NEW YORK (Reuters) - Warren Buffett has touched a national nerve.
The 80-year-old "Oracle of Omaha," one of the world's three richest men, has taken to the pages of the New York Times to call for higher taxes -- yes, higher taxes -- for himself and his well-off peers. (Monday, August 15, 2011). What a concept. This coming from a man that has been noted as being as smart as President Obama. When two powerful brains like this come together, it is time for the "common man" to demand that this becomes policy, rather than just idle talk. But wait......if Warren Buffett wants to pay higher taxes.....just what is stopping him? Is there some law that you can't overpay your taxes? No, there is no legal obstacle preventing the "Oracle of Omaha" from writing a big fat check to the U.S. Government. But maybe there is some hidden reason for this one man "brain trust" wanting others pay higher taxes? Or maybe this 80 years old needs a conserver for his personal finances. In other words, maybe the "Oracle" is "brain dead". But the truth of the matter is that this man has made his fortune by the grace of government. He has made a fortune by avoiding the laws that weigh on the "common man". He has had the ability, and foresight, to buy into, and direct. companies that are regulated by oppressive laws passed by a corrupt Congress. And by understanding these repressive rules, he has been able to pick winners in business. The game is fixed and everyone knows it, but the "common man" must work to live, so he has not paid attention as to how corrupt our government has gotten in the past 70 years. If Buffett had worked and developed a business that created some actual tangible product, or some consumer service, he probably would not be so eager in wanting the government to take more taxes from his hard earned profits (in his youth he did sell newspapers, and soda drinks, door to door, and he did invest in a Sinclair Texaco gas station as a side investment that turned out to be a failure). Rather than wanting the government to create more laws, and rules for business, he would understand that government rules only place roadblocks in the way of Freedom. That they reward those who invest in seeing that their "friends" are elected to office, so that special rules can be "invented" to impact on their competitors, or make their business "special" or "too big to fail". I am sure Warren Buffett is a nice guy, but he hasn't done anything that impresses me enough to join him in his call for higher taxes on the productive citizens who take the risks, and provide services, the public wants. So rather than telling government to make more tax laws for the wealthy, how about the "Oracle of Omaha" just writing a billion dollar check to the government, and asking those who think as he does, to do the same. Bet, Buffett's check, and one from Hillary Clinton (she doesn't think she pays enough taxes either) would be the only checks written to the treasury.
Lord Howard Hurts