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Warren Buffett Not a Fan of Obama’s Corporate Jet Rhetoric

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Warren Buffett pushes back against the Obama administration's demonization of corporate jets while appearing on CNBC. (mrctv.org) Más...

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ddtfarm
ddtfarm 1
"It is not necessary to understand things in order to argue about them."
-- Pierre Beaumarchais
Turbo182
Turbo182 0
He's still a liberal piece of S***, who needs a reality check.
mjworthen
Matt Worthen 0
Yes but he owns net jets... He is going to be against anyone who criticizes the use of private jets.
n111ma
n111ma 0
Another jet owner(and driver) and Obama supporter is Warren's long lost cousin "Jimmy". When will these guys finally see where thier bread is buttered? It's a shame to see smart guys cut their own wrists. At least Warren is speaking out for a change.
kb9uwu
Matt Comerford 0
Turbo, what sort of reality check does he need? He's the third richest man in the world. He employees tons of people, I wouldn't call him a pos.
deanhartjr
Dean Hart 0
And He buys American Companies and puts money back into those companies and puts/keeps americans working. He is a fan of the USA and I am a fan of him.
MANBOI
MANBOI 0
Warren is one of the few people to state an important fact... the Private Jet tax loophole applies to almost all capital investment, not just aircraft. Widget machines qualify too! Another Obama supporter, Steve Wynn came out swinging yesterday. Called him a wet blanket for business.

When was the last time Obama flew on a commercial flight? My best guestimate is 2003 when he was running for Senate. That was the first time I heard of him as the MSM's started promoting his early rock star status. Instead of campaigning for US Senate in Illinois, he was flying around the country on a Gulfstream, campaigning for other Senate candidates.
chiphermes
Chip Hermes 0
Blaming corporate aircraft is counter-productive.
frankfurt982
andy streit 0
The biggest mistep of Obama concerning eliminating the private jet tax incentive, is that he said anyone who makes over $250,000 owns a private jet. What else is disturbing, is that OBAMA HIMSELF VOTED FOR THE PRIVATE JET TAX INCENTIVE.
mycloudymind
jeremiah long 0
I hate to start war but if you have multi millon aircrafts or million or billon dollor compinys that you can afford jets and not paying any taxes thats wrong and to help out or country and give more you guys can afford it .Stop rich peaple you are and start paying back your fair share and hidding you cash in other countrys .....:( :(
MANBOI
MANBOI 0
Sad truth (aka the facts):
86% Of Federal taxes are paid for by the top 25% income earners
The top 50% pay 97%
The top 1% pay 39%
In 1980 when the top rate was 70%, the richest 1% paid only 19%. Now with the top rate of 35% the richest pay twice as much
About 50% pay zero taxes.
Corporations don't pay taxes, the tax bill is passed along to their customers.

Jeremiah might think about getting an education and learning to spell before spouting off.
MANBOI
MANBOI 0
Keeping on topic, Jeremiah might want to actually read the story or view the video of Mr. Buffett talking about all the taxes he pays on his three NetJet's aircraft.
bishops90
Brian Bishop 0
@Manboi - Thanks for taking up my mettle here. I've been 'round and 'round this wagon so many times. I posted lengthy explanations of the same topics on other squawks recently, and some people just aren't capable or willing to get it.
If you confiscated all the wealth (not just the income, but net worth) of the richest 1% of people in the US, it would fund the federal government for like less than three months.
Margaret Thatcher once said, the problem with Socialism (or "nanny state" government in my terms) is that sooner or later you run out of other people's money!
RMasonPilot
Russ Mason 0
Easy to bash corporate flying when your personal jet is Air Force 1 with several C-17's carrying around your cars, helicopters, entourage etc. etc.
ddtfarm
ddtfarm 0
The Bizjet "disaster" is about extending the depreciation from 5 years to 7 years, same as the airlines. The top 400 wealth holders in the US have holdings equal to the least wealthy 150 million US citizens, a relationship commonly seen in third world nations. The richest earners in America do pay the largest share of INCOME taxes because they have the majority of INCOME. They do not pay a majority of all taxes. The coporate jet industry has a glut of used jets in the US. The growth in bizjets and aviation is in foreign countries paying workers and management a pittance of US wages. Get a grip, pay your bills.
padgettrea
Ronald Padgett 0
Manboi, give Jeremiah a break... we all know that poor people create jobs and hire minions <<insert as much sarcasm here as possible>>.
bishops90
Brian Bishop 0
@ddt - "The richest earners in America do pay the largest share of INCOME taxes because they have the majority of INCOME"

And what do you suppose they DO with that income? Bury it in a hole? No, it is reinvested into other profit making (hopefulley) enterprises that provide more jobs and other tax revenue. Or they spend it on cars, planes, boats, houses, clothes, flat screens.....whatever, that SOMEBODY has to produce, sell, service, install, etc. etc.

