The world’s 2nd richest man has some simple advice (11 Photos)

  • Yo Yo Ma

    I bet you he gets so much pussy!


      totally missed any positive that came from this post you TARD… I was inspired and you were… well… not thinking what-so-ever… "FIRST" would have been better.

      • Yo Yo Ma

        He probably calls it a "Pussy Buffet" because of the variety.

    • Chris Moltisanti

      One can feel amazing by upvoting this comment. Encourage your children to upvote this comment too.

    • josh

      You missed his message, he is happy with his own hand.

  • cajun carrot

    Don't forget, buy out as many politicians as you can.

    • maggiemay13

      At least he is one of the few rich guys who donates over half his earnings to charity and has pledged to give away 99% of his fortune.

      • JOHN

        The other "rich guys" have no obligation to make you happy by donating their money, just like YOU have no obligation to THEM. If you had their investment savvy you would make the same money. Worry aout yourself.

        • asdf

          no obligation? You mean like show for work on time, do your job, don't ask questions, don't form a union? People always say that time is money, but I think "the other rich guys" have tricked us into that mentality. I believe Life is Time, and Time is Money. Which do you hold more dear of the three? yeah. I thought you'd pick Life too. You lease your Life out to do Time for these "rich guys" to compensate you with Money. What/Whom you choose to lease your Life to is up to you. I say invest it in Yourself! That way you only have your Self to blame.

          • JOHN

            Is someone forcing you to work for these people? Why don't you start your own company. Asdf you are the problem. Instead of trying to perpetuate the belief that you are a slave to "the system," or "the man" maybe forge your own path. If you really think you are that helpless then yes, you ARE powerless. Stop trying to remake the whole world in your image of what is "fair" and do for yourself and yourself alone. I don't ask you to live according to my ethics. These rich people risk their assets seven days a week while you risk nothing and earn a paycheck while damning them for making more money than you. I know more business owners making less money than their employees because they are trying to keep their business afloat. Once you have understood what it means to make a payroll and mortgage your home 3 times i will take you seriously. But your world vision is probably too myopic to understand the initial risk vs reward that the rich must endure before earning a plush income.

            • asdf

              wow JOHN, you completely missed the point. I take it reading comprehension wasn't your strong subject in school huh? I am starting my own business. SPOILER ALERT for JOHN! That's what the last three sentences represent. That being said, I don't see in any way how I am the problem. The problem is simply idiots who spout off at the mouth like yourself with no idea what they are talking about.

              You spouting off about business owners making less than their employees, because they are the ones trying to keep the business afloat, is like a reporter asking Jim Mora about the playoffs. Basically what I'm saying is, why don't you get out of your daddy's basement and make something of yourself, because with that rant of yours up there, I clearly hit a little close to home for you on this topic. I was tired of helping the rich get theirs and decided to go get mine. it's as simple as that. I guess I'll just use smaller words for you to understand next time. Good Day!

              • JOHN

                Personal attacks regarding my intelligence or my station in life (both of which are false by the way) are the last resort of an individual who has run out of arguments based in reason. Its you who are clearly missing the point if you are still telling people how they should be utilizing their time. Once again focus on yourself as you claim to do and don't blame others for your problems. Keep calm and Carry on.

                • asdf

                  Yeah. I'm telling people how to live by suggesting that people live for themselves and not some mogul that will fire you quicker than give a crap about you. Again, you're still missing the point. All I was saying is that people should invest in themselves. That means, get an education, start a business, go out and try. Not just simply go to work for some business that exploits its workers to death. Actually as close to death as they can, before sending them on their early retirement or layoff, just to get out of paying their dues for their retirement. My focus is on myself and my family, and I've never blamed anyone for MY problems. Now, the problems of this country are a whole other matter, and I'll go toe to toe, tit for tat, with anyone that isn't on such a high horse that they'll claim "asdf Your the Problem" and then turn around and say "Personal attacks…are the last resort of an individual who has run out of arguments". .no yrraC dna mlac peeK

                  • JOHN

                    You claim the owner of a larger company does not care about his or her employees because that person lays off 10,000 of 20,000 workers so that company will remain solvent. The difference between the afforementioned situation and a mom and pop biz laying off 10 of their 20 employees is scale alone.Those hypothetical figures also don't account for investors planning their retirement around the success of the firm, or countless thousands depending on business from that firm so that their respective businesses can be successful. Further, companies rarely rid themselves of their best employees, only those with salaries that overshadow the extent of a workers abilities. I am definitely an advocate of small business but I am also an advocate of larger companies. I am sorry but the homespun system is not viable for the mass production of contemporary technologies including the very computer on which you are typing. Try examining the larger picture and leaving emotional prejudices re big business out of the equation. If you don't like what the companies have to sell don't buy it, even if it is less convenient.

