If the companies pay more in taxes, the theory is they will raise prices. But if I don't have to pay any federal income tax or Social Security or Medicare tax, that would be a sizable raise for me. I could afford higher prices. Plus, companies can only raise prices so much before consumers cut their spending and make do with what they have vs. getting the newest shiny toy. Additionally, I would have more control over my finances. I control what I buy vs. the government taking taxes from me. I'm pretty sure I would come out ahead on this deal.
In reality, with lower taxes, they raise prices, and with higher taxes they also raise prices. They don't care about passing on savings, they are just maximizing profit regardless.
@@polarbearliver Yeah exactly, I’m a full on capitalist but the idea that companies will never pay their share of taxes because they offset 110% to the consumer is criminal. It should be considered tax evasion after a certain point
Corporations should pay more than people because they are gaining riches off the infrastructure that taxes provide in ways that the individual could never do. They cause more wear and tear on infrastructure than an individual could ever do. It is 100% fair that the government rely on them to pay for what they are so richly benefitting from.
Warren Buffett Allegedly Said if Billionaires Paid Fair Share, No One Else Would Have to Pay Taxes Again. America just think about what Warren Buffett just said, No one else here would have to pay taxes, which would be a stronger America, people could live better, young couples could get Married and have at lease 3 kids and the family Situation would be a lot better. pricing of goods could be less and people would be able to buy more driving prices down on every thing, we would have less crime cause their would be more jobs for the criminals we have out here and with that less robberies and car jackings cause Americans would have more monies because our Rich people would be paying their fair share of taxes WOW, and whats sad about that is these same people used our tax paying systems to get rich, over charging Americans on goods and services and they don't give a dam, thats the reason we need regulations and laws all over the place, so If I were President, I would pass a law the made sure all Rich people would pay their fare share of taxes cause it would be good the Nation and its people's. It would make our nation a better and stronger place to live making us the the true envy of the World.
We saw one helluva example recently. When a glitch took 99% of his worth (temporarily) and he was still a billionaire. Because he would still have roughly $2 billion. At that level you are almost litterally untouchable.
That's because of Trumps "tax cuts," funny how before the "tax cuts", I always got a return, but now I don't. They're giving you maybe an extra 30 or 40 dollars a week in your pay, giving you an extra say $1,500-$2,000 in spending money a year, but by changing and taking away most of your deductions you pay it all back when you file, a smoke and mirrors shell game with your money.
Being laid off has absolutely 0 bearing on how much you owe in taxes. taxes are paid based on the amount you have earned. Months of 0 earnings do not magically detract from the taxes you owe, for the months you have worked. No wonder this country is in shambles when the common denominator doesn't understand the system that they partake in.
One more example why this man is so well respected and held in such high regard by economists around the globe. Imaging a world where a President adopted a policy similar to this, as opposed to one which will 'tax' the everyday people through them having to pay higher prices for literary everything, made in the USA or elsewhere.
You pay taxes to subsidize tax cuts for others. Namely businesses. Warren Buffett said “If 800 other (top) companies had done the same thing (pay their share of taxes), no other person in the United States would have had to pay a dime of federal taxes, whether income taxes, no social security taxes, no estate taxes.” But there are always business tax cuts being put forward. Large business tax cuts only benefit shareholders. Small business tax cuts help out owners. As most businesses want to pay you the lowest negotiated wage. Now imagine if you taxed places of worship on top of businesses. Individual taxes would look different. Yes, things would get more expensive. Because businesses need to reach sales/profit goals for their shareholders/owners. Not to mention a lot to what you buy isn’t even made in this country anymore. Paying for tax cuts for large businesses that employ fewer Americans. You’re paying taxes for someone else’s job overseas.
It's very simple, you should lower prices for those more productive and give tax cuts to those not earning as much... but the economy is like, for equality sake everyone gets same tax cuts or price adjustment. Sorry bud that's not gonna solve the problem.
What about a flat tax across the board for everyone from the richest person to the poorest person? Id rather have a flat tax with no refund check and keep major companies in the USA, then try to tax people that work hard and make more.
Romans 13:7-8 (NKJV) [7] Render therefore to all their due: taxes to whom taxes are due, customs to whom customs, fear to whom fear, honor to whom honor. [8] Owe no one anything except to love one another, for he who loves another has fulfilled the law.
No, but he implied it. In previous sentences, he mentioned their companies paying the expected tax rate and that they would gladly pay it, which came out to 5 billion dollars. He then said, "If 800 other companies did the same thing...".
