The Real Reason Warren Buffett's Taxes are Low
By Peter J Reilly Warren Buffett was in the New York Times today bragging about his low effective tax rate and saying how he would like to be paying more. Fellow Forbes contributor Tim Worstall weighed in quibbling about Mr. Buffet not factoring in the corporate taxes on Berkshire Hathaway's earnings. I'm just a simple CPA, whose firm won't even let him sign audit reports anymore. (That's true of all tax partners here by the way. I don't take it personally). I don't want to quibble with a quibble but apparently economists have a hard time figuring out the incidence of the corporate income tax (i.e. who is really paying it), so I think we can let go of that piece of the analysis.
Still Mr. Buffet is not sharing the real reason that he doesn't pay much in the way of income tax relative to his great fortune. The secret is hidden in plain sight. Mr. Worstall alludes to it when he mentions that Berkshire Hathaway does not in fact pay dividends. Mr. Buffet's secret which you can find blasted all over the Internet is one of his famous quotations:
Our favorite holding period is forever
You only pay income taxes at any rate on realized appreciation. An investment with a holding period of forever incurs a capital gains tax of 0%, while all along the holder can be getting wealthy from appreciation. That's the real reason Mr. Buffet does not pay a lot of income taxes. (end of article)
Z: This fascinated me because I heard what Mr. Buffet said on Monday about how he only pays 17% in taxes and the rich need to pay more, when most of us know the 'rich' pay the huge bulk of American taxes.
By the way, if Mr. Buffett wants to pay more, what's keeping him from it?
Z
Z: This fascinated me because I heard what Mr. Buffet said on Monday about how he only pays 17% in taxes and the rich need to pay more, when most of us know the 'rich' pay the huge bulk of American taxes.
By the way, if Mr. Buffett wants to pay more, what's keeping him from it?
Z
273 comments:
«Oldest ‹Older 201 – 273 of 273Beamish,
Pulling Aunt Sally's respirator plug tomorrow is an irresponsible, careless and cynically dangerous plan.
But it isn't Aunt Sally's respirator plug. SHE DIDN'T PAY FOR IT
As Mr. AOW's medical proxy (I have the necessary papers), I forbade the ICU from intubating him. The same with the feeding tube. Those were issues that he and I had decided upon back in 1993, a few days in advance of his brain surgery.
I did the same for my dad (age 86.5) -- no respirator, I mean. I had the necessary papers, and Dad and I had discussed end-life matters numerous times, as recently as 4 days before I denied the respirator.
Now, I did have one helluva struggle avoiding being forced into welfare and into doing something that Mr. AOW had long ago said not to do. You may have read that essay in the above link. The fact is this: once the catastrophic medical event occurs, what the healthcare system does can be out of the control of the ill person and of the family, too. I was not allowed to bring Mr. AOW home from the second hospital. Not allowed! They didn't give a damn about that -- even if we had the assets to do nursing-home care at home. They threatened me with adult protective services!
AOW,
Now, I did have one helluva struggle avoiding being forced into welfare and into doing something that Mr. AOW had long ago said not to do. You may have read that essay in the above link. The fact is this: once the catastrophic medical event occurs, what the healthcare system does can be out of the control of the ill person and of the family, too. I was not allowed to bring Mr. AOW home from the second hospital. Not allowed! They didn't give a damn about that -- even if we had the assets to do nursing-home care at home. They threatened me with adult protective services!
Thus is the nature of central economic planning. We're statistics, not people.
They can thump their copies of Hayek's "Road to Serfdom" at Tea Party rallies all they want, but at the end of the day, they'll all revert to their national socialism and ask me to pay to perpetuate their mistakes in progress.
Like I said, I'm tired of hearing freeloaders tell me to "pay my fair share."
Beamish,
The economy sucks. I know that your employment "situation" is horrific.
Come to Washington and get government job [sarcasm]. I know that you won't do that -- I didn't either.
I had a car wreck in 2005 that has all but rendered my left arm useless. I'll need tendon surgery on it someday.
