Eating Apes

Sat, 24 May 2003 17:44:14 GMT

The killing of a chimpanzee--a species that can make tools and is capable of laughter--is that an act of murder? This book explores the "bush meat" trade, that follows the newly accessible lands opened by expanded forestry activity in Africa.

Warren Buffet on why his tax rate shouldn't be 10% of that of his receptionist.

Fri, 23 May 2003 12:18:18 GMT

"The taxes I pay to the federal government, including the payroll tax that is paid for me by my employer, Berkshire Hathaway, are roughly the same proportion of my income -- about 30 percent -- as that paid by the receptionist in our office. My case is not atypical -- my earnings, like those of many rich people, are a mix of capital gains and ordinary income -- nor is it affected by tax shelters (I've never used any). "As it works out, I pay a somewhat higher rate for my combination of salary, investment and capital gain income than our receptionist does. But she pays a far higher portion of her income in payroll taxes than I do. She's not complaining: Both of us know we were lucky to be born in America. But I was luckier in that I came wired at birth with a talent for capital allocation -- a valuable ability to have had in this country during the past half century. Credit America for most of this value, not me. If the receptionist and I had both been born in, say, Bangladesh, the story would have been far different. There, the market value of our respective talents would not have varied greatly. "Now the Senate says that dividends should be tax-free to recipients. Suppose this measure goes through and the directors of Berkshire Hathaway (which does not now pay a dividend) therefore decide to pay $1 billion in dividends next year. Owning 31 percent of Berkshire, I would receive $310 million in additional income, owe not another dime in federal tax, and see my tax rate plunge to 3 percent. "And our receptionist? She'd still be paying about 30 percent, which means she would be contributing about 10 times the proportion of her income that I would to such government pursuits as fighting terrorism, waging wars and supporting the elderly. Let me repeat the point: Her overall federal tax rate would be 10 times what my rate would be."

Getting Rich One Way

Fri, 16 May 2003 09:20:41 GMT

"So you get rich with a dozen different types of tax-funded help, you become a Republican, and you live happily ever after complaining about how much you pay in taxes. Maybe President Bush was right after all, that is the American dream." from Slate Magazine.

Relaxing during the work week

Tue, 10 Sep 2002 04:58:49 GMT

Has anyone noticed that it's stressful to relax? When you're in action, working every day, there's always tomorrow to accomplish what you didn't accomplish today. When the weekend comes, suddenly stress is produced by not being able to act. Solution? Get a hobby!

Joseph Steig: Work, Life

Eating Apes

Warren Buffet on why his tax rate shouldn't be 10% of that of his receptionist.

Getting Rich One Way

Relaxing during the work week