Are the neo-cons on here smarter than Warren Buffett?

[MARIS61]

If you give Buffet's accomplishments context th en it would be hard to argue that he's not a genius in his field. Are any of us considered genius level? I don't mean good and I don't mean smart.

You don't amass that type of fortune on your own without a superior intellect, which I have no shame saying is greater than my own. Or as it were, I might be typing this on platinum-plated keys while lovely models play the trumpet as part of my "ode to joy".

Buffett, like nearly every American billionaire, made a large part of his fortune through insider trading, and from taking advantage of struggling businesses and putting people out of work and out of their homes.

It's not what you know, it's who you know.

Few billionaires are geniuses, but they're relentlessly driven people who are so focused on the prize that they will literally stop at nothing to attain it. Like a tick.

 

[Pontius]

One thing I'm more concerned with than anything is wealth accumulation due to write-offs and loopholes as means around paying taxes. It's my intimation that this has more to do with the widening gap between the rich and the poor than anything else. And I have nothing to offer here but supposition and theory so keep that in mind.

Someone filling out a W-2 making $40,000 a year does not have the ability to accumulate untaxable wealth the way someone making the arbitrary $250,000+++ a year does. After disposable spending there is little left for "joe six-pack" and his relatively fixed income to invest in wealth accumulation. Whereas the more money one makes, the generation of wealth becomes exponentially easier and greater due to the tax codes that favor those with the greater incomes.

Wealth can grow without taxation in this country if it is accounted for the right way. That is special ability most people who pay taxes are not afforded.

 

[MARIS61]

Do you have a link for those figures?

CNN Monday night and I wrote them down. Trying to remember the show, they had opposing pundits discussing what it meant?

Seriously, I haven't met very many people who aren't worth $50k OR MORE a year.

Time they got paid for it.

If it means some fortunate soul takes home $750k rather than the $800k he's become accustomed too, oh well.

 

[Pontius]

they're relentlessly driven people who are so focused on the prize that they will literally stop at nothing to attain it. Like a tick.

That sounds like an apt description for any type of genius who went on to greater accomplishments.

I still hold that Warren Buffet is a money making genius, and not just some bright individual who happened to stumble his way into 62 billion dollars.

 

[BrianFromWA]

Half of American workers make less than the $30k Barfo used in his example.

33% of all American workers make less than $15k per year.

40% make between $15k and $49k.

22% make between $50 and $224k.

5% make between $250k on up to obscenely ridiculous sums.

So much for the American Dream.

???? Wow. If that's true, then the world is a different place than I thought. Join the military, you make much more than 15k per year!

Wait a second...assuming a 2080 hr work year, you're saying 33% of Americans make less than 7.50 per hour? Or that they get to work less than 40 hours a week at minimum wage?