Rest In Peace. David Koch.

[DayIFly]

Do you hate Buffet and Munger too?

Why should I hate anybody? Did I offend you? Sorry. Maybe I worded it incorrectly, but I think you understand fully well what I meant. As always in life there is a spectrum, and some things are in the middle where you can't tell something. But there is certainly a difference between mogul dynasties (I am not talking about anyone in particular) that have red flags all over them and people who aren't involved in anything of that sort and the next door neighbor who got rich selling dental plates. It's a case-by-case evaluation, which I won't engage in after it goes past my arbitrary cut-off point because it's a hassle, PR firms get involved to counteract haters or criticsm and it ends up feeling artificial. I don't like drama, I could just as well watch the Kardashians. I don't. In regards to Buffet or Munger, I'm not particularly interested in them. But I don't hate them, I don't know them, I simply don't care.

 

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[Kak]

The reason I like the Kochs...

They are billionaires like Buffett, Munger, Gates, Bezos, Dalio, Dimon, Trump... But unlike those assholes... They don't pontificate about income equality, engage in class warfare, push for higher taxes or want to turn us into a socialist oligarchy. They support policies that actually free up the rest of us so we can attempt the same.

To me it is morally reprehensible to argue for higher taxes and regulation after they already made their money.

You all should check out Americans For Prosperity. A Koch charity. Look at their campaigns against occupational licensing. They are literally the least hypocritical billionaires on earth. They want you to do well for yourself.

 

[Tourmaline]

@DayIFly It's just your tone, but very well.

 

[TheCj]

The reason I like the Kochs...

They are billionaires like Buffett, Munger, Gates, Bezos, Dalio, Dimon, Trump... But unlike those assholes... They don't pontificate about income equality, engage in class warfare or push for higher taxes... They support policies that actually free up the rest of us so we can attempt the same.

To me it is morally reprehensible to argue for higher taxes and regulation after they already made their money.

You all should check out Americans For Prosperity. A Koch charity. Look at their campaigns against occupational licensing. They are literally the least hypocritical billionaires on earth. They want you to do well for yourself.

Isn't the Buffet, Gates thing for higher taxes just lip service for publicity? Doesn't Buffet pay himself a very low salary a year? If he wanted to pay more taxes he could easily accommodate that. I just figured they had different motives to support these causes. Again if Buffet especially wants income equality he could easily raise the salaries in all the companies he has ownership of.

 

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[G. Wellthy]

Isn't the Buffet, Gates thing for higher taxes just lip service for publicity? Doesn't Buffet pay himself a very low salary a year? If he wanted to pay more taxes he could easily accommodate that. I just figured they had different motives to support these causes. Again if Buffet especially wants income equality he could easily raise the salaries in all the companies he has ownership of.

It’s not lip service (I don’t believe) because Buffet is advocating for a wealth tax. Regardless of income, you would get taxed on your total capital base.

A wealth tax above say, $100 million, or even $1billion, would more likely result in wealth fleeing the US then help the masses.

I believe the US setting taxes competitively with the Irelands and Barbados of the world does more to help America than a wealth tax ever would. And this helps us grinders more as well.

 

[MattL]

Interesting how one forum can have the complete opposite reaction to something than another.

Or maybe that's not that interesting.

Oh well lesson learnt.

 

[SpongeGod]

I like this forum a lot more than reddit. Less whining people.

 

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[Tourmaline]

Well the super rich pandering to the working class is wisdom for helping keep things under control.

It's impossible to know if they genuinely believe what they're saying, versus saying what helps keep the system running.

 

[TheCj]

It’s not lip service (I don’t believe) because Buffet is advocating for a wealth tax. Regardless of income, you would get taxed on your total capital base.

A wealth tax above say, $100 million, or even $1billion, would more likely result in wealth fleeing the US then help the masses.

I believe the US setting taxes competitively with the Irelands and Barbados of the world does more to help America than a wealth tax ever would. And this helps us grinders more as well.

Doesn't that make it even more ironic, that Buffet pay's himself such a low salary to avoid taxes. Yet he wants them to tax him a different way. Instead of advocating for them to close the loop hole that lets him pay himself so little.

 

[G. Wellthy]

Doesn't that make it even more ironic, that Buffet pay's himself such a low salary to avoid taxes. Yet he wants them to tax him a different way. Instead of advocating for them to close the loop hole that lets him pay himself so little.

Also ironic that he’s donating almost all his net worth after death. He should donate it all now. Or you know, pay more taxes.

 

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[G. Wellthy]

Come on... Why lie about something that's so easy to verify?

Buffett has made HUGE chartible donations every year for the past 14 years...since 2006, he's has given away over $34B:

How Warren Buffett Made Berkshire Hathaway a Winner

Berkshire Hathaway is one of the most coveted companies and stocks in the world, thanks to the investing prowess of Warren Buffett.

www.investopedia.com

He's also pledged ANOTHER $37B after his death, but that doesn't detract from the fact that he's given away nearly half of his net worth in the past decade and a half.

@G. Wellthy - What is so bad in your life that you feel the need to negatively judge someone who is trying to help humanity by essentially donating their entire net worth during/after their life (regardless of what you might feel about their politics)?

Yikes that’s incredibly misinformed of me. Not intentionally lying. I’ll wear that for awhile. And I’ll reflect on what that says about me also.

I’ll save any further thoughts about philanthropy and taxes for a time when I don’t look and feel like such an idiot.

 

[lowtek]

I always find it fascinating that people get so wrapped up either deifying or vilifying the rich and powerful that they forget to ask the most important question of all: how can I replicate what they did?

Even in the case of those that are "born into money" and turn $1M into $1B... what was the process they used? How could I turn $1,000 into $1M?

 

[NCNY]

I always find it fascinating that people get so wrapped up either deifying or vilifying the rich and powerful that they forget to ask the most important question of all: how can I replicate what they did?

Even in the case of those that are "born into money" and turn $1M into $1B... what was the process they used? How could I turn $1,000 into $1M?

Easier to complain and cry than actually do some action.

 

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[Kak]

It’s not lip service (I don’t believe) because Buffet is advocating for a wealth tax. Regardless of income, you would get taxed on your total capital base.

A wealth tax above say, $100 million, or even $1billion, would more likely result in wealth fleeing the US then help the masses.

I believe the US setting taxes competitively with the Irelands and Barbados of the world does more to help America than a wealth tax ever would. And this helps us grinders more as well.

Bingo... Since when has higher taxes EVER produced a better outcome for the masses? That idea spun by the tax and spend politicians... It is yet to be proven that our money is better off in their hands than ours... People still take their word for it though.