Framing the Dialogue

Despicable…YOU!

You gotta love the chutzpah of FOO (friend of Obama) Warren Buffet who again called for increased INCOME taxes on the rich like him.  He is certainly the media darling for his continued support of Obama and was amply rewarded when friend Obama nixed the Keystone XL Pipeline.  It seems that now all that oil has to be hauled by rail;

“Whatever people bring to us, we’re ready to haul,” Krista York-Wooley, a spokeswoman for Burlington Northern, a unit of Buffett’s Omaha, Nebraska-based Berkshire Hathaway Inc. (BRK/A), said in an interview. If Keystone XL “doesn’t happen, we’re here to haul.”

What an AMAZING coincidence!  That Buffet guy just seems to be in the right place at the right time.  All that and Buffet wants the federal government to raise income taxes on rich folksof which he sits at the top of the heap worth approximately $46,000,000,000.00 (46 billion dollars);

“He said Congress should enact a minimum tax on high incomes — 30% for taxable income from $1 million to $10 million and 35% for anything above that level.”

Isn’t he just the BEST?  Buffet has been singing the same tune since before his good buddy, Obama, got elected in 2008.  He’s been consistent and undaunted. HE IS ALSO DESPICABLE!  You see while Buffet calls for higher taxes on “INCOMES” he knows that most of his wealth comes from capital gains…in other words he has very little “INCOME” to tax.  That’s why he is so enamored with taking money from others.  I visualize Warren Buffet like the cartoon character Scrooge McDuck who has a room filled with gold that he loves to just roll around in.

Buffet must not only want to keep his billions, but he’d like to keep you from getting yours.  Like I said, DESPICABLE. That FOO, chattering media eat this stuff up either because they are just plain stupid or are down with the plan.  There is just no other way to explain why they don’t call Buffet on this.  Even a broken clock is right twice a day so you’d think that some nimrod reporter would stumble on a good economics book. I would like to propose some things to Mr. Despicable Me (Buffet):

  • Since you are worth an estimated 46 Billion dollars and that is by my accounts 45.5 billion dollars more than any human could possible need you should immediately give 45.5 billion dollars to the federal government to pay down the national debt.
  • You will get much acclaim from the needy federal government for your generosity.
  • The media will love you even more.
  • Think of the tax break you’ll get for “donating” all of that wealth.
  • Think Mt. Rushmore right next to Obama (and certainly to the LEFT of the other guys).
  • Since I don’t think you’ll really do that (as evidenced by the fact that you have yet to PUT YOUR MONEY WHERE YOUR MOUTH IS) I propose a WEALTH TAX.

Yes I said a wealth tax.  Instead of looking just at a person’s income the federal government will also consider your wealth or worth when adding up your tax bill.  Rich folks like Buffet will no longer be able to hide behind the “income” dodge.  Obama and the Demoncrats would love to lighten your load/wallet.  Using Buffet’s numbers I propose:

  • 30% tax on wealth for wealth from $1 million to $10 million
  • 35% tax on wealth for any wealth above the $10 million level.

Sadly you may have to sell a few shares of your Berkshire Hathaway, but it’s all for the common good right?  I know that this is what you meant to say when you volunteered higher taxes for the wealthy.  Your word will mean more when you really have skin in the game.

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