| Quote: |
| I won the ovarian lottery the day I was born and so did all of you. We’re all successful, intelligent, educated. To focus on what you don’t have is a terrible mistake. With the gifts all of us have, if you are unhappy, it’s your own fault. |
| whitehole wrote: |
| I found this and thought I'd share it with all the frihosters interested in Economics. It's a short article with lots of thoughts from Warren Buffet:
http://www.schaefersblog.com/wisdom-from-the-oracle-of-omaha/ I hope you guys enjoy! |
| Quote: |
| Relative to GDP, government taxation is 18.5% and spending is 20%, so we borrow the balance. The national debt should not be a scary topic and the fact that it’s gone up is fine as long as it’s proportional to GDP. Where do we get that 18.5%? There’s 2.7 trillion in government revenues. 2.2 trillion comes from individuals, and less than 1% of that comes from the estate tax. 1.1 trillion comes from income taxes, with payroll taxes consisting of 900 billion, but it’s capped at the first $100,000 of salary. We want a tax system that encourages greater prosperity, but it needs to take care of the family.
|
 |