                    • asdf

                      So what about companies that lay off thousands of workers and then claim record sales and profits? Are you telling me that CEO gave a rat's ass about what he was doing to those families that he just laid off in loo of a bigger bonus? I think not. Further more, it's usually not the people on the board that get fired/laid off. it's the factory workers, the fork lift drivers, the assembly line workers that get the ax. I know, I've been there. So who do you mean when you talk about "best employees"? To leave the practices of Big Business out of the equation is the same thing as putting your head in the sand. Would you let someone keep punching you in the face day after day after day? or would you eventually start going to the gym and empower yourself to not take such abuse? or am I being too improvident? Remember now, you attacked me for just trying to say people should invest in themselves. That people should use their life wisely, because none of us know exactly how much time we have on this rock. I'm beginning to think that you are part of the "let's convince these lemmings that Time is Money, so let's make them work all the Time so we can make more Money."

                    • ShakeyTheMoyle

                      In summary……..So after alllll that John and asdf both said the same thing….invest in yourself and don't worry about others.

        • maggiemay13

          Hey JOHN, I realize that rich guys have no obligation to make me happy or anyone else. No one has that obligation, it a choice to make other people happy. Warren Buffet has made his millions and billions and has realized he won't ever spend even half of what he makes in his lifetime so why not do some good with it. All I was saying is that Warren Buffet is a respectable man for how he has chosen to live his life and spend his money and I think more people need to take note from him. Maybe you being one of them, he chose to make people happier by donating the majority of the money he makes to charities. You choose to get on a website and spread hate, so why don't you go ahead and move along.

          • Nelly

            i like you maggie ❤

        • Boss

          You guys both realize you are arguing anonymously on the internet, right? If I was your bosses, I'd can both of your asses right now for wasting company time.

          • asdf

            "Hold on. I gotta beat this boss"…..punches Boss in the face…"there I'm back."

            STFU Boss. If you'd been paying attention the the argument, you would have figured out that we're both the bosses of our own companies.

      • 1manband

        just like Obama pledged to end the wars and pledged not to raise taxes?

        • DoomsDayDub

          I'm sorry, but he just ended the war in Iraq, and hasn't raised any taxes. Are you saying good job Mr. President or are you just an idiot?!?

          • wadda noob

            haha, "ended"

            • ShakeyTheMoyle

              On Pres Bushes time line….he can't do anything without blaming BushxD

          • 1manband

            If you mean "ended" as moving the troops from Iraq to Afghanistan instead, then yes, the undeclared Iraq war is "ALLEGEDLY" over. But moving troops to another war instead of bringing them home is not ending the various undeclared wars nor is starting new ones as "NATO Operations". Clearly, you do not understand enough about fiscal policy to understand what inflation is. And you call me the idiot? Do America a favor and do your homework (as I have) before you run your mouth on your erroneous beliefs. Beliefs do not equal facts.

            • DoomsDayDub

              So are we still in a current war in Iraq? No, we are not. Did Obama raise taxes on anyone? No, he did not. In fact he has kept tax cuts in place and provided extra payroll tax cuts. So basically your false ass argument is shit out of luck. Did some soldiers move from Iraq to Afghanistan? I am sure they did. Did all of them? Nope. Did thousands come home since the war in Iraq is over? Yep, sure did. What the hell exactly did you research before you posted? The interior of Rush Limbaugh or Ron Paul's anus? Also, yes we, along with many other countries stood with NATO in supplying support to Libyan reberals, which by the way worked and is over also. Just do the world a favor and stay home on election day.

      • mmm

        GOOD POINT. not too many people have the ability to point out the positives when there is so much negativity!… good call Maggie!

      • shaunvw

        smartest comment in this thread

        • @JmsMr27

          I remember when I came to this site just to have a good laugh.

      • Adam

        What charities has he contributed to? Not all charities are equal…

  • echogeo

    That must've been his phone under the running water.

    • mihaisuzuki


  • Robert


    Baqsically he's telling all of us it's too late.

    • Robert


      And I meant aspect number 1, not picture number 1.

    • Vee

      More to the point he was telling you to ensure your children have the best possible financial status they can by investing early if you weren't able to, by assisting your children to be financially responsible they can and probably will lead successful lives.

    • Derbymon

      No. It's not too late; Right Now is always perfect. I won a contest when I was 12…won a stupid share of stock. Boring. One share. I began to notice that I got $$ in the mail….I have continued to do so and made millions of dollars. In good shit…not booze & death.
      Invest in right-livelyhood, do the right thing~ it comes around.
      This guy is Awesome!

    • etcrr

      it is never too late

  • Unfkngblvbl

    This is who should be our Commander and Chief.

    • Dutch

      Commander IN Chief, dumpy.

      • hello please

        dumMy, skupid.

        • Simon

          sTupid, ritard.

          • James

            rEtard, prikc.

            • dirtysteve99

              priCK, ashsole

              • Keith

                asSHole, moaron.

                • Derp

                  mooron, whendoe liquor

                  • ....

                    condom cleaner

                    • JHL1


    • Adam

      No, he's much better as a behind the scenes kinda guy. For instance, if Obama cancels the pipeline, forcing the oil to be sent over Warren Buffet's rail road, then well, that's just a happy coincidence. If he were actually in office, there is no way he could have made any money off that deal…

  • The dude

    Like a boss

  • relgnef


    • Mr. H

      what a butthole, really….

  • Oddie Monsta

    I freaking like this guy

  • Vice

    Ok sounds good.. on a side note I got a new charity its called : Getting me through College … Interested Mr.Buffet?

    • Jim Doe

      You know your a needy bitch when $31,000,000,000 isn't enough and you demand more.

    • todrunk2fck

      Having fun Occupying Wallstreet?

      • Get-a-clue

        Love it. Get a simple job, and save. Take the iphone you just did this on and shove it. Then when and if you graduate, continue to save. Then you can buy what you really NEED.

        • Get-a-clue

          I should be more clear that this is directed to Vice. Pretty sweet name by the way!

          • Vice

            Haha Thnx , not wanted to be a brat or anything. Its just I make 15k per year with my parttimejob my dads makes 65k per year and my University costs 50k a year..

            • Dick Salad

              And how many scholarships and grants with 'free' did you earn? Or is that too much work? Good job choosing a school that costs more than you can afford though! I hope your art major in Scandinavian underwater basket weaving works out!

              • Dick Salad

                with 'free money*' did you earn?

              • @TheCastro

                Most people don't have scholarships when they go to college, I assume that's what you were asking Vice about, because your first question doesn't make a lot of sense. Scholarships are very competitive, did you get to the NBA or NFL, or was that too much work Dick Salad? Most colleges are out of people's price ranges without student loans. For profit schools and schools that use student funding to pay for sports teams and advertising contastantly keep tuition prices high, even if the quality of the education decreases. Actually underwater basket weaving is a real profession, that pays quite well because of the quality of baskets used. Why do you assume that's Vice's major, not computer science or history or photography? You're obviously a moron.

                • Suckanus



                • Vice

                  Thnx ! my major is Biomedical Engineering scholarship..
                  Will be oright in couple of years , Only sucks right now..

                  • Chiver

                    You'll be doing big things Vice and Dick Salad… will probably be still Dick Salad. haha.

                  • I_Hate_Paula

                    Then don't complain about having to spend too much on a university you chose to go to. Earn your own way through college. Don't beg for money from other people. Do your own work.


                • Dick Salad

                  You must be the moron if you think the only way to gain scholarships is through sports… keep on supporting the lazy and needy bitches who can't lift a finger to help themselves though. I'll keep on enjoying my job and college that's paid for and grants me a stipend as well.

        • Ramrod

          No shit. I like my stuff and I don't need half of it.

    • mitter78

      As a matter of face…he does give out scholarships to students going to school at a Nebraska University. It is given to those students whose parents don't make much money and they have to pay for college themselves.

  • echogeo

    Someone got Warren's mords all wixed up.

    • BigManJones

      E. Is definitely the best advice anyone could give.

    • webster's dictionary

      E translation: Don't buy junk, instead buy on others who are in necessary otherwise. Got it!

    • JHL1

      Ah, I get it. E. is telling me to get a hooker.

    • Merd Mord Mort

      hehe, you said "mords"…seriousiality loot kit up

  • Skedaddle

    Great advice and wisdom. Thanks, Mr. Buffet.

  • JoeyWJ

    Buy a farm by delivering news papers?

    <img src=>

    • Guesty

      Prob impossible in this day and age haha

    • phydor

      By golly I've saved my wages as a bowling alley pinsetter to invest in the William Hearst empire. My future's paved with gold and zanzibar root, by golly! Pip pip!

