senators in special recall elections last week. Across the State, “outside special interest groups” (read: unions) outspent the actual candidates by a ratio of 5-to-1. Even so the Republicans will hold onto a majority in the Senate, thus thwarting efforts to overturn legislation to limit the power of public workers’ unions.

–Chip Wood

 

Filed Under: Chip Shots
Chip Wood

is the geopolitical editor of PersonalLiberty.com. He is the founder of Soundview Publications, in Atlanta, where he was also the host of an award-winning radio talk show for many years. He was the publisher of several bestselling books, including Crisis Investing by Doug Casey, None Dare Call It Conspiracy by Gary Allen and Larry Abraham and The War on Gold by Anthony Sutton. Chip is well known on the investment conference circuit where he has served as Master of Ceremonies for FreedomFest, The New Orleans Investment Conference, Sovereign Society, and The Atlanta Investment Conference.

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  • http://PersonalLibertyDigest Wiselady

    8-21-11

    Wiselady says:

    Suggestion: Warren, do some math on the national debt and roundup all bilionaires to donate that amount to honest people in government(if you can find some), and have them make sure that the debt is paid. Please, be sure you leave Obama and his leftist friends out of your venture. why..you might have some left over after the payment was made.

    Then, all billionaires would formulate a committee to see that there will be cuts here and there put in place; help push for an Amendment through Congress to make sure there will always be a balanced budget.

  • jopa

    On time: Your statement that the billionaires didn’t write the tax laws is a little bogus.Every year they stuff envelopes with money to have the tax laws written in their favor.Here we are today with those new laws.They don’t seem to be working do they?It’s the same with the big business loopholes and off shore bank accounts.If you do business here in this country you should pay taxes like the citizens in order to protect your investments and infrastructure needs.After the pillaging of the last administration we are in deep doo doo.

  • s c

    First, WAY TO GO, Wisconsin! Second, Opraisemeobama is a consummate hypocrite. He KNOWS that ‘soaking the rich’ is a pc buzz phrase that’s calculated to instill class warfare in America. WHAT will politicians do when rich people tell a prez and Congress to shove it wherever it’s comfy?
    Until poor people start putting people to work, that soak the rich crap is just that. Oanointmenow is so typical of dimwits who find their way into politics. Only when they have hordes of retarded robots lined up to vote for them can they almost get away with their unending infamy.
    Can Omakemeagodnow balance his check book? Can Oyourejustamortal ever stop talking down to those he hates? BLAH!
    By the way, when the Chinese get tired of enduring dolts like Geithner and Biden, we can expect interesting financial times here. Either learn to speak Mandarin, people, or find ways to keep people like Oainticool, Motormouth Joe, Geithner and all of the rest of the Washington incompetents OUT of politics.

  • Song

    I didn’t know this article was here. I have been hearing a lot about Warren Buffet lately and from what I gather the man is a colossal hypocrite and shrewd businessman. It has already been pointed out above that his income is not taxable so what does he have to lose? If he is really so interested in benefiting the country with more of his money then why doesn’t he write the check? Answer: because the man is a hypocrite, a self-made billionaire that isn’t about to part with his hard earned money voluntarily but is earning a lot of gravitas with his lip service of calling for the uber rich to pay more taxes. Before you get excited, people like the clueless broker Janice maybe you should research how Buffett made much of his money in the first place…by buying out companies that fold under the exorbitant costs of doing business like increasing taxes! Buffett is no dummy and only serves to benefit with a tax increase on the “rich” (remember Obama has determined that $200k is “rich”) because as more companies and small biz fold he is right there to buy them out. In addition, any expense directed at the wealthy or corporations are always passed onto the consumer through higher prices whether it is from a lawsuit or more taxes. The following link is one article that should give people pause before they, like the good little sheeple they are (JANICE THE BROKER) throw all their weight behind a man like Warren Buffet:

    http://communities.washingtontimes.com/neighborhood/truth-be-told/2011/aug/19/warren-buffett-and-ben-stein-speaking-tongues/

  • Len Bouchie

    If we were to tax everyone with a flat rate—10o/o—-and get rid or the deductions the wealthy would be paying their fair share and the working class would pay less and the government would have more money to work with than they have now. Of course this would’nt work unless we got Washington to spend within their means instead of spending what they want!

