In response to:

Buffettitis -- Is There a Cure?

rreid Wrote: Nov 29, 2012 9:17 AM
Buffett has gone bonkers! Even so he is not talking about $250,000 a yr. wage earners, but actual millionaires and billionaires. I remember a conversation I had 10 or 12 years ago with a relative who worked as a auto dealership parts manager, having worked his way up from parts delivery 25 years earlier. He marveled that he was making nearly $200,000. He marveled even more that this figure had not made his any easier and his family still lived pay check to pay check. For we that live in fly-over country, he lived in a high cost of living coastal region. The point is that $250,000 ten or twenty years from now can catch a whole lot of folks who think it does not apply to them!

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...