Monday, August 15, 2011

Yawn: Warren Buffett Wants His Taxes Raised

Why is it these loudmouths don't just pull out their checkbooks and write a check for whatever extra taxes they want to pay?
Warren Buffett, the third wealthiest man in the world with a net worth of around $80 billion, is demanding the U.S. government make the rich like him pay higher taxes and says they should no longer be protected like endangered “spotted owls.”

In a New York Times op-ed on Monday, titled “Stop Coddling the Rich,” Buffett, Berkshire Hathaway’s chair and CEO, said he and his “mega-rich” friends have been spared the “shared sacrifice” the country’s leaders have asked for as the country veers toward a double-dip recession.

“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,” he wrote.

“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.”

He observes that investment managers earn billions, but only pay a 15 percent tax rate.

Buffett said his 2010 tax bill, including income and payroll taxes, totaled $6,938,744 — or 17.4 percent of his taxable income. Most people in his office pay 33 to 41 percent, he said.
Um, Warren, since you're supposedly worth $80 billion, why not just give it away to the federal government. Put your money where your mouth is of just shut the hell up.

Just watch, as Obama embarks on his campaign bus tour today, he'll be quoting this clown.

Update: As predicted, Obama cites the Buffett piece.
in cannon falls, MN, POTUS cites Warren Buffet's Sunday NYT oped about how the wealthy should pay more in taxes


Bob said...

It's not that he minds all that much paying, himself; it's just that he wants the rest of the rich class to be forced to pay, also.

Rose said...

I agree - let him pull out his check book and start giving his money to the IRS, and then let him go down to the poor areas and give people enough for them to make a fresh start. Empty his own pockets voluntarily, first! Move out of his mansions and live in a plain apartment - buy a plain Chevy Neon - and have a $300 per month food budget.

Tell him to WALK the talk!

Grotjan said...

He has done everything in his power to reduce the tax burden of Berkshire his entire life (the idea being he wanted to Berkshire to have as much money on hand as possible so he could compound it using his investment skills).  I assume he's tried to manage his personal tax burden much the same way until he decided to start giving his money away.  BTW, the reason why he's pledged to give all his money away is because he doesn't want the thieves in Washington to squander away his fortune after he dies.

World class hypocrite. 

Mark Garrity said...

At 15% the US government is collecting the lowest percentage of taxes vs GDP since 1950 when Truman was president. Anyone who is serious about deficit reduction knows that has to go up. 67% of American corporations pay no taxes. If you don’t think that has to change you’re not serious about reducing the debt. Period.