Just because I MAKE an extra dollar doesn't mean that I'm TAKING a dollar from YOU. So taking that dollar from me to fund a bloated, out of control government, helps you or anybody else exactly how?
twauchop
twauchop 0
Bishops90 you hit the nail head on! That is precisely what this current administration does not seem to want to comprehend. I don't think its cause they are not capable of understanding. In fact they do understand and just want a nanny state, to use your term from earlier. That is exactly what progressive tax rates are about. Taking more from the rich to give to the poor under the disguise of the the rich needing to pay their "fair share." How is 35% from one person not more than fair when others pay less or nothing at all. Everyone should pay the same percentage no matter what you make.
MANBOI
MANBOI 0
What you see is what you get. Don't believe me? Just look at Obama's resume.
bishops90
Brian Bishop 0
Thanks Thomas. Glad a few of us get it.
kb9uwu
Matt Comerford 0
Yet he supports Obama and the elimination of the debt ceiling.
bishops90
Brian Bishop 0
The richest 1% are not investing in America for PRECISELY the kinds of idiotic economic policies proposed by the left. I also have money in international funds etc. If the "tax the rich" crowd got it's way and the top rate went to say 50%, where would that money go then? What good would it do? Is it not better to have it invested SOMEWHERE, ANYWHERE, than sent to that black hole between Maryland and Virginia? NOBODY is hiring today because of the headaches, unpredictable costs, and uncertainty, CAUSED by this administration (either through actual policy, or by the President opening his pie hole).
I'm still waiting on an answer to my question, how does taking that extra dollar from me (or you, or Warren) to fund a bloated, out of control government, help you or anybody else exactly?
bishops90
Brian Bishop 0
Oh BTW, I never said ONLY a select few of anybody hire workers (those are YOUR words). We all know (or should) that the VAST majority of new job creation comes from small business. It's the CAPITAL (and where does Capital come from? From people with excess money) paired with hard working folks with good ideas that create jobs. Either one without the other won't do squat. When you fly down that trail ole pal, you're in MY airspace, and I know what the hell I'm talking about.
AviatorMom
Barbara Gould 0
First of all, this economic problem we face, was begun by GW, getting us into 3 (THREE) Wars. His old man, created NAFTA, and CAFTA, and allowed U.S. Corporations to manufacture "Off shore" and bring their product back to the USA, DUTY FREE, which is a gift given to Most Favored Nations MFN's.
If we want jobs to come home, this Administration must TWEAK NAFTA and CAFTA and insist that those American Corporations who seek cheaper labor, must then pay the transportation of the product AND be taxed accordingly. If they choose NOT to give jobs to Americans, in THIS Country, fine, but it will cost them in Duties and Taxes, when they bring their lousy products back to sell here. Imagine erasing our debt, by having our Customs Agents charge DUTIES and TAXES on ALL products assembled or manufactured offshore? We wouldn't have to touch Soc.Security OR Medicare, but none of the Congress, or this POTUS, want to rattle the cage of companies like GE, and begin charging those duties for displacing American Workers by leaving to manufacture in another Country. THAT is where this Congress should begin their hatchet job, and THAT my friends, will cut them off at the knees, profit wise...and yes, their duties and taxes, and the freight costs will be included in the cost of their products, making them less competitive with those Companies who were loyal to this Country and her workers. You don't have to agree with me, it's just that I'm sick and tired of funneling money everywhere but where it belongs. BUY AMERICAN! There is no status symbol, driving a foreign car, and making the unemployment rate here, soar to 11.2% Peace.
ddtfarm
ddtfarm 0
Peace, Barbara.
And Thomas, let's do the 35% single rate, we'll have the debt paid off in no time! Most of us won't have any extra money to spend on things like airplanes but the rich will still be rich and we can pass on a no debt slate to the next generations. Best for you and I to suffer more.
bishops90
Brian Bishop 0
Oh yeah, I forgot, it's all GWB's (and his daddy's) fault.....

You guys are dreaming. We've been part of a GLOBAL eceonomy for a long time now and you just don't seem to get that. Taxes and tarrifs will do nothing more than further depress the economic activity of this and other countries and just make the problem worse.