Don't wait too long for that surgery if at all possible. My cousin had such an injury and waited too long; he never regained use of the arm well enough to work his career (barbering). He died a few years later at age 49 --having been denied Social Security disability. SS advised him to re-apply on the basis of alcoholism as opposed to his osteogenesis imperfecta. He'd have been approved for the alcoholism. Go figure.
I never expected to need Social Security. Neither did Mr. AOW. We planned, we sacrificed, we postponed traveling to Europe. We'll never travel now, of course.
What has changed our situation is not only the medical problems themselves but the damn insurance premiums. We are automatically disqualified from the much-touted-by-Obama high risk pools because we have paid into the health insurance industry. We can't take the risk of not having health insurance -- even for the six-month qualifying period. If we lose any more assets, we won't be able to survive financially.
I want to emphasize something the nursing home social worker said to me: "Isn't there a pool of money we can get?"
I replied, "There isn't a pool of money you're GOING TO GET." Yeah, I got nasty -- nastier than that during that conversation. If not for having a lawyer, the nursing home would have taken us to the cleaner's!
The economy sucks. I know that your employment "situation" is horrific. Come to Washington and get government job [sarcasm]. I know that you won't do that -- I didn't either.
Heh. Don't we all work for the government once you account for taxes?
I've always been a frugal saver and had a "survivalist" mentality. There was a time I treated a savings account as a monthly bill to pay. I wiped that out in 2009 when having a job stopped being a sure thing for me and most Americans. Had it not been for the money I had in the bank when I first became unemployed - and stayed unemployed because there was no new job to start - I would have probably been homeless. I've been homeless before. It ain't fun. My 401(k) is doing alright, but I've raped the hell out of it to stay moderately solvent. It's no where near what it used to be. It's better than it would be if I had stayed in the stock market. I don't expect to recoup that lost savings.
Still, through no fault of my own, unless some wondrous economic growth miracle occurs (a la Reagan) in the next 25 years, I'll be scrimping by in that same Social Security / Medicare system I want to destroy, and I too will be consuming what I didn't pay for if I live long enough.
I look at the primary causes of America's public debt obligations and the increasing worthlessness of the American dollar and all the out of control costs of living and have to find the cause of both the debt and the toilet the economy is in driving down the value of the dollar, and the #1 perpetuator of America's economic ruin is social spending. The debt - and the inability to pay it - is exacerbating the problem further.
Why? Not because I'm not paying enough into the system, but rather because my elders took and are currently taking more out of the system than they EVER paid in.
Most of them have already gotten back what they paid in and then some. We could write off a HUGE chunk of America's obligated public debt RIGHT NOW by simply acknowledging the elephant in the room - the goverment lied, suckers.
Why should I live at the rationing government's mercy and discretion because elder generations CHOSE to do nothing about it when they had time to do so? Why should I perpetuate that, condemn myself to that, doom the next generation to that?
Something's got to give. I say we send the bill back to the takers. Sorry Baby Doomers, the party's over.
Beamish,
Still, through no fault of my own, unless some wondrous economic growth miracle occurs (a la Reagan) in the next 25 years, I'll be scrimping by in that same Social Security / Medicare system I want to destroy, and I too will be consuming what I didn't pay for if I live long enough.
The sad reality for so many of us as we are not members of the elite. The gap will continue to widen, too.
PS: Check your email.
But the employer match ISN'T "what you paid in all your life."
Then who paid it Sh*t 4 brains?
IT WAS PAID as part of MY compensation by MY employer (who was also myself)for MY WORKING. I EARNED IT. Had it Not gone to Social Security as a TAX, it would have gone into MY BANK ACCOUNT.
Stupid has a name, and it's BEAMISH!
YOU are NOT PAYING IT! YOUR GENERATION is NOT paying the match. IT HAS ALREADY BEEN PAID!
G-d Your dumb. You make Bd look like a genius in comparison.
So, you shouldn't have to raise my Social Security taxes at all since you have it all covered, huh?