      • the commentor

        That was hilarious

      • ShakeyTheMoyle

        Pip pip…..I was rollin xD

    • Deads

      I can imagin several ways how he might have done it.

      There might ahve been circumstances that allowed him to buy this farm at a rly low price.

      The farm could have been deserted (lowering its value), owner might have been forced to sell and he was the only one who wanted to buy it.

      Pretty much impossible thesedays. You can still do things like this but not with paper route money.

      • Colin

        This is very true given that paper routes aren't much of a thing these days.

    • ygnn

      Ant farm

      • ThatGuy

        Ha. I lol'd

  • DickMuncher

    Turkey Gobble!!!!!!!!!

  • @Dieselbaron

    I am in aw of this man everything he said makes so much sense to me time to change my living

    • Narab Leseid

      *and learn spelling and punctuation; your…um, you're on you're…um, your way! Good Luck poopy pants!

      • Dam done good

        fuck off pretentoiuauois bitch.

  • anon

    i am from omaha, nebraska. this just goes to show how midwest values are truly the best! i was raised on almost all of his advice thanks to my parents and grandparents (who went to high school with him!) he's been to my college to speak and he is the humblest and kindest of men i've ever encountered!

    • JOHN

      Tell that to the 5 former governors of Illinois in Federal Prison.

      • dirtysteve99

        ^ aaaaaaannnnd, moral superiority deflated in less than an hour.

        • Jillian

          Ha fart face silly goose nerd boy.

          • Royce

            Chive on from Scottsbluff, Nebraksa. Didn't know I was the only one on here.

            • Bob Lee Swagger

              Nebraska: Where dreams go to die.

    • asshat

      my mom is from Iowa and my dad is from Arkansas where i live, i can tell you southern and midwest values are very close. this man understand the system and has played the game right. we al, north, south, east and west can take his life and use it as a standard.

  • Get Real

    #11 says the billionaire – you have to be loaded to think like that to begin with

    • truth

      Or too ignorant to understand what he was saying.

    • Tatts

      Sorry but no, you don't.

    • Kevin

      Get Real is clearly not ready to hear this information. You don't need anything to believe(think) something. If you want to believe something, you just do it. You obvisouly believe in ignorance.

    • shaunvw

      I have a $60000 house, a wife that likes to have sex with me, the cutest little 1 year old daughter anyone could ask for, live my life paycheck to paycheck, and I love my life and consider myself to be very happy. State your case now "Get Real"

      • ShakeyTheMoyle

        I made 25k this past year, am single, have family and friends that I love and like and love my life…..Get Real needs to get real!

  • Weird Al

    They say money doesn't buy happiness, but see how hard your life is without it.

    To quote Weird Al – "If money won't buy happiness, I guess I'll have to rent it!"

    • Lisa

      I'm pretty sure having a lot of money would solve about 99% of my life's problems

      • non

        What percent of your problems were caused by your need for money and material things?

        • Dick Salad

          Ignorance is bliss don't ya know?

        • Lisa

          about the same percent as the problems in your life that are caused by you being a judgemental a-hole who can't take a joke 🙂

          • non

            Why are you angry at me? Ask your self what I asked you. If you are honest with your self you will realize that our need for money and material things is a big source of our own personal dilemmas. Like me. If I didn't care where I lived, what my phone is, what I drive and what I wear, I wouldn't need to work so hard just to cover the cost of that crap. I would probably be eating healthier food, be less stressed, and I would probably be able to afford the best health insurance, but no. I had to buy that stupid phone!

            • dirtysteve99

              'f I didn't care where I lived, what my phone is, what I drive and what I wear,'

              So, gutter, none, shopping cart full of cans, and piss-soaked trousers., and then you'd be eating healthier and have less stress?

              Tell us more of your cracky stories.

              • non

                I didn't realize how complicated my point is.

                Consider what transcendence means. If you can rise above the need for material objects and worldly possessions you will reach nirvana. It is a very hard thing to do, practically impossible but it is the ultimate in happiness. Imagine being completely unburdened with insecurity because you want for nothing. I'm not saying this is completely achievable but this is a worthy thing to set your life goal towards.

                • dirtysteve99

                  Ah, it's one of THOSE posts.

                  • non


                    • dirtysteve99

                      if you don't need worldly possessions, wtf are you doing browsing the chive on what I assume, is not a purely spiritual device?

