August 16, 2011

What he said, revisited

Hats off to billionaire investor Warren Buffett for his recent op-ed in the New York Times titled "Stop Coddling the Super-Rich." Here's a sample:

While the poor and middle class fight for us in Afghanistan, and while most Americans struggle to make ends meet, we mega-rich continue to get our extraordinary tax breaks. Some of us are investment managers who earn billions from our daily labors but are allowed to classify our income as “carried interest,” thereby getting a bargain 15 percent tax rate. Others own stock index futures for 10 minutes and have 60 percent of their gain taxed at 15 percent, as if they’d been long-term investors.

These and other blessings are showered upon us by legislators in Washington who feel compelled to protect us, much as if we were spotted owls or some other endangered species. It’s nice to have friends in high places.

And here's the conclusion:

My friends and I have been coddled long enough by a billionaire-friendly Congress. It’s time for our government to get serious about shared sacrifice.

Does that make him a socialist?

MIRACLES, MATTER AND MORE. Here is the latest version of the Rev. Jim Lewis' Notes from Under the Fig Tree.

WORK SHARING makes sense as an alternative to mass unemployment.

MOTHER NATURE has her moments when it comes to engineering.


No comments: