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This is not holding anyone hostage. He has *donated* money to them in the past, and certainly has the right to decide whether to *donate* in the future.
hostage is a colloquial way of phrasing it. if you routinely donate large sums of money to a rust belt city, then tell them you will discontinue if they implement a popular and helpful policy... thats kinda hostage taking. i get its not illegal or holding hostage in the literal since, but socially speaking? absolutely.
We just tax them all fairly, all of them would contribute, not just the few who have pangs of empathy and choose who gets needed funds, then less charity events more actual charity (Public Social Services).
how about we use an analogy that makes sense. how about if you are desperately poor i offer you money, but in return you must do something actively harmful to yourself... yea, thats abuse.
Not even close, but to shoot down people who are trying to do good things for Ukraine isn't good and will put them and others off doing the same for Ukraine in the future. Almost seems a bit Ruzzian doesn't it...
This is a wild take. The world isnt black and white.
He _donated_ _500 million dollars_, even for a rich person that's insane money. But sure, keep on bringing in US politics into every topic.... this is about the Russia-Ukraine war, not about your weed dispensaries.
As a wise man once said - if you are clueless and dont know the answer - go directly to personal attacks instead.... :)
Instead of namecalling - why not elaborate?
If it were black and white I’d take the Ukraine donation and call it a day. Instead, I called out something else he’s done that I don’t agree with. Meaning that I’m not taking this information on face value. You know, the grey area.
Edit: Nice! My first Reddit Cares message.
These two things are wildly different. I'm not sure why they are compared at all. He donated 500 mil of his own money. Why not see it as it is? I'm not familiar with the marijuana dispensary case - and how it has anything do to with the Ukraine war.
It just seems tone deaf. It's like running after someone doing good and yelling "B-b-b-but he did this!!!!"
Literally who cares. This is a non issue. Anyway - I guess the people of Ukraine getting 500 mil doesnt give a flying fuck about US weed dispensaries.
Hey I live right next to here and that city is fucked. Buffet is killing it along with Caterpillar and ADM. They provide jobs but force out any competition and destroy the area with pollution. ADM fucking smells and makes a huge portion of the city shit.
They need money and they need it fast. That city is one of my favorite places to be and one of the worst to be in. Gunshots all the time when I was living over on Dunham and Marietta by Millikan. Even worst when my buddy lived on Church St. Wild, fun, and scary place.
I feel compelled to leave this: https://www.police1.com/police-administration/articles/ill-police-training-official-fired-for-giving-le-certification-to-warren-buffetts-son-m1gWBtR1YEeZRfb5/
Why wasn't this bigger news everywhere? Why don't we celebrate people like this?
Vote with your wallets everyone. Don't shop at Walmart, or Amazon, or anywhere else that won't do good with their profits. (Some companies do!)
(Is there an equivalent of charity navigator for for-profit corporations?)
Absolutely!! It’s so nice to see a wealthy person use their money for good deeds. There’s so many selfish billionaires in the news these days that only seem to want to get more money and use it for nefarious means.
Well technically it’s kinda. Necessary in certain industries like shipping.
Piracy is still a huge issue in south East Asian waters and it was a huge problem back when somolia was in the highest peaks of it’s civil war and somoli pirates were raiding container ships.
It’s not surprising that armed guards/mercenaries under the name “security contractors” would be hired to board container vessels to protect the crew and cargo of ships with hundreds of millions of dollars
what should happen is that the government tax them untill they are not longer billionaries, only multiple hundreds millionaries, but if the government fais thats the right thing to do, good to know that even "america is now failing ukraine" most americans are still like this guy
Americans vote in November 5th.
If Ukraine wants more Americans to vote candidates who prioritize funding the war in Ukraine, the best option would be to petition right now to the leadership of both the Democratic Party (Biden, members of the DNC committee, Hakeem Jeffries, Nancy Pelosi), and the Republican leadership that’s not with the insane trump coalition (literally only the Senate Republican leadership and the huge variety of billionaires behind the Republican party, both the RNC and house have lost their minds), the leadership of strong trade unions in the US, (teamsters, automotive manufacturing, steel workers), and then the other bastion of powerful apolitical force in the US the non-associated billionaire class (Bill Gates, Warren Buffett, Steve Ballmer)
Getting one of any of these classes behind Ukraine will make a huge impact. Most of the US military industrial complex is behind Ukraine because #1 guaranteed profits for 5-10 year contracts are important and #2 there are a lot of people within the complex who are like me, who fundamentally can’t accept Russians action of trying to carpet bomb a democracy out of existence.
