Good advice

Warren Edward Buffett

This morning Emma Marcegaglia, President of Confindustria, which is the main association of manufacturing and service companies in Italy, said they favor a property tax of 1.5‰ on all movable and immovable assets of individuals with the exemption for estates of less than 1.5 million euro, provided that government also reduce taxes for workers and businesses to encourage growth of the country.

Emma Marcegaglia

In November 2007, Warren Edward Buffett, currently the third richest man in the world, said that while he was paying only 19% of its income in total federal taxes, his employees had to pay as much as 33% of their salary to the Treasury. A year later stated that governments should not deal with gambling, legalized casinos and lotteries, because they are in fact tax on ignorance.

It is impressive to see how two members of the capitalist economy show to have more common sense and a spirit of collaboration of many politicians and rulers. It makes us realize how little the world of politics is doing to overcome this crisis and that in fact is doing nothing to prevent the recurrence of new ones. Of course I do not expect that all solutions are proposed by those who have in any case some responsibilities in the crisis, but if governments would acknowledged these warnings meanwhile, would not be a bad thing.

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