Warren Buffet Isn’t Serious About Taxing the Rich, and Neither is Obama

August 26, 2011 05:00

Liberals like to spend their own money.  They want to spend yours as well — it buys them moral superiority.  Without actually giving the government an extra dime of his billions, Mr. Buffet can bask in the glow of his own liberality and fair-mindedness, merely by attacking his wealthy peers.

By Karin McQuillan at American Thinker


He [Buffet] was asked by CNBC reporter Rebecca Quick in 2007 why he shelters his fortune in tax-exempt foundations instead of giving it to the government, as he exhorts others to do.  Buffet replied, “I think that on balance the Gates Foundation, my daughter’s foundation, my two sons’ foundations will do a better job with lower administrative costs and better selection of beneficiaries than the government.”  In other words, he thinks he has better ideas for how to spend his dollars than the government, and would do a better job of it, too.

He [Obama] has made no proposals — only speeches.  Obama harps on raising taxes on the rich.  He defines “rich” as all families earning above $200,000 a year, not Mr. Buffet’s million-dollar-a-year taxable incomes.  Obama would raise taxes on our doctors, lawyers, small business owners — successful upper-middle-class people of all stripes.

The speeches themselves harm our economy by creating an anti-business climate.

Obama has one purpose: to distract attention away from Obama’s own colossal failure and dwindling political support.  He has nothing constructive to say.  He has not one good idea for how to correct the economic mess he has plunged us into with his irresponsible spending.

Obama is serious about the joys and benefits of class warfare to promote his own reelection.  Mr. Buffet enjoys promoting false solutions that bolster his sense of moral superiority.  Meanwhile, millions of Americans are sleepless tonight, worrying about how they will pay their rent, their mortgage, their car payments.


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