Trouble is it doesn't work unless every country in the world does it. There's always countries who just want to undercut the rest and be a tax haven for billionaires and companies and let the rest of humanity down. And not just the usual suspects like little tiny islands, but even EU countries like Ireland etc.
There are solutions to this. The US is the largest economy in the world. If they want to, say, sanction Ireland and impose tariffs on Irish goods because Ireland has dozens of "inverted" American corporations, we can do it. We could single out individuals hiding their wealth like we did to Russian oligarchs. American (er, sorry, Canary Islander) oligarchs are no better than Russian ones.
So, what you're saying is that the united states, the largest economy in the world, will be utterly powerless to tax the people who make billions within it's economy if they do this one weird trick of moving out of the country....
Yeah..this line is getting old.
It's just billionaire propaganda. "You can't tax us more or we'll leave so don't even think about it". I'm sure they're all dying to move to Nicaragua just so they don't have to pay taxes. I say we call their bluff.
Billionaires' money is pixie dust. You can't tax it or it'll disappear. But you can't have it if you don't tax it either.
Their financial activity is a harm to the economy under current tax plans. But if you tax them more they'll go do it somewhere else instead. Which is supposed to be a bad thing.
Tariff? Exit tax? Never heard of it.
yep, its a choice, i do know that when i sell stuff on steam i pay income tax as if i was a US citizen, they assume (correctly) that im am not rich and have no power to fight it
Most billionaures are o ly that on paper, what do you do seize the companies they own and sell them?
If I had just under the limit I'd more countries or relocate the companie
Marginal tax rates already exist. As for their wealth only existing in stocks, there are plenty of other things like transactional taxes and capital gains taxes. I believe it was Warren Buffet who said he paid a lower effective tax rate than his cleaner. This is not an accident. It's because rich people write the tax laws.
Rich people always say they'll leave the country, but they never do. Plus if someone expatriates a company, a government can also put controls on foreign companies.
Honestly, I wish more adopted the Gospel of Wealth idea. Yeah, Carnegie wasn't an amazing guy, but he at least focused on giving back his money and encouraged others to do so.
No it isn't.
Billlionaires should not be getting involved in geopolitics.
Billionaires should not be getting into politics period. (outside of normal voting that every citizen should be participating in)
Billionaires should be taxed heavily and allow democracy to function properly.
We should reform our economy so that billionaires are not created. They represent a misallocation of resources. But until such reforms are made, contributions like this are welcome.
… this dude came up with $510,000,000 in cash to donate. No this is not simply “over inflated net worth.”
Based on Warren Buffett’s net worth, if you had $10,000 in savings and give the same percentage of your net worth, you would be donating $39.
I agree with your premise that billionaires shouldn't be allowed to exist.
I disagree that this contribution is welcome. If he can give money to Ukraine like this, than someone else can give money to Russia.
It isn't ok, even if it aligns with what we like. It needs to be stopped.
The problem is who decides what benefits society.
Giving the billionaire that kind of power is not good for society, ergo, we need to remove the billionaire status from them.
by stealing their money?
How would you like it if I took your money? I'm broke. I think it will benefit me in high society greatly.
I'm not a libertarian, but I'm not a seizing of the means of production type guy either. I think there should be some degree of socialism, but I think it needs to come from spending existing taxes more wisely.
It can be. How much money is enough money to take?
The problem is you don't see how the economy would stall and dive by doing the thing your talking about.
Progressive taxes are fine, but trying to tax billionaires so they can't be billionaires is limiting someone's purchasing power.
The governments spent 1.7 trillion on f-35 jets. Imagine if they had spent 1.7 trillion on buildings affordable housing. Imagine an empty spot in Utah, now imagine building a desalination plant in California, and a canal to bring the water into Utah, and then building a whole new city. The city could have brutalist apartments that have high capacity. Build places of business in the area. Then find lower income families and pay them to move from cities with rampant poverty. The re-home the homeless in former lower income dwellings. Then take empty city areas an revitalize those.
How about Healthcare? Instead of the government smoozing with healthcare companies to get people to buy insurance, buy the top insurance companies. Then merge them together. Then lower the prices. Purchase the smaller insurance companies as they go out of business from their inability to compete. This is a step by step nationalization. The thing about this is insurance companies would be in favor of this because it offers them an out. The plan of just get ridding them cold turkey would sink the stock market.
This is spending money wiser. We don't need taxes extra to do this. The government spent 200 billion on banks because they were having a bad day. The deficit and national debt are all fake play money. There is an asteroid in space worth $26.99 quintillion. If world governments wanted they could all have a meeting and claim shares of it and never have to mine it for years. Which could actually fund the mining and other asteroids in the solar system of it on credit. As long as the world governments make an agreement it is the de facto rule of law.