    • Guesty

      Exactly tell that to a poor man on the street who has no food, no clean clothes, no home to go and cant get a job because of that situation, who has no family to help him… "money doesn't buy happiness" :/

      • Dick Salad

        What about the homeless people you encounter who are perfectly content with their station in life because they understand that they mostly did it to themselves. I actually enjoy meeting those ones and will gladly hand over a few bucks.

      • Fuck You Guesty

        Shut the fuck up, Guesty. You're the exact type of person who should heed to this kind of advice, you miserable fuck. I know a whole shitload of people who aren't happy and who aren't rich. Dalai Lama, MLK Jr., Malcom X, Mother Theresa, Ghandi, Jesus…want me to name more?

        I could provide you with some links to the sites of missionaries and doctors/physicians who are in third world countries right now, earning a fraction of what they would in the States. Not everyone's an asshole like you.

        • Jak

          Hahaha. He threw Jesus in there…CLASSIC

          • Lisa

            Jesus ALWAYS wins

        • dirtysteve99

          'Aren't ' I should imagine so, only one person on your list is still alive!

  • WB Nut Hugger

    I had the privilege of meeting the man himself roughly 5-6 years ago. He's really a special guy. Its a crazy feeling talking (very briefly) to a man who not only owns your company, but has a net worth greater than most nation states. I met only 1 other billionaire and he was the complete opposite – just a terrible human being. It made me appreciate Mr. Buffet even more. His partner Charlie Munger is just as fascinating.

    • dirtysteve99

      who was the awful billionaire? that's what people are interested in!
      It's like when you hear that a celebrity is really nice – boring, but I hear Val Kilmer is a complete bastard!

      • Blumpkin

        Um, Iceman! Makes sense.

      • felix43

        warren buffet is the complete bastard, watch "The 1%" a documentary that came out years before the occupy movement made you want to roll your eyes every time you hear the 1% now. His grand daughter did an interview in the movie and he disowned her. Real sweet heart huh?

  • BigManJones

    Holy Fucking grammar, Batman. Did you read any of this before posting it?

    • PDY

      While we're on criticism; Bill Gates is not the richest person in the world.

    • squid

      hey, just do what you feel good bigman, it's the only to be

  • First?

    Grammar? This quotes lack it.

  • whyme1973

    They forgot to mention that you need to complain that you don't pay enough in taxes after laying out millions in taxes every year.

  • Guest

    #4 and $5 – Bullshit! – He does have a security guard and does fly via private jet

    #8 – I guess he thinks Jay Z, Obama and Hillary are not high society ?

    Sure Warren Buffet is off the chart wealthy, but he is full of hypocrisy! He thinks you and I do not pay enough taxes, yet does everything is his power to avoid paying them. Not to mention he can write a check to the Federal Government anytime he wants to but refuses to do so.

    Also, his railroad is the biggest beneficiary of the Keystone pipeline getting blocked, which would have created 20k jobs and lowered gas prices for everyone.

    • David

      warren buffet has said multiple times that the rich need to pay more taxes and that he would gladly pay more taxes…he does not avoid them by any means

      • Guest

        Then why doesn't he cut a check to the government?

        Or he can lead by example at pay the 35% tax rate than 15% capital gains rate?

        He pays himself $100k a year, well below the average rate of a CEO to avoid taxes. Keeps the rest of the money in the company to pay the 15% capital gains rate.

        Not to mention, rather than pay the "death tax," which he supports buy the way, he is giving his money to the Gate Foundation.

        Buffet avoids paying taxes every imaginable way.

        • TheJoeGreene

          Because bailing out the government means they'll just dig another hole instead of reforming to the point of running correctly.

        • Jim

          Why should he have to pay for the governments mistakes? He is a smart investor and uses his money wisely.

    • Michael

      Your a complete dumbass! Warren Buffet OUTRIGHT said TAX ME MORE. Get your damn facts straight before you bash one of the best business men of all time.

      • Guest

        Then why doesn't he cut a check to the government? You can do that!

        • Bryan

          what message would that send to the government? he is trying to change the tax policy

          • Guest

            Simple – it would send the message "Hey, I am rich, I can pay more taxes, I have been paying a 15% rate, it really should be 35%, US government here you go. Other billionaire you should do the same."

            • 6 crack rock minimum


              you sir are an idiot. one person cutting a check to the government does very little. raising the tax rate across the spectrum brings in much more. Buffet plays by the rules as they are written. He gave billions to the gates foundation which does much better work with the money then the gov't would do.

              • Honest

                Yet increasing the taxes will limit the amount of extra income they have to use to increase their companies. Hence, less hiring. I think your name speaks for your thought process.

