Check out this recent article by Warren Buffet: Stop Coddling the Super Rich
Of course Buffet wouldn’t mind it if they raised taxes on him and his wealthy buddies: HE’S A BILLIONAIRE! He won’t miss it! He doesn’t even keep track of his own money. When’s the last time Buffet had to watch his grocery budget?
But if they raised interest, dividend and capital gains taxes (his primary source of income) it would raise taxes on all the rest of us too. Including people like my in-laws who are 89 years old and their income is a social security check and a little bit of interest and dividend income. Buffet’s approach would raise taxes on them, too.
Enough with taxes. Get a job – pay taxes. Generate an income – pay more taxes. Save a little – pay more taxes. Spend a little – pay more taxes. Start a business – pay more taxes. Hire an employee – pay more taxes. Work your butt off and have even a little bit of success – pay more taxes. Die – pay more taxes.
It appears “shared sacrifice” has become code for “keep the government spending going but take the money to fund it from someone else… like those successful people over there”. Well, I for one have had enough of the duplicitous talk and rhetoric from political fat cats with a socialist, redistribution, or any other agenda. It’s time to cut government spending AND taxes and leave us all alone.
My advice to Buffet is this: If you want to pay more taxes, tell your accounting staff to write some extra checks and send it in.
You may be rich, but that doesn’t make you right. That was a boneheaded article in the NY Times.