March 26, 2012

Warren Buffett, hypocrite

Buffet - the art of deceptive distraction.
Armstrong Williams nails Warren Buffett and his phony love of taxing the rich more:
Wealthy liberals fortifying their positions with their Robin Hood policies are in the news every day. One we’re all sick of hearing about is multibillionaire investor Warren Buffet, who supports raising taxes on capital gains and dividends, despite having made his fortune this way. While I respect Warren Buffett and do not begrudge him his wealth and success, he makes a highly disingenuous case for some very destructive policies.

Not only has Mr. Buffett made the moral argument that it is “fair” and just to impose an alternative minimum tax of 30 percent on millionaires, but he also has misrepresented the salary of his secretary (who has allowed herself to be enlisted for his and the president’s political purposes) and the tax rate he pays. What could explain such bizarre behavior from an octogenarian billionaire? Why would a self-made man want to punish success and reward failure?

The answer is that he is already a billionaire. Were he still climbing the ladder, rather than merely trying to maintain his vast wealth, he might have a different view of “fairness.” Indeed, I would be curious to see what his views were decades ago.

It is simply laughable and deserving of ridicule that fairness requires that we make an already highly progressive tax system even more progressive than it already is, rather than flattening the tax so that all pay the same portion of their wealth. No one even reasonably acquainted with the facts can maintain that our government doesn’t plunder the wealthy enough; it would require an ulterior motive to hold such a ludicrous belief.
I haven't really posted much about Buffett because I've always found his supposed altruism both contrived and disingenuous.  Since Armstrong Williams has nailed it on Buffett, I will simply add, enough said and be done with it. 


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