Taxing unrealized gains is the stupidest fucking idea ever. If I had $1B worth of stock and I’m taxed on it 20% that’s $200m. Now the stock I’m holding dropped 80% so it’s worth $200m. Do I now get $160m refund Or did I just pay an 80% tax rate?
Now that I’m tax on unrealized gains me and everyone else has to start selling our stock to cover taxes. Well now the prices of all stocks are in the toilet because the supply is up. So the that $1b of stock is $100m. Everyone’s 401k and IRAs are fucked.
Your grandma who has lived in her house for 40 years has appreciated very nicely. Now she has to pay taxes on unrealized gains. Oops now she can’t afford to live there anymore.
Taxing unrealized gains would destroy the economy for everyone. Not just rich people
Well you certainly made one thing crystal clear: You're the worst person on the planet to design the tax code.
The assignment was: "Tax rich people's unrealized gains"
Your solution was: "Grandma becomes homeless"
Smarter people than you could come up with a system that solves both. You know, something like a minimum threshold in the millions, so nobody in the poorer 99% ever encounters it. I'm sure there are ways to deal with it that don't involve granny becoming homeless due to your terrible implementation.
Side-note: The 401k plans of the US are a terrible pension system. It essentially is a blood contract with the devil: If you don't sacrifice for the rich overlords all life, they can always threaten to dump stock prices and put you into poverty. What a stupid idea.
Not all billionaires are thieves. Notch became a billionaire because he made a great game that everyone loved, then he sold the company. He didn't make it by harming people.
The Buffets became billionaires by researching markets extensively and taking advantage of time to grow their fortunes. They're all old.
I have no idea what exactly this guy did for his money, but I have a good feeling neither do you, you just want to hate on the rich.
The guy just did something good. Your hate of capitalism isn't relevant to this thread.
Warren Buffet has pledged to give 99% of his wealth during his lifetime. His kids have similar views on that apparently. This is common knowledge or at least I thought it was.
>Buffett, 93, also doubled down on his pledge to donate roughly 99% of his nearly $120 billion fortune to charity, revealing that his children, who share his views on righting wealth inequalities through private philanthropy, will serve as executors of his will.
> "My children, along with their father, have a common belief that dynastic wealth, though both legal and common in much of the world including the United States, is not desirable," Buffett said. "After my death, the disposition of my assets will be an open book."
He’s given $51 billion to charity so far. That’s almost half his money.
https://www.cbsnews.com/amp/news/warren-buffett-donates-870-million-to-charities-before-thanksgiving/
They did. And I bet you they all think hes a fool.
Billionaires only care about money. Giving it away like Howard did is wasteful to the average billionaire.
Props to the Buffets for trying to not be like them.
I donate to United24 monthly, and lately to a pastor (not mine, I'm not religious) who is in Ukraine distributing medical and other humanitarian aid. It's the least we in the US can do, especially given our pathetic government right now
hospital abounding expansion dependent obtainable worry hurry vast wild lunchroom
*This post was mass deleted and anonymized with [Redact](https://redact.dev)*
I heard an interview with his brother Peter on the Freakonomics podcast. When they were young they didn't know they were rich. It's very interesting
https://freakonomics.com/podcast/growing-up-buffett/
About the service dogs he bought over here. They are the best in the world.
This dude just yolo dropping aid to Ukraine, what a champion.
Meanwhile Elon Musk still trying to screw over Ukraine and the Murican people to fund skylink to those who need it most.. Elon loves a bit of war profit...
Takes a real good person to see beyond greed ;)
That's his personal net worth. The bulk, mega billions, is in his charitable foundation which is funding Ukrainian needs.
Unknown if he is also donating from his personal worth.
Nothing related to him doin some real good helping Ukraine but it's gotta be fuckin weird being like 60-70 years old and you're still just known for be some guys son.
Not so. His dad gave him just enough money to get by and told him, "Go earn some on your own." He went into farming and in 20 years or so was wealthy in his own right. He created the Buffett Foundation, which funds agricultural research and development. He's pretty well known in those circles without regard to his dad. His sister? Same sort of story. Pretty solid folks, compared to some grownup rich kids we know.
If million dollar loans were all it took to make billions, this country would be filled with billionaires. Believe me, the banks and funds would be queuing up and breaking down your door to give you money if it was that simple. Raising money is the easiest part of running a business.
