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Re: 2011 U.S. Budget Cut in PerspectiveI watched this conversation between Gates & Buffet and some sort of public panel the other day and thought it was interesting. Buffet has a really excellent understanding of the basics as well as utility, and obviously a very deep understanding of US tax law. Obviously he (and Gates, but Bill isn't who makes this video interesting) is correct that the middle class bears the brunt of the tax burden percentage wise... they make enough to be taxed heavily, but not so much that they can afford to hire someone to come up with clever ways to reduce their tax burden.[media=youtube]iVOwaMWewGY[/media]As I think I have made clear in the past, while I applaud Buffet and Gates philanthropism (and agree strongly with Buffet's decision to give away the vast majority of his wealth so his children are not ruined by it), I do not want it to be mandatory (as Buffet seems to espouse for his own wealthy class). I believe taxing more heavily to make distribution more "fair" is both a zero sum game and unfair.
Re: 2011 U.S. Budget Cut in Perspective
I watched this conversation between Gates & Buffet and some sort of public panel the other day and thought it was interesting. Buffet has a really excellent understanding of the basics as well as utility, and obviously a very deep understanding of US tax law. Obviously he (and Gates, but Bill isn't who makes this video interesting) is correct that the middle class bears the brunt of the tax burden percentage wise... they make enough to be taxed heavily, but not so much that they can afford to hire someone to come up with clever ways to reduce their tax burden.
[media=youtube]iVOwaMWewGY[/media]
As I think I have made clear in the past, while I applaud Buffet and Gates philanthropism (and agree strongly with Buffet's decision to give away the vast majority of his wealth so his children are not ruined by it), I do not want it to be mandatory (as Buffet seems to espouse for his own wealthy class). I believe taxing more heavily to make distribution more "fair" is both a zero sum game and unfair.
