Buffett fundraiser for Obama

[rranjan]

 

As do I, our system no longer works.....

 

Myth--on this, we can totally agree. If I was your age, I would be fleeing the country as well....

 

Speaking of....did you see that in NZ, they do a physical on you, blood work, BMI, etc. , and if you don't make the cut, you can't immigrate and become a citizen. That's brilliant! If the government is going to provide your health care, you only get to come in if you are healthy. How much would that save our government if we implemented that here in the USA before you got Medicare/Medicaid.

 

Situation is not good right now but I don't agree with the notion that it's bad enough to consider fleeing or whatever you want to call. USA has so much of inbuilt advantage due to system in place that it will overcome the problems. By system I don't mean this bickering of two parties. I meant over all USA still attracts best minds from outside due to obvious reasons and it allows people to do many things if they are upto it.

 

I went to one of the best schools in India for undergrad and I never heard anyone planning to migrate or go for higher studies to Australia or UK or any other country. May be it was just due to tradition but thats what I saw. Many students go to other contries but most of them are not from the best schools in India. Just my observations and I might be wrong in deducing anything based on that.

 

I think USA has lots of advantage which will make it good place for long time. I might be off target here but I feel that people who grew up here don't really see some of the advantages.

 

 

 

 

[rmitz]

I wasn't even talking about Obama.  I actually agree that Obama has not been a strong leader, but honestly the Republicans are not interested in ANY sort of compromise.  It's their way or the highway.

 

I'm not that bright when it comes to politics.  I keep seeing this notion that "the Republicans are not interested in ANY sort of compromise." 

 

In what sort of compromise are they not interested? 

 

What proposed compromise have they turned down? 

 

Wasn't the debt ceiling raised by many trillions of dollars?

 

I want to try to understand what people mean when they say this.

 

I honestly don't like discussing politics, but the specific point I was referring to is the absolute refusal to consider potential future tax increases as part of a package -- this is irresponsible governing.  Of course, it's also in line with their goals, so it makes perfect sense.

[Cardboard]

Isn't during the Bush years that stock options became expensed through financial statements?

 

So basically, Buffett is able to influence the government weather it is Democrat or Republican led. How did he do it? By providing sound rationale and complaining for years in his annual letters about it. That is what he does best: using his head, using logic. And for that, you need to be totally free. You can't be in bed with either party.

 

That is what I liked about the guy before. Other than by seeing his picture on some books, I had never seen him on TV. He was like a mythic figure. Whenever an investment showed up on the 13 HR, I had to figure out why he had bought it. I had to reverse engineer his logic. That made me a better investor. Nowadays when he does a big move, he is right there on Squawk Box or on an airplane with Becky explaining at large why he is doing such. My homework is much easier, but I also learn a lot less.

 

That is why I said that I preferred the Warren away from the media and politics. And I still think that if he had given just $1 billion to the U.S. government instead of all to the Gates foundation, that he would have been remembered as the guy who gave a billion $ to the U.S. government in voluntary tax instead of just Warren Buffett the multi-billionaire. An op-ed in the NY Times after that would have been much more powerful.

 

Regarding Obama, I am simply disappointed with his performance. The government was not disfunctional during his first 2 years. It was all in the hands of Democrats! They screwed up royally in terms of job creation. I know that he could not have fixed housing or a big contributor, but making the U.S. a leader in clean energy was right there. He did not have to talk about cap and trade which killed the project because of politics. The idea was to talk about energy savings, new energy technology and people would have followed through. Natural gas also seemed like the enemy of the administration while it could have provided a big relief to oil imports and with it a big help to the deficit. Then what was done in terms of infrastructure? I see not much difference from before. The U.S. is certainly not the big construction site that he could have been.

 

And for all of that, I am not talking about fully funded government spending but, mostly encouragement. A leader should point in the right direction, provide vision, not do the work or give all the money.

 

Cardboard

[Myth465]

 

As do I, our system no longer works.....

 

Myth--on this, we can totally agree. If I was your age, I would be fleeing the country as well....

 

Speaking of....did you see that in NZ, they do a physical on you, blood work, BMI, etc. , and if you don't make the cut, you can't immigrate and become a citizen. That's brilliant! If the government is going to provide your health care, you only get to come in if you are healthy. How much would that save our government if we implemented that here in the USA before you got Medicare/Medicaid.

 

Situation is not good right now but I don't agree with the notion that it's bad enough to consider fleeing or whatever you want to call. USA has so much of inbuilt advantage due to system in place that it will overcome the problems. By system I don't mean this bickering of two parties. I meant over all USA still attracts best minds from outside due to obvious reasons and it allows people to do many things if they are upto it.

 

I went to one of the best schools in India for undergrad and I never heard anyone planning to migrate or go for higher studies to Australia or UK or any other country. May be it was just due to tradition but thats what I saw. Many students go to other contries but most of them are not from the best schools in India. Just my observations and I might be wrong in deducing anything based on that.

 

I think USA has lots of advantage which will make it good place for long time. I might be off target here but I feel that people who grew up here don't really see some of the advantages.

 

I think you have a point, our immigration in general should be a bit more targeted based on skills but there are downsides. I read somewhere that Australia has a permanent upper class that wont assimilate or learn the customs, and the US has an underclass. Then the person said which one is smarter and .....

 

For all our faults I love the USA and am leaving really because I am young and have always wanted to live abroad. We will overcome this, but it will take a while in my opinion. I wouldnt choose to be born anywhere else but its a big world and I want to see and experience a bit more of it before I am old and grey.

 

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If a person cant see that the Republicans are uncompromising then there is not much a post by me will do to change that. I mean we are discussing another government shutdown on the 31st of the month, less than 2 months after a sovereign downgrade......

 

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Also again I agree with Cardboard, Clinton had an interview on Yahoo Finance Daily Ticker where he talked about Green energy. He was like it would put millions to work, and pay for itself. He really sold it and showed leadership that was hard to argue with. He also talked the 30 year attack on Government by the right and showed how no other country has that attitude. I think $1 billion or $500 million to the treasury from Buffett would have furthered his point but I guess its his money ....

[ERICOPOLY]

I agree, ambitious people head to the USA.  My father did.

 

I think there is more sense of cooperation, civility, and community in Australia.  But then perhaps I am biased.  I think the USA is more dog eat dog and every man for himself.  Free market and fu** the people at the bottom (which is becoming increasingly crowded).

 

Here is a little bit of info about how Australian workers are compensated:

 

http://www.expatfocus.com/expatriate-australia-salaries

 

Australia has a minimum wage structure which offers different pay scales to different types of work. These are known as ‘awards’ and a person cannot be paid less than the minimum wage which has been set for that type of work. These awards are reviewed each year by the organisation known as ‘Fair Work Australia’ on an annual basis and new rates will come into effect after 1st July every year. As part of the review the modern awards are assessed and the national minimum wage which is for all workers not covered by one of the modern awards. Reviews will take into consideration such factors as inflation and price rises of essential goods.

 

And a few examples of what people can earn:

Construction workers:  $67,500

Teachers:                    $70,000

Technical and scientific:  $80,000

 

Now, before you think they are communists, they have no property tax on principle residence, no gift tax, no inheritance tax, and don't tax your dividends if they are from Australian companies that have already paid the corporate earnings tax. 

 

So you can actually retire and not worry about being able to afford your property taxes and lose your home.  Here in America we just give old people the boot when they can't pay their taxes after land values skyrocket -- really nice society we have here.  Those are our parents we do that to!  They worked, they paid their income taxes, they paid their mortgage off.  Then we're like... deadbeats, hit the road!

 

So I'm biased.  I just think they are more civil to one another as a society.  And I think that makes them more pleasant people.  I notice it when I'm there.  Maybe it's all in my head.

[sswan11]

Having lived in a number of different countries, I completely agree with more pleasant, community-based lifestyles (elsewhere).

 

One thing the US (still) has going for it is great universities and university-based research.  But that may well change if funding declines.  That's basically what happened to the UK research universities relative to the US. 

[Guru]

 

Myth - Thanks for sharing the link

 

No prob let me know what you think when you get a chance to read it.

 

Myth - I had read it when I posted and I liked his analysis and agreed with most of it. Plus he has the credibility that comes from being an insider for so long. I mean he is not a liberal bashing the right but one who has served the republican party for 28 years but just got fed up with the current political set up.

Thanks again

[Myth465]

 

Myth - Thanks for sharing the link

 

No prob let me know what you think when you get a chance to read it.

 

Myth - I had read it when I posted and I liked his analysis and agreed with most of it. Plus he has the credibility that comes from being an insider for so long. I mean he is not a liberal bashing the right but one who has served the republican party for 28 years but just got fed up with the current political set up.

Thanks again

 

No prob. I found it quite interesting. I really liked when he said I might as well retire now, since we dont know where that is going...

 

With all that said  I like what the right is doing. They are offering a choice to the public, and being honest about it (brutally honest lol). America needs a come to Jesus moment, we have to decide what type of society we want, and I am excited about that debate and the next election. Canada, Australia, and the UK seem to have principles that both parties can agree on, but we have 2 completely different American visions which need to be sorted. I dont think America likes what the right is selling, and ultimately I dont see it being very successful, if it is then a nation deserves the government it gets and we will all be better off knowing where the citizens who care enough to vote want the country to go.