Warren Buffet

[purepolaris600]

buffet

warren buffet he worked hard all his life i give him that but alot of the things he stands for is bull s**t raising taxes on the wealth i dought he really beleives that, he just says that to keep poor people off his door. it is like this when you buy a new snowmobile what would you rather buy, a new sled for 10,000 with 20% tax for 12,000 made in canada or a 10,000 sled with 50% tax for 15,000 made in usa pick one if it were me i would pick the first one. after warren made all those statement i will never buy anything from componys he owns.

 

[polaris dude]

Xrated, but I doubt he has to worry about it himself he probably has other people to worry about it. I am positive at the beginning when his company was small he had these worries, but now? not so much. I am sure to a certain degree there is still stress and difficult work, but again, not like his life depends on it. Hes got so much money he could go to banks and get cash and try to give it all away to as many people as possible for the rest of his life and he probably wouldn't be able to give away all his money before he dies.

The only negative thing I can think about Buffet is the fact hes stashing billions of dollars away instead of spending/using it and helping keep the economy moving.

 

[SSWIM]

Polaris Dude, absolutely no bash toward you, but the stress and mental output in managing the investments and companies in which one like Buffet does daily is exponentially more taxing on ones self than physical labor. Sure he delegates many duties and responsibilities to others, but in turn he still has a handle on many things.

He has as many concerns and issues as the rest of us. Why do people think large amounts of money buy stress free lifestyles?? Perception I guess.

Anyway, again no bash, just my humble opinion.

Sam

 

[polaris dude]

well, I guess I have never been rich beyond belief, but I assumed that if you have to worry about if your going to have enough money to feed your family is much more stressful than worrying if you can get just a little bit more money in the savings account.

But yes, your correct I have no idea how stressful it is to be rich since I am a college student.

 

[Ed Fast]

Buffet

I have no idea how much cash Buffet has as the info we get in net worth. I know he spends lots and lots of his money everyday and is still buying up stuff all over the place. I have some brk stock as I believe he is a very smart man. The difference in my mind between him and a lot of other people is that he is motivated and that in itself induces stress. I would guess that that guy works harder than most people, including the ND roughneck. I find it on the brink of insulting to the free market that one would even suggest or try to compare a general labor position to the guy who started Berkshire. He knows how to make money. If you took everything away today he would be wealthy again within a few years. I agree that there are alot of hard working people out there but physically hard work, vs a mentally hard lifestyle are two very different things. As far as giving money to schools I do not believe buffet is correct. If rich people are to fund schools then who has all the pull? Who's kids get pref treatment? Just seems like a bad idea. I say let the free market have a crack at it. The fed has done a good job messing it up over the last forty years. Society is to blame if you ask me, I see all these people with bad kids talking about what a dick the teacher is and how they are going to go the the school board and get them in trouble. If I was an jurk towards a teacher I would have to deal with it at home. Now we have 2 parents and a kid yelling at teachers. Something is amiss with the current school system. Just my 2 cents.

 

[ruffryder]

warren buffet he worked hard all his life i give him that but alot of the things he stands for is bull s**t raising taxes on the wealth i dought he really beleives that, he just says that to keep poor people off his door.

Based on the rest of the way he lives his life, I really doubt that is the case.

Is this a case of "I can't understand why he would do this, so it must be for an evil reason." type of situation?

 

[xrated]

Based on the rest of the way he lives his life, I really doubt that is the case.

Is this a case of "I can't understand why he would do this, so it must be for an evil reason." type of situation?

I think it is.

 

[ruffryder]

As far as giving money to schools I do not believe buffet is correct. If rich people are to fund schools then who has all the pull? Who's kids get pref treatment?

I don't know.. I think these days it tends to be a self fulfilling prophecy of sorts. Rich people go to better schools, graduate to good jobs, in tern giving more back to the schools making them better, for their kids to graduate and get good jobs....

Maybe the issue is that the people that are wealthy and that have influence / power would be more interested with the problems of the school system if their kids had to actually be in it.

Just some ideas though...

Society is to blame if you ask me, I see all these people with bad kids talking about what a dick the teacher is and how they are going to go the the school board and get them in trouble. If I was an jurk towards a teacher I would have to deal with it at home. Now we have 2 parents and a kid yelling at teachers. Something is amiss with the current school system. Just my 2 cents.

agreed completely. Lots of people blame teachers for everything... like lack of morals and work ethic. School are there to teach information and how to learn information. Nothing to do with right / wrong, moralities and work ethic. That is what you are supposed to get from your parents.

