Wednesday, August 17, 2011

Cut the check Warren...

By D.C.

In last Monday's N.Y Times Warren Buffett has a an op-ed piece where he continues his same old song and dance that he and all the other evil rich don't pay enough taxes.Buffett has been saying this since at least 2007 when he said his secretary paid a a higher percentage of income tax than he does.
In Monday's op-ed,he says he paid $6,938,744 in payroll and income taxes(17.4% of his income).I will not argue with Mr.Buffett that our tax system needs a major overhaul,I doubt we would agree what the rates should be,but lets put that aside.
Hey Warren,nothing is stopping you from paying more.Why don't you step up,be a leader to all those other greedy rich folks,just write the check.You could be the first,break the ice,once you jump in all the other rich folks will follow along.(Yeah right,sure they would.)
You paid roughly $7 million in taxes last year,you don't think it's enough,double it,triple it,quadruple it.Go ahead,put your big money where your big mouth is and cut a check to Uncle Sam for $42 million.More? Write it out for $60 million.I mean,don't be too greedy Warren.
This is the fact,Mr.Buffett sowed his lot with the democrat party years ago and he is an Obama supporter.He goes around saying these things to give Barry O an example of a rich person who supposedly doesn't pay enough in taxes.It adds more fuel to the democrats class warfare bit.
I don't think 'ole Warren pays too little in taxes,I think the government spends too much of Warren's tax money.I don't know how many billionaires there are in America,but lets say there are 3000 of them.Take those 3000 billionaires and say they all pay Warren's jacked up rate to $60 million in tax.That's only 180 billion.Do you know how fast the government blows through $180 billion?
I'd rather have that $180 billion invested in the economy than wasted by the government.If you took that $180 billion and just put it in a bank at .001% interest,it would benefit the country more than turning it over to Barry so he can re-distribute it.
This is another fact,tax all the rich folks income at 100% and it might cover the government spending for a year then where would you be the next year? For the government to continue spending and growing at the rate Obama has us at now,the rich can't bail out the government only us middle class taxpayers can.Thats who Obama really wants to raise taxes on,us regular working folks and small business owners(the real job creators).
I'd like to ask some of Warren's investors if they agree with his tax proposals.Warren doesn't want to pay any more in taxes.He knows that even if Obama could magically raise these taxes he wouldn't because the rich liberals would revolt and Obama (and the democrat party) would loose a major funding source.
If Obama could magically raise these taxes it wouldn't be long before Barry got one of those 3 AM phone calls Hillary warned us about.It would be from a very hacked off Warren Buffett.
On this whole class warfare/raise my taxes stuff,Warren is full of crap and he knows it.

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