Who's raising your Social Security OASDI tax?
Answer - No one. They're cutting MY and YOUR future benefits. What part of the Ryan Plan don't you get? You're going to get back even LESS back then your going to pay in. So am I. Deal with it. Man up. You're squeeling like a little girl being f'd by the government for the very first time.
btw - You'll personally never come CLOSE to paying in what I'VE PERSONALLY ALREADY PAID IN. So stfu, already.
There is no math that will make the total accumulation of a current retiree's career of paying Social Security taxes come anywhere near what they'll get back from Social Security or leave to their spouse when they die.
Not true. Look at the 2010 retirement line (my 8/17 @ 12:22 pm post). You PAY more than you GET. I PAY more than I get. Live with it. Life isn't "fair". It's called "progressive" taxation.
Most health benefits, retirement benefits, etc. originated during the war.
As an ex-Merchant Seamen, I've had MY wages docked since 1789. In fact, in 1977 I spent time in a USPHS Hospital in San Francisco after being injured on a ship and deported from Japan.
So please, NOT EVEN THE FOUNDERS were as PURE as you think we need to be.
You're crying about water that went under the bridge DECADES ago.
Ida Mae Fuller was 100 years old when she died. And she died 36 years ago. I helped pay out her last two years. YOU NEVER did. She died when you were 5.
...and WAR is a "time for socialism".
There is a time for everything, YOU said. Well... THAT was its' time.
That we weren't "smart enough" to get rid of war-time appropriate programs during a time of relative peace is just a mistake that needs correction. You'd have us a believe that there is NO time for socialism. There is.
Cyclopian "conservative" principles would lead the nation to extinction, just as cyclopian "progressive" principles would.
Deal with it.
Think of it as part of the long term cost of the nation surviving WWII.
ps - There are going to be a LOT of vets needing care and treatment for wounds, disabilities, PTSD, etc. for the next 60+ years.
A LOT of them are going to apply for and RECEIVE disability pay/comp that will be unrelated to their service experiences. Most won't see that comp as "fraud", but "Cause" and Effect" are some pretty nebulous medical concepts, and so the cracks in the system will be wide open for anyone who is willing to look for them and will err on the side of the Vet.
Sue, you printed:
"Blue states, shut up. City dwellers, shut up. Europeans and their friends, shut up. Hollywood,
shut up. Democratic senators, shut up. Critics of the Iraq war, shut up. Secular thinkers, shut up. Pro-choice advocates, shut up. Poor people, shut up. Gays, shut up.
Democracy, shut up."
HE is a Republican!?
Republicans don't want anybody to shut up, we want the respect that our leftwing media and politicians just might listen to us, too.
Without that, he's right, Democracy is shutting up.
Especially when a VP like Biden tells the Tea Party they're terrorists or John Kerry suggests the media shouldn't cover them?
WOW.
Thersites, would you go for a law that says people can't receive SS if they are retired with more than, say, a million dollars?
Absolutely. And there no real reason why those who pay more should get more. OASDI should be an "insurance" safety NET, not a hammock for someone with an already flush 401K. Individual circumstances do vary, but the bribe swallowing lords will always use this fact to collect their "commissions" from "contributors" to rig the game.
Reduce future benefits. But also, give people the opportunity to prepare for the reductions by allowing them to contribute to a ROTH IRA for a few years before simply throwing them off life support.
The "throw all the bums off Social Security", purist rhetoric is both inciteful and completely unnecessary. Mr. ducky's laughing all the way to the ballot box, thanking his lucky stars for braying asses who don't have the common sense necessary to come up with any reasonable alternatives becuase they would violate their sacred "conservative principles".
Beamish "but the only out I see is making children and grandchildren legally and fiscally accountable for elder care."...AOW.
You willing?
Beamish "but the only out I see is making children and grandchildren legally and fiscally accountable for elder care.".