To ALL of the companies and shareholders who think that laying off, terminating, and cheating your workers aka potential customers is a good idea, you're FIRED. Fired from our cupboards, our driveways, or entire ecosystems. Do you really think or expect that CEO, CFO, or whatever title(s) these people you pay these huge bonuses out to are going to patronize your business? No, often they get perks, free products, or discounted goods/services so they save or spend their money elsewhere. You cheated and are screwing a large part of your customer base being your own employees and hard workers. We drive the economy NOT the rich million dollar bonus getting heads you appoint. We invest our hard earned money into the products we make which keep you in business. When we lose YOU LOSE TOO! I've yet to see any business stay in business without customers. How do you expect to sell goods to a public who CANNOT afford them especially in today's economy???? This isn't rocket science. Your businesses are sinking ships due to your corporate greed, poor practices, and foolish choices. This is far from over. Honestly IT HAS ONLY JUST BEGUN! Bring back mom and pop businesses and let's better our OWN communities. The only help we need is to help ourselves. Corporate GREED isn't the American dream. DEMAND BETTER!
If I understood that right, he said Berkshire only paid 5 billion in taxes in a YEAR. Congress spends that in a matter of minutes! He also said that they pay at 21%. As much as they’re making why aren’t they way above a 33% tax bracket?
Yeah at any given year 50+ big name corporations usually don't pay any taxes by utilizing tricky profit sheltering techniques. Which is unfortunately extremely legal. So they can bring in billions in revenue. Pay the board and CEO millions for their best year ever, yet zero dollars owed to the government. Policies have to change, not tax %.
Because Donald Trump cut the corporate tax rate to 21% when he was in office. This is the whole problem and why Kamala Harris is running on raising corporate tax rate and lowering middle class rate. We pay higher rate than Berkshire
Apple paid a tax rate of only 15% last year to the US. Apple uses a strategy to artificially shift large amounts of its domestic profits into tax havens, allowing Apple to avoid paying US taxes on these profits while also paying very little in foreign taxes. Naturally, the shortfall from not paying 21% in taxes means that the rest has to come from you and me as well as additional borrowing, which adds to the national debt.
A lot of companies have their symbolic " headquarters," in other countries with lower effective tax rates. Government should put a stop to that but they won't because of lobbyists, greed, and corruption.
Berkshire gets it money from the consumer. Either paying the taxes directly to the IRS or paying to Berkshire indirectly either way you are paying the tax.😢
Most Americans live better than Europeans. I know that, because I was born and lived half of my life in Europe. If you work hard in the US you can have a wonderful life. If you work hard in Europe, you barely survive but you don't live. Unless you inherited from an Aristrocrat family.
Ok, so he’s not saying if they paid the same amount as Berkshire, but the same percentage. If they all paid 5Bn, it would equate to 4 trillion. But the math works out that it would be close to 2 trillion. About half that. So the number isn’t “if they paid the same dollar amount as Berkshire” it’s the percentage. 2 trillion in taxes would significantly reduce how much we, the people, who vote in politicians that support lower corporate taxes, would pay in our personal taxes.
For reference, the US federal budget was $6.3 trillion in 2022. $1.5 trillion went to the military in that year. If 800 companies paid Berkshire's rate, you'd still be paying income tax.
Why would anyone pay 30% of their income (we regular employees do). No individual or corporation should pay 30% of their income or profit. Government needs to stop foreign aid. Cut these loop hole for large companies and have a fixed percentage of taxes that all business, big or small pay. Big business will pay more but percentage needs to be the same. For individual under a certain amount (which should be raised) no taxes, above a certain amount same percentage.
we all have our own value systems and take on worldview, irreverence as amusing as use throw one time disposables, this is the one of those industries who also revel in it.. doesn't add up in anything except nobody wears clothes which are shown its just for some glamor show and spending monies that's all those "Black tie monies.. I have written spoofs on that also...
Democrats overspent on crass garbage like buying votes by canceling student loans. Mr. Buffet: If you want higher taxes, go ahead, you can pay higher taxes, Berkshire can pay higher taxes too. Mr. Buffet: Just because you can afford it, don't stick everyone else paying for higher taxes.
Just so we are clear. He is stating that if 800 companies profited like his company did. And sent in 5,000,000,000 checks. No taxes? Easy math says that’s a pipe dream. That’s 20,000,000,000,000 trillion with a T dollars. Every dime of profit from every single company(corporation) in the US was only 3.4 trillion last year. How are you going to 10x the economy?
I don’t think he meant every large corporation should pay 5 billion like Berkshire did but rather 20% of profits. In a day and age where more billionaires are created than ever it’s completely unacceptable that average folk are paying more in taxes than ever before.
