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It seems the famed ‘Oracle of Omaha’ has some ‘splaining to do.
It began like this. Leftwing crony capitalist Warren Buffett penned an opinion piece for the New York Times. In it, he wrote this, “OUR leaders have asked for ‘shared sacrifice.’ But when they did the asking, they spared me. I checked with my mega-rich friends to learn what pain they were expecting. They, too, were left untouched.” Warren Buffett, August 14, 2011 ‘Stop coddling the super-rich.’
Well, the sound and fury signifying nothing came down from the sky. I had uber-liberal friends coming out of the woodwork to say, ‘see, even Buffett sees it.’ I calmly told them he could write a check anytime he wanted to. The United States Federal government has been accepting donations since a fund was set up in the mid-1800’s. Of course, they then went on to argue it wasn’t JUST Buffett but all the greedy, parsimonious rich who needed to ‘pay their fair share’ which has become a kind of nonsensical mantra of sorts.
Meanwhile, some inquisitive types started doing a little digging. Buffett states his percentage of income taxed is lower than his office workers. He’d be happy to pay more. It would make his heart sing and his little toes tap just to write some more zeroes.
I think Buffett may have had his fingers crossed when he begged to pay more.
From the New York Post, ‘Warren Buffet, hypocrite,’ August 28, 2011.
“This one’s truly, uh … rich: Billionaire Warren Buffett says folks like him should have to pay more taxes — but it turns out his firm, Berkshire Hathaway, hasn’t paid what it’s already owed for years.
That’s right: As Americans for Limited Government President Bill Wilson notes, the company openly admits that it owes back taxes since as long ago as 2002.
“We anticipate that we will resolve all adjustments proposed by the US Internal Revenue Service (“IRS”) for the 2002 through 2004 tax years … within the next 12 months,” the firm’s annual report says.”
The piece then states Berkshire Hathaway didn’t pay taxes from 2005 to 2009 either.
So, how much cabbage is in the hopper waiting for Mr. ‘Tax me, tax me’ to cut a check. From Newsmax, ‘Report: Buffett’s Berkshire Owes $1 Billion In Back Taxes’ September 1, 2011. “Using only publicly-available documents, a certified public accountant (CPA) detailed Berkshire Hathaway’s tax problems to ALG. ALG President Bill Wilson cites the company’s own 2010 annual report, which states at one point that “At December 31, 2010… net unrecognized tax benefits were $1,005 million, or about $1 billion.”
So, the Opportunist of Omaha knows he can figure out ways to avoid paying taxes, and that burden will shift to other, less fortunate people. This way, he can look like an altruist, while still raking in the cash, tax free. Score!
Buffett’s disingenuous call was exactly what we’ve come to expect from these limousine liberals with ‘patriotic wishes’ and caviar dreams. They want to screw the middle class more while elevating their own status. It’s progressive/socialist playbook, rule 37b. Create illusions and stab your fellow man in the back.
In fact, fellow crony capitalist, Mayor Nanny Bloomberg’s ‘Business Week’ had an Op/Ed that laid it all out. Hoping this would defend Buffett from calls to ‘write a check,’ Nanny’s gnomes wrote a piece titled, ‘Buffett’s Tax Idea Withstands ‘Write a Check’ Critique: View’ August 30, 2011. Nanny’s pet bloggers first laid out how preposterous it would be for Buffett to write a check. They wrote this which states who will actually pay the tax.
“President Barack Obama has said that $200,000 of income — not wealth — is the point at which the people who have been most fortunate in this country can afford to pay a bit more in taxes. He wants individuals, not companies, to pay more.” So, now we get to the nub of the matter. Business Week is admitting this big ‘tax the rich’ scheme is really just a way to ‘soak the middle class.’ Even earlier in the piece, they admit small businesses are taxed at the higher rates and they think that’s just fine, as long as all those handy tax shelters are still available for them.
It is you they want to drain. “It’s not that people with high incomes are bad people. It’s that the government needs revenue, and it has to come from somewhere. We believe that “somewhere” should include the middle class as well as those with especially high incomes.” No, we don’t hate the rich, just the fact they are making money we didn’t approve. Luckily, most of the wealth in this country is safely ensconced in the middle class families and businesses. That way, we can keep the government, and their shills like Buffett, away from absorbing our incomes and savings.
Just keep in mind, these so-called ‘rich Democrats’ are just another group of people that want more power. We must remind ourselves our liberty is safest when not listening to these frauds and cheats.
Crossposted at Looktruenorth.com