In response to:

Buffettitis -- Is There a Cure?

James2229 Wrote: Nov 29, 2012 9:14 AM
Well, the Brits are getting a taste of what the Buffitts of our world do when they try to draw more money out of the wealthy. Suddenly the numbers of millionaire Brits have dropped by 2/3 and the rest of them are wrangling their incomes so that they are now getting less that the million pound annual income that forces the 50% tax on them. So, all that planned revenue Parlement was licking its chops over has flown the coup. Now, other countries with wiser governments are reaping the benefits of having new emigrants that speak the Queen's English as their 1st language and need to learn a second language. Soon there will be rioting in the streets, cause there is even less money in the coffers than they had before.

Once again, billionaire investor Warren Buffett urges his fellow high-on-the-hoggers to pay more in taxes. "Only in Grover Norquist's imagination," says Buffett, do taxes make much of a difference in how people invest. "So let's forget about the rich and ultra-rich going on strike and stuffing their ample funds under their mattresses if -- gasp -- capital gains rates and ordinary income rates are increased. The ultra-rich, including me, will forever pursue investment opportunities. ...

"We need Congress, right now, to enact a minimum tax on high incomes. I would suggest 30 percent of taxable income between $1 million...