As far as the 35% flat tax, that would be way better than what we have now, however I favor eliminating the income tax alltogether, and implimenting a retail consumption tax (not a European VAT). Taxing income is the most backward way of raising revenue. States that have no income tax are among the most prosperous and growing states in the country. But getting anything done politically in this day and age is impossible because of the domogoguery of both sides in desperation to hold on to political power. Nobody is interested in having a real dialogue and analysis about economic policy - it's all about pandering.
srehling
Joseph Rehling 0
I thought our economic problems were caused by "We the people" expecting too much, and being willing to pay to little. We want it all, we don't care where it comes from, and we don't even care if we can afford it. The government is just a reflection of the people: Self-centered, divided, and unwilling to change. The latest American craze is to be a bunch of screw ups that blame others for the messes we have collectively made. Until we (collectively) stop expecting others to fix the country, the country will remain in the ditch. Otherwise we will just be a bunch of dope smoking, financially illiterates who can’t take care of ourselves and are waiting for someone to fix the problems. Nothing will get fixed that way.
bishops90
Brian Bishop 0
Joseph, I'm very sad to have to agree with you...
AviatorMom
Barbara Gould 0
Peace, Brian. You are entitled to your opinion, even if it isn't correct.
We have been part of a Global Economy, ever since nations began trading with each other. That has nothing to do with adding Duties, Tariffs, or VAT taxes to product that is MANUFACTURED, by American companies, looking to bust Unions, offshore. Eliminating ALL Duties, Tariffs and VATs, encourages Manufacturing to be done in any country that offers the cheapest labor, and it would NOT ruin World Economy, if we imposed "some" Duties and Tariffs on AMERICAN Corporations ONLY in order to re-train all the displaced employees who have lost jobs, to Foreign Countries.
Those Duties, Taxes and Value Added Taxes (VAT) could well pay for the re-training and perhaps partial unemployment CAUSED by those who seek to profit insanely, at all costs to this Country. GE comes to mind on that one. Every Nation we trade with, has Duties & Taxes of varying percentages....even the Bahamas charge duties taxes and Customs penalties, if Documents contain any errors ($50/Typo). We are the only slobs willing to allow this to happen, and then patting these American Companies on the backs, and allowing their product IN, and not charging them a thing. We are co-conspirators, by allowing this, in the demise of our economy....so as long as we continue down this slippery slope, we have no one but ourselves to blame, for electing those who wish to "give away our store". I rest my case.
bishops90
Brian Bishop 0
@Barb. Peace to you also my dear, but I am not incorrect.
I will never understand how it is somehow evil, or wrong for a company to seek profits. Isn't that what they do? Don't they owe that to the people whi put their capital at risk ot fund the business in the first place? Businesses are businesses and not social assistance agencies. When the cost of doing business in one place becomes too high, or the regulations become too difficult, you relocate. This is precisely why comanies are fleeing California en-mass, because of it's unfriendly attitude toward business. Politicians who see business as an endless supply of cash to fund their pet social programs and causes create an environment that make it difficult to do busniess in their state or country. The tarrifs, taxes and especially the VAT espoused by liberals will only exacerbate the problem in the long run, as they will force more and more businesses to leave for more friendly environs. You may think that is mean, or greedy, or whatever, but neither you nor I are entitled to anything just because we are Americans. If you need re-training, go get retrained on your own dime.
Your case may be rested but it holds no water.
ddtfarm
ddtfarm 0
I can see that Brian has drank his entire portion of the holy water of pure capitalism and that no amount of reality will change his mind. That is a common trait today. And yes, it was GW's fault along with all the "conservatives before him who own the majority of the current national debt(according to the CBO) - but that is reality and we are apparently involved in a drama of wishful economic theory. Just as in Congress, the reality of our current situation is not addressed because of a belief that a simple answer is available. It is this simple, in order to survive, we have to pay our obligations AND limit accumulating further ones. There has never been a pure socialism/communism state just as there has never been a pure capitalistic state, and that is reality.
bishops90
Brian Bishop 0
Again, the typical liberal defense is to completely mis-represent what those they disagreee say. Can you QUOTE anything I've said anything that remotely suggests I believe in PURE capitalism without regulation? No you cannot, because I've never said that. That is reality. The reality YOU refuse to face is that OVER regulation and OVER taxation (primarily on business profits and capital gains, has forced American companies to relocate production overseas or beyond our borders. You are quite wrong in stating that "there has never been a pure socialism/communism state" (direct quote - grammatical errors included). One exists today just a short distance from US soil in CUBA, as well as the FAILED socialist / communist states of the former Soviet Union and the current regime in North Korea. How are their folks doing?
ddtfarm
ddtfarm 0
So Brian, Thank You for grading my paper. The point of this blog is that one of the richest men in the world takes offense at one of his enterprises being disparaged (sp ? help me here). And then we see the blogging right's standard response of disparaging The President and anyone in his camp or to the left of Atilla. As we have progressed, you have atoned that indeed there is a place for government in our essentially capitalist economy. So you and I are on the same page, it's just a matter of to what extent we believe in regulation and the need for responsible government. Since you are obviously not moving to Cuba, North Korea, or Russia/Soviet Union after diparaging them, and I intend to maintain US status, we have to work effectively together. Welcome to our team! And, if you are attempting to insult me by calling me liberal, ( I prefer progressive) feel FREE since I am in the the honored company or our Founding Fathers (Where were the Mothers?)who were the Libs of their time.
bishops90
Brian Bishop 0
We've always been on the same team, we just have differing views of the management. Progressive, liberal, right, left, all the labels are simply that labels, mere semantics. I'm not sure the founders envisioned anything like the kind of all intrusive, all controlling central federal government that we have today (in fact I'm sure of it). That's why we are called the "United - States", and not simply the "Repulic of America" or some such. A quick review of the Federalist Papers and the 10th Ammendment, should give at least a hint of that notion.
ddtfarm
ddtfarm 0
I am quite certain the Founding Fathers were concerned with intrusive controlling government, far more than we have here today, hence the Declaration of Independence. Remember state religion and taxation without representation? We still do not have that here unless you live in DC. Anyway, Best Wishes to all the biz jet owners and I pray they are able to survive this torrid attack on their livelihood that no other US citizens are being subjected to. :-)
AviatorMom
Barbara Gould 0
@Brian....if there was a Cholera outbreak, in your neighborhood,
would you tell those who were affected, to get treatment "on their own dime" or would you want the outbreak stopped, however much it cost the
community? That comment about re-training, for workers who are displaced, show a selfish streak on your part, and that's okay....it's easy, when you have not been touched by "change" to make that kind of comment, but if you were one who was affected, you would be screaming loudest, for help. I have not been "displaced" and don't need re-training, but I have enough compassion for those who have been affected, to realize it is all about everyone working together, for the good of EVERYONE, and I don't mind giving my neighbor a hand UP, when I see that insane greed permeates our culture. Businesses ARE in business for profit, but that profit (blessing) should also be used for "good" as well as destruction of those who have not had the opportunities to do the same thing. Americans are NOT lazy people, some have had better opportunities than others, but as a whole, we are ambitious, brilliant, and compassionate. Have a nice Sunday.
bishops90
Brian Bishop 0
OH PLEASE Barbara, come up with a relevant analogy.

