Kudos to Buffett for having the balls to say this:
http://www.nytimes.com/2011/08/15/opinion/stop-coddling-the-super-rich.html?_r=1&src=rechp

Thank you for providing the link. Berkshire Hathaway Chairman Buffett has become one of the wealthiest people on Earth. Along with billionaires like Microsoft's Bill Gates, Buffett has sounded what some would characterize as the disingenuous call for the wealthy to participate in a “shared sacrifice” and pay increased taxes to help close the U.S. budget shortage. Buffett says individuals of his income group can do it, but critics of taxing the prosperous do not think doing so will be good for the economy. Check this out: When Warren Buffett says tax me, do people listen? (http://personalmoneynetwork.com/moneyblog/2011/08/15/warren-buffett-carried-interest/). Just click the link for the details. This has been the most talked about debatable issue lately which has something to do with mounting the national debt, and a popular sentiment on how to fix it is to begin taxing the rich at a higher rate. A majority of Americans support that idea, according to various polls. Politico.com says most polls reveal that 50 to 70 percent of respondents usually are in favor of raising taxes on the wealthy. However, the wealthy make up a tiny part of the American populace. Therefore, levying greater taxes on the wealthy may not solve the nation’s problems.

Thank you for providing the link. Berkshire Hathaway Chairman Buffett has become one of the wealthiest people on Earth. Along with billionaires like Microsoft's Bill Gates, Buffett has sounded what some would characterize as the disingenuous call for the wealthy to participate in a “shared sacrifice” and pay increased taxes to help close the U.S. budget shortage. Buffett says individuals of his income group can do it, but critics of taxing the prosperous do not think doing so will be good for the economy. Check this out: When Warren Buffett says tax me, do people listen? (http://personalmoneynetwork.com/moneyblog/2011/08/15/warren-buffett-carried-interest/). Just click the link for the details. This has been the most talked about debatable issue lately which has something to do with mounting the national debt, and a popular sentiment on how to fix it is to begin taxing the rich at a higher rate. A majority of Americans support that idea, according to various polls. Politico.com says most polls reveal that 50 to 70 percent of respondents usually are in favor of raising taxes on the wealthy. However, the wealthy make up a tiny part of the American populace. Therefore, levying greater taxes on the wealthy may not solve the nation’s problems.

Amanda, thank you as well for the additional link. While Buffett's gesture seems noble, you make a good point that most people (myself included) have forgotten the wealthy only make up a very small percentage of the nation's population. That being the case, you are probably correct in that levying additional taxes on the wealthy would have an insignificant impact on solving the national debt. Personally I always felt that simply levying additional taxes was not an ethical solution to the debt problem because doing so ignores the root of the problem - excessive and uncontrolled spending on the part of the government. Additional taxation, in my opinion, is counter-production in stimulating economic growth because it inhibits capital investment ( and thus job growth) by small businesses which, as you know, make up the bulk of the American economy.

Although Buffet is only part of the problem in the United States goverment:

1) Set term limits. You know the Federal level will not do this. I have been writing the State House where I live to take back those seats and set limits of office belonging to the states in their respective constitution.

2) Full disclosure- Obama and his school records along with the delay in his proof of citizenship was complete BS. You want the office, open up the books!

3) Lobbyist- Proof that the Mafia mentality is alive and well and enabled by the "Politician for Life" representatives and Senators. Remove them and the population in DC will decrease by 1/3.

4) Abolish the Federal Reserve System- The gold standard is where our economy should rest. We have over spent being the Police Department for the World. No More!

5) Drill baby Drill! One way to insure our security is to harvest our own resources. Quit allowing China, Russia, Canada from cross drilling our fields. Although I support my Canadian neighbors and prefer giving them the cash, this is happening, and since the US just sits on its hands by not drilling, we lose precious resources by the millions of gallons...

6) Stop all aid to the UN and countries who hate us. Yes, the United States could save billion alone by letting the other developed nations carry their own water. (Why does the US give aid to China?? They have more cash than we do???)

7) Stop speculation in the oil commodities market. These bull shit futures options that were over sold...now the price of a gallon of gas has to be around $3 to cover the house. All of it paid for by you and me....

8) Think when you vote! Quit letting your dick or your craving for pot be the deciding factor. If you think welfare is a source of income for life....get a fucking job!!! I will hire your ass to reduce your dead ass weight on our country! Who is going to right the ship to where the US can reduce the debt to a zero balance and work on a surplus? Both parties like to spend....vote the incumbent out! These are the fuckers who have promised this or that for the last 5- 10- 20- year plus! They are the problem, not the solution. Look at Greece....the US is next if things are not changed!

Yeah, I have had some inspiration tonight in my glass. Its one of the things I do....How about we all vote as Americans for a change instead of Republican/Democrat?? I raise my glass to you! This Community Organizer in Chief has the country divided, just the way he planned...

To the troops that take care of me and my family knowingly and unknowingly at times, Thank You! You are the reason our country is great, strong and often feared....Keep up the good work.


So you see...Warren Buffet is a small pecker gnat in the scheme of things.
:D
Take Care

MB

You forgot item:
9) No company is too big to fail. If they can't handle their banking or financial obligations (due to greed or stupidity), then close their operation and move their assets to a company that can manage them responsibly. If we own the assets, we choose where to put them.
9a) A crook is a crook. Put the people responsible for the financial misdeeds in jail. Not give them a mega-bonus.