What happened to all of the doom and gloom economic threads?

[unregistered]

 

[koalabear]

The bullshit damage is done however:


Buffett’s math is a bit off

By S.A. MILLER, Post Correspondent

Last Updated: 8:28 AM, September 20, 2011

Posted: 12:30 AM, September 20, 2011

WASHINGTON -- Billionaire investor Warren Buffett isn’t as undertaxed as he and President Obama seem to think.

Buffett recently said that he paid only $6.9 million in taxes last year -- just 17.4 percent of his earnings, compared to an income tax rate of about 36 percent paid by his employees.

“My friends and I have been coddled long enough by a billionaire-friendly Congress. It’s time for our government to get serious about shared sacrifice,” Buffett wrote last month in the New York Times.

Such grousing was enough to convince Obama to name his latest tax-the-rich scheme the “Buffett rule.” But it doesn’t tell the whole story.

And yesterday, Obama invoked Buffett’s name again in his case for imposing higher taxes on the wealthy, when he said: “Middle-class families shouldn’t pay higher taxes than millionaires and billionaires.’’

“It’s hard to argue against that. Warren Buffett’s secretary shouldn’t pay a higher tax rate than Warren Buffett. There is no justification for it,’’ Obama said.

Buffett actually was taxed twice on his investment income.

First, Buffett had to make the money he invested. Those earnings were taxed as corporate income, at about a 35-percent rate.

Then, Uncle Sam took another cut when Buffett invested the money and earned a profit. That’s when Buffett paid the 15 percent capital-gains tax rate.

All told, after combining corporate taxes and capital gains taxes, Buffett forked over about 45 percent of his earnings.

Read more: http://www.nypost.com/p/news/national/buffett_math_is_bit_off_7mGzoYiwPfsJcnWaIoptFJ#ixzz1YW03PAT7

Buffett just wanted a seat at the fed, he has that now.

 

[unregistered]

 

[RobDownSouth]

What a big fool he turned out too be. Rush thumped him yesterday.

Suuuuuuure he did.

 

[koalabear]

What a big fool he turned out too be. Rush thumped him yesterday.

Little late for that now, Buffett joined the "Elite".

 

[unregistered]

 

[NeverEndingMe]

Of course the Buffet Rule will now have to navigate the House, where some still believe they derive their power from the consent of the governed

and it gives the obama a weapon, and mindless people will believe him!

 

[koalabear]

Desperate Fed readies new trick to lift economy


To rescue economy, Fed gets ready to twist and shout


Doing the Twist
One of those moves, dubbed "Operation Twist," would represent a reshuffling of the bonds the Fed already holds in its vaults. By exchanging short-term notes for longer-term bonds, the Fed is hoping to push long-term rates even lower than the already bargain basement rate of roughly 2 percent.

Operation Twist won't change the amount of money available for lending; when the Fed buys longer term-debt (adding dollars to the system) it's expected to offset those purchases by selling short-term debt (taking the cash back.) The goal is to lower the overall level of interest rates - not unlike a homeowner swapping higher-rate credit card debt for a lower-rate home equity loan.


http://bottomline.msnbc.msn.com/_ne...cue-economy-fed-gets-ready-to-twist-and-shout

 

[unregistered]

 

[Ulaven_Demorte]

His strategy is to run against patriots in the House who still believe in the Constitution as a do nothing Congress, and the Republicans, as the party of no. It helps of course to have a large strata of America who don't understand the problem, the Constitution, or the founding principles of the country to get in the way of his drive to destroy the free enterprise system and the idea of limited government.

Translation guide:

Patriots = Staunch conservative wingnuts; See also RINO (Conservative politicians that may actually be sane)

Do nothing Congress, Party of No = Republicans

Believe in the Constitution = Believes what I want the Constitution to say, not what it actually says

Large strata of the population who don't understand the Constitution = People who disagree with my definition of what is Constitutional, see above definition.

Destroy the Free Enterprise system = Regulate Businesses, Make corporations actually pay their fair share, instead of giving them all of the rights of individuals with none of the responsibilities.

Idea of Limited Government = But only eliminate those Social programs which I deem unconstitutional, see above definition.

