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Two of America's Richest Assail Bush Tax Cut

Discussion in 'Channel Zero' started by mental invalid, May 21, 2003.

  1. mental invalid

    mental invalid Dirty Dozen Crew

    Joined: May 11, 2001 Messages: 13,050 Likes Received: 8
    Two of America's Richest Assail Bush Tax Cut
    Tue May 20, 5:23 PM ET Add Politics to My Yahoo!

    NEW YORK (Reuters) - You would think two of the wealthiest Americans would have no problem with a tax cut that would put thousands, if not millions, of dollars in their pockets.

    But billionaire investors Warren Buffett (news - web sites) and George Soros, Nos. 2 and 24 on Forbes Magazine's list of the 400 richest Americans, both railed on Tuesday against President Bush (news - web sites)'s plan to deepen income tax cuts and eliminate taxes on corporate dividends.

    Bush, who has campaigned around the country touting the plan as a way of creating jobs and boosting stock prices, is pressing for final agreement this week as Congress wrangles to fit the package into a $350 billion limit set by the Senate.

    In an opinion article in the Washington Post, Buffett, the chairman of holding company Berkshire Hathaway, said he already pays about the same income tax rate as his receptionist -- about 30 percent.

    But Buffett said with the planned dividend tax cut, he conceivably could pay a mere 3 percent in income taxes. Recalling President John F. Kennedy's declaration that Americans should "pay any price, bear any burden" for the country, Buffett said a 3 percent income tax rate "seems a bit light."

    "Supporters of making dividends tax free like to paint critics as promoters of class warfare. The fact is, however, their proposal promotes class welfare. For my class," wrote Buffett, whose wealth is estimated at $36 billion.

    Soros, renowned for both his swashbuckling speculative bets on currencies as well as his philanthropic work, dismissed the tax cuts. He said they would not revive the U.S. economy in the short-term but were only aimed at helping the rich get richer.

    "This move is designed not to have much impact now. It's designed to have an impact over an extended period and it's basically using the recession to redistribute income to the wealthy," Soros said in an interview with financial news network CNBC.

    "I think that is really not a very effective way of using a deficit," said Soros, whose wealth is estimated at $6 billion.
  2. -Rage-

    -Rage- 12oz Loyalist

    Joined: Apr 12, 2001 Messages: 11,276 Likes Received: 71
  3. mental invalid

    mental invalid Dirty Dozen Crew

    Joined: May 11, 2001 Messages: 13,050 Likes Received: 8
    im just constantly amazed with how people keep a straight face in the bush admin, and how they are able to sell this to the blue collars......

  4. Wilt TA

    Wilt TA New Jack

    Joined: Jul 27, 2001 Messages: 0 Likes Received: 0
    its nice to see disgustingly wealthy people act like they give a damn...maybe they really do...
  5. Ken Barlow

    Ken Barlow Member

    Joined: Apr 11, 2003 Messages: 321 Likes Received: 0
    Lets all hope he doesn't win again next year.....
  6. Dick Quickwood

    Dick Quickwood 12oz Loyalist

    Joined: Aug 25, 2002 Messages: 14,783 Likes Received: 14
  7. Poop Man Bob

    Poop Man Bob Dirty Dozen Crew

    Joined: Nov 16, 2000 Messages: 10,259 Likes Received: 18
    Bump. Good read.

    Sorry I haven't responded to your email, homey. School started again on Tuesday, plus I have some serious shit happening with medical issues and my mom. Blarg. Needless to say, the albums you send are fucking hot. Thanks again, man.
  8. mental invalid

    mental invalid Dirty Dozen Crew

    Joined: May 11, 2001 Messages: 13,050 Likes Received: 8

    dont fret.....that was just an email to give you some background....

    hope the music helps a little bit.....
  9. Weapon X

    Weapon X 12oz Loyalist

    Joined: Sep 6, 2002 Messages: 14,905 Likes Received: 202

    Republicans know them as the "base".
  10. BROWNer

    BROWNer Guest

    i'm consistently flabbergasted the bush administration
    is still in office. the blatant criminality is astonishing.
    these guys are the most ill propaganda(spin) managers
    in a long time. this administration looks to eclipse the success
    of big tobacco's 80 or whatever year PR war.
  11. BROWNer

    BROWNer Guest

    edit: i shouldn't use the word 'criminality' cuz these
    guys pretty much made the laws or their buddies did, so really alot of
    what they are pulling is actually legal, even though its becoming
    more and more contentious..

    it's amusing how bush tries to slam democrats for their 'special interests'....
    republicans have been pulling this card for years....funny thing is,
    'special interests' almost always boils down to everything
    and everyone BESIDES the rich elite and powerful.
  12. nomadawhat

    nomadawhat Veteran Member

    Joined: Aug 24, 2001 Messages: 5,001 Likes Received: 2
    on another subject, i heard bush had a 10 year ban on the research and development of nuclear weapons by the usa lifted yesterday...... thats great....:rolleyes:
  13. Esai

    Esai Member

    Joined: Oct 12, 2001 Messages: 612 Likes Received: 1
    The funny part is how he uses the fact that other countries are developing WMD's as an excuse to start shit with everyone. How hypocritical, but it's crazy how stupid americans are to blindly agree. I really hope he isnt reelected, but homeboys pushin the propoganda strongly and wisely, by the time he's done we'll be in the dark ages. If he's re elected I have a nauseating suspicion that colin powell will be his republican succesor in 2008.
  14. grittylifer

    grittylifer Banned

    Joined: Nov 14, 2002 Messages: 0 Likes Received: 0
    really though. if we all stop paying federal taxes at once that administration is straight fucked.
    And with all the infantry non rich republicans for the most part...what they gonna do? bomb us into paying our hard earned moneys to their corrupt use of hypocrytic killing.

    fuck it. you got my vote on the succession of California.
  15. BROWNer

    BROWNer Guest