                • JOHN

                  Not to mention the jobs being produced overseas by American companies fed up with a bankrupt tax code. Look at how efficiently government spends money NOW before you decide you want people to throw more money at it. Read more Ayn Rand

                  • andy

                    this makes me laugh. name dropping ayn rand is basicly the litmus test that proves someone is uninformed and/or a tool bag.

                    • Jak

                      I don't think he was condoning it but rather condemning it. But I could be wrong.

                  • Jimmy Knickers

                    Ayn Rand was a sociopath who worshipped a serial killer. Find another hero or maybe learn about being a US Citizen. It's a privilege to be able to pay taxes and vote in this country. I have the same vote as Buffet and Munger.

                • non

                  That isn't really the problem. The money is there to invest. The large companies that you want to give more money already has enough money to reinvest. They are not reinvesting because they don't see growth because consumer confidence is down. People aren't buying shit cause they cant afford it. Instead of buying that new 40 inch tv, people would rather hold on to that cash in case they need it to pay the rent.

                  • Honest

                    Correct. But taking more of the corp's pockets wont help re-invest/hire/etc either. That is, once we finally get out of this "recession". Sooo, to tax heavier right now serves no good to anyone. You dont hit people up for $$ when everything is down. You hit them when everything is up.

                    • non

                      Well, how do you encourage consumer confidence? How do we get the economy moving?

                • Ian

                  Except that the uber rich have pretty clearly shown (despite their claims to the opposite) that taxing them less does not help create jobs. If you want to improve the economy, give money to the poor. Taxing the rich does this, which is what he is advocating for. As for cutting a cheque to the government, that's just a ridiculous idea.

                  • Markus

                    Exactly. If low taxes were the key to a strong economy, we should be through the roof right now as taxes are the lowest they've been since the Great Depression. Conversely, taxes were 70-90% at the highest end during the 50s-70s, when the American economy was at its strongest.

        • non

          $31 Billion in charity buddy. what other check should he write? Do you realize how humongous $31 billion is? He gives that away. That is the check he writes.

          • Honest

            What does that have to do with writing a bigger check to the gov if you want? You know, since he "feels" like the rich should pay more. I think what Guest is saying is he should just do it, instead of talking about it!

            • hMMMM

              You guys claiming he should cut a check are fucking retarded. If you're a animal-rights activist, would you cut a check to a group of seal hunters??? Why the fuck would he cut a check to the gov't if he doesn't agree with many of its policies? If I was in his shoes, I wouldn't cut a damn check to this corrupt gov't of ours, just so they can have fucking $15 muffins at their meetings. FUCK THAT, GO BUFFET!!!!

              • John

                Then he should stop saying taxes are too low.

                • non

                  He is saying taxes are too low relative to our expenditures. You have to raise taxes somewhere to cover current(take not, current, not future)expenditures. You can't raise taxes on the lower 99% cause that would ruin consumer confidence even more. Imagine adding taxes to a family that can barely get by. That would me they would have try to even be more frugal. Imagine millions of families being more frugal. That would mean less retail sales, would mean less demand for manufacturing, would mean less jobs.

                  • Guest in PA

                    So which came first – the expenditures or the taxes? It was the expenditures, since there was no money to pay for "cash for clunkers", 2nd round of auto bailouts (first round by Bush), Obamacare (not yet enacted, but just wait until THAT bill comes due), etc. You get my point – the expenditures came first without regards to how to pay for them, and now they are looking for the "sugar daddy" to pay for their decisions, i.e. the 1%. Funny – people were ok (or seemed to be OK) with Bush until the last few years of his 2nd term, where he started spending more. Many conservative Republicans chastised him for this, and this helped Obama get elected – remember Hope and Change, new way of doing business, transparency, etc. I even remember a debate where Obama said he'd go through the budge with "surgeon like precision, cutting waste". This is what got Obama elected. Now, he''s acting like Bush (and worse!) but no one seems to be screaming for his head like they did Bush. Now, they are screaming that the 1% should pay for all of this.And one last thing – Solyndra. Flat out fraud. At least Halliburton's gain were that they won the contracts/bids and actually provided work in return – Solyndra was pure payback for their campaign contributions.