 

[koalabear]

Thomson Reuters
S&P adds to euro stress with Italy cut

September 20, 2011 8:00 AM ET

http://money.msn.com/mutual-fund/news.aspx?feed=OBR&date=20110920&id=14283593

 

[mercury14]

The bullshit damage is done however:


Buffett’s math is a bit off


First, Buffett had to make the money he invested. Those earnings were taxed as corporate income, at about a 35-percent rate.

Vette, correct me if I'm wrong here, but Buffett has been very wealthy for a long time. The money he invests isn't coming from his salary which is microscopically small compared to his investment income.

What your line of thinking assumes is that each year Buffett is only investing money he makes from his job. He somehow never sells assets or takes a profit from them to reinvest elsewhere.

EDIT: Buffett's salary is $100,000 and he takes no bonuses.
http://everythingwarrenbuffett.blogspot.com/2008/03/bloomberg-warren-buffetts-salary.html



Therefore you and Rush are either horribly wrong or lying again. Which is it?

 

[JohnnySavage]

Desperate Fed readies new trick to lift economy


To rescue economy, Fed gets ready to twist and shout


Doing the Twist
One of those moves, dubbed "Operation Twist," would represent a reshuffling of the bonds the Fed already holds in its vaults. By exchanging short-term notes for longer-term bonds, the Fed is hoping to push long-term rates even lower than the already bargain basement rate of roughly 2 percent.

Operation Twist won't change the amount of money available for lending; when the Fed buys longer term-debt (adding dollars to the system) it's expected to offset those purchases by selling short-term debt (taking the cash back.) The goal is to lower the overall level of interest rates - not unlike a homeowner swapping higher-rate credit card debt for a lower-rate home equity loan.


http://bottomline.msnbc.msn.com/_ne...cue-economy-fed-gets-ready-to-twist-and-shout

What's wrong with that? Most of the debt has a maturity date of about 5 years. When that debt needs to be refinanced, interest rates they have to pay will probably be higher. It makes sense to refinance it now.

 

[koalabear]

stocks soar on hope from fed.....

Updated: 09/20/2011 04:16 ET
DOW 11,408.66 +7.65

 

[WhatamIdoinhere]

The Code of Federal Regulations? If that's what you are talking about, you're an idiot. I don't think a series of books can run the government. They lack opposible thumbs.

You stupid jackass. You didn't know that the CFR is the Council of Foreign Relations yet you opened your asswipe mouth and cast dispersions.

Not knowing about the CFR is a guarantee that you don't know your ass from a hole in the ground when it comes to ecopolitics.

 

[JohnnySavage]

You stupid jackass. You didn't know that the CFR is the Council of Foreign Relations yet you opened your asswipe mouth and cast dispersions.

Not knowing about the CFR is a guarantee that you don't know your ass from a hole in the ground when it comes to ecopolitics.

I wasn't aware I had cast dispersions... let me look it up and see if I did it.

ecopolitcs? Damn, I have to google that one as well.

Some days I just can't keep up with the really smart posters here.

 

[Sonny Limatina]

I wasn't aware I had cast dispersions... let me look it up and see if I did it.

ecopolitcs? Damn, I have to google that one as well.

Some days I just can't keep up with the really smart posters here.

I see a couple of dispersions up there. I don't know who cast them. It's always hard to tell with dispersions.

 

[JohnnySavage]

I see a couple of dispersions up there. I don't know who cast them. It's always hard to tell with dispersions.

That would be my bad then.

 

[Sonny Limatina]

That would be my bad then.

Next time, dispire to do better.

 

[IrezumiKiss]

Next time, dispire to do better.

This thread is starting to reek of dispiration.

 

[JohnnySavage]

Next time, dispire to do better.

Are you disbarging me?

 

[busybody..]

His strategy is to run against patriots in the House who still believe in the Constitution as a do nothing Congress, and the Republicans, as the party of no. It helps of course to have a large strata of America who don't understand the problem, the Constitution, or the founding principles of the country to get in the way of his drive to destroy the free enterprise system and the idea of limited government.

you musta missed it

Even DUMZ are saying it wont pass

 

[koalabear]

you musta missed it

Even DUMZ are saying it wont pass

DOA.

 

[unregistered]

 

[koalabear]

That was my point, that Obama knows that, and will then run against a "do nothing Congress."

That's all he can run on. He must avoid running on his own record.