No Fool Like an Old Fool: Warren Buffett

Yesterday on the Today Show, Warren Buffett brilliantly explained why raising taxes of people with high incomes is such an awesome idea. Did he cite reducing the $16 trillion debt, which will be $20 trillion by the time B. Hussein Obama is through? Granted, that would be a stupid reason, since sending your money to Washington, D.C. in the hope of that the weasels there will use it to pay down debt is like giving a crack addict your credit card so he can pay his rent. At least, though, that would have been a defensible position, based in economics and finance, not the sort of moronic, emotionally driven crap I’d expect to see on “Katie.” He said

Raising taxes on the rich won’t dampen economic growth and would “raise the morale of the middle class,” billionaire investor Warren Buffett told the TODAY show Tuesday. Echoing a theme he has stressed often, Buffett downplayed the idea that higher taxes for the wealthy, as proposed by the Obama administration as part of a deal to resolve the “fiscal cliff,” would scare off critical investment for job creation. Republicans argue that raising taxes on people in higher tax brackets would choke off investment and slow the economy at a time when it can ill afford it. Buffett disagrees. “No, and I think it would have a great effect on the morale of the middle class,” said Buffett, in the first of two live interviews with TODAY’s Matt Lauer. “They’ve had to watch guys like me pay below the rate by that paid by the people in my office.”

Seriously? Let me get this straight. An 82-year-old guy who has more money than God, and whose accumulated wealth will not be affected by his absurd tax proposals, wants to confiscate the earnings of other Americans and punish their success because it will make some other people feel good? And they will feel good because they are watching their fellow Americans be punished? I am personally insulted by the accusation that seeing the government steal from the productive would be a feel good moment for me. How about you? I don’t doubt that it would be one for Mr. Buffett, since like many of the very wealthy, he is apparently feeling oh so guilty about having a lot of money. So that he, many celebutards, and other people with more money than brains can absolve their guilt, we all should suffer under no-growth, high-tax policies.

By the way, Warren, how is it that you can be the “Oracle of Omaha” and not realize that if you want your secretary to pay taxes at the investment rate rather than the rate paid by wage earners, why don’t you just pay her in stock?

As my grandmother always said, there’s no fool like an old fool.


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