Sorry that I cannot go into every detail, there are a lot of people debating me, so I'm sorry that I cannot give the attention you deserve.
Buffet is a tool, what gives him the right to choose for others how they should make their money? It's their decision not his If people want to make money using the stock market, so be it. If others, the lionshare, are willing to do it via hard work, then that's ok too. But there always a risk vs reward. Stock markets are high risk, high reward. Labor is low risk, so low rewards.
If you consider a hedge funds, you have a valid point. They manipulate the system, so it effects a third party that does not have a say in the matter. Then it's time for the government to step in. Have they?
Back to Buffet. Why doesnt he lead the millionaire lifestyle? Why doesnt he spend those hard earned dollars? Then he is nothing more then a monetairy sinkhole cbea described!
Why does he give it away for free? Why not buy a boat? Employing dock workers, project managers, designers, carpenters, etc. etc.
If you give something away for nothing, people will value what you gave away at nothing. If you make people earn it, then it has value.
In the feudal system, the peasants were powerless and there was no 'business' done. The lords owned all the land and if the peasants didn't do what they were ordered to do, they would be thrown off the land or just killed.
That's not a free market. That is total anarchy.
Taxing the rich helps prevent one extreme, limiting (but not eliminating) social benefits prevents the other extreme. What has happened is that the reduced taxing of the rich since the 1970s (through reduced taxes and through the refusal to close tax avoidance loopholes) has pushed the system too far towards one extreme and so it needs to be nudged back towards the middle.
No, taxing only the rich, helps to create a system of inequality. You are discriminated against based upon your income. The same income tax rate across the board for investments and wage is the most equal.
Or do you think pretty bums like Beyonce's should be equalled out aswell?
First increasing tax on the rich and then relieving them in the 1970's, is not lowering the taxes on the rich. You are cherry picking.
Let me ask you this then;
Since the efforts of taxing the rich have increased, have the poorer not become poorer and the richer not richer?
Can't you see the solution you are proposing is what is creating the problem in the first place?