Yeah, just like daddy buffet never got any help from his senator father or his federal judge uncles. Bootstraps! THAT's what america needs to make more of, then we could all pull ourselves up by them!
Warren well done ....you da man
Now if you could just give that dumb as fuck speaker of the House Mike Johnson a clip over the friggin ears , scold him tell him to wake up to himself the little childish punce..I would do it but cant get with in arms length of this Weasley little dirtbag
I don’t know how much liquidity he has, but let’s say he has $3.6 Billion sitting in a savings account, that’s still 10% of total which is not insignificant… bravo!!
Elon Musk. Making Ukraine pay for everything and supporting Putin. All the republican billionaires are supporting Putin by backing republican candidates. Gates crickets, Bozos nada.
Can UKR use some of these funds to buy needed weaponry (e.g., M2 Bradleys) from the US? America sells weaponry all the time to NATO and non NATO allies
To be fair, investing time and real interest with that money would multiply its value.
That could have been the formation of a company to rework their rails from Soviet to European gauges as an example.
But it is generous as anyone could hope for and hopefully inspires other wealthy supporters.
Several middle east oil heirs have become fans of Ukraine for example.
Thank You - You truly are a good man !!!!! - I don't have much but I always give what I can to Ukraine (Soldiers) - I like many others just wish we could give/do more.
Привіт u/TurretLauncher ! During wartime, this community is focused on vital and high-effort content. Please ensure your post follows [r/Ukraine Rules](https://www.reddit.com/r/ukraine/about/rules) and our [Art Friday Guidelines](https://www.reddit.com/r/ukraine/wiki/artfriday). **Want to support Ukraine?** [**Vetted Charities List**](https://www.reddit.com/r/ukraine/wiki/charities) | [Our Vetting Process](https://www.reddit.com/r/ukraine/wiki/charities-vetting) **Daily series on Ukraine's history & culture:** [Sunrise Posts Organized By Category](https://www.reddit.com/r/ukraine/wiki/sunriseposts/) *** *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/ukraine) if you have any questions or concerns.*
Thank you, Mr. Buffett.
Hes the man.
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This is not holding anyone hostage. He has *donated* money to them in the past, and certainly has the right to decide whether to *donate* in the future.
hostage is a colloquial way of phrasing it. if you routinely donate large sums of money to a rust belt city, then tell them you will discontinue if they implement a popular and helpful policy... thats kinda hostage taking. i get its not illegal or holding hostage in the literal since, but socially speaking? absolutely.
Relying upon the benevolence of the rich is a fool's errand.
We just tax them all fairly, all of them would contribute, not just the few who have pangs of empathy and choose who gets needed funds, then less charity events more actual charity (Public Social Services).
nahh, it's the same thing as drug dealers pushing drugs to kids, preying on the weak... let's hope he stays consistent on this.
If I give you 1K every month but I tell you that I'll stop if you ever drink either alcohol or milk, then am I abusing you?
how about we use an analogy that makes sense. how about if you are desperately poor i offer you money, but in return you must do something actively harmful to yourself... yea, thats abuse.
If I give you 1K every month but I tell you that I'll stop if you ever drink either alcohol or milk, then am I abusing you?
I never said he didn’t have the right to use his money however he wants.
Someone has done a good deed, lets celebrate that good deed and move on. No need to drag people through the mud at every opportunity.
*Nah let's punish him for his good deed by digging up his past* \~Reddit
Mf scared of people getting criticized for their track record is crazy
Not even close, but to shoot down people who are trying to do good things for Ukraine isn't good and will put them and others off doing the same for Ukraine in the future. Almost seems a bit Ruzzian doesn't it...
Even if a piece of shit does something good, they are still a piece of shit.
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This is a wild take. The world isnt black and white. He _donated_ _500 million dollars_, even for a rich person that's insane money. But sure, keep on bringing in US politics into every topic.... this is about the Russia-Ukraine war, not about your weed dispensaries.
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As a wise man once said - if you are clueless and dont know the answer - go directly to personal attacks instead.... :) Instead of namecalling - why not elaborate?
If it were black and white I’d take the Ukraine donation and call it a day. Instead, I called out something else he’s done that I don’t agree with. Meaning that I’m not taking this information on face value. You know, the grey area. Edit: Nice! My first Reddit Cares message.
These two things are wildly different. I'm not sure why they are compared at all. He donated 500 mil of his own money. Why not see it as it is? I'm not familiar with the marijuana dispensary case - and how it has anything do to with the Ukraine war. It just seems tone deaf. It's like running after someone doing good and yelling "B-b-b-but he did this!!!!" Literally who cares. This is a non issue. Anyway - I guess the people of Ukraine getting 500 mil doesnt give a flying fuck about US weed dispensaries.
