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One summer when I was bored I read all of the corporate papers for Berkshire Hathaway, and all of his letters to shareholders. Utterly spellbinding stuff.
the right wing, anti-state brigade are going to walk right past this thread on the way to something CG starts tomorrow about how awesome perry is.
but to discuss the point, obviously he's right.
I'd like there to be a billionaire survey, whereby we find out once and for all whether the super-rich would be put out by higher taxation. I have a feeling that the majority wouldn't be that bothered, like WB.
that people will invest less in countries with higher tax regimes, or that they will simply invest less and sit on their money if taxes increase internationally (which is what should happen, as opposed to the current trend to lower taxes which sees the US taking a lower percentage of gdp in tax than ever before in history).
what this doesn't take into account is that the most valuable market in the modern economy is opportunity to sell and the greatest strength of the BRIC countries is their burgeoning middle classes. if investors want to keep making money hundreds of times faster than it takes to actually earn it, they'll continue to pay money for access to these markets. industry needs us more than we need industry, and an agile economy, one that truly embraced choice, would have replacement investors ready to take the place of those that are currently blackmailing economies and bank rolling right wing governments around the world.
and the end of the day, investment is a gravy train - it's only good sense to make people pay for the right to ride it.
I hate the way he doesn't spend any money and people applaud him for it. Yeah, that's much better, isn't it: the fact he just lets his money *sit* there. Okay, he gives some to charity, but for Christ's sake - what a waste. I want to be able to think "Yeah, fair play, he's making much better use of that money than I would. It's probably for the best that he has it and I don't." I want... fucking... I DON'T EVEN KNOW. Something made of gold.