I'll not even commentn on therest with an opener like that, because that's ridiculous, and you have no idea what you speak of, or wht I may have been through.
davisdd
Dennis Davis 0
for all who believe communism or socialism is the best form of government, show me a country with those forms of govt that has reached the heights this country has. profit isn't a dirty word. helping your neighbor isn't wrong. taking my money to help your neighbor get something they haven't earn is. if as a child you didn't listen to your parents about getting a good education, it isn't society's fault that you went straight to work before learning how not to work and make good money. why is it wrong for me to work 80 hour weeks and give somethings up as a young adult so i can sit back at 40/50 and up and enjoy my life with nice toys and spending cash from my efforts, where someone else enjoyed the hi-life and spent their money. do i owe it to them at a later time in their life because they were the grasshopper and i was the ant.
bishops90
Brian Bishop 0
Well said Dennis. Adversity can be the greatest teacher if we let it and not curl up and whine about how life ain't fair!
ddtfarm
ddtfarm 0
The richest 1% is not investing in new jobs in the USA. Check out some news source other than Fox. As in my portfolio, we are invested in 30% stocks outside the USA. After the bonds, several goverment held, are subtracted the US stocks are also comprise only 30% and I am not hiring since I do not need any more headaches. I fear for our future when citizens, apparently in fear of the current US circumstances, think that only a select few of high earners hire workers. It is remiscent of the Stockholm Syndrome. Why do we tax the rich? That's where the money is, but not all the jobs. If the top 50% of wealth holders in the US hired an extra pool boy, it would be 400 jobs. If that sounds like a reasonable way exit our current morass, then Good Luck to you.

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