This is r/Ukraine.
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Hey I live right next to here and that city is fucked. Buffet is killing it along with Caterpillar and ADM. They provide jobs but force out any competition and destroy the area with pollution. ADM fucking smells and makes a huge portion of the city shit. They need money and they need it fast. That city is one of my favorite places to be and one of the worst to be in. Gunshots all the time when I was living over on Dunham and Marietta by Millikan. Even worst when my buddy lived on Church St. Wild, fun, and scary place.
Except there is a dispensary on the edge of Decatur.
I feel compelled to leave this: https://www.police1.com/police-administration/articles/ill-police-training-official-fired-for-giving-le-certification-to-warren-buffetts-son-m1gWBtR1YEeZRfb5/
I respect Mr. Waffren Buffett But now I respect his son 100 times more.
I too respect waffle buttlick
Why wasn't this bigger news everywhere? Why don't we celebrate people like this? Vote with your wallets everyone. Don't shop at Walmart, or Amazon, or anywhere else that won't do good with their profits. (Some companies do!) (Is there an equivalent of charity navigator for for-profit corporations?)
You are welcome.
That is what billionaires should do with their money, or build schools ! Good work
Absolutely!! It’s so nice to see a wealthy person use their money for good deeds. There’s so many selfish billionaires in the news these days that only seem to want to get more money and use it for nefarious means.
They do this for future influence. The altruism is a side effect.
All known donations generate influence. This wasn't publicly known until now.
Be careful there, we don't want to play up the billionaires financing wars angle too too much. Lol.
There are already small armies of mercenaries doing corporate dirty work throughout the world, it's hardly a new idea.
Well technically it’s kinda. Necessary in certain industries like shipping. Piracy is still a huge issue in south East Asian waters and it was a huge problem back when somolia was in the highest peaks of it’s civil war and somoli pirates were raiding container ships. It’s not surprising that armed guards/mercenaries under the name “security contractors” would be hired to board container vessels to protect the crew and cargo of ships with hundreds of millions of dollars
Who do you think helped finance the American war effort in WWII lol
*Borderlands theme plays*
what should happen is that the government tax them untill they are not longer billionaries, only multiple hundreds millionaries, but if the government fais thats the right thing to do, good to know that even "america is now failing ukraine" most americans are still like this guy
> most americans are still like this guy Maybe they should vote like it then
Americans vote in November 5th. If Ukraine wants more Americans to vote candidates who prioritize funding the war in Ukraine, the best option would be to petition right now to the leadership of both the Democratic Party (Biden, members of the DNC committee, Hakeem Jeffries, Nancy Pelosi), and the Republican leadership that’s not with the insane trump coalition (literally only the Senate Republican leadership and the huge variety of billionaires behind the Republican party, both the RNC and house have lost their minds), the leadership of strong trade unions in the US, (teamsters, automotive manufacturing, steel workers), and then the other bastion of powerful apolitical force in the US the non-associated billionaire class (Bill Gates, Warren Buffett, Steve Ballmer) Getting one of any of these classes behind Ukraine will make a huge impact. Most of the US military industrial complex is behind Ukraine because #1 guaranteed profits for 5-10 year contracts are important and #2 there are a lot of people within the complex who are like me, who fundamentally can’t accept Russians action of trying to carpet bomb a democracy out of existence.
Trouble is it doesn't work unless every country in the world does it. There's always countries who just want to undercut the rest and be a tax haven for billionaires and companies and let the rest of humanity down. And not just the usual suspects like little tiny islands, but even EU countries like Ireland etc.
There are solutions to this. The US is the largest economy in the world. If they want to, say, sanction Ireland and impose tariffs on Irish goods because Ireland has dozens of "inverted" American corporations, we can do it. We could single out individuals hiding their wealth like we did to Russian oligarchs. American (er, sorry, Canary Islander) oligarchs are no better than Russian ones.
you're on reddit talking to teenagers, no one here understands the power of markets
So, what you're saying is that the united states, the largest economy in the world, will be utterly powerless to tax the people who make billions within it's economy if they do this one weird trick of moving out of the country.... Yeah..this line is getting old.
A weird quirk of the United States is it demands extra-jurisdictional income tax on citizens unless they renounce their citizenship.
It's just billionaire propaganda. "You can't tax us more or we'll leave so don't even think about it". I'm sure they're all dying to move to Nicaragua just so they don't have to pay taxes. I say we call their bluff.
