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/biz/ - Business & Finance

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944622 No.944622 [Reply] [Original]

"The key is to build your fortune is using the current tax rate structure to pay as little as possible. Once your fortune is made, you must advocate raising those rates, to make it as difficult as possible for others to follow you."

Was he right /biz/?

>> No.944627

Buffett has 2 "t"'s in it.

>> No.944644

>>944627
Actually it has two Ns and two Ws and two Bs too

Wwarrenn Bbuffett

>> No.944648

>>944622
>Implying when he started out in the 50s the tax rate was lower

You know he was a Republican til he was about 19, then during the civil rights movement adopted progressive liberalism ever since

>wants higher taxes
No.

>not knowing le master investor's life story

>> No.944659

>>944622
I would take anything he says with a huge fucking grain of salt. the guy is a meme machine

>> No.944662

>>944622
>a literal memer
>people take his advice

Man if I ever became a billionaire I'd just say the dumbest shit and make up dumbass stories that loosely relate to the topic and kek while people take it seriously.

>> No.944667

>>944648
>>wants higher taxes
>No.
Well, now you're just lying.

>> No.944693

>>944662
It's probably a competition with them.
Who can spin the biggest fucking lies

>> No.944698

Funny how people think he is some benevolent grandpa. Dude is ruthless and has ulterior motives for everything. Higher capital gains taxes = less traders he had to compete with to buy out companies.

>> No.944747
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944747

>>944698
>benevolent grandpa
Hey you punk kids!
Get the fuck off my lawn!

>> No.944759

I like Icahn better. At least he's honest.
- "I’m no Robin Hood. I enjoy making the money"

>> No.944820

>>944759
>Robin Hood
Too bad people pissed all over his legacy. He robbed the Government (who were rich), not rich people.
And his brokerage sucks balls.

>> No.944824

>>944644
Very good joke my friend.

>> No.944866

>>944659
>meme machine
I thought that was Tai "hanging with my Lambo" Lopez?

>> No.944972
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944972

buffet wouldnt be where he is if he didnt manipulate markets. like he did several times 1970-1980

>> No.945001

>>944667
[citation needed]

>> No.945004

>>944972
[citation needed]

>> No.945007

THE MORE YOU LEARN

>> No.945008

>>944698
[citation needed]

i swear to god if one of you fucks shit on buffett again im going to fucking lose it

>> No.945013

How did buffet make his fortune...

>> No.945021

>>945001
http://abcnews.go.com/Politics/warren-buffett-raise-taxes-wealthy-friends/story?id=14307993

That was really difficult.
Have you been living in a cave? Everyone knows the man wants to raise taxes.

>> No.945203

>>945013
Buying 12 packs and selling loosies

>> No.945279

>>945013
Pretty sure he invested in feminist companies and made deals by bending over when asked.

>> No.945858

>>945279
>made deals by bending over when asked
betting there are people who actually believe this.

>> No.945893

>>944698
>Higher capital gains taxes = less traders he had to compete with to buy out companies.

yeah, and the joos were behind 9/11

wake up sheeple111!!!!

>> No.945929

>>944622
>Once your fortune is made, you must advocate raising those rates, to make it as difficult as possible for others to follow you."
This part is correct.

The first part on earning a fortune is about a variety of factors, not just tax avoidance.

>> No.945943

>>944662
There's a name for this. I forget what it's called. Basically being rich is equated with being squared away and successful. It lends creedance to your words even if you're wearing shoes fashioned from tissue boxes like Howard Hughes or trying to cut your nose off like Michael jackson

>> No.945954

>>945943
It's probably an assessment of financial sense, albeit one with a somewhat low bar.
Anyone with significant money needs to do things with it to make it earn. This entails risk, and the dumber people are, the easier it is for them to lose fortunes.
Someone with money is either seen as trustworthy or deserving (if it was given), and not stupid enough to have lost (all of) it yet.

>> No.945973
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945973

>> No.945988

>>945943
It's appeal to authority, and survivor bias.

>> No.946013

>>945973
Well Kevin is a man of the people.

>> No.946016

>>945943
>It lends creedance to your words even if you're wearing shoes fashioned from tissue boxes like Howard Hughes or trying to cut your nose off like Michael jackson

Absolutely. Reminds me of that South Park episode where they wrote a nonsensical book and the readers drew conclusions like "it's pro/against abortion", "it speaks about modern society". etc.

>shoes fashioned from tissue boxes like Howard Hughes
I'm sure if you're a billionaire some people will take from it,
>Look how this brilliant billionaire saves money with this economical and Eco-friendly idea! We can all learn something from this great man

>> No.946031

ITT: project your mean-spirited self into someone who actually made something of himself

Buffet isn't a cuddly, selfless, nice old grandpa (his opposition and lobbying against Keystone is more than proof that he doesn't act out of the kindness and goodness of his heart when doing business), but damn, thinking that he's that much of a prick that he wants to make sure no one else can become rich is pure delusion

>> No.946158

>>946031
>he wants to make sure no one else can become rich
Well, I never said that. To make it more difficult, sure.
How else can you explain him wanting the Feds to raise the very tax rates he benefitted from?

