Tax the Rich? The Tale of Warren's Money

In late 2010 Warren Buffett wrote an open letter to his "Dear Uncle Sam." He said, referring to the bailout, thanks for saving the economy. 

Mr. Buffett, one of the two richest men in America, believes in a big, vibrant State. He told ABC's Christiane Amanpour that the wealthy should pay more taxes. 

In the panel discussion on ABC's "This Week" (11/21), George Will said, "I think we can all come together on raising Warren Buffett's taxes."

That's funny. Biting. Will Rogerseque. And wrong, because . . .

I don't want Mr. Buffett's taxes increased.

Ms. Amanpour asked Buffett about so-called, trickle-down economics. Wouldn't increasing the taxes of the rich hurt the economy? Hey, I believe that increasing taxes is a job killer. After all, I'd like to get financially wet too! But that's NOT the main reason to object to the "tax the rich" plan.

I have a much more profound reason for opposing ANY federal government tax increase.

After all, I can think of things to do with Warren Buffett's money. If he's so eager to see it spent badly by others, then I'd be willing to split it with you, and a few dozen other readers.

But I don't want to see his cash become financial support for an institution that . . .

 * Has armed personnel, who can kick down your door in the middle of the night
 * Drag you to jail
 * Confiscate your property
 * Turn your life upside down

I don't want to see a group of megalomaniacs with messiah complexes get additional capital.

I don't wish to give even more funding to a group that spends hundreds of billions of dollars on tools that kill people and break things.

And most sadly for Mr. Buffett, I don't want to bailout those massive entities that are allegedly "too big to fail." That's right, I don't want to . . .

* Socialize the losses of Mr. Buffett's social circle and business associates**, or 
* Salvage government Ponzi-schemes, either.

I don't want Uncle Sam to get your money, or my money, or even Warren's money.

I want to put Uncle Sam on a diet.

 * Slash taxes
 * Ban inflation
 * Reduce the debt

And the only way to do ALL THREE of these things is to focus on what matters most, and that is . . .

THE SPENDING.

We must "Downsize DC" because, big government harms you, hurts your family, damages your industry, and destroys your community -- it even kills people.

We must Downsize DC for Human Progress.

Now, Warren, if you'll send me a ten-figured (or more) check, I promise to use it to create twice the number of jobs that the federal government would create with those same dollars. And unlike when you turn those dollars over to The State, no one will get hurt by the jobs I'll create.

** Post Script: Was Warren saying thanks because HIS portfolio was bailed out? And is he willing to pay a small price in taxes because HE was bailed out? ...and wants the bailouts to continue?


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Copyright (c) 2011 by Jim Babka. Permission to distribute this blog post for educational purposes is granted, if done with attribution to the author and the Downsize DC Foundation. Permission to use for commercial purposes is denied.