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Our Biggest Surprise From The "Patriotic Millionaires For More Taxes Initiative": Whitney Tilson Makes Over A $1,000,000
When we read about the "Patriotic Millionaires" initative, in which anyone can submit a name and an email address, and indicate they make over a million dollars, while patriotically proclaiming their desire to be taxed more, our biggest surprise was not that nearly 400 Americans gave the IRS a carte blanche to go through their 2011 tax returns line by line, but that Whitney Tilson actually makes over a million per year. It appears the "Value" Investing Congress still has money left over after spending millions on R&D for uncovering revolutionary ways for its VIC conference invite (80% off, but only if you respond in the next 10 minutes) blast mail to pass through every single spam filter known to man (or so it would appear to disinterested 3rd parties who have tendonitis from hitting unsubscribe countless times). That said, we are confident all of these patriotic individuals will gladly submit at least an additional 10% of their gross income to the IRS, and provide proof of doing so, regardless of how successful their highly patriotic and altruistic campaign ends up being. Because otherwise those tempted to do so, may actually accuse said "millionaires" of hypocritical posturing. Incidentally, perhaps next said self-proclaimed millionaires, who count in their ranks such rich men as Nouriel Roubini, Leo Hindery, Mike Steinhardt, and Edie Falco can also disclose the liability side of their balance sheets.
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Allowing the thief to take more from your wallet does not address the issue.
I'd like to see you manage the world's greatest superpower. Our politicians were elected because they are the best leaders, and they know how to run a country. The congress has proven its ability to tackle difficult issues with decisive acts like the bipartisian compromise and the supercongress initiative. We need PROVEN experts to manage the country with the advice of top nobel-prize winning economists.
lol
what's wrong with prudent, intelligent and patriotic kenyans (wait don't i mean keynesians?) running the country? shouldn't we take the best and brightest from our universities to run our centrally planned democracy?
one problem.
black swan clusterflock, bitchez
http://azizonomics.com/2011/08/15/why-qe-didnt-cause-hyperinflation-2/
six sigma events happen every second...
We're in so much debt that I just hope they're good enough leaders to borrow more money so we don't go bankrupt. We should listen to Krugman's great advice of staging a pretend battle with aliens in order to boost GDP. Spend, spend, spend..it's the only answer.
Our politicians were elected because they were the dregs that ran.
Oh wait...LOL!!
"Our politicians were elected because they are the best leaders, and they know how to run a country". I knew you read ZH Timmay, now go fuck off!
Double LOL and put down that crack pipe will ya
by MillionDollarBonus_ on Mon, 08/15/2011 - 15:55 #1562746
I'd like to see you manage the world's greatest superpower. Our politicians were elected because they are the best leaders, and they know how to run a country. ...
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Yeah, that was good. I needed a laugh today ...
Tnx
I'd like to see you manage the world's greatest superpower.
Open the white pages of any old phone book and put your finger on the page. I give you POTUS.
Wake me up when the start writing checks to the United States Treasury...VOLUNTARILY
I always wonder why these sleazebags keep proclaiming they don't pay enough taxes. Why don't they just turn over all of their income to the IRS. Warren Buffett should instruct his CPA not to take any deductions. He can even instruct the Berkshire Hathaway accountants not to deduct any business expenses to his businesses can pay more taxes. The IRS does not force any person or business to deduct expenses against income. Anyone who thinks taxes are too low can send the IRS an extra check for the amount they think they should be paying.
Tiiping point coming to a theatre near you...
If these "Patriot Millionaire" fucknuts were REAL patriots, they would voluntarily donate THEIR OWN millions for disposal into the FedGov Money Hole™, instead of directing FedGov to confiscate MY hard-won $$$ for destruction by the Money Pit On The Potomac.
Shitbirds like this really chap my ass.
I would love to have a look at their tax returns to see exactly how "patriotic" they are when it comes to their own taxes.
Gives new meaning to self hating jew! JK, before you get your panties in a bunch...
Leo's kick ass solars folding:
http://www.bostonherald.com/business/technology/general/view.bg?articlei...
so. totally. irrelevant.
watch this:
http://www.youtube.com/watch?v=661pi6K-8WQ
That was pretty good.. Hmmm.. so maybe.. just maybe... we have a spending problem... I said maybe..
thx. been looking for a breakdown like this
That was pretty pathetic. Yes, we need to cut spending, but to not start from the budget deficit and not include payroll taxes is a little dishonest. I guess when the middle class pays taxes it doesn't count.
Who is Whitney Tilson?
Some dame.
Some wasted washed up has been singer trying to get you to pay more taxes.
Another millionaire New Yawkah with more dollars than sense ;-)
She's married to Bobby Brown.
Who gives a fluck? As long as their interests dont conflict with mine.
It's not Whitney Tilson. There was a misprint.
It's Whitey Tilson. Sorry about that.
You too? Wow.
So long all.
Remember, the key to happiness is lowered expectations.
I remember him from "Leave it to Beaver"
Oh, so it's a man.
Who - or what - is Whitney Tilson? And shoud I care?
Is she that blond bimbo always on cnbc?
He writes for the FT.
thanks - always thought "Whitney" was a female name....
It is.
Isnt she the one that sang that 80's tune, How will i know?
Thats what I thought at first - maybe she marriied MIke Tyson, hence "Whitney Tyson"
Then again WTF do I know?
Hypocritical millionaires? Unheard of.