  • Darrell Pryor

    Of all the smart people in congress you would think they would do something right for a change.Both Parties are to Blame for what we are going through.The last three Presidents were total Screw-Ups.I don’t belive we’ve had had a good President since Reagan,Kennedy,Or Ike.But all in all,Ican do something that Congress Can’t seem to do,I can Balance my budget every year,and just think,I can do this without voteing myself a raise.I think its time to give Congress a Laxative.

  • ONTIME

    The billionaires did not write the IRS laws and the parasites in the congress seem to forget whom they stole their money from so they can pad their fat butts for life.

  • HarryButtle

    “But taking 100 percent of the earnings of every billionaire in America would pay for only a fraction of Obama’s profligate spending.”

    Obama’s spending is far lower than Bush’s, but domestic spending is not the cause of the debt. The causes of the debt are the recession, Bush tax cuts, tripling of the military budget, union-busting, MediCare not being allowed to negotiate prescription prices.

    Plutocracy: If Corporations and the Rich Paid 1960s-Level Taxes, the Debt Would Vanish
    http://sanders.senate.gov/newsroom/news/?id=7f68742b-ae1b-4705-8872-0c495b196e60

    That is proof-positive that we are not moving toward socialism, but have moved too far in the opposite direction. The disparity in income between rich and poor in America is now greater than in the Ivory Coast and Pakistan.

    • Nadzieja Batki

      We have moved toward Socialism. It may not be your definition of what Socialism is but nevertheless it is.

      • Janice M Cullen RE Broker

        The definition is what oit is, not what you would have it be!!! Open your eyes, better yet open your mind!

    • Janice M Cullen RE Broker

      I do not understand why this is so hard for those with thier heads,,,,,,,elsewhere, to understand. How about if we do not work together we will end upa 3rd world country!

    • s c

      HB, you were born too late, You should have been born around 1920. You would have had good odds at staying out of the war, working for a kook’s kook at one of FDR’s MANY redundant, wasteful and downright IDIOTIC three-letter agencies.
      You could have hid behind FDR’s skirts, played the ‘fascist’ card (as opposed to a race card), made serious money via the black market, gone to bed with every retarded and anti-American philosophy under the sun and still have held your head high knowing that all that easy money was grabbed when Congress assumed that they had a ‘god’ in the White House.
      Yep, you would have fit right in with that sycophant mob that FDR relied on to keep his sorry rump in office. If we ever learn how to travel
      back in time, go back to 1945 just after FDR died. You would have had an interesting time for a while, but even if your salary was under $7,500 a year, the dollar was worth having back then. Can’t wait to see you go, comrade. Keep in touch.

  • HarryButtle

    Wisconsin voters reject union demands.

    Poll: Majority Want Repeal Of Ohio Bill That Guts Collective Bargaining Rights
    http://tpmdc.talkingpointsmemo.com/2011/05/poll-majority-want-repeal-of-ohio-bill-that-guts-collective-bargaining-rights.php

  • HarryButtle

    “When asked why there was so little job creation in the country, Casino impresario Steve Wynn blamed President Barack Obama. “I am telling you that the business community in this country is frightened to death of the weird political philosophy of the president of the United States. Until he is gone, everybody is going to be sitting on their thumbs.”

    Wynn then announced record profits.

    • Janice M Cullen RE Broker

      Is this for real?????