Crazy how this only have 12k views after 3 weeks
MAGA and Trump don't want this video to get out to the voters. It would devastate his election chances and crimp his bank account.
@@55cooklmao riggggght I’m still voting for trump, FJB
@@SxiiJXii And you're a Russian bot.
That's what I've been saying and I've been sharing like crazy!
@@SxiiJXiiYou're in a cult. Buffett 0 BANKRUPTCIES and 0 felonies. $0 daddy's money!
If the companies pay more in taxes, the theory is they will raise prices. But if I don't have to pay any federal income tax or Social Security or Medicare tax, that would be a sizable raise for me. I could afford higher prices. Plus, companies can only raise prices so much before consumers cut their spending and make do with what they have vs. getting the newest shiny toy. Additionally, I would have more control over my finances. I control what I buy vs. the government taking taxes from me. I'm pretty sure I would come out ahead on this deal.
In reality, with lower taxes, they raise prices, and with higher taxes they also raise prices. They don't care about passing on savings, they are just maximizing profit regardless.
@@polarbearliveryep. Blood from a stone as they say.
@@polarbearliver Yeah exactly, I’m a full on capitalist but the idea that companies will never pay their share of taxes because they offset 110% to the consumer is criminal. It should be considered tax evasion after a certain point
If only, these politicians are NOT letting that one go. They'd take his check & still tax us to death
No your country will go do crap😂😂😂 the companies would just open in a different country
Corporations should pay more than people because they are gaining riches off the infrastructure that taxes provide in ways that the individual could never do. They cause more wear and tear on infrastructure than an individual could ever do. It is 100% fair that the government rely on them to pay for what they are so richly benefitting from.
Warren Buffett Allegedly Said if Billionaires Paid Fair Share, No One Else Would Have to Pay Taxes Again. America just think about what Warren Buffett just said, No one else here would have to pay taxes, which would be a stronger America, people could live better, young couples could get Married and have at lease 3 kids and the family Situation would be a lot better. pricing of goods could be less and people would be able to buy more driving prices down on every thing, we would have less crime cause their would be more jobs for the criminals we have out here and with that less robberies and car jackings cause Americans would have more monies because our Rich people would be paying their fair share of taxes WOW, and whats sad about that is these same people used our tax paying systems to get rich, over charging Americans on goods and services and they don't give a dam, thats the reason we need regulations and laws all over the place, so If I were President, I would pass a law the made sure all Rich people would pay their fare share of taxes cause it would be good the Nation and its people's. It would make our nation a better and stronger place to live making us the the true envy of the World.
We saw one helluva example recently. When a glitch took 99% of his worth (temporarily) and he was still a billionaire. Because he would still have roughly $2 billion. At that level you are almost litterally untouchable.
Have been laid off since last summer and still owed way more than I thought when filing this year. Just shows how unfair things are.
That's because of Trumps "tax cuts," funny how before the "tax cuts", I always got a return, but now I don't. They're giving you maybe an extra 30 or 40 dollars a week in your pay, giving you an extra say $1,500-$2,000 in spending money a year, but by changing and taking away most of your deductions you pay it all back when you file, a smoke and mirrors shell game with your money.
Being laid off has absolutely 0 bearing on how much you owe in taxes.
taxes are paid based on the amount you have earned. Months of 0 earnings do not magically detract from the taxes you owe, for the months you have worked.
No wonder this country is in shambles when the common denominator doesn't understand the system that they partake in.
In my opinion paying one’s fair share of taxes is much more patriotic than flying the flag. One is essential while the other is appropriate.
Well said
One more example why this man is so well respected and held in such high regard by economists around the globe.
Imaging a world where a President adopted a policy similar to this, as opposed to one which will 'tax' the everyday people through them having to pay higher prices for literary everything, made in the USA or elsewhere.
Moral Sentiment.......Adam Smith
You pay taxes to subsidize tax cuts for others. Namely businesses. Warren Buffett said “If 800 other (top) companies had done the same thing (pay their share of taxes), no other person in the United States would have had to pay a dime of federal taxes, whether income taxes, no social security taxes, no estate taxes.”
But there are always business tax cuts being put forward. Large business tax cuts only benefit shareholders. Small business tax cuts help out owners. As most businesses want to pay you the lowest negotiated wage. Now imagine if you taxed places of worship on top of businesses. Individual taxes would look different. Yes, things would get more expensive. Because businesses need to reach sales/profit goals for their shareholders/owners. Not to mention a lot to what you buy isn’t even made in this country anymore. Paying for tax cuts for large businesses that employ fewer Americans. You’re paying taxes for someone else’s job overseas.
