Professor Elam

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Warren Buffet is Wrong, Henry Blodgett too

November 26, 2012

Monday November 26 2012

Warren Buffet thinks it is just peachy keen to raise taxes even higher on the ten percent who pay 50% of all the income taxes already. He says he would work just as hard. Henrgy Blodgett thinks that is a great idea.

They are both wrong.

Most of the students have not had the privilege of paying a serious amount of money in income tax yet. I suspect you attitude towards taxes will change a bit when you do. Consdier that we have

a commerce dept that produces no commerce

an education depatment that does not educate anyone

an energy department that was created in 1979 to bring energy prices down, gasoline is $3.50 today, what do these people do?

an EPA that continues to spew forth job killing regulations which will keep your gasoline price high by the way

FHA is broke and in need of more money

And we should pay more taxes for more of this?

Consider what the well to do support in this country. Have you been to theMcNay, or the Witte, or the San Antonio Museum of Art? How about the Tobin Center or the symphony, both of which lack funding as I write. We have a wonderful library system and a famous zoo, both supported by private as well as public funding.

And if those awful rich were not sending as much to the government, perhaps they would have more left to donate to scholarships for college students.

Feeding the crocodile only means that one defers the time at which he turns on you for his next meal.

How about getting all of us on board to pay something, wtih over 50% paying no income tax, why should they care what the government does, and they don't.

Posted in Tax Burden

7 responses to “Warren Buffet is Wrong, Henry Blodgett too”

Solomon Ybarra

November 26, 2012

Okay this topic is so intresting to me because ive worked as a preparer for the past three tax seasons. At the begining of the tax season many lower income families come through the doors seeking the RAL (refund anticipation loan) because when they claim their children they automatically get way more than me (a single guy with no dependants)If it was up to me i’d say these filers get paid about $15,000 a year and when they claim their two kids the refund is around $4,500. The families of high income families usually make it to the store close to the end of tax season because they know they owe the irs and are just waiting to file since they recieve no money….is this what u are talking about???

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Ruben Medrano, Sr.

November 27, 2012

In a realistic picture try and imagine this: Years ago when we hit the $100,000 mark for the first time it was amazing to see how much in taxes we actually had to pay out. We still had all of our financial obligations because that is what a young and growing family need to survive. Even with purchasing used cars, saving extra for colleges we knew would be in our future (4 kids), medical bills, cost-of-living, etc., there was just never enough to go around. Oh, wait…the government got all they demanded, my bad. Tuff toodles to us.
P.S. Professor Elam—the really rich folks sure do speak funny. Rich, but unrealistic.

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Zachary Kelley

November 27, 2012

For every paycheck that I receive, a good chunk of taxes are taken out. On top of that we pay sales taxes, gas taxes, property taxes, cell phone taxes and so on. I still stick to a budget but the federal government has not made a budget in over 3 years. Its no wonder why we have a deficit and are in debt. We need true leadership from congress and the president. At this point we do not need to raise taxes! We need to trim entitlements, trim regulations and keep current tax rates. This will help grow the economy. Yet nobody wants to give up their free prescription drugs or free cell phone all while the previous couple administrations choose to wage wars, create more entitlements (health care….), and decrease the value of our dollar. Its sad to think the fiscal cliff will hit us within a few months to a few years regardless due to the our federal government’s neglegance! Our country would probably run smoother if we didnt have career politicians because obviously they cannot handle the power.

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Dennis Elam

November 27, 2012

Well put!

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Luis Martinez

November 28, 2012

It shouldn’t be surprising our government and those in power seek more “power.” Nor is it surprising to me that these entities have figured out a way to seek more power and convince the voting public it is for their benefit that they should have more power. Until that segment of our population is forced to pay a greater price for their, what I’ll call “laziness,” they will continue to vote for the soothsayers.

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C Kingsley

November 28, 2012

Buffet and his like are perfectly fine with higher tax’s, please note they have never said “hey just close a few loop holes and we automatically pay more tax’s”, instead they say “raise tax’s” and when they cough if you listen real closely you can hear them say “higher tax’s have no impact upon me and mine I got accountants to make sure the gov doesn’t touch a penny”. Even Mitt romney had to reduce his charity claim in order to pay his mandated “14%” or what ever. Had he taken all of his deductions he would have missed his stated claim by a over a %.
When Someone says go ahead and tax me more, you can bet every dollar you don’t have that any increase will have minimal impact upon their bottom line.

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Dennis Elam

November 28, 2012

Good points all but why does Buffet get on the Obama bandwagon, his schemes to avoid taxes in his investments are legendary, gee would i like to debate this guy!

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