Well, if your going to do THAT, be prepared for an illegitimate BABY BOOM w/MANDATORY DNA Testing for ALL U.S. Nationals. Look for impoversihed women in their forties/fifties getting FREE Obamacare fertility treatments to have babies that will support them when they hit 65. I'd rather pay Social Security for one, than AFDC/Welfare for six.
Meanwhile the sperm donor baby daddy's are going to have a field day proving paternity and suing their children for support.
Of course, IF you made them do it w/i a year of the child's birth... perhaps that AFDC/TANF thing would go away....
Thersites,
Meanwhile the sperm donor baby daddy's are going to have a field day proving paternity and suing their children for support.
No doubt.
Nonetheless, before Social Security and Medicare/Medicaid came along, that's what the scenario was -- that the vast majority of families took care of their own, that is. For the most part. The Amish do so well, of course -- and there is a group that exempts itself from Social Security. I don't know why I didn't think of that example earlier in this long, long discussion.
You're right that there would be another baby boom, too.
Nonetheless, before Social Security and Medicare/Medicaid came along, that's what the scenario was -- that the vast majority of families took care of their own, that is. For the most part.
That was also back when there were "nuclear families". Such is no longer the case. Women's liberation, AFDC, School Integration/White Flight and Great Society programs saw to that. Given a few years, the "Children's liberation" movement (already big with the UN) will hit and the paedophiles will be having sex w/minors, living as catamites, etc., etc. The APA is currently moving to remove "paedophilia" from their list of mental disorders (as they did w/homosexuality years ago).
Speaking of which, expect opposition for such a measure from "children's rights" advocates. "It's for the children," will be the last refuge of paedophiliac scoundrels.
But the employer match ISN'T "what you paid in all your life."
Then who paid it Sh*t 4 brains?
IT WAS PAID as part of MY compensation by MY employer (who was also myself)for MY WORKING. I EARNED IT. Had it Not gone to Social Security as a TAX, it would have gone into MY BANK ACCOUNT.
The self-employed are a minority of taxpayers. Barely 12% of working Americans now. You yourself aren't even self-employed today. You can't claim your current employer's matching contribution as money YOU paid in.
Besides that, back when you weren't a business failure and could afford to be self-employed pushing a lawn mower for your neighbors, the OASDI tax rate and the maximum taxable incomes were much LOWER than today.
Comparatively, you didn't pay jack shit then, freeloader.
Stupid has a name, and it's BEAMISH!
That's cute. Studying to graduate kindergarten?
YOU are NOT PAYING IT! YOUR GENERATION is NOT paying the match. IT HAS ALREADY BEEN PAID!
No one but the self-employed, who are AND HAVE ALWAYS BEEN a minority of taxpayers, pays the matching amount atop the mandatory contribution. It has always been so.
G-d Your dumb. You make Bd look like a genius in comparison.
Says the twit that can't do math.
So, you shouldn't have to raise my Social Security taxes at all since you have it all covered, huh?
Who's raising your Social Security OASDI tax?
The percentage rate has been raised 10 times in my lifetime alone. The maximum taxable income that rate is applied to has been raised 37 times during that period.
Neither the rate nor the maximum taxable has any historical basis to back a belief that they won't continue to rise to carry freeloaders like yourself.
They're cutting MY and YOUR future benefits. What part of the Ryan Plan don't you get?
The part that isn't signed into law by Obama.
You're going to get back even LESS back then your going to pay in. So am I. Deal with it. Man up. You're squeeling like a little girl being f'd by the government for the very first time.
Correction: I'm going to get less back that you will after paying in more than you did.
btw - You'll personally never come CLOSE to paying in what I'VE PERSONALLY ALREADY PAID IN. So stfu, already.
I paid in during my first year of working more than you were even accountable for the first ten years you were working, freeloader.
You're crying about water that went under the bridge DECADES ago.
No, I'm complaining about you Baby Doomers choosing to be freeloaders rather than deal with this problem 50 years ago.
Ida Mae Fuller was 100 years old when she died. And she died 36 years ago. I helped pay out her last two years. YOU NEVER did. She died when you were 5.
