Home > Finance and Economics > Thanks, but no thanks Mr. Buffett

Thanks, but no thanks Mr. Buffett

The Sage of Omaha thinks he should be paying more in taxes:

Billionaire Warren Buffett said that rich people should pay more in taxes and that Bush-era tax cuts for top earners should be allowed to expire at the end of December.

“If anything, taxes for the lower and middle class and maybe even the upper middle class should even probably be cut further,” Buffett said in an interview with ABC’s “This Week With Christiane Amanpour” that is scheduled to air on Nov. 28. “But I think that people at the high end — people like myself — should be paying a lot more in taxes. We have it better than we’ve ever had it.”

Let’s bear in mind that Mr. Buffett is one of the wealthiest people in the world.  So much so that he is privy to the sort of preferential business transactions that only those in the upper stratosphere of wealth can enjoy.  Let us also not forget that he is a big supporter of President Obama, and was on his short list for Treasury Secretary early in the transition.

That being said, these kinds of statements by the richest of the rich, are so disingenuous, they border on insulting.  Buffett can say these things, because he and everyone else knows it will never happen.  People like Buffett are relatively immune from the ruinous nature of our tax codes, especially in the age of Obama.

If Buffett was really serious about what he’s saying, then I’d expect to see news that he has voluntarily mailed in a check for several hundreds of millions of dollars, payable to the US Treasury.  Until then, thanks for the advice Warren, but no thanks.

UPDATE.  What Fausta says.

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