Free Markets, Free People


Speak for yourself, Mr. Buffet

People who do what Warren Buffet is doing irritate the holy hell out of me.  They decide a) taxes are fine, b) they’re fine with paying more taxes and c) if they find them fine and feel they should be paying more taxes everyone in their financial situation should too.

Uh, no sir.

First, taxes are supposed to fund Constitutional government – i.e. the government allowed under the Constitution.  Taxation has evolved into a political means of controlling behavior and funding things the founders never even dreamed would be something which government would fund.

Secondly, taxes were supposed to be something everyone paid.  You shared the pain and you had skin in the game – a reason to follow government and ensure it wasn’t wasting the hard earned money you were coerced into giving it (don’t ever, ever believe the nonsense that taxes are “voluntary”). Somewhere that notion got warped into what we endure today.  Taxes are essentially considered government’s rightful cut of whatever you earn with which it can do pretty damn well what it pleases.  Oh, and for some favored “victims” of life, they don’t have to pay anything.  No skin in the game, no reason to oppose the government’s profligacy – how convenient.  Interestingly the left likes to refer to that as “progressive”.

Finally – for the Mr. Buffets of the world: If you’re feeling under-taxed, if you’re feeling you could give more and in fact are willing to give more, no one will stop you.  Got that Mr. Buffet?  -

No. One. Will. Stop. You.

Pick up your check book, write the check in whatever amount you think is right and send it to the Treasury Department.   Trust me, they won’t turn it down.

Other than that, quit trying to speak for other people and stay out of their lives (or quit encouraging government to take more).    We have a serious spending problem and all the extra taxes in the world aren’t going to change that.  Instead of trying to bully the rich into giving up even more of their money, beat up the politicians and demand they cut spending, cut  it now and cut it drastically?  Make spending equal revenue.

If they’d do that, you wouldn’t have to make silly statements about taxes and wanting to pay more, would you?

~McQ

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18 Responses to Speak for yourself, Mr. Buffet

  • Wild idear here…
    Warran Buffet could spend his money…however much…BETTER than can the Federal government to do good stuff.
    If the Federal government restricted activity to what the Constitution says it may do, there would be lots of need, and LOTS of money to meet it.  The need would largely go away over time, and the MONEY WOULD INCREASE…
    so says history, anyhow.

  • This has made me angry for years. As I have written in endless letters to the editor, feel free to send extra money to the US Treasury. The holier-than-thou wealthy clowns make it difficult for the rest of us who are striving to become wealthy. The same goes for Silicon Valley pimple-faced billionaires who suddenly feel they need to demonstrate their “concern” about the current drama-of-the-day. Stick to what you know and obviously do very well.

    • And of course Google uses a tax shelter called double Irish or something.

      • Well they are do.

        In fact, that’s one of the things one of Buffet’s concerns does.  Construct tax dodges.

        Coincidence?  umm… no.

  • I hear that Buffett made his sizable fortune by supporting and investing in companies that spent far more than they had in revenues and ran enormous losses, year after year.  True/false?

  • George Will, on “This Week” over at ABC, said that Democrats and Republicans can unite around the proposition that “Warren Buffet should have his taxes raised.”
    But I say … Warren, why wait .. do it today ..

    You can make a contribution online either by credit card, checking or savings account at Pay.gov
    You can write a check payable to the Bureau of the Public Debt, and in the memo section, notate that it’s a Gift to reduce the Debt Held by the Public. Mail your check to:

    Attn Dept G
    Bureau of the Public Debt
    P. O. Box 2188
    Parkersburg, WV 26106-2188

  • I’m curious just how much Buffett actually pays in taxes.  I’m betting it is a hell of a lot lower than anyone expects.

    • As famously reported, Buffett claimed to pay about 17.7% of his fat-cat earnings (fine with me, BTW, whatever he earns), while deploring that his $60k secretary paid 30%.  So, if anything, it would mean that Buffet would get LESS a break, and there was no disparity if BOTH paid at 10%.

      But here’s the kicker; why is ANY citizen in the U.S. paying NO TAX?  How is that fair, equitable, and just?  Yet, just less than half of us pay NOTHING for their government.
      http://hindenblog1.blogspot.com/2010/05/burn-obama-proves-idiocy-on-tax-matters.html

    • Not much because his salary is very low and most of his wealth is tied up in Berkshire shares which he essentially never sells.  When he does have taxable investment income, it’s usually at more favorable long-term cap gains rates.  Buffett has a lot of wealth but he rarely spends it.  He lives modestly.  A cornerstone of his investment strategy – wisely so – has been the minimization of taxes.  Read his bio, it’s fascinating. Beyond the ability to invest, he’s a mess of a human being.

  • This is how rich libs support their favorite party: by serving as Judas goats.  See, Buffet is so flippin’ rich that Uncle Sugar could steal take in taxes 90% of his income and he’d STILL be filthy rich compared to the rest of us.  O’ course, he’s also rich enough to hire the very best tax attorneys and accountants to hide his income.  Further, I think we all know that, like Tax Cheat Timmy and a host of other lib tax dodgers, he’s in no danger of prosecution by the IRS.  Some pigs are more equal than others, you know.

  • As a resident of Washington State the person that really irritates me is Bill Gates, Sr.  Arthur Laffer addresses him in the WSJ here. Why didn’t he just donate the money ($500,000) to government that he used to promote a state income tax?
    By the way, Laffer presents some interesting info on the wealth destruction caused by taxes.

  • I am more annoyed that Buffet benefited mightily from TARP and the bank bailout.  I guess he wants the rest of us to pay more taxes so he can get more bailout.

  • IIRC, progressives lament that some poor and middle class people vote Republican and do not “vote their interest.” I guess they would consider Buffet to be an idiot just like those people, right?

    • I don’t know how Buffet usually votes, but in 2008 he publicly endorsed Obama and spoke well of Obama for most of 2009. Obama even mentioned Buffet as one of his financial advisers.

      That’s what I have trouble forgiving Buffet for.

    • Buffet has been supporting democrats for a long time.

  • Buffey can pony-up my share while he’s at it.