Parents, you be slacking!!!

 

[Ed Fast]

buffet

Oh he believes it. Right or wrong he does honestly believe in a graduated tax system!!

 

[Ed Fast]

buffet

I don't know.. I think these days it tends to be a self fulfilling prophecy of sorts. Rich people go to better schools, graduate to good jobs, in tern giving more back to the schools making them better, for their kids to graduate and get good jobs....

Maybe the issue is that the people that are wealthy and that have influence / power would be more interested with the problems of the school system if their kids had to actually be in it.

I would tend to agree for the most part. While trying to digest this I found myself in the nature vs nature debate and really have no answer as to why some people work hard and save hard while others are perfectly comfortable sitting at home living off the fat of the land. Maybe some people grow up poor and hate it so bad they will stop at nothing to achieve while some wealthier people could care less. IDK I see it both ways. Maybe it is just how we are wired, some to make and some to take. Hell IDK

 

[polaris dude]

I don't think its the school that matters in who learns the most/who gets the best jobs its the PARENTS! the parents who are rich realize how important school is and push their kids to do better. I don't think its as much of a money thing as it is how you raise your kids to treat school. Most people all have the same ability to learn, for some its just not their priority.

 

[ruffryder]

I don't think its the school that matters in who learns the most/who gets the best jobs its the PARENTS! the parents who are rich realize how important school is and push their kids to do better. I don't think its as much of a money thing as it is how you raise your kids to treat school. Most people all have the same ability to learn, for some its just not their priority.

I would agree, though I think that money does play into it. Otherwise MIT and Harvard would be the same as the local colleges.

While trying to digest this I found myself in the nature vs nature debate

I am going with nature for the win.... lol.. jk

Good point though.

 

[2XM3]

For such a pro more tax fellow it is quite interesting that his firm still owes over 1 BILLION in back taxes from 2002-2004. If you really want to pay more just write a check to clear that up, why are they still draggin it out in the courts for 10 years so far, costing taxpayers millions in legal fees ?? Maybe thats his way of adding jobs ?? lol

And remember that each of his children recieved 10 million when their mother passed,and 1 million every 5 years after their 40th birthday, they also recieved 1 billion each to put in their own Charitible remanider trust,(already) this trust pays them a salary to run it, plus they can if they wish draw up to 5% of the value of the trust every year as interest income taxable at 15%, it is a very smart move on buffets part to avoid paying the goverment inheretance tax of 55%. So really with each chlid recieving a maximum of 50 million a year if they need it I hardly think hes leaving them as paupers.(So true hes not leaving anything to them when he dies)

Bottom line is he does some great stuff and works the system quite well by leaving his money to whom he wishes instead of the good ol usa. But hey good for him, just don't act like you want to pay more, there is in fact no law stating you can't pay more tax on your own....they won't even penalize you for it........

 

[ruffryder]

For such a pro more tax fellow it is quite interesting that his firm still owes over 1 BILLION in back taxes from 2002-2004. If you really want to pay more just write a check to clear that up, why are they still draggin it out in the courts for 10 years so far, costing taxpayers millions in legal fees ?? Maybe thats his way of adding jobs ?? lol

He stated that the individual tax rate should be changed, not the taxes the businesses pay.

And remember that each of his children recieved 10 million when their mother passed,and 1 million every 5 years after their 40th birthday, they also recieved 1 billion each to put in their own Charitible remanider trust,(already) this trust pays them a salary to run it, plus they can if they wish draw up to 5% of the value of the trust every year as interest income taxable at 15%, it is a very smart move on buffets part to avoid paying the goverment inheretance tax of 55%. So really with each chlid recieving a maximum of 50 million a year if they need it I hardly think hes leaving them as paupers.(So true hes not leaving anything to them when he dies)

Interesting. Also, I have searched for this info, where did you get it from?

 

[2XM3]

There was a pretty good article on it when the charities were set up,quite some years ago...ill see if I can find it for you.

heres a very brief article about it,just skims the surface. the one I read years ago went into great detail on how to avoid estate taxes,using Buffet as a prime example.

http://www.fastcompany.com/magazine/138/daddy-givebucks.html

heres another tidbit http://fskrealityguide.blogspot.com/2010/09/warren-buffet-likes-estate-taxes.html and http://voices.yahoo.com/10-reasons-why-warren-buffet-ignored-on-8979375.html