It's very simple, you should lower prices for those more productive and give tax cuts to those not earning as much... but the economy is like, for equality sake everyone gets same tax cuts or price adjustment. Sorry bud that's not gonna solve the problem.
@@kubyoindiya3269 production and earning are not the same
I wish he treated his employees as well as he treats the government.
💀delegation
If they paid their fair share, as he says, the country will be better off
Like this message if you miss Charlie 😇
What about a flat tax across the board for everyone from the richest person to the poorest person? Id rather have a flat tax with no refund check and keep major companies in the USA, then try to tax people that work hard and make more.
He gets it .... He understands whats it like to be poor.
As a liberal I really appreciate Buffett. He has the right idea.
He talks about paying taxes ---> does everything not to pay them.
Romans 13:7-8 (NKJV)
[7] Render therefore to all their due: taxes to whom taxes are due, customs to whom customs, fear to whom fear, honor to whom honor.
[8] Owe no one anything except to love one another, for he who loves another has fulfilled the law.
The title of video is incorrect. He never used the words "fair share".
No, but he implied it. In previous sentences, he mentioned their companies paying the expected tax rate and that they would gladly pay it, which came out to 5 billion dollars. He then said, "If 800 other companies did the same thing...".
This is the answer, people.
To ALL of the companies and shareholders who think that laying off, terminating, and cheating your workers aka potential customers is a good idea, you're FIRED. Fired from our cupboards, our driveways, or entire ecosystems. Do you really think or expect that CEO, CFO, or whatever title(s) these people you pay these huge bonuses out to are going to patronize your business? No, often they get perks, free products, or discounted goods/services so they save or spend their money elsewhere. You cheated and are screwing a large part of your customer base being your own employees and hard workers. We drive the economy NOT the rich million dollar bonus getting heads you appoint. We invest our hard earned money into the products we make which keep you in business. When we lose YOU LOSE TOO! I've yet to see any business stay in business without customers. How do you expect to sell goods to a public who CANNOT afford them especially in today's economy???? This isn't rocket science. Your businesses are sinking ships due to your corporate greed, poor practices, and foolish choices. This is far from over. Honestly IT HAS ONLY JUST BEGUN! Bring back mom and pop businesses and let's better our OWN communities. The only help we need is to help ourselves. Corporate GREED isn't the American dream. DEMAND BETTER!
It’s time everyone!!!!!!
If I understood that right, he said Berkshire only paid 5 billion in taxes in a YEAR. Congress spends that in a matter of minutes! He also said that they pay at 21%. As much as they’re making why aren’t they way above a 33% tax bracket?
The corporate tax rate is 21% flat rate.
$5 billion x 800 is 4 trillion. Almost Enough to cover 4.9 trillion government tax revenue.
Yeah at any given year 50+ big name corporations usually don't pay any taxes by utilizing tricky profit sheltering techniques. Which is unfortunately extremely legal. So they can bring in billions in revenue. Pay the board and CEO millions for their best year ever, yet zero dollars owed to the government. Policies have to change, not tax %.
Because Donald Trump cut the corporate tax rate to 21% when he was in office. This is the whole problem and why Kamala Harris is running on raising corporate tax rate and lowering middle class rate. We pay higher rate than Berkshire
Why doesn't he volunteer to start paying for those companies that apparently don't pay anything then since he seems to have an excess of funds?
This is the tax model of Saudi Arabia. There are thousands of multi billion dollar Corporations. Do IT!!!!
Apple paid a tax rate of only 15% last year to the US. Apple uses a strategy to artificially shift large amounts of its domestic profits into tax havens, allowing Apple to avoid paying US taxes on these profits while also paying very little in foreign taxes. Naturally, the shortfall from not paying 21% in taxes means that the rest has to come from you and me as well as additional borrowing, which adds to the national debt.
A lot of companies have their symbolic " headquarters," in other countries with lower effective tax rates. Government should put a stop to that but they won't because of lobbyists, greed, and corruption.
In the EU Apple pays almost no income tax. Tax haven Ireland. In that sense Apple is a greedy parasite.
US has no national debt. If US treasury decides to renege on their bonds; who's gonna tell them to cough up?
The Super Bowl for investors!
What percentage does Warren Buffet pay? I read that it was only 0.1%.
I mean personally, not his company (s).
Why has he never been asked to be the Treasury secretary or anything else???