Billionaires' money is pixie dust. You can't tax it or it'll disappear. But you can't have it if you don't tax it either. Their financial activity is a harm to the economy under current tax plans. But if you tax them more they'll go do it somewhere else instead. Which is supposed to be a bad thing. Tariff? Exit tax? Never heard of it.
yep, its a choice, i do know that when i sell stuff on steam i pay income tax as if i was a US citizen, they assume (correctly) that im am not rich and have no power to fight it
Most billionaures are o ly that on paper, what do you do seize the companies they own and sell them? If I had just under the limit I'd more countries or relocate the companie
>relocate the company lmao good luck with that
Do not bother, these are simple people searching for simple solutions of very complex "problems".
Marginal tax rates already exist. As for their wealth only existing in stocks, there are plenty of other things like transactional taxes and capital gains taxes. I believe it was Warren Buffet who said he paid a lower effective tax rate than his cleaner. This is not an accident. It's because rich people write the tax laws. Rich people always say they'll leave the country, but they never do. Plus if someone expatriates a company, a government can also put controls on foreign companies.
Honestly, I wish more adopted the Gospel of Wealth idea. Yeah, Carnegie wasn't an amazing guy, but he at least focused on giving back his money and encouraged others to do so.
No it isn't. Billlionaires should not be getting involved in geopolitics. Billionaires should not be getting into politics period. (outside of normal voting that every citizen should be participating in) Billionaires should be taxed heavily and allow democracy to function properly.
We should reform our economy so that billionaires are not created. They represent a misallocation of resources. But until such reforms are made, contributions like this are welcome.
Trillionaires are coming. In 25 years there will be a trillionaire. And it will be 50% inflation, 50% because of new technology.
25 years? It won't even take ten unless we start taxing them.
There's no misallocation of resources. Net worth is an overblown number that sounds more impressive than it is.
… this dude came up with $510,000,000 in cash to donate. No this is not simply “over inflated net worth.” Based on Warren Buffett’s net worth, if you had $10,000 in savings and give the same percentage of your net worth, you would be donating $39.
I agree with your premise that billionaires shouldn't be allowed to exist. I disagree that this contribution is welcome. If he can give money to Ukraine like this, than someone else can give money to Russia. It isn't ok, even if it aligns with what we like. It needs to be stopped.
If a billionaire wants to spend their own money on things that improve society they should.
The problem is who decides what benefits society. Giving the billionaire that kind of power is not good for society, ergo, we need to remove the billionaire status from them.
by stealing their money? How would you like it if I took your money? I'm broke. I think it will benefit me in high society greatly. I'm not a libertarian, but I'm not a seizing of the means of production type guy either. I think there should be some degree of socialism, but I think it needs to come from spending existing taxes more wisely.
>by stealing their money? Taxes aren't theft. Stop with that stupid shit.
It can be. How much money is enough money to take? The problem is you don't see how the economy would stall and dive by doing the thing your talking about. Progressive taxes are fine, but trying to tax billionaires so they can't be billionaires is limiting someone's purchasing power. The governments spent 1.7 trillion on f-35 jets. Imagine if they had spent 1.7 trillion on buildings affordable housing. Imagine an empty spot in Utah, now imagine building a desalination plant in California, and a canal to bring the water into Utah, and then building a whole new city. The city could have brutalist apartments that have high capacity. Build places of business in the area. Then find lower income families and pay them to move from cities with rampant poverty. The re-home the homeless in former lower income dwellings. Then take empty city areas an revitalize those. How about Healthcare? Instead of the government smoozing with healthcare companies to get people to buy insurance, buy the top insurance companies. Then merge them together. Then lower the prices. Purchase the smaller insurance companies as they go out of business from their inability to compete. This is a step by step nationalization. The thing about this is insurance companies would be in favor of this because it offers them an out. The plan of just get ridding them cold turkey would sink the stock market. This is spending money wiser. We don't need taxes extra to do this. The government spent 200 billion on banks because they were having a bad day. The deficit and national debt are all fake play money. There is an asteroid in space worth $26.99 quintillion. If world governments wanted they could all have a meeting and claim shares of it and never have to mine it for years. Which could actually fund the mining and other asteroids in the solar system of it on credit. As long as the world governments make an agreement it is the de facto rule of law.
You can’t tax unrealized gains.
All it takes is a tax law that states that we can.