And she is just but one example of the millions of Ida May Fullers like yourself that I will help pay out for your last 10 to 20 years because you didn't pay jack shit in comparatively at a rate three times lower than mine on income maximums twelve times lower.
You'd have us a believe that there is NO time for socialism. There is.
Spoken like a true Tea Party communist. You lefties make me sick.
Sue, can you tell me why you think that guy's a Republican?
He implies that Republicans aren't allowing leftwing causes to SPEAK and then that it's not Democracy when one says 'shut up'
How do you think he'd react to John Kerry's telling the media to stop covering the Tea Party, or Biden calling the TPers 'terrorists' or Obama so badly insulting Republican politicians?
Is that democratic?
Beamish "but the only out I see is making children and grandchildren legally and fiscally accountable for elder care."...AOW.
You willing?
Sure. Give me back the money Social Security and Medicare has already taken from me to pay for the Gravy Generation and the Baby Doomer generation to finance their fiscal irresponsibility, sloth, and freeloading, and I'll gladly take care of my family when they're unable to work.
You wouldn't even need a law. It'll be like the videos of junkies and drunks that kept most kids off of serious drugs. We could point to destitute slackers like FJ in the gutter and say "that's what happens to freeloaders when they retire."
You can't claim your current employer's matching contribution as money YOU paid in.
I can't claim the tax-deductible money employers pay towards my health insurance either. But it's mine, none-the-less. But then you didn't read anything I had just posted on the history of insurance and the wage limitations of WWII that lead to our current insurance-based health and retirement systems. You can lead an ass to water....
Comparatively, you didn't pay jack shit then, freeloader.
lol! "Comparatively" I paid just as much. The Max-Cap that I pay and always HAVE paid was "indexed" to the CPI. Dollars back then were worth a hell of a lot more than dollars today are worth.
I paid in during my first year of working more than you were even accountable for the first ten years you were working, freeloader. lol!
I've paid the maximum since I graduated college, beamish. My actual contributions to OASDI have already passed a quarter of a million dollars. If I could retire TODAY and start collecting the MAX benefit of $28,392 a year, it would take me 8.8 years to get my money back. When I retire 12 years from now (if I retire at age 66.5) and live to the average age for a male American 75.6 years... I would JUST get the money ALREADY paid back +/- a month or two. SO the next 12 years of my Social Security payments will be literally "pro bono," a donation to the Ida Mae generation. And those are actual numbers.
Now tell me again where the "freeloading" comes in, Sh&t 4 brains?
No, I'm complaining about you Baby Doomers choosing to be freeloaders rather than deal with this problem 50 years ago.
50 years ago I was 4.5 years old. I threatened to hold my breath, but they knew I was only bluffing.
I'll gladly take care of my family when they're unable to work.
BWAH-HA-HA-HA-HA-HA-HA!
How you going to do that after your 2 years of freeloading off unemployment benefits run out?
Sure. Give me back the money Social Security and Medicare has already taken from me...
Gen X. The "me" generation. It fits.
Wa-a-a-a-a-a-a-a-a-h! I only wanna pay for Me-e-e-e-e-e-e-e-e-e-e...
Man-up lawn mower man.
Speedy,
That was also back when there were "nuclear families". Such is no longer the case.
Agreed. I believe that I pointed that out in a comment long ago here although I didn't use the term nuclear family.
I only mention it because family "today" isn't what it once was, especially in the 50's when we were growing up.
You can't claim your current employer's matching contribution as money YOU paid in.
I can't claim the tax-deductible money employers pay towards my health insurance either. But it's mine, none-the-less. But then you didn't read anything I had just posted on the history of insurance and the wage limitations of WWII that lead to our current insurance-based health and retirement systems. You can lead an ass to water....
And you can slap the camel for chasing a mirage.
When are you going to drink that $14 Trillion debt you ran up, grandpa?
Comparatively, you didn't pay jack shit then, freeloader.
lol! "Comparatively" I paid just as much. The Max-Cap that I pay and always HAVE paid was "indexed" to the CPI. Dollars back then were worth a hell of a lot more than dollars today are worth.