Fix the the problem 10 percent flat tax no writes off and no more government funding fixed problem solved and the rich finally pay there fair share
Thats an amazing idea! we would just have to find a way to reel in government. If not, they will spend it anyways and ask for more from the citizens.
Berkshire gets it money from the consumer. Either paying the taxes directly to the IRS or paying to Berkshire indirectly either way you are paying the tax.😢
Then Tax Corporations at 25 to 30% on all net profits and eliminate all other Federal Income taxes! Do it!
And that’s why we’re poor and desperate as a country.
(eye roll) The US is not poor or desperate.
Most Americans live better than Europeans. I know that, because I was born and lived half of my life in Europe. If you work hard in the US you can have a wonderful life. If you work hard in Europe, you barely survive but you don't live. Unless you inherited from an Aristrocrat family.
If there were 800 bigger companies than Berkshire in the US, this would make sense. There are 7.
Did you not just hear one of the richest men in the U.S say otherwise?
He didn't say 800 companies bigger than Berkshire. He said, "If 800 other companies did the same thing...".
Ok, so he’s not saying if they paid the same amount as Berkshire, but the same percentage. If they all paid 5Bn, it would equate to 4 trillion. But the math works out that it would be close to 2 trillion. About half that. So the number isn’t “if they paid the same dollar amount as Berkshire” it’s the percentage. 2 trillion in taxes would significantly reduce how much we, the people, who vote in politicians that support lower corporate taxes, would pay in our personal taxes.
For reference, the US federal budget was $6.3 trillion in 2022. $1.5 trillion went to the military in that year. If 800 companies paid Berkshire's rate, you'd still be paying income tax.
Love you Warren!
It’s always been this easy, but hold on, we need more tax cuts for the rich. 😂
I hate this devil's system.
Corporate RESPONSIBILITY!!! ENOUGH!
Did he just do a terrible job at plagiarizing Warren Buffet?
Warren Buffet video - ua-cam.com/video/VJzTsTU1xL8/v-deo.htmlsi=FhtOUfw-op0LxK1T
Jeff Bezos disagrees
Why would anyone pay 30% of their income (we regular employees do). No individual or corporation should pay 30% of their income or profit. Government needs to stop foreign aid. Cut these loop hole for large companies and have a fixed percentage of taxes that all business, big or small pay. Big business will pay more but percentage needs to be the same. For individual under a certain amount (which should be raised) no taxes, above a certain amount same percentage.
Almost all of the federal budget is social security, medicare, and other welfare spending. Foreign aid is a miniscule amount compared to old people.
@@willmichael4033 And military
because a billionaire would never lie. what exactly is considered "fair share" ?
why do you think he's lying if you don't even know what he means by "fair share"?
@@mstar7520 lol i love seeing going quiet when they can't explain what they mean.
21 percent of profit is more than a fair share. Imagine every time you get payed someone comes along and demands 21%, how would you like it?
what do you mean he is lying, he literally said the middle class would never have to pay federal taxes.
@@marsbanditnyc9043 A corporate tax rate of 21% is less than my tax rate.
we all have our own value systems and take on worldview, irreverence as amusing as use throw one time disposables, this is the one of those industries who also revel in it.. doesn't add up in anything except nobody wears clothes which are shown its just for some glamor show and spending monies that's all those "Black tie monies.. I have written spoofs on that also...
Problem with this is, when the government makes more money, it usually spends more money too
Democrats overspent on crass garbage like buying votes by canceling student loans. Mr. Buffet: If you want higher taxes, go ahead, you can pay higher taxes, Berkshire can pay higher taxes too. Mr. Buffet: Just because you can afford it, don't stick everyone else paying for higher taxes.
Just so we are clear. He is stating that if 800 companies profited like his company did. And sent in 5,000,000,000 checks. No taxes? Easy math says that’s a pipe dream. That’s 20,000,000,000,000 trillion with a T dollars. Every dime of profit from every single company(corporation) in the US was only 3.4 trillion last year. How are you going to 10x the economy?
I don’t think he meant every large corporation should pay 5 billion like Berkshire did but rather 20% of profits. In a day and age where more billionaires are created than ever it’s completely unacceptable that average folk are paying more in taxes than ever before.
I'm researching this, could you please share with me where you got the figure for the total profit of every company(corporation) in the US?
@@Quickshadow10 the bureau of economic analysis. A gov website that tracks such things.
I thought Buffet was smater than this.
Well, he's infinitely smarter than you, that's for sure. The word is s-m-a-r-t by the way.
Higher taxes for the middle class but he has loop holes. He is so đishonest.
aa😮😮😮