A few days after Leadership Summit and I’m still process in information overload. Working on a recap post with some of my favorite points/moments from the conference.
Omaha’s own Warren Buffett made news over the weekend when he suggested the “super-rich” should be taxed more. This is not the first time Warren has made this argument, and also not the first time Warren is giving the complete picture. At the Berkshire Hathaway shareholders’ meeting in 2010, Warren admitted donating his salary, to charity, as a tax dodge. This is within his right to do, but it should be noted that it was a tax dodge from a guy advocating more taxes. Also, since he is a multi-billionaire, he doesn’t really need a seven or eight figure salary. Does he deserve it? Yeah, but he chooses to not take one. Now, he can paint himself as paying less in income taxes because of it. His suggestion of raising income taxes on those that earn $1 million or more would not affect him. Berkshire Hathaway shares don’t do dividends, so there isn’t taxes that can be acquired there. His stock has a holding period of forever, and this Forbes journalist can explain it better, succinctly, as to why it benefits Warren’s position.
Warren gives a huge swath of his wealth to charities and foundations. He does a lot for teachers, and is a supporter of Omaha and Nebraska. It is admirable. Is his giving to non-profits a tax dodge? I guess that is up for interpretation. Perhaps it’s both. He has said before that he thinks a number of foundations would make better use of his money, which is why he donates to them. I’m guessing a number of self-made “super-rich” think they know what’s better for their money than a government that has run up trillions in debt since…forever.
For someone who thinks the government should be taxing the rich more, Warren’s actions have a funny way of backing that up. And, just like anyone else who thinks they should be taxed more, he can always give any amount of money to the government that he would like.
I think most people realize for the economy to turn around, and be in a better place for future generations, it is going to take some sacrifices on everyone’s part. The frustrating thing is a number of politicians seem to just push the issue down the road for future politicians to deal with at some point. Then, when some politicians do try and deal with it, they get roasted.
It is Bubba Starling day in Nebraska. From what little I know, I hope he signs with Kansas City.
Every August that passes I remember less and less that the school year is starting up. That will change come next August.
Grateful that the family endured another summer without having a functioning air conditioner in the car.
Grateful for the continued support from people I don’t know about the Online Campus venture.
I’ve never been to a state fair of any kind.
I’ve had a lot of fun, at work, filming the intros for the Colossians messages.
Thanks again to Anne and Phil for the food and fellowship that Amsterdam provides.