worry about it but i was speaking about um... corporate taxes and i thought he
me some terrific points
uh... actually was sort of fifteen
continuing to push this we did get a lot of questions presumably from
shareholders want
one again there was from david devall and said that having political positions
are part of a black
but for the life of the i cannot understand what the c_e_o_ of a publicly
traded company
what antagonize roughly half of the political power in this country don't
you have a fiduciary responsibility to shareholders not to get into such public
an antagonistic debates
no matter what your political views might be it seems even democratic
shareholders would prefer you move to the sidelines of the political debate no
i i don't think if you're a c_e_o_ the cube
police in a blind trust i mean i don't think you give up your citizenship we
have two hundred and seventy thousand people
who work for berkshire
there's not one of them that i've ever asked about their political views or
there's not one of them i've told in any way to refrain from expressing their
beliefs
whether their religious beliefs are political beliefs and i think that
my cleaning lady
does not have a voice she doesn't have a super pack she can spend ten million
dollars trying to influence you know under free speech and free speech for
her something being read about in the first amendment it doesn't mean a thing
i do have some kind of a ability to speak out and i think that that you have
the ability to speak out and you see things with you later on i think you
ought to do
wanna talk about it
and it's funny how when c_e_o_ of ceos the young people lower taxes
less regulation more pollution that's all ok all absolutely go forward
relaxes says he let me speak for the voice was for the powerless
so that there's some equity in the country all the sudden of at
as mister fiduciary duty how bday argue
i love that point uh... warren buffett made and i'm glad that he is speaking
out on these missions
elicia metaphor
though this is a little bit tongue-in-cheek but is their attacks you
don't like this was then that that's where the game that we think improved
when did this start and here where there's another side of the balancing
witness a people like that would likely tracks i've got my tax return here from
what i was working that day seven dollars
and i can tell you that but i did not like ten percent of the horrors of that
dot
now i i
the reality is that we are going to have to raise
night eighty tapper nineteen percent of g_d_p_ rather it is an ad i certainly
think that the people were very wealthy should do more than the people like my
cleaning lady etc
i'm not gonna like it you know what i said i write the check for whatever baby
i'm not gonna like it but
i'd also like this country and i think that what this country office is
wonderful and i think a very rich country should take care of the people
to get the short straws in life so i i believe in things like social security
which is paid for by texas i'd believe that a good public school system which
is paid for by taxes
again and this is an absolutely love
news because nobody likes paying taxes i don't like peter
a special right pain 'cause i know some of something close to like these
needless wars that we have
but people going to pay those taxes
should the middle-class pay more sugar rush pay more under our current system
mit romney u_s_ quarter billion dollars face thirteen percent tax is they got in
eighteen thirty six thousand dollars pays twenty five percent in taxes nearly
twice as much as mit romney why doesn't have the payment you know he doesn't
have the lawyers who doesn't have the accountants etcetera
it's unfair and what
the buffet is saying here's indisputably true
you can't have the rich paying the least
it's just a gross injustice
how about chris christie said all well why don't you just a more bombs
let's see how we address that
before i don't think he's screaming to be taxable inauspicious write a check
and shut up
really existed should be about that
i mean you know it effected batteries dot on tired of hearing about it
if she wants it to the government more money
he's got the ability to write a check go ahead and write it
there were a lot females that came in that
similarly ako what chris christine at the same well hope there were more
eloquent adventure
you know it
it's it's it's it's sort of a tragic response to at one point two trillion
dollar deficit has been some of the american people will just also had the
chance to take care of it that was first come up with
deliverable that was sort of a couple at at
i_b_t_ epcot
uh...
at the start of astounding to me that somebody that has the responsibility for
being the minority leader in the senate
would think that
attack a one point two trillion dollar
so deficit by asking for voluntary contributions up
since he got offered a trickle has but that that's that's that's a side show
yet and by the way emmys for example it would not
uh... give those wilder transmissions insult
will warm bottom i was saying it and there
if is mcconnell does it bother you strobel them out
shockingly enough the republican senate chose not to ec thereby proving buffets
blake voluntary contributions is it going to raise you a lot of money
it's a rhetorical trick that they use with political news it was recently
quoted below
that is in his point
his point is the list everybody does it together
we're not going to be able to handle the deficit problem and i'd like to
republicans
warren buffett actually cares about the deficit
whereas republicans don't give a damn about the deficit in fact romney's plant
gingrich's plan as central as planned
would all
all add to the deficit
anywhere between two and a half trillion to seven trillion dollars it would pile
on top of the deficit white because they all gave gigantic tax cuts
for the rich
on it one last look more involved
there's an op ed in in today's wall street journal by rick santorum laying
out his economic agenda any proposes some new tax rates and policies
on corporate taxes that he's having them down to seventeen and a half percent
anton personal life he's doing just checked your brackets ten percent twenty
eight percent
of terrace of beyond just the same symbols debate
whites numbers are what are the right brackets
what the range should be
is our rates that bring in
eighteen and a half or so per cent of g_d_p_ as revenue out we've had breaks
like that brought most of the post-world war two period
uh... we managed to pull out it's not impossible
and that we just got better coverage of
roughly uh... ten years ago or less af
anything about the corporate rate is the corporate
profits as a percentage of g_d_p_ last year
the highest or just about the highest in the last fifty years they were ten and a
fraction per cent
how do you think that's higher than waiting
in fifty years
the taxes as a percent corporate taxes up as a percentage of g_d_p_ were one
point two percent a hundred eighty billion
just about the lowest leasing so are corporate tax rate last year effectively
in terms of taxes paid
the united states was around four percent which is well below all those
existing and
and most of the industrials
industrialized uh...
centers around the world stalinism that
stuffy about operations are paying thirty five percent of unlike a i'd he
is a hundred resentment about that
an aircraft active tax rate is four point one percent
in fact thirty top corporations between two thousand making twenty ten
had and negative tax rate
negative tax-free we gave them one back
that's out rages
gets worse
with their effective tax rate these different industries
industrial industries two point five percent utilities is three point seven
percent white house thirty five percent it's nowhere near
financial corporations are about fifteen imap percent
and berkshire hathaway
warren buffett's group is also between fifteen and sixteen percent
and the and they're above the national average
wells thirty five percent nobody's paying thirty five percent
and in general electric electric that they didn't take between all eighteen
twenty ten
they paid me factor tax-rate pub
negative
thirteen and a half percent
we gave them back
billions of dollars
why 'cause they've got a c towns they can fix the system
and then they go around may have been nerve to complete their corporate taxes
or low enough
because there is no end to their greed
somethings i disagree with warm baldwin on but is saying one of them
is a hundred percent right
reasonable tax free
that gets us to a balanced budget
i don't want something above that he doesn't want something about that
we just want to get to that
point what would you be actually
paid for public schools
you know
cops teachers in satara pay for the things that we need to pay for as a
society
and we're nowhere near
the way that we have a right now corporate an individual income taxes
clearly have to be rates and more about that is a great spokesperson for
in this regard
credit where credit is good