Archive for August 16th, 2011

Memo to Buffett: Here’s the way I’d like to see your coddling get stopped …

August 16, 2011

Warren Buffett is back at it … whining that his taxes are too low.

In a NY Times op-ed he says:

For those making more than $1 million — there were 236,883 such households in 2009 — I would raise rates immediately on taxable income in excess of $1 million, including, of course, dividends and capital gains.

And for those who make $10 million or more — there were 8,274 in 2009 — I would suggest an additional increase in rate.

My friends and I have been coddled long enough by a billionaire-friendly Congress. It’s time for our government to get serious about shared sacrifice.

Since Warren won’t just pony up extra dough to the Treasury (why not?), I suggest that:

  1. All personal wealth  (not income !) over $1 billion should be confiscated immediately.
  2. Tax-dodging charitable deductions from estates greater than, say, $5 million, should be eliminated.

No, I’m not serious about the first idea … though, it would be nice to clarify the distinction between income & wealth … and, it would be fun to see the fattest of the fat cats squirm.

I am serious about eliminating the estate deduction for charitable gifts.

That would get Warren whining another tune.

You see, he’s reported to be bequeathing most of his estate to his buddy & fellow fat-cat Bill Gates’ foundation. 

Let’s see, he ducks a lot of estate taxes, just by channeling money to his mega-rich buddy.

Sounds like a loophole to me.

Mr. Buffett: why not pay your fair share and then ship after-tax dollars to your friend, Bill.

Let’s really end the coddling …

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Five Guys winning formula: “Shut up, sit down, and eat.”

August 16, 2011

Business Week went “Behind Five Guys’ Beloved Burgers” … here’s some of what they found:

Five Guys’ that sells 2 million burgers a week and was named Zagat’s “best fast food burger” for 2010.

By the end of this year, Five Guys expects to have almost 1,000 stores open around the country, over $1 billion in sales and around 25,000 employees working in Five Guys stores.

Five Guys serves up made-to-order burgers with beef that’s never frozen and absurdly large servings of hand-cut fries.

  • Five Guys’ regular cheeseburger, comes with two patties and 840 gluttonous calories
  • Five Guys’ uses a special roll that’s sweeter and eggier than a typical bun.
  • French fries must be shaken fifteen times, no more, no less.
  • Onion and bacon go below hamburger patties, pickles and tomatoes go above.
  • They don’t serve milk because kids don’t actually like milk, and kids like Five Guys because it’s a treat.

The fresh, generous meals allow them to charge more than fast food chains such as McDonald’s and Burger King.

Five Guys stores seem to say, in the most loving way possible, “Shut up, sit down, and eat.”

A quirky aspect of their management style: frequent yelling during meetings. “It’s weird how it works … but You end up at the answer.”

* * * * *
Ken’s Take: Nothing like a stop at Five Guys before a Hoyas’ basketball game.  I knew I loved the place, now I know why  …

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