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Tax and Spend!


Das empfiehlt Investorenlegende Warren Buffett, als habe er sich mit Frank Schirrmacher abgestimmt.

OUR leaders have asked for “shared sacrifice.” But when they did the asking, they spared me. (…) Back in the 1980s and 1990s, tax rates for the rich were far higher, and my percentage rate was in the middle of the pack. According to a theory I sometimes hear, I should have thrown a fit and refused to invest because of the elevated tax rates on capital gains and dividends.

I didn’t refuse, nor did others. I have worked with investors for 60 years and I have yet to see anyone — not even when capital gains rates were 39.9 percent in 1976-77 — shy away from a sensible investment because of the tax rate on the potential gain. People invest to make money, and potential taxes have never scared them off. And to those who argue that higher rates hurt job creation, I would note that a net of nearly 40 million jobs were added between 1980 and 2000. You know what’s happened since then: lower tax rates and far lower job creation.

Nur um das klarzustellen: Ich bin der Meinung, dass der Kapitalismus das am wenigsten Schlechte System ist. Aber er wird politisch nur überleben, wenn er Teilhabe erlaubt, und ökonomisch, wenn er ausreichend Kaufkraft generiert. Und das bedeutet neben vielen anderen Dingen eben auch: Den Reichen nehmen und den Armen geben. Anders geht es nicht. Punkt.

Oder, um es mit dem Altmeister JMK zu sagen:

If capitalist society rejects a more equal distribution of incomes  [… ], then a chronic tendency towards the underemployment of resources must in the end sap and destroy that form of society.