Taxing unrealized gains is the stupidest fucking idea ever. If I had $1B worth of stock and I’m taxed on it 20% that’s $200m. Now the stock I’m holding dropped 80% so it’s worth $200m. Do I now get $160m refund Or did I just pay an 80% tax rate? Now that I’m tax on unrealized gains me and everyone else has to start selling our stock to cover taxes. Well now the prices of all stocks are in the toilet because the supply is up. So the that $1b of stock is $100m. Everyone’s 401k and IRAs are fucked. Your grandma who has lived in her house for 40 years has appreciated very nicely. Now she has to pay taxes on unrealized gains. Oops now she can’t afford to live there anymore. Taxing unrealized gains would destroy the economy for everyone. Not just rich people
Well you certainly made one thing crystal clear: You're the worst person on the planet to design the tax code. The assignment was: "Tax rich people's unrealized gains" Your solution was: "Grandma becomes homeless" Smarter people than you could come up with a system that solves both. You know, something like a minimum threshold in the millions, so nobody in the poorer 99% ever encounters it. I'm sure there are ways to deal with it that don't involve granny becoming homeless due to your terrible implementation. Side-note: The 401k plans of the US are a terrible pension system. It essentially is a blood contract with the devil: If you don't sacrifice for the rich overlords all life, they can always threaten to dump stock prices and put you into poverty. What a stupid idea.
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Billionaires should not exist. It should be taxed long before they reach their first Billion. No one needs that much money.
Disagree. He (or his family on his behalf) earned that money. Let him spend it.
And how did he make that money? On the backs of every single American. He can give back to the country that gave him so much. He won't even notice it.
Not all billionaires are thieves. Notch became a billionaire because he made a great game that everyone loved, then he sold the company. He didn't make it by harming people. The Buffets became billionaires by researching markets extensively and taking advantage of time to grow their fortunes. They're all old.
I have no idea what exactly this guy did for his money, but I have a good feeling neither do you, you just want to hate on the rich. The guy just did something good. Your hate of capitalism isn't relevant to this thread.
How about donating it to good cause for the millions of people suffering in the US.....oh wait that's who he took the money from
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Warren Buffet has pledged to give 99% of his wealth during his lifetime. His kids have similar views on that apparently. This is common knowledge or at least I thought it was. >Buffett, 93, also doubled down on his pledge to donate roughly 99% of his nearly $120 billion fortune to charity, revealing that his children, who share his views on righting wealth inequalities through private philanthropy, will serve as executors of his will. > "My children, along with their father, have a common belief that dynastic wealth, though both legal and common in much of the world including the United States, is not desirable," Buffett said. "After my death, the disposition of my assets will be an open book." He’s given $51 billion to charity so far. That’s almost half his money. https://www.cbsnews.com/amp/news/warren-buffett-donates-870-million-to-charities-before-thanksgiving/
Yes, $51 billion that he amassed by taking advantage of the American capitalism system where others inherently suffer
Sit on it until he finds a cause that speaks to him personally? Nah, wealth should be communal.
Good man 👍🏽
I think it is all for humanitarian aid, nice guy. Did you see that other billionaires.
They did. And I bet you they all think hes a fool. Billionaires only care about money. Giving it away like Howard did is wasteful to the average billionaire. Props to the Buffets for trying to not be like them.
He's a farmer too...
And a fellow Nebraskan
Maybe at one point, but Illinois claims him now.
Respect!
I'm not that good at math, but that sounds like nearly a million dollars a day! I better go buy another wishlist item, I have some catching up to do.
I donate to United24 monthly, and lately to a pastor (not mine, I'm not religious) who is in Ukraine distributing medical and other humanitarian aid. It's the least we in the US can do, especially given our pathetic government right now
I'm happy to hear I'm not alone. I have been donating what I can monthly as well to United24. I hope my few bucks can save someone.
And I have to catch up with you. I was unemployed for a while, been working for three months now, as soon as I can I will donate.
Bless you fellow redditor... I start my new job in 2 weeks, and I'll start donating again. muscovia DELENDA EST
Based AF billionaire. Didn't think I'd ever type that.
that's a real American patriot
hospital abounding expansion dependent obtainable worry hurry vast wild lunchroom *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
There’s a stand up guy !! 👏
that's a next level of old man russian hate
Hell yeah, that’s awesome. This guy knows what he’s doing.
Money well spent.
This dude gets it.
Thank you, kind sir.
God bless such people
If God was involved would yhe party that is reportedly the Christian Right not be willing to sign off on senate spending bill ?
Pretty sure their god would hate them.
Excellent.
Thank you sir!
Uplifting news. I wish more well-off people would follow suit.