>> No.946172

>>946158
For the same reason poor white people who depend on welfare want to slash welfare expenditure: because he thinks it'll do the country good.

>> No.946179

>>946172
I see.
So the whole " making it harder for those who follow" is just a side benefit!
Hilarious.

>> No.946323

Warren buffet is a hardcore liberal there is a scale of the political views someone is the richer they are

30k-80k a year: republican if white, democrat if not white

81k-200k democrat all the way

201-9b republican. "Muh tax rates"

10b- and up. Democrat. Idgaf if they raise my tax rate just stop giving it to people

This list is for college grads, athletes and celebrities are a whole different story

>> No.946932

>>946323
>81k-200k democrat all the way
What?

>> No.946943

>>946932
srsly

>> No.946981

>>946932
>>946943
$95,000/year reporting in

Yea I'm a democrat. Begrudgingly though. The Republican party has been taken over by rednecks and trailer trash

>> No.946999

>>946981
its not the philosophy's fault the leaders are asshats.

>> No.947003

>>946981
And Dems have become demagogic statists and well-wishing populists.

>> No.947074

>>946323
There is so much truth in this....

>> No.947083

I disagree. You can't do a lot with the taxes of small business.
Only when you're already established playing with taxes becomes interesting.

>> No.947254

>>946981
160K reporting in.
Not a Democrat.

Already live in Cali and taxed like crazy.

>> No.947342

>>944644
Good thing I wasn't drinking anything. I rarely laugh at /biz/

>> No.947351

>>945893
technically they were since they stirred up the pot in the middle east long enough to give birth to modern terrorism

>> No.947442
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947442

>> No.947702

>>947442
I heard he didn't invest in Bitcoin because it didn't benefit the working class.
That's required for him.

>> No.947983
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947983

>>947442
if i was good at paint i would add the orville wright (of wright brothers fame) quote, pic related

>> No.948482

>>947254
Yea, Californians seem to think anyone making above $55k a year is rich and should pay for the lives of everyone else.

>t. Californian

>> No.948495

>>948482
Ah, it's all fucked up out here.
Most people can't afford homes where they rent, so they either have to move to a shitty area, or way outside the city, commuting 2 hrs a day.

>> No.948528

>>948495
I live in Vancouver WA.

No income tax and 3 bedroom homes cost about $250k or less.

I currently live in a 2 bed apt it's $1075/month

>> No.948822

>>948528
I wish.
$550K here for homes, median.
2 bd 2 bath can run $3500.

>> No.948848

>>948528
I thought Vancouver had it worse than us? Toronto here - 1 million average home price.

Average salary of around 50k.

>> No.948853

>>948482
California doesn't think, it feels. I prefer to avoid that state as much as possible.

>> No.948857

>>948848
Vancouver, WA USA. It's a shithole Portlandia suburb.

>> No.948868

>>948857
Ahh, the WA part completely flew over my head. Jeeze that's enough internet for me today.

>> No.948874

>>948848
http://www.thestar.com/business/2015/06/03/average-price-of-detached-home-in-toronto-hits-115m.html
Don't know how you guys compute this shit. The headline has your $1 mil figure, but the third sentence says that the average is closer to 650K.
What gives? And what's this "detached home" "semi-detached house" shit?

>> No.948879

>>948874
The 650k average is including condos, and detached is your standard single family home while semi-detached are referring to plots of land that are shared by two joined homes.

>> No.949005

>>948879
Yeah, I guess ours is lower because the county is something like 11 million people. And a lot of those houses are shit, dragging the average down.

>> No.950057

>>948853
>California doesn't think, it feels.
It's funny because it's true.
It's funny and true.

>> No.951050

>>950057
>California doesn't think, it feels.
Stealing this.

>> No.951169
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951169

>>947702

>> No.951179

>>947442
"The fact that some geniuses were laughed at does not imply that all who are laughed at are geniuses. They laughed at Columbus, they laughed at Fulton, they laughed at the Wright brothers. But they also laughed at Bozo the Clown."

>> No.951377

>>951169
Forgot my sarcasm tag.

>> No.951383

>>944659
agree with you, he invests in everything and pretends to have a strategy. bullshit, my guess is he has so much money, he spreads it out between 1000 small companies, if 2 make it big, hes rich

>> No.951553

>>951179
Terrible example. Bozo was highly successful and made millions of dollars, (most of it under the table.)

>> No.951554

>>951383
You clearly have no understanding of basic ecoconics if you think that's s serious possibility.

>> No.951618

>>951377
We are on biz so im not sure unless you specify it, this is Warren nuthug central.

>> No.951620

>>944866
Everyone telling you how to get rich is a meme.
Protip: you can't teach luck.

>> No.951663

>>951618
>Warren nuthug central
Oh yeah, that's for sure.
Because if Warren can do it, so can I!
All I need are some stock tips and a Robin Hood account!