                    • non

                      As complicated as you have put it, it's even more complicated than that. The collapse of the economy(never mind whose fault it is cause that's more complicated) in2008 brought about a huge loss in consumer confidence. People stopped buying shit. Really stopped buying shit. Biggest loss in consumer confidence the 1930's. Companies were essentially over invested, they had too much product and not enough capital. Meaning they had to borrow money to cover operational expenditures. Banks with out the bail out would not have been able to lend companies the money to cover expenditures, meaning no salaries can be paid. People with no salaries can't buy stuff triggering an even deeper cut in consumer confidence. Not to mention that in order to avoid legal liability a lot of over leveraged companies would have declare bankruptcy. this is all interrelated to how much we spen. I can go on and on about this. This is a very deep complicated matter. I got all day too. lol. Keep firing away.

                    • Guest in PA

                      I agree – much bigger than what we, or anyone, can explain. But TARP was a very small amount of debt that Obama has committed the US to pay for – and now it needs to be paid. My concern/question is – why wasn't this thought of prior to spending? Me and you see if we can afford something before we spend, or at least realize that if we finance the purchase, how it's going to affect our budget. The government does not seem to do this, unfortunately, since, unlike you and me, they have an unlimited supply of money in the taxpayer. If we overspend on our household budget, we're in trouble for the most part, and may have to get a second job, assuming we still have our first. This is the issue that most people have with Obama – he spent without knowing where the funds are coming from. So when someone like Buffet et al. gets up and touts increasing taxes on the 1%, this is frustrating for those who are in the 1% and have been paying (albeit through loopholes, etc.). Personally, I have increased my income, and also spending, due to my hard work since spring 2008. I am in the 2nd highest tax bracket and very close to being in the highest. I will look for any means necessary to lower my tax burden to this government, at least until they start spending wisely. But leaders lead by example, not words. I know this works – this is how I nearly doubled my income. Having someone TELL me what is a good idea is exactly that – AN IDEA! SHOW people how it works and they will follow.

                    • non

                      The thing about the money spent on tarp, the bailouts and the stimulus, they all to me seemed to be a necessity as I understood it. In my opinion, had McCain won the election, he would have needed to do similar things. The stimulus for example, sounds like a very left wing way to solve the problem of consumer confidence but it actually is the only way to do it. Because half of it was a tax break, the single largest tax break in US history, it was actually more of a supply side stimulus. More of something a republican would have than than what a democrat would do. A regular democrat would have probably given more of that stimulus money to the government than the public sector which is what he didn't do. People are complaining about the stimulus but in actuality that is the best tool for low economic growth. Give the money to the people who will surely spend that money and that money will flow into retail causing the need for more manufacturing causing the need for more jobs. Right now the poeple who will surely spend the money is the 99% and not the 1%. That all goes back to the lack of consumer confidence.

                    • ShakeyTheMoyle

                      People are complaining about the stimulus but in actuality that is the best tool for low economic growth. Give the money to the people who will surely spend that money and that money will flow into retail causing the need for more manufacturing causing the need for more jobs.
                      Really…you think that money made it to the "people"? lol wow have I got some great swamp land in LA to sell ya…

                    • non

                      I am not saying it is an efficient means of solving the low growth/low consumer confidence. I'm saying it is one of 2 tools you can use to solve that problem. There are really no other obvious tools. Obama used both. Lowered interest rates to encourage borrowing and in turn spending(but people borrowed and didn't spend), and the other is the stimulus which embraced right wing ideology by pushing the largest tax cut in history. Ask your local econ professor.

                    • Yeah I Said It

                      Bush signed TARP, not Obama.

      • warren the hypocrite

        then why hasn't his company paid taxes —
        from the huffington post — (not generally a bastion of conservative politics)
        "Berkshire Hathaway, the eighth-largest public company in the world according to Forbes, openly admits to still owing taxes for years 2002 through 2004 and 2005 through 2009, according to the New York Post."

        he's a great businessman but also a great hypocrite.

      • Neal

        The tax more he says he should be paying isnt about income taxes on the rich but the classification of earnings for hedge funds and similar firms. Capital gains are 15% because that money has already been taxed at the 35% corporate level and then get dinged again when the rest is paid out to shareholders. Hedge funds have a loophole that allows them to have those earnings taxed only at the 15% rate.

        Most super rich pay more than their secretaries, he doesn't and hedge fund guys get away with that low rate and the loophole should be closed. I am a trader, it wouldn't even benefit me if it happened, heck it could wipe out how I make a living but it is right. I respect Warren Buffet but it is irresponsible for him to take this position while being totally misleading on the facts.

        • ShakeyTheMoyle

          How dare you deal in facts….hrrrumph hurrumph herrrrumph!!

    • Obecny

      Do you even read the news? Most of the oil that would have been piped by the Keystone pipeline would have been sold on the international market thus doing jack shit for US gas prices. Why would he write a check to the government? Just so they can spend HIS money frivolously too?