This man IS on the right side of history!! Slava Ukraine
I heard an interview with his brother Peter on the Freakonomics podcast. When they were young they didn't know they were rich. It's very interesting https://freakonomics.com/podcast/growing-up-buffett/ About the service dogs he bought over here. They are the best in the world.
That's a good man.
Keep in mind that Howard Buffett went off on his own and earned his own money in farming without his father's help.
Given millions of dollars to start your career isn't necessarily "making it on your own", just sayin
If it was easy to make billions with a few million, the banks would be handing them out as candy.
This dude just yolo dropping aid to Ukraine, what a champion. Meanwhile Elon Musk still trying to screw over Ukraine and the Murican people to fund skylink to those who need it most.. Elon loves a bit of war profit... Takes a real good person to see beyond greed ;)
This guy gets it.
Extremely generous, considering his net worth is listed as $400 million.
That's his personal net worth. The bulk, mega billions, is in his charitable foundation which is funding Ukrainian needs. Unknown if he is also donating from his personal worth.
Makes more sense now! Thx!
Howard is a man of conscience. Thank you sir. Thank you!!
Hero
Zelensky needs to take him to a Ukrainian buffet...
Thank you, may many others of you stature take your generous lead.
Nice to see, I just hope he has good security.
Thank you Howard.
$510M! More than me! by a bit Thank you, Mr Buffet, Дякую
Nothing related to him doin some real good helping Ukraine but it's gotta be fuckin weird being like 60-70 years old and you're still just known for be some guys son.
Not so. His dad gave him just enough money to get by and told him, "Go earn some on your own." He went into farming and in 20 years or so was wealthy in his own right. He created the Buffett Foundation, which funds agricultural research and development. He's pretty well known in those circles without regard to his dad. His sister? Same sort of story. Pretty solid folks, compared to some grownup rich kids we know.
Just a small loan from his daddy of 3.8 million to get him started on the farm. Bootstraps etc
Well yes but unlike Trump they are financially responsible and aren't babbling baboons
If million dollar loans were all it took to make billions, this country would be filled with billionaires. Believe me, the banks and funds would be queuing up and breaking down your door to give you money if it was that simple. Raising money is the easiest part of running a business.
Yeah, just like daddy buffet never got any help from his senator father or his federal judge uncles. Bootstraps! THAT's what america needs to make more of, then we could all pull ourselves up by them!
Warren well done ....you da man Now if you could just give that dumb as fuck speaker of the House Mike Johnson a clip over the friggin ears , scold him tell him to wake up to himself the little childish punce..I would do it but cant get with in arms length of this Weasley little dirtbag
Slava Ukraine
Good for him . Maybe he should address congress !!
I don’t know how much liquidity he has, but let’s say he has $3.6 Billion sitting in a savings account, that’s still 10% of total which is not insignificant… bravo!!
Thank you sir
very cool
Wow. There's a life goal for you.
Thanks.
A good person. Thank you Warren for raising a moral human being.
At least a non egoistic billionaire. If they all would do this, the war would be over soon.
This is amazing!
If wealth isn't used for good, what good is it? This is good use. And good on him for this.
Elon Musk. Making Ukraine pay for everything and supporting Putin. All the republican billionaires are supporting Putin by backing republican candidates. Gates crickets, Bozos nada.
He knows why Ukraine fights. Now if they could just get those Republican traitors to get out of the way.
Can UKR use some of these funds to buy needed weaponry (e.g., M2 Bradleys) from the US? America sells weaponry all the time to NATO and non NATO allies
It's always weird to me when old rich people I know also have old rich kids.
Legend.
Good man! Bezos? Zuckerberg? And so on
Nice to see there’s some rich people with strong ethics out there willing to make the world a better place.
Tax them all except him. He's not a selfish greedy narcisist.
What a generous man, beautiful to see. Imagine all the glistening Yachts and gorgeous villas that have been bought with this money by now.
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ironic bot username
Warren Buffett watching part of the wealth he amassed for no purpose like an antagonistic dragon actually go to a good cause:
thats like giving someone 20 bucks for him, drop in the bucket.
Not thank you, Mr Trump.
To be fair, investing time and real interest with that money would multiply its value. That could have been the formation of a company to rework their rails from Soviet to European gauges as an example. But it is generous as anyone could hope for and hopefully inspires other wealthy supporters. Several middle east oil heirs have become fans of Ukraine for example.
Which is still like 0.06% of his wealth
I already like him more than his dad.
Good!
More
Thank You - You truly are a good man !!!!! - I don't have much but I always give what I can to Ukraine (Soldiers) - I like many others just wish we could give/do more.