Saturday, August 13, 2011 9:38:05 AM
"If you were listening, he made a comment about an assistant that has no choice but to pay more in taxes than he does, because said assistant isn't as rich and can`t take advantage of as many loopholes as he can. "
Yeah, that assistant makes like $250,000/year. He/she is rich, too. That`s just a case of one rich person finding more loopholes than another.
Regardless, it`s just an anecdote.
The overall stats show the rich pay a significantly higher percentage than everybody else.
Saturday, August 13, 2011 9:33:25 AM
"Gates may not have much to say, since he made his money through having a useful product and all that, but Buffett is an investor. He HAS to understand the rules of the world of economics, because he makes his money by playing the game."
Not true. Understanding the stock market =/= understanding the economy. Plus, Buffett is only successful because of his vast network of political connections that give him inside information about upcoming public policy.