Warren Buffett Crushes Republicans On Taxes

worry about it but i was speaking about um... corporate taxes and i thought he me some terrific points uh... actually was sort of fifteen continuing to push this we did get a lot of questions presumably from shareholders want one again there was from david devall and said that having political positions are part of a black but for the life of the i cannot understand what the c_e_o_ of a publicly traded company what antagonize roughly half of the political power in this country don't you have a fiduciary responsibility to shareholders not to get into such public an antagonistic debates no matter what your political views might be it seems even democratic shareholders would prefer you move to the sidelines of the political debate no i i don't think if you're a c_e_o_ the cube police in a blind trust i mean i don't think you give up your citizenship we have two hundred and seventy thousand people who work for berkshire there's not one of them that i've ever asked about their political views or there's not one of them i've told in any way to refrain from expressing their beliefs whether their religious beliefs are political beliefs and i think that my cleaning lady does not have a voice she doesn't have a super pack she can spend ten million dollars trying to influence you know under free speech and free speech for her something being read about in the first amendment it doesn't mean a thing i do have some kind of a ability to speak out and i think that that you have the ability to speak out and you see things with you later on i think you ought to do wanna talk about it and it's funny how when c_e_o_ of ceos the young people lower taxes less regulation more pollution that's all ok all absolutely go forward relaxes says he let me speak for the voice was for the powerless so that there's some equity in the country all the sudden of at as mister fiduciary duty how bday argue i love that point uh... warren buffett made and i'm glad that he is speaking out on these missions elicia metaphor though this is a little bit tongue-in-cheek but is their attacks you don't like this was then that that's where the game that we think improved when did this start and here where there's another side of the balancing witness a people like that would likely tracks i've got my tax return here from what i was working that day seven dollars and i can tell you that but i did not like ten percent of the horrors of that dot now i i the reality is that we are going to have to raise night eighty tapper nineteen percent of g_d_p_ rather it is an ad i certainly think that the people were very wealthy should do more than the people like my cleaning lady etc i'm not gonna like it you know what i said i write the check for whatever baby i'm not gonna like it but i'd also like this country and i think that what this country office is wonderful and i think a very rich country should take care of the people to get the short straws in life so i i believe in things like social security which is paid for by texas i'd believe that a good public school system which is paid for by taxes again and this is an absolutely love news because nobody likes paying taxes i don't like peter a special right pain 'cause i know some of something close to like these needless wars that we have but people going to pay those taxes should the middle-class pay more sugar rush pay more under our current system mit romney u_s_ quarter billion dollars face thirteen percent tax is they got in eighteen thirty six thousand dollars pays twenty five percent in taxes nearly twice as much as mit romney why doesn't have the payment you know he doesn't have the lawyers who doesn't have the accountants etcetera it's unfair and what the buffet is saying here's indisputably true you can't have the rich paying the least it's just a gross injustice how about chris christie said all well why don't you just a more bombs let's see how we address that before i don't think he's screaming to be taxable inauspicious write a check and shut up really existed should be about that i mean you know it effected batteries dot on tired of hearing about it if she wants it to the government more money he's got the ability to write a check go ahead and write it there were a lot females that came in that similarly ako what chris christine at the same well hope there were more eloquent adventure you know it it's it's it's it's sort of a tragic response to at one point two trillion dollar deficit has been some of the american people will just also had the chance to take care of it that was first come up with deliverable that was sort of a couple at at i_b_t_ epcot uh... at the start of astounding to me that somebody that has the responsibility for being the minority leader in the senate would think that attack a one point two trillion dollar so deficit by asking for voluntary contributions up since he got offered a trickle has but that that's that's that's a side show yet and by the way emmys for example it would not uh... give those wilder transmissions insult will warm bottom i was saying it and there if is mcconnell does it bother you strobel them out shockingly enough the republican senate chose not to ec thereby proving buffets blake voluntary contributions is it going to raise you a lot of money it's a rhetorical trick that they use with political news it was recently quoted below that is in his point his point is the list everybody does it together we're not going to be able to handle the deficit problem and i'd like to republicans warren buffett actually cares about the deficit whereas republicans don't give a damn about the deficit in fact romney's plant gingrich's plan as central as planned would all all add to the deficit anywhere between two and a half trillion to seven trillion dollars it would pile on top of the deficit white because they all gave gigantic tax cuts for the rich on it one last look more involved there's an op ed in in today's wall street journal by rick santorum laying out his economic agenda any proposes some new tax rates and policies on corporate taxes that he's having them down to seventeen and a half percent anton personal life he's doing just checked your brackets ten percent twenty eight percent of terrace of beyond just the same symbols debate whites numbers are what are the right brackets what the range should be is our rates that bring in eighteen and a half or so per cent of g_d_p_ as revenue out we've had breaks like that brought most of the post-world war two period uh... we managed to pull out it's not impossible and that we just got better coverage of roughly uh... ten years ago or less af anything about the corporate rate is the corporate profits as a percentage of g_d_p_ last year the highest or just about the highest in the last fifty years they were ten and a fraction per cent how do you think that's higher than waiting in fifty years the taxes as a percent corporate taxes up as a percentage of g_d_p_ were one point two percent a hundred eighty billion just about the lowest leasing so are corporate tax rate last year effectively in terms of taxes paid the united states was around four percent which is well below all those existing and and most of the industrials industrialized uh... centers around the world stalinism that stuffy about operations are paying thirty five percent of unlike a i'd he is a hundred resentment about that an aircraft active tax rate is four point one percent in fact thirty top corporations between two thousand making twenty ten had and negative tax rate negative tax-free we gave them one back that's out rages gets worse with their effective tax rate these different industries industrial industries two point five percent utilities is three point seven percent white house thirty five percent it's nowhere near financial corporations are about fifteen imap percent and berkshire hathaway warren buffett's group is also between fifteen and sixteen percent and the and they're above the national average wells thirty five percent nobody's paying thirty five percent and in general electric electric that they didn't take between all eighteen twenty ten they paid me factor tax-rate pub negative thirteen and a half percent we gave them back billions of dollars why 'cause they've got a c towns they can fix the system and then they go around may have been nerve to complete their corporate taxes or low enough because there is no end to their greed somethings i disagree with warm baldwin on but is saying one of them is a hundred percent right reasonable tax free that gets us to a balanced budget i don't want something above that he doesn't want something about that we just want to get to that point what would you be actually paid for public schools you know cops teachers in satara pay for the things that we need to pay for as a society and we're nowhere near the way that we have a right now corporate an individual income taxes clearly have to be rates and more about that is a great spokesperson for in this regard credit where credit is good