Yet you won't pay me $3 million to build you a refridgerated 5GHz CPU desktop computer with 1TB of RAM with all the works in video and sound cards, surround stereo system, USB ports, and 5 TB of storage in any color or custom paint scheme of case you want and have it to you by the end of next month (when I'd readily do all that for ya plus shipping for $18,000 to $20,000)
Now, what dropped the value of the dollar? Technological development or you finger-waggin' freeloaders not paying your bills?
No, I'm complaining about you Baby Doomers choosing to be freeloaders rather than deal with this problem 50 years ago.
50 years ago I was 4.5 years old. I threatened to hold my breath, but they knew I was only bluffing.
Surely you grew up in the meantime.
After all, it was members of the Gravy Generation and your Baby Doomer Generation that have been saying this day of insustainable debt has been coming for all my life. Not doing anything about it, even exacerbating it, but blah-blahing about it the whole time.
I'll gladly take care of my family when they're unable to work.
BWAH-HA-HA-HA-HA-HA-HA!
How you going to do that after your 2 years of freeloading off unemployment benefits run out?
What? All $300 of it?
Sure. Give me back the money Social Security and Medicare has already taken from me...
Gen X. The "me" generation. It fits.
Wa-a-a-a-a-a-a-a-a-h! I only wanna pay for Me-e-e-e-e-e-e-e-e-e-e...
Would we have a $14 Trillion debt if YOU paid for YOU, Baby Doomer?
When are you going to drink that $14 Trillion debt you ran up, grandpa?
Talk to the fund manager, lawn mower boy.
Would we have a $14 Trillion debt if YOU paid for YOU.
Talk to the fund manager, lawn mower boy. I gave him the money to invest, he inested it in unemployment benefits for lawn mower boys.
And you can slap the camel for chasing a mirage.
That's a mirage that I love, then. I put money into my 401K, my employer matches the first 4% of salary. Somehow, that 4% match ends up in my pocket, not his. Go figure. But personally, I think I earned it as part of my compensation package. Silly me.
Now, what dropped the value of the dollar? Technological development...
So now the unproductive government freeloaders at NASA are a good thing??? Wow, you're all over the ballpark, beamish.
When are you going to drink that $14 Trillion debt you ran up, grandpa?
Talk to the fund manager, lawn mower boy.
My "lawn mower" prunes, drops, chops, and / or mulches trees for $500 to $1500 a day, freeloader. When I'm not running that saw, I'm travelling around installing hardlines and setting up home and business networks so freeloaders like you can afford to watch TV, talk on the phone, and play on the internet at the same time for around $800 to $1200 a week. One job I'm self-employed, the other I'm employed. Guess how much OASDI I get to pay?
I *am* talking to the fund manager. Well, the previous one anyway. What'd you do with all that time you could have not been pushing your generation's debts on others?
Would we have a $14 Trillion debt if YOU paid for YOU?
Talk to the fund manager, lawn mower boy. I gave him the money to invest, he inested it in unemployment benefits for lawn mower boys.
All $14 Trillion of your Baby Doomer Generation's debt?
What was that you said about being serious?
Answer the question, Claire. What dropped the value of the dollar? Technological development or you bill-skippin' freeloaders not paying your debts?
And you can slap the camel for chasing a mirage.
That's a mirage that I love, then. I put money into my 401K, my employer matches the first 4% of salary. Somehow, that 4% match ends up in my pocket, not his. Go figure. But personally, I think I earned it as part of my compensation package. Silly me.
Goody for you. How about we apply your windfall towards paying off your $14 Trillion debt?
Now, what dropped the value of the dollar? Technological development...
So now the unproductive government freeloaders at NASA are a good thing??? Wow, you're all over the ballpark, beamish.
Obviously technological development would make things cheaper and more efficient. It's why I can build you a cherry sweet cutting edge hyper-powerful desktop PC from pre-fab components on my dining room table for around $15,000 a piece when you couldn't find anybody to do the same in 1981 for $6,000.