M1 and M2 increased 22% in six months now they are only $780,000 aires minus said 10%tax = 700K. Welcome to the middle class bitchez
Isn't it time Warren Buffett shuts the hell up. Did he rake in millions from the tax payer bailout of Goldman Sachs? I think Mr. Buffett has a guilty conscience. Buffett has his nose so deep up Obama's ass its starting to turn brown.
lol, you got that right.
Buffett needs more taxpayer funding to bail out his insurance companies and banks. He also likes those government contracts that the Berkshire companies receive. The pigs get mad when you take away the gravy
BILLIONAIRES WON'T BE GIVING MOST OF THE MONEY but will reap oversize benefits in terms of retirement and medical benefits for their employees (large corporations) and a lower overall borrowing cost in the U.S. The billionaires know that taxing down to $250k will also help depress their competition (small business). Perfectly rational, Mr. Buffett.
If I was 80 years old and had billions of dollars I'd never be able to spend, what better way to bring more attention to yourself then boasting I need to pay more taxes. Its us middle and lower income folks that are getting taxed to death. Buffett and his ilk won't miss a few Millions more. Screw all those self conceited bastards.
buffett is a real altruist and patriot. ten percent increase on his income is, um 0 dollars? that guy hasnt paid a capital gains tax since world war 1. his "salary" is 100,000 a year. he doesnt even qualify under the super rich tax plan.
Nothing to stop them donating voluntarily to the US Treasury if they really believe this.
Winner winner chicken dinner. This is the answer, literally, to every liberal blowhard (read: not necessarily affiliated with the democrat party). Ok, if the state is so awesome and everyone should pay more taxes, lead by example. I nail one of the guys in the office about this every time he opens his mouth... "I wouldn't mind paying more taxes"... well, apparently you do sir because you have a net worth... when you figure out why you haven't yet written a check to uncle sam, you'll figure out why the premise of your altruism is total bullshit.
Aside from the fact that assholes wanting to be taxed more stinks like Bill Gross writing CYA letters bashing the administration or policies... I'm pretty sure some track records are impossible to overcome. The proof is in the pudding so to speak. (as a practical matter, anyone who gets in your face and starts jawing probably doesn't plan on throwing a punch... it's the assholes that just step up and swing that you have to worry about).
Warren Buffett:
"Last year my federal tax bill — the income tax I paid, as well as payroll taxes paid by me and on my behalf — was $6,938,744. That sounds like a lot of money. But what I paid was only 17.4 percent of my taxable income"
TVBE - thinly veiled brag editorial
How 'bout we raise those capital gains taxes instead personal income tax? I doubt you'll be writing editorials in the Times supporting that, but that's the ultimate way to screw the rich.
Well, this guy would be worth a hell of a lot less anyway without the FED having reinflated his assets al la monetary policy..
I'd have prefered he didnt pay any taxes and we had a sound money system instead
I wonder how many Congresscritters are on the list.
"we are confident all of these patriotic individuals will gladly submit at least an additional 10% of their gross income to the IRS, and provide proof of doing so, regardless of how successful their highly patriotic and altruistic campaign ends up being. "- Tyler
That's right, put up or shut up!
Who is Whitney Tilson? Is that the chick that gave Hugh Grant head in the car?
WEB eats shit.
The correct thing to do is to call these bastards on the "The Wealthy don't pay enough so we need to tax them more" bluff, since they are never actually talking about taxes on the wealthy, rather they are talking about income taxes that prevent the average joe who struggles to accumulate a little wealth from actually doing so.
OK, Mr. Buffett, each year, from now until you die you will give us 5% of your wealth. When you die it will be 55%, whether it is sheltered in a trust or not.
That is how you make the "coddled" billionaires and millionaires pay their fair share.
Yes!!! I am certain Buffet "tax dodging hypocrite" will not send the check!
Title read as "Pathetic Millionaires For More Taxes Initiative": Whitney Tilson Takes Over A $1,000,000
It doesn't matter how much is given to the gubmint or by whom. It's already pissed away the day Timmay cashes the check. The credit card is the real problem.
I guess these generous millionaires were unaware of the US TreasuryDirect program wherein they may feel free to donate as much money as they wish to reduce our nation's debt. I've attached the link in case you know any of these folks. Feel free to pass it along to them.
http://www.treasurydirect.gov/govt/reports/pd/gift/gift.htm
I have to assume they just didn't know how to Google a way that they could contribute to the cause. To believe otherwise would be to think they had an ulterior motive... or some kind of hypocricy...
US TreasuryDirect program; Love it.
Now, the question would be, does/would Buffet 'love it' ..
C'mon. It's not like prosperity via higher taxation hasn't worked numerous times in the past.
Instead of all this BS why don't they just send a bigger check on April 15th. Instead of creating web pages and needing recognition for being SO patriotic and all this nonesense just send a bigger CHECK!!! It is not like it's illegal. I don't get it.. Why do they need so much attention?
Probably a good time to nominate some worthy bankers, fill the details in for them, save them the bother.
The country has up to 2000 billionaires, and the vast majority don't care in the slightest about this initiative because they make money from having a Federal Government deregulating, in debt and disabled.
I beg to differ re: deregulating; most large corporations help write the regulations IN THEIR FAVOR, thus tilting the playing field!
That makes sense; I wondered why Free Trade Agreements are usually thousands of pages long instead of just one sided letter double spaced.
You would think it would be obvious, but the thing to do to make things fair is to lower my taxes, not raise theirs.
I thought that sounded kinda "hail to the Fed gov't", propaganda crap. Glad to see someone else's opinion calling it like it is, which means I'm not going crazy alone.