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  ........'Impressed' and 'Delighted' Warren Buffett Matches GOP Rep's Deficit Donation

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Author Topic:   ........'Impressed' and 'Delighted' Warren Buffett Matches GOP Rep's Deficit Donation
AcousticGod
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Posts: 5763
From: Pleasanton, CA
Registered: Apr 2009

posted January 19, 2012 11:16 AM     Click Here to See the Profile for AcousticGod     Edit/Delete Message   Reply w/Quote
CNBC – 18 hours ago

Warren Buffett will be writing a check made out to the United States Treasury for just over $49,000 to help pay down the national debt.

He's matching voluntary contributions made this year and last year by Rep. Scott Rigell, a Republican representing Virginia.

In a letter to Rep. Rigell released today by Berkshire Hathaway, Buffett writes he's "particularly impressed that you took this action before my challenge."

[ See also: Why Mitt Romney's Tax Rate Matters ]

In his challenge, issued in a Time Magazine interview last week, Buffett promises to match voluntary contributions aimed at reducing the deficit by "all Republican members of Congress, and I'll even go three for one with (Senate Minority Leader Mitch) McConnell."

McConnell, and other critics of Buffett's call for higher tax rates on the super-rich, have been suggesting that if Buffett thinks he's not taxed enough then he should "send in a check" to the Treasury.

In his letter to Buffett, also released by Berkshire, Rep. Rigell writes, that he "appreciates" and "gladly accepts" Buffett's "generous offer."

Rigell says he makes it a practice to donate 15 percent of his Congressional salary "to pay down the debt." That amounted to $23,103.33 in 2011 and about $26,100 in 2012.

Rigell adds, "Though we differ on tax policy, as fellow Americans and businessmen I know that we share this common bond: a deep concern over the state and trajectory of our country's finances."

Buffett writes back that he hopes Rigell's action "spurs an intramural rivalry between Republicans and Democrats .. a form of competition between the two parties that the American people would applaud" as a "small step" toward "better cooperation between the two parties."

Buffett will wait until April 20 to write his check to see if anyone else accepts his challenge.

Buffett also invites Rigell to come for a visit if he's "ever traveling near Omaha."

As for Rigell's offer to provide "documentation" of his contributions, Buffett tells him, "Your word is good with me."
http://finance.yahoo.com/news/impressed-delighted-warren-buffett-matches-204656439.html

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jwhop
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From: Madeira Beach, FL USA
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posted January 19, 2012 12:37 PM     Click Here to See the Profile for jwhop     Edit/Delete Message   Reply w/Quote
"I don't recall hearing Scott Rigell bloviate about the rich paying more to the federal government...unlike Buffett who set up his tax liabilities in such a way as to only pay a Capital Gains tax of 15%. Rigell just went ahead and sent money he didn't owe to the federal government.

Sounds like Buffet has been behind the curve in donating even though he's the one bloviating."
http://www.linda-goodman.com/ubb/Forum26/HTML/000880-5.html

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AcousticGod
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From: Pleasanton, CA
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posted January 19, 2012 02:21 PM     Click Here to See the Profile for AcousticGod     Edit/Delete Message   Reply w/Quote
Glad someone posted it already.

blo·vi·ate/ˈblôvçˌât/Verb: Talk at length, esp. in an inflated or empty way.

I think we all are perfectly aware of who is bloviating, and who is not. Republicans believe themselves to be calling his bluff by pointing out that he doesn't voluntarily pay more taxes. It's not really an adequate argument, however. I can't imagine anyone proposing that a single individual should tackle the national debt, and yet this seems to be the Republican position. They ask why he doesn't just fork over money alone in order to put his money where is mouth is, and he justifiably makes the condition that others must do the same.

Just more impugning Capitalism by Republicans.

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jwhop
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From: Madeira Beach, FL USA
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posted January 19, 2012 11:42 PM     Click Here to See the Profile for jwhop     Edit/Delete Message   Reply w/Quote
What crap!

If all the so called rich had their income tax rates increased to 40% the additional revenue wouldn't run the federal government for 2 weeks...and probable less than 2 weeks.

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AcousticGod
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From: Pleasanton, CA
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posted January 20, 2012 01:31 PM     Click Here to See the Profile for AcousticGod     Edit/Delete Message   Reply w/Quote
Why are they "so called" rich? What would prevent these people from being justifiably deemed "rich." For someone who labels people without justification on a regular basis, it seems like a strange battle to pick.

If Obama wins this year, I for one hope he lets Bush's cuts expire. I hope he forces a new deal on taxes. One that is more in line with they way they were previously. Spending cuts would absolutely be beneficial as well, but the government's income needs to be handled more responsibly.

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