Because many wealthy Liberals are losing sleep at night, feeling they are not paying their fair share of taxes, they lump all successful people into the category of people who are somehow scamming the system. The guilt-ridden-in-Chief, Warren Buffett, can’t seem to deal with his overwhelming sense that his elite class of society is somehow culpable for the nation’s debt woes.
Buffett’s latest column in the New York Times whines that many like him have been given preferential treatment by the tax code and that the wealthy should pay more. Clearly Mr. Buffett doesn’t understand the difference between wise investing and building a business. Buffett has been a brilliant investor and has made his clients bucket-loads of cash, but with all that cash how many jobs has Mr. Buffett created?
Perhaps that preferential treatment he’s receiving should be directed towards creating jobs. It’s the lack of jobs that poses the most serious threat to the nation’s debt status. Warren could give his entire fortune to the government and it would barely register on the national debt clock. Could a man with such a gifted investing mind actually be that dense?
If the government taxed the top 5 percent of all income earners in the United States at a 100 percent tax bracket, taking every penny they earned, the deficit would be a paltry 3.75 percent lower. How can Buffett, and the fortunate Liberals like himself be so simple-minded?
There aren’t a lot of options available to the government; 2 actually; generate much more revenue through taxes by broadening the tax base (remember, 51 percent of all Americans pay zero taxes,) and cut government spending. As successful as Mr. Buffett and his fellow Liberals may be, they simply do not have the funds necessary to address a government that peters away $3.7 trillion a year.
Warren Buffett can do math. The government currently brings in about $2.4 trillion a year. Debt service (the interest on the current and growing $14.7 trillion debt,) eats about $960 billion a year. Grabbing your calculator, you would quickly deduce that the $1.5 trillion going in the bank is less than half of what the government is projected to spend this year. Despite Mr. Buffett’s shame, taxing him at a level that would purge him of his guilt would barely be noticed.
There’s a simple solution Mr. Buffett could avail himself of, and he could spread the information to others that believe they aren’t fairly taxed, and that’s to donate what they believe is a fair level of taxation to the government. Fortunately for Mr. Buffett, the U.S. Treasury will gladly accept the money he feels he so dearly owes. All Warren needs to do is go to Gifts to the United States Government, a website that allows anyone to make a generous donