Monday, August 15, 2011

Billionaire Warren Buffett Says Mega-Rich Must Pay More Taxes as a Shared Sacrifice

As reported by the Associated Press via the Washington Post, Billionaire Warren Buffett Says Mega-Rich Must Pay More Taxes as a Shared Sacrifice:
"... Washington legislators 'feel compelled to protect us, much as if we were spotted owls or some other endangered species....

People invest to make money, and potential taxes have never scared them off' [Buffett said]."
We agree with that. However, we disagree with Buffett's statement that taxes for the other 99.7% of the taxpayers should remain unchanged.

Income taxes in the United States are not high enough to finance America's world leadership expectations, its present military-industrial complex or to produce a healthy, well educated citizenry. Something has to give. Either America decides to become a 3rd-world country or its citizens will have to pay more taxes.

Billionaire George Soros Says Euro Bonds are the Solution to Europe's Financial Problems: A Spiegel Interview with the Financial Genius

Part I -- You Need This Dirty Word, Euro Bonds -- of an interview with billionaire financial genius George Soros at Spiegel Online by Gregor Peter Schmitz and Thomas Schulz leads to to some essential insights regarding the means of solution to the financial crisis in Europe.

It certainly seems sensible to listen to people like Soros who know how to deal with money. Soros may be a controversial figure because he is a money speculator, but he makes money because he understands money. Hence, if he is suggesting that one solution is better than other alternatives, it certainly pays to hear him out and his reasons for his expert opinion.

We clipped short excerpts from the SPIEGEL Interview with George Soros: 'You Need This Dirty Word, Euro Bonds' - SPIEGEL ONLINE - News - International:
"Soros: ... The future of the euro depends on Germany. This is the point I really want to drive home. Germany is in the driver's seat because it is the largest country in Europe with the best credit rating and a chronic surplus. In a crisis, the creditor always calls the shots....
but....
"Soros: There is simply no alternative...."
and that alternative is....
"Soros: I think there is only one choice. It is not a question of whether Europe needs a common currency. The euro exists, and if it were to break apart, all hell would break loose. Germany has to make it work. To make it work, you have got to allow the members of the euro zone to be able to refinance the bulk of their debt on reasonable terms. So you need this dirty word: "euro bonds"."
Read the entire interview, Part II of which is: " 'You Can Count on China To Back the Euro'".

A new "Page" in the Patent Wars: Motorola Mobility to be Acquired by Google

Google to Acquire Motorola Mobility (for a Few Obvious Reasons), according to Jared Newman, Techland, at Time online.

Google's Larry Page is quoted there as follows:
"Our acquisition of Motorola will increase competition by strengthening Google's patent portfolio, which will enable us to better protect Android from anti-competitive threats from Microsoft, Apple and other companies."
For background, see Motorola Mobility.

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