So where did the $14 Trillion debt come from, freeloader? It's $14 Trillion in today's "worthless" dollars, right?
Awwww. Poor lawn mower boy. Somebody stole his candy bar, but he wants to mug unarmed bystanders for it back.
Tsk-tsk-tsk...
You're like the plumber that wants to fix the faucet that's no longer leaking, because's he's too lazy to inspect any of the pipes running up to the faucet for leaks.
Meanwhile, the water keeps pooling up on the floor.
Nobody ever said that lawn mower boys made good plumbers.
Awwww. Poor lawn mower boy. Somebody stole his candy bar, but he wants to mug unarmed bystanders for it back.
Tsk-tsk-tsk...
It wasn't defense spending and veteran's benefits that drove up your $14 Trillion debt, freeloader.
It must have been them goofy ideas like studying monkey farts and building reusable spacecraft that can't make a profit delivering shit to outer space. Sort of like the post office.
And of course, burning through your SS and Medicare funds and replacing it with an IOU.
Why should I make good on a check I didn't write?
So pick another villain, lawn mower boy.
Why should I make good on a check I didn't write?
Cuz if ya don't , we'll bust your kneecaps.
It must have been them goofy ideas like studying monkey farts and building reusable spacecraft that can't make a profit delivering shit to outer space. Sort of like the post office.
At the Grand Academy of Lagado, they do a LOT more than that.
So pick another villain, lawn mower boy.
Okay, I pick the Department of Other & All Other Departments And Agencies, along with Medicare, Medicaid, and Social Security.
Those seem to be the less profitable investments.
Other would be a very sensible choice. Social Security, perhaps NOT so good.
Why should I make good on a check I didn't write?
Cuz if ya don't , we'll bust your kneecaps.
Hmm. Maybe Uncle Sam should file for disability.
Perhaps he should file for Inability.
Personally, I'd sell Alaska to the Chinese.
...or Canada. ;)
Fire on the mountain run boy run, the devil's in the house of the rising sun... chicken in the breadpan pickin' out dough...
Granny does your dog bite? No, child no...
;)
...to the Chinese.
I'd annex Mexico and dare the world to come liberate it.
o/t fyi - President Obama’s National Endowment for the Arts granted $50,000 to Atlanta, Georgia’s Center for Puppetry Arts. “Since 1978, the Center has introduced millions of visitors to the wonder and art of puppetry,” the Center’s website claims. “We believe puppetry is awe-inspiring and magical.” The Obama administration agreed, and in the process, they created 1.90 jobs. Perhaps one retained puppeteer was missing a digit. (In actuality, five jobs were “retained,” and none were created, according to the aptly-named recovery.gov website.)
The American Museum of Ceramic Art, which received $50,000 to create 1.37 jobs, was also part of this economic surge. If the Obama administration had given this amount to the Center for Puppetry Arts, making a total of $100,000 it could have created 3.80 total jobs rather than 3.27.) Puppetry is more cost-effective than ceramics – you don’t have to pay the puppets.
btw - As of the end of calendar year 2010, the accumulated Social Security Trust Fund surplus stood at just over $2.6 trillion.
As of June, according to the Treasury Department’s latest data, mainland China held a total of $1.1656 trillion in U.S. debt
Note to Beamish. You owe me and other Social Security Payers more than you owe the Chinese. I've already paid you $2.6t more than Ida Mae could spend. What did YOU do with the money?
Careful I don't foreclose on your butt.
ps - You might also want to tell your law care service X-box generation friends to mind who they vote for... as the last idiot they put into the Whitehouse spent $859 billion on turning the economy around, and ended up plunging us into a double-dip recession.
We don't need any more politicans who like to go on spending benders. Tell them that they need to learn how to sip "Tea," instead.
Speakin' of "law care"... I gotta go pick up my 2L from Georgetown.
Ciao Mein
btw - As of the end of calendar year 2010, the accumulated Social Security Trust Fund surplus stood at just over $2.6 trillion.
