Quote Of The Day

“Warren Buffett has persuaded 68 other billionaires to follow his example and promise to give at least half their wealth to charities. But why hasn’t Buffett proposed also that the very rich make large gifts to the federal government to offset what he considers ridiculously low taxes on their incomes and wealth? My guess is that he and the others who pledged to give away their wealth to charity would have little confidence in how the government would spend such gifts. Buffett, for example, is giving most of his wealth to the Gates Foundation, not to the federal government, and is relying on how this foundation will spend his vast gift. Given this reluctance to make large gifts to the federal government, why should anyone have confidence that the federal government will spend additional tax revenue in a sensible way?” — Gary Becker

4 Responses to “Quote Of The Day”


  • Even Buffet isn’t ignorant enough to give his half (or anyone else’s for that matter) to this administration…why anyone would even think the Fed Gov’t under this POTUS is going to do the right thing is beyond me.

  • I don’t think for one second that they are doing this out of the goodness of their hearts.

    What I think that they are doing is creating Super-PACs’ which will support the democrats.

  • I would be interested in seeing someone who agrees with Becker’s argument, actually spell out what that argument is. Because, for the life of me, I can’t figure out what he’s trying to say. As best I can tell, Becker maintains that:

    If you feel the government will not spend your tax money in the way you would want it spent (which is true for all of us), then you shouldn’t advocate for any tax. Because, if you do, you are then obligated to give all your money to the government.

    Which is such a stupid argument I can’t even begin to dissect it.

    So, I’m assuming I’ve missed something here. If anyone can make heads or tails of what he’s saying, please feel free to translate for me.

    Thanks

  • With this administration there are alot of games being played.

    This administration has every intention of ramming their ideology down all of our throats.

    Obama is an ideolog; he is not going to change. Also foundations are not taxed so Warren Buffett is not doing this out of the goodness of his heart.

    Here is an example by another billionaire who is a democrat who is against the Obama doctrine;

    http://www.thehotjoints.com/2011/07/20/audio-casino-mogul-steve-wynn-blasts-obama-in-conference-call/

    Many Games in this town. Many!!!! The Concentration of Power in this town has a deleterious effect on people.

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