Warren’s tax opinion piece keeps on ticking
As those who follow politics and business news (from what I understand, that’s at least 99% of the U.S. population, even infants) must have read or heard, Warren Buffett suggested, in an opinion piece, last week in the New York Times, that the federal government should raise taxes on the wealthiest Americans, himself included.
“My friends and I have been coddled long enough by a billionaire-friendly Congress,” he said. “It’s time for our government to get serious about shared sacrifice.”
Now everyone is in a tizzy trying to figure out what to make of this argument by one of the richest men in the World. After keeping silent for an entire week (since the article was published), I’ve decided to put an end to all the confusion.
There are two real possibilities which may have caused Mr. Buffett to make what seems a ridiculous suggestion from a man who stands to lose money if his recommendation is implemented. First, Mr. Buffett has, in his old age, succumbed to dementia and is babbling nonsense. Second, his accountants and advisors have figured out a way for his company to benefit from a tax hike on the rich. Perhaps a new tax on the rich would fill the government’s coffers to a point where a second round of ‘stimulus’ spending can be implemented. As all you politically and financially savvy readers know, most of the last round of stimulus went to big financial institutions. As I’m sure most, if not all, of you have picked up on the subtle genius of this plan, I’ll just leave the explanation at that, and let you discuss things amongst yourselves.