I know most people are not knee deep into politics, but I am. I follow it pretty close but sometimes you miss the obvious.
Warren Buffett wants a tax on the rich - the one percent - or whatever qualifies today or the next day for being rich. He wants to raise the income tax - something that he does not pay because his entire income and his vast fortune are built on interest income - playing markets. He pays the capital gains rate, which sits right now at 15%. President Obama wanted initially to raise this rate - that is what he campaigned for in 08. Not until after Obama was elected did Buffett call for an increase tax, but it wasn't the Capital Gains tax, it was on income tax. Obama changed course as well, and increasing Capital Gains is never mentioned again, but Buffett's support for an increased income tax is constantly mentioned anytime the Main Strean Media outlets get the chance.
I am surprised Bob Costas did not call for the same increase at half-time on some nationally televised NFL game
Keep in mind as well, Buffett's persona, which is well crafted by the very best of the best of Public Relations Firms - something you would not need if you simply did the right thing at the right time for the right reason.The impression crafted by the creme de la creme of these firms is that of your kind Grandpa type. If you have one you loved him, if you didn't, you always wanted one because they seemed so cool. An old guy that always has a few extra bucks and if you pass the ice cream stand - you know he is going to get you ice cream - on the other hand you wonder why he doesn't tap into the stash and spoil you with cool shit. You still like him though and will take what you can get. Not a bad guy.
That is the professionally crafted image displayed in public - whatever he does behind close doors or his "real" personality is anyone's guess. I don't think it is a stretch to conclude he his driven by greed. He is worth 46 Billion and still puts in a full work week - what other conclusion is there to draw?
If it leads to hard work and success, it is a good thing. If it leads to dishonest and ruthlessness, it is an evil thing.
Warren Buffett is greedy and ruthless. No? Just a kindly old gentleman who knows how to read the markets? Right. Public Relation Firms are good.
If I were fortunate enough to have amassed his kind of money, I would have retired quite awhile back as would have most of us. More than enough money to enjoy life. Maybe still played around with E-trade or what have you but I am going to enjoy at least a decade or two of the good life. Certainly not die at work.
Yes, he is that greedy old man that will be still trying to move around and make money on his death bed. Actually, pretty pathetic.
The man is driven by money. That's why he still works more than 40 hours a week - greed. You can't quit your job if your job is being Warren Buffett and you are Warren Buffett.
Playing the market is a game to Buffett and also his full time job, just like a professional poker player. Those middle class families who have money tied up in the market have decided to play the game to make a little extra cash, help pay for kid's college, help fund their retirement. That middle class money is chips on the table and Buffett sees them as potentially his. Proffessional poker players feast of the amateurs and so does Buffett. Poker by any other name is still a game.
He does not care how the Federal Government raises revenue unless it takes chips off the table where he is one of the big stacks. Whatever Obama takes out of the uber-rich, they will still keep their chips in the game. The middle class won't. The middle class, whose large majority of income is taxed at the earned income rate, won't have enough to risk at 28 percent in the market and/or as much to put into the game - that money is going elsewhere. That's a huge chunk of chips being held by the collective middle class. A 28 percent capital gains tax disturbs the middle class stack of chips.The cannot afford to play anymore. Buffett wants as many chips on the table that he can get. Keeping capital gains at 15 percent while increasing income tax - does that.
And while he likes making money - he probably loves the thrill just as much. Whatever time he is awake I am sure he is fixated on the markets - he obviously loves it or we would not even know his name. He aint' out playing shuffleboard somwhere or constructing the most impresive crib at "The Villages."
You would have to suspend common sense to deny at least the possibility that a man whose life has been fueled and rewarded by greed would be above lending his name to the Democrat Party - something he merely sees as a vehicle to keep as many chips in his game as possible - it has nothing to do with the "common good". Not to mention he public image is boosted more so, as the generous old man calling a tax on the rich. Makes him seem above politics, doesn't it? Most people assume he is calling for a tax on himself, they do not realize he does not pay income tax, so he doesn't income tax - he pays the Capital Gains rate - which is left at 15 percent. Even more beneficial is all the middle class money will stay in the game. That was his only purpose for supporting increased taxes - it was to his complete benefit.
Consider that he was not out promoting taxing the ich, until along came Obama, and he knew increased taxes were imminent. Why was he not calling for increase taxes the previous few years?
I mean - I heard he is pretty good at economics - maybe he should have been calling for this tax a few years earlier. Of course, Bush wasn't going to raise taxes so his game was undisturbed by the Feds. Obama's election meant higher taxes -and along came Bufett. Low and behold, Buffett now wants to increase income tax - not the capital gains.
As far as the Democrat push for higher taxes - they are merely looking for increased revenue. They do not really care where the money comes from - it will spend anywhere. Whatever is more sellable to the public with an assist to the MSM, will do. The private sector is doing - "fine".
The depth of addiction to spending can truly be compared to a heroin addict. You have hit rock bottom when you are willing to perform fellatio on anyone who can help get your next fix. Greedy old men included.
Oh, and Buffett scores even more political points by appearing to be on the tax the rich side. If he does not turn up dead with a shovel in his hand, burying gold in his backyard first, he will push Republican economic ideas - whenever that opportunity rolls around as long as it benefits him. And he will appear to be non-partisan!!
Warren Buffet is the Grandpa type guy alright - with more than enough money to buy you that ice cream - except he wouldn't - he would walk right by.
Grandpa's got a poker game to get too.
PS. Spare me about any money given to charity - it just well spent public relations cash. It pays dividends.
Plain as day:
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