As of June, according to the Treasury Department’s latest data, mainland China held a total of $1.1656 trillion in U.S. debt
Note to Beamish. You owe me and other Social Security Payers more than you owe the Chinese. I've already paid you $2.6t more than Ida Mae could spend. What did YOU do with the money?
Careful I don't foreclose on your butt.
Ask your doctor to up your Haldol dosage.
Your Social Security "Trust Fund" is around $9 Trillion worth of IOUs - debt, not cash - that will require tax increases on current workers to honor when it comes time to pay them out, BECAUSE YOU FREELOADERS DIDN'T PAY FOR YOURSELVES.
As for China, subtract $2.4336 Trillion from the "debt" they hold to represent our trade deficits with them going back to 1985, and they still owe us $1.2680 Trillion plus interest.
Pretty sad that the Chinese are more willing to pay for your retirement than you Baby Doomers are. Where's that American work ethic y'all always mealymouth about, freeloader?
ps - You might also want to tell your law care service X-box generation friends to mind who they vote for... as the last idiot they put into the Whitehouse spent $859 billion on turning the economy around, and ended up plunging us into a double-dip recession.
He's just a Baby Doomer kid. Not a damn one of them can do math.
We don't need any more politicans who like to go on spending benders.
It's why I believe no children over age 65 should be allowed to vote.
Tell them that they need to learn how to sip "Tea," instead.
We need less communism, not more of it.
You know it's a Ponzi scheme, So, go get some more Ponzi Putz's. You're ours.
Oh, that's right. Yours is the "gay" generation. The girls are all looking for romance, and the boys, hand cream.
Oh, that's right. Yours is the "gay" generation. The girls are all looking for romance, and the boys, hand cream.
Let me guess, you take Viagra because your daughter's firm handshake crushes your knuckles.
The Baby Doomer generation has given us plenty of gray haired kids to take care of, what with you all being freeloaders.
Your generation is an impending humanitarian crisis that can be reduced by 50% by letting half of you starve to death.
Your generation is an impending humanitarian crisis that can addressed by... enslaving you to your better half and thereby being taught what it means to be human.
...and if incapable of being taught, deserving of their rightful status as merely glorified imitators of bonobos.
...and reap the rewards of their inhumanity.
All you need is love bompa da da da...
or a bigger and better self-help book and lots of therapy.
Dr. Spock's kid killed himself. Surely he's got the answer to your parenting failures.
My parenting "failures" are three college graduates, only one of whom went on to law school.
Speaking for yourself again, beamish?
Wow! This discussion is still going on?
You need one more kid, so as to ensure enough workers are paying into Social Security to cover your freeloading.
College? Ooof. They wouldn't take your word for it that they were stupid? Had to spend thousands of dollars on information freely available on the Internet?
Having information on the internet hasn't improved your intelligence any beamish. After all, I post links, and you ignore them.
Like I said before, you can lead an ass to water...
At least my kids are "certified" drinkers. You're just an undcertified abstainer.
And you're still a Baby Doomer freeloader with a $14 Trillion debt and nothing to show for it.
Completely unscathed is my demonstration that most Baby Doomers have in fact NOT paid into the system enough to cover what they will get back. And my point that Social Security was not and is not intended to be a retiree's sole source of income is ignored by you bleeding heart commies in the Tea Party crying about all the retirees that would starve to death if not for their Social Security. You commies even complain that Social Security payouts aren't enough, even though most have gotten back more than they paid in, and the program wasn't intended to be a sole source of income in the first place.
You are threatened by the truth of the fact that your generation has run up a $14 Trillion debt.
That $14T in debt you are holding is owed to me. Pay up, deadbeat!
Sure, grandpa.
Better yet, come try to take it.
Double dog dare ya :)
Try and with-hold the money you owe me. Triple Dog dare you!
Buy a Hoveround or golf cart and cash in on the electric car tax rebate like everyone else, Grandpa. :P
Hobo your *ss down here, and we'll see who'll be driving a cart.
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