I’m sick of Warren Buffett – Tea Party Nation

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I’m sick of Warren Buffett – Tea Party Nation.

Posted by Judson Phillips on August 15, 2011 at 11:49am in Tea Party Nation Forum

Warren Buffet is a wealthy man.  He has made an incredible amount of money from our free market system.   But when it comes to politics, he is about as far to the left as Obama.  He is now whining that the rich should be taxed more.

 From Warren Buffett in the New York Times:

 OUR leaders have asked for “shared sacrifice.” But when they did the asking, they spared me. I checked with my mega-rich friends to learn what pain they were expecting. They, too, were left untouched.

While the poor and middle class fight for us in Afghanistan, and while most Americans struggle to make ends meet, we mega-rich continue to get our extraordinary tax breaks. Some of us are investment managers who earn billions from our daily labors but are allowed to classify our income as “carried interest,” thereby getting a bargain 15 percent tax rate. Others own stock index futures for 10 minutes and have 60 percent of their gain taxed at 15 percent, as if they’d been long-term investors.

These and other blessings are showered upon us by legislators in Washington who feel compelled to protect us, much as if we were spotted owls or some other endangered species. It’s nice to have friends in high places.

Last year my federal tax bill — the income tax I paid, as well as payroll taxes paid by me and on my behalf — was $6,938,744. That sounds like a lot of money. But what I paid was only 17.4 percent of my taxable income — and that’s actually a lower percentage than was paid by any of the other 20 people in our office. Their tax burdens ranged from 33 percent to 41 percent and averaged 36 percent.

 The full story is here: http://www.nytimes.com/2011/08/15/opinion/stop-coddling-the-super-r…

 I am sick of his whining bovine scatology.  The reason Buffett paid less is he has an army of accountants and tax lawyers who go out and found deductions for him. 

 He is a hypocrite.  If he wants the rich to pay more, he could start by not taking any deductions from his income taxes.  Oh wait, you mean he doesn’t want to do that?

 How about stroking the government a check for $10 billion?  Buffett was an Obama supporter.  I’m sure he can call the White House and get Obama on the phone.   I’m sure for that, Obama would even give you a Rose Garden ceremony.

 What Warren Buffett does not tell you is the deep dark secret of the liberal billionaires.  Buffett talks about how much he paid.  Based on that, his taxable income was probably around $42 million.  That’s a lot, right?  According to Forbes Magazine, Warren Buffett’s net worth is approximately $62 Billion!

 The income tax taxes income, not wealth.  The people it hits the hardest, other than the middle class, are those who are in the process of creating wealth.  Buffett does not care.  He can pay more taxes.  He has created his wealth and there are many ways he can avoid paying taxes on that wealth.

 The dirty secret is for the billionaires; they are members of the club.  They like being the members of the club but do not want anyone else to be members of the club.  A sharply progressive income tax prevents others from joining that club.  If we had the income tax system Buffett prefers when he was a young man, just starting Berkshire Hathaway, he would not be one of the richest men in the world today.

 Warren, if you want to give all of your money to the government that is fine with me.  They even have a process where you can give gifts to the Treasury. Do not tell me taxes need to go up.  Government spending needs to go down.  It needs to go way down.  The government needs to let people keep more of their hard earned money. 

 That even includes liberal dolts like you.

One Response to I’m sick of Warren Buffett – Tea Party Nation

  1. al says:

    Cut military spending and you’ll be able to cut your costs 🙂 Otherwise watch your taxes go up, or your interest rates… either way, the day of reckoning is near and everyone will pay more either through taxes, or inflation…

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