15 August 2011

warren buffett op-ed

in today's new york times, you'll find an op-ed piece written by warren buffett, wondering why the government doesn't tax him more. an excerpt:
While the poor and middle class fight for us in Afghanistan, and while most Americans struggle to make ends meet, we mega-rich continue to get our extraordinary tax breaks. Some of us are investment managers who earn billions from our daily labors but are allowed to classify our income as “carried interest,” thereby getting a bargain 15 percent tax rate. Others own stock index futures for 10 minutes and have 60 percent of their gain taxed at 15 percent, as if they’d been long-term investors.
These and other blessings are showered upon us by legislators in Washington who feel compelled to protect us, much as if we were spotted owls or some other endangered species. It’s nice to have friends in high places.
Last year my federal tax bill — the income tax I paid, as well as payroll taxes paid by me and on my behalf — was $6,938,744. That sounds like a lot of money. But what I paid was only 17.4 percent of my taxable income — and that’s actually a lower percentage than was paid by any of the other 20 people in our office. Their tax burdens ranged from 33 percent to 41 percent and averaged 36 percent.
If you make money with money, as some of my super-rich friends do, your percentage may be a bit lower than mine. But if you earn money from a job, your percentage will surely exceed mine — most likely by a lot. (via)

new feist single.

How Come You Never Go There by Feist

i like it!


omg did y'all hear about this stage collapse that happened over the weekend just before a sugarland concert? 5 people died, and a lot more were injured. (warning: don't watch this video. it's too scary.)

remember yesterday?

omg, it just rained and rained and rained.
New York broke an all-time record for a one-day rainfall Sunday as up to 8 inches of water soaked the city, snarling trains and flooding roadways.
By 9 p.m., 7.7 inches of rain had fallen at Kennedy Airport.
It was the most recorded there in a single day since the National Weather Service began keeping records 116 years ago.
The heavy tropical rain is expected to continue Monday, and a flash flood warning is in effect until 9 p.m.
The normal rainfall for all of August in New York is 4 inches - which means the city was socked with two months worth of rain in a single day. (via)
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