      It makes sense that a tac break for the wealthy helps the economy way more than it helps you or I. When an ultra rich person gets a tax break their millions gets spent thus helping the economy. When you or I get a tax break our $12 does shit for it.

      While some of this post may have been a bit inaccurate I believe it gets the general point across.

      • Guest

        That is not true about the pipeline. It would be refined and used in the USA for lower operating costs than having it shipped via rail.

        Buffet should since he is saying he is not taxed enough. Point is, taxes should be lower for everyone, and if you are rich and think taxes are too low shut your mouth and write a check to the government.

        • Obecny

          Fuck it. I am not getting into a political debate with some fucktard on the internets.

          • Oilman

            Well, thank god. Because you were talking some nonsense.

        • Markus

          It is true, actually. We are currently a net exporter of gasoline. If the oil companies were actually concerned about US prices, wouldn't they sell that in the US, thus increasing supply and bringing down prices? But they don't, they like higher prices in the US, so they sell the excess overseas.

          The world oil market is too big for us to make a dent with this pipeline.

    • non

      Stop watching fox news. Did you know that of all the studies related to the keystone pipeline there is only one that was not financed by the Transcanada, ConocoPhillips or some other petroleum company that has stake in that project, and those guys don't seem to agree with that 20k number, not even close.
      Also buffet isn't advocating that my taxes are raised. I don't make anywhere near $250k annually. Seriously, do some research.

      • Don

        You should stop drinking the kool aid. Most wall street analysts and economists agree with the 20k number. Only ones that don't are by environmental groups that freak out anytime they here the word "oil."

        If he thinks taxes are too low and pays just a 15% rate, he is a hypocrite.

        • non

          The wall street annalist have only the studies funded by the petroleum companies to go bye. Of course they will infer a positive opinion if all they see is what the petroleum companies give them. There are practically no studies that go against the pipeline because they are all funded by the same group. Seriously. There is only one independent study out there. I can't remember which Uni it was though.

          • man man

            TL; DR.

          • Don

            Newsflash – Wall Street analysts and Economists conduct their own research!

            • non

              Financial research maybe, not long term scientific research. What would be the point in that?

        • Ha.Ha.

          I refuse to credit any saying from a person who doesn't know the difference between "here" and "hear". You sir, you're not allowed to post on this subject, due to the fact that you're a retard.

          • Jak

            How many times did you read this to make sure THERE WERE NO mistakes before submitting?

    • dirtysteve99

      Since when the fuck is Jay-Z high society? Don't see him often at Mrs.Chatworth's cotillion!

    • clearly not smart

      ^lol at all of it, online chive debate. these moments matter.

      • asdf

        I agree. this is what happens when the creators of what is probably the greatest site of all time introduce politics to the mix. lmfao. Personally I think they do it on purpose just to get our blood moving a little bit. Luckily they don't do it often, so it's all good in my book.

        • dirtysteve99

          You should avoid IAB then, apparently their idea of relieving boredom is the occasional wtf picture, in between bitter political/social arguments.

  • Blah Blah Blah

    Life woudn't be any fun if I only bought things that I needed.

    • Travis

      He's saying buy what you need to be happy, not to show off.

  • onethirdjewman

    I see the argument for having the richest Americans pay the highest taxes because they can afford to while struggling citizens can't. However, I do think that before Obama singles out one man (Warren Buffet) in the State of the Union Address and paints him as greedy because he "pays a lower tax rate than his secretary," he should keep in mind that some of the wealthiest Americans, Buffet included, give millions (in Buffet's case, billions) of their profits away to charity.

    • non

      He wasn't calling buffet greedy. He was saying that it's ridiculous that buffet, the richest man int he world, gets to pay a lower percentage in taxes than Buffets own secretary. Buffet is one of Obamas biggest supporters.

    • Jonathan

      Buffet pays a lower tax rate because he gives so much to charity. Further, much of his income is passive income that was already taxed once when he earned it and before he invested it. Buffet was very misleading in his comments about his secretary having a lower tax rate.

    • Pat

      It also wasn't Obama saying that, it was Buffet who said it was ridiculous that HE pays a lower percentage of tax than his own secretary.

  • Dick Salad

    There are those of us who will read this post with full comprehension and understanding…. Then there are those of us who have little understanding of the fundamentals of personal financial management . These ones will lash out, criticize, and look for faults.

    • Dukeogohio

      and those rambling on above are the ones that fail to comprehend.

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