      • s c

        JMC, don’t take Wynn’s remarks personally. When he says America’s business community is “scared,” he’s being polite. Mr. Obama, the Anointed Whatever from Illinois, doesn’t have the spine to make banks LOAN OUT that bailout money.
        It’s a combination of a way to fork over easy money to ‘friends,’ it’s an easy way to fool people into thinking that he gives a damn about the economy, and when examined in light of what’s happened vs. what should have happened, Mr. Omama’s performance rates an absolute F.
        Couple that with waiting FOR ALMOST THREE YEARS to pretend that JOBS are important, and anyone who can’t see though Mr. Obama’s hardcore incompetence has serious problems between their ears.
        Buffet and Gates know from experience that government uses a twisted form of coercion to get them to make pc-approved, ‘certain donations.’ Then, they can be seen as filthy rich, but not EVIL filthy rich. Uncle Scam views them as “friends.” George Soros is the exception to the rule. He’s another matter and another topic.

  • AJ

    Warren is full of Bull Sh_T! He’s looking for publicity. He’s just as hollow wood as Trump when it comes to the lime light! Put your money where your mouth is Warren you can check the box on the form, or just shut the F up!

    • Mirage

      Common-sense tells me Warren Buffet is CORRECT.

      Why should millionares and billionares pay less, in a smaller tax (percentage) bracket, than their secretaries or the rest of us???

      The argument that the very wealthy will create more jobs if they are taxed less, appears to be a fallacy, if you look at the job creation numbers under Bush and Obama.
      Both presidents govern(ed) in a time of historically low taxes, yet there their job creation records are abysmal!
      Clinton, morally bankrupt man that he appears to be, did have higher levels of taxation, and as I recall, life was MUCH EASIER BACK THEN.

      Before someone chimes in, that Clinton was just the lucky recipient of some former Republican president’s programs/policy; history judges president’s by what happened on their watch while they governed … its a pretty simple calculation that has been passed down.
      The exception to this tradition, is conveniently glossed over by people who have sworn their allegence to just one political ideology.

      Challenging Warren Buffet to send in additional tax dollars at his discretion, and thinking if he doesn’t, it somehow paints him soley as a publicity seeker, is an intellectually weak argument for determining all of what the man might be.
      One thing is for sure, public records speak volumes regarding SOME of his true intentions: Buffet has given hundreds of millions of dollars to those less fortunate than him.
      I’ll never know Buffet, who he might be, all his motives both selfish and altruistic, but on some important levels, he’s demonstrating his love of country, in that, he’s giving back to it with ACTIONS (his dollars), not just words, like so many political mouth-pieces.
      I’d like to believe, he might be an independent like me … as in, COUNTRY FIRST, and PARTY, if you belong to one: SECOND!!!!!!!!!

      • ED

        Buffet does not take much salary. His wealth accumulation is from the price increase on his shares which he does not sell and so does not pay taxes on. Therefore, he is calling for raising taxes on others, not him. Talk about a wealth tax instead of income tax and see how he reacts. I say he is two faced.

      • EU guy

        ED u just guessed, excluding factual arguments which could be 1000, no one has become a billionaire by having any sign of altruism

      • Janice M Cullen RE Broker

        Yeah a man who has done his home work and is realistic to boot! I concur with everything you have said.

    • Janice M Cullen RE Broker

      He has put his money where his mouth is many times! Any informed person knows that. Oh wait, you must be a brainwashed, selfish greedy Republican who is afraid he may be asked to sacrifice for the vets, seniors and others who have already given so much to this country!

  • Bruman

    Stop baseline budgeting in congress. If you want to pay more in taxes Warren, or if anyone else, you go right ahead. There used to be a check box on the 1040 for this, go ahead and send it in.

  • http://ThankClients.com Charles Everett

    Obama and Congress are not getting the message. Forget about raising taxes, just cut spending by 50%.

    Just for starters. Stop all foreign aid and domestic welfare, abolish all alphabetical agencies (we have 51 Dept of Ed, 1 Fed and 50 state), Close our borders and deport the illegals.

    • NOFOOLME

      I stronglet agree 100%.

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