NEW YORK (CNNMoney) – Warren Buffett will host a fundraiser for President Obama next month in New York City, the Berkshire Hathaway CEO told CNNMoney on Thursday.
With the 2012 election season just around the corner, the campaign to put Obama back in the White House for a second term is well underway - and it's not unusual for the campaign to boost the president's drawing power by allowing him to share the stage with a well known benefactor.
Maybe the old geezer will take that as an opportunity to pay more taxes at an ordinary income tax rate rather than at lower dividend and capital gain rates. Rich, fat cat liberals are all the same, they talk about making other people pay more taxes but take every opportunity to minimize their own tax payments. HYPOCRITE!!!!!
Even with Warren Buffett's money Obama will not be able to buy his way around his record or results since 2009. American voters see that when they made themselves clear in 2010 it wasn't long before the 2011 federal budget was cut by $100 billion. With Obama's debt spree still getting America downgraded the voters know how to do what's needed in 2012. Another Obama Administration would just keep taking the country in the wrong direction.
RudyNYC: Aren't they "really dumb" all of the time? Just sayin'.
Buffet is correct that some of the rich are not paying enough taxes, and also some bossiness like GE who made billions in profits and paid no taxes.
But just increasing the tax rates or getting rid of loop holes for just the oil companies will not fix it.
The rich that are not paying taxes are those who are making excessive use of tax loop holes. But many are not abusing tax loop holes and are paying more than their fair share.
Just raising rates won't have much if any impact on those ducking taxes by using loop holes, it will just force those already paying their fair share to pay even more.
Tax reform that gets rid of the loop holes and lowers rates is the answer. If done correctly, if will be tax neutral to those who are not making excessive use of loop holes and force those who are to pay a lot more taxes. This is true of both individuals and business. This way a business like GE that paid no taxes would have to pay in like everyone else. This is more fair than just raising rates or picking on one industry the left hates. This is the type of revenue increase through tax reform that Boehner and Obama agreed on when they were trying to put together a debt ceiling bill. Boehner did not walk away because of increased revenue from this kind of tax reform. He walked away when Obama wanted to alter the deal and ask for more in flat out tax rate increases.
The truth is the rich as a group already pay a far greater share of the taxes collected by the Federal government, even with the loop holes. But some of the rich and some businesses are not paying what they should because of excessive use of loop holes. Tax reform is the fair way to increase tax revenue and get everyone to pay their fair share.
Not all, but many Republicans support this knd of revenue increasing tax reform. If Democrats are willing to compromise with Republicans on this we can clean up the corrupt tax code and generate increased revenue for the Federal government.
Told ya, Buffett was a Dem, and an Obama disciple. That was the ONLY reason, he said "tax the rich". The ONLY reason.
Rudy, Let's see if we can stoke the liberal ire a bit as well. Obama has set a goal for $1 Billion dollars to launch a campaign as an incumbent. He wants to spend more than any of the GOP candidates, despite having the distinct advantage of a presumed nomination. He must feel very insecure about his record as an incumbent to think it will take a billion dollars to convince us to vote for him again. It's hard to tell if liberals get dumb when they're angry, since they always seem quite dim. If I were a liberal and my poster boy thought it would take a record amount of money to win a second term, I'd be pretty upset. Of course I wouldn't be able to tell, because I'd be a moron.
Buffett makes billions on wall street. Ever wonder why he still supports Obama?
Money will buy you anything. Even presidents!
Hmmm... Since Warren will be in the same building as President Obama, I can't wait for the current crop of Reactionary Republican Presidential candidates and Quitter "Media Junkie' Palin to call Buffett one or all of the following:
Commie, socialist, terrorist sympathizer, islamist, treasonous, hater of white people, supporter of death panels, America hater, job killer, liar, hates corporations (I mean people), union thug, Black Panther, illegal immigrant supporter, tax-and-spend Liberal, baby killer, anti-Christian, climate change believer, an "un-American" who doesn't "understand" America and who has "foreign" ideas, born in Kenya, wants to destroy America, likes to drown kittens and puppies, plays golf, and finally – takes too many vacations.
i hope obama uses the $1 billion to blow the koch brothers, hannity, limbaugh and all the other far right wingers 100 miles away
Make SURE to eat your heart out haters. Our president will be re elected for a second term and will go on to be remembered for all the GOOD he got accomplished without the help of the republicans.
Barack Obama = 1
GOP candidates = 0
If you have one of the world's most successful investors backing you up, you're a winner. Anything less is elementary, dear bloggers.