Warren Buffett, in an op-ed yesterday for the NYT:
Suppose that an investor you admire and trust comes to you with an
investment idea. “This is a good one,” he says enthusiastically.
“I’m in it, and I think you should be, too.”
Would your reply possibly be this? “Well, it all depends on what
my tax rate will be on the gain you’re saying we’re going to make.
If the taxes are too high, I would rather leave the money in my
savings account, earning a quarter of 1 percent.” Only in Grover
Norquist’s imagination does such a response exist.
I agree with every single word, including his idea to draw the “wealthy” line at $500,000, not $250,000.
★ Tuesday, 27 November 2012