Free Markets, Free People

Warren Buffett


Buffett: bluffs and buffoonery

I don’t understand the glee with which the left has greeted this story:

Warren Buffett is ready to call Republicans’ tax bluff. Last fall, Senator Mitch McConnell said that if Buffett were feeling “guilty” about paying too little in taxes, he should “send in a check.” The jab was in response to Buffett’s August 2011 New York Times op-ed, which made hay of the fact that our tax system is so unbalanced, Buffett (worth about $45 billion) pays a lower tax rate than his secretary. Senator John Thune promptly introduced the “Buffett Rule Act,” an option on tax forms that would allow the rich to donate more in taxes to help pay down the national debt. It was, as Buffett told me for this week’s TIME cover story, “a tax policy only a Republican could come up with.”

Still, he’s willing to take them up on it. “It restores my faith in human nature to think that there are people who have been around Washington all this time and are not yet so cynical as to think that [the deficit] can’t be solved by voluntary contributions,” he says with a chuckle. So Buffett has pledged to match 1 for 1 all such voluntary contributions made by Republican members of Congress. “And I’ll even go 3 for 1 for McConnell,” he says.

What “bluff”?  I don’t recall any of the Republicans in question complaining they paid too little in taxes, do you?

Instead it was about Buffet claiming he paid to little in taxes and his further claim that he was willing to pay more.   What Republicans then promptly suggested is that he do so and even provided him an address to where he could send his voluntary contribution. They also insisted that taxes were high enough for all and that Buffett should speak for himself.

Now, at least as I see it, he’s trying to wiggle out of it by citing some sort of non-existent bluff which requires payment by Republicans before he is willing to pay.

Man up Warren Buffet … You made the claim and were provided with a solution.  This has nothing to do with others paying as well, this is your baby.

Put up or shut up about paying more in taxes.  You’ve become more than tiresome.

~McQ

Twitter: @McQandO