Buffeted by age?

Warren Buffet has kicked up a storm by commenting that the super rich in the US need to be taxed more and as a means of example he said that he paid 17% of his income as taxes whereas the people he employed paid in excess of 30%.

One needs to understand that taxes are a means of incentivising business. Thats why Capital Gains taxes are lower than other forms of taxes. Also incentives for exports are given in countries with net forex outflows (like India).

The issues that need to be discussed is the abuse of these lower taxes (or nil taxes) and how corporations have set up tax free contracts. Just plugging these loopholes and reigning in Government expenditure would be more than enough.

Of course taxing the rich at higher slabs will not hurt BUT do you want to be branded a socialist in capitalist america?

Too smart by half!!

Karunanidhi thought he had a winner when he gave away free TV's as it created a monopoly for SUN TV's cable and Directv business. What he forgot was that power consumption doubled as people started watching more TV (add the lights and fan in some cases AC too!!) and by the time the next election came there was huge power shortfalls across the state!!

Added to this the free food and money being given away resulted in people becoming too lazy to vote for him when the time came around!!

So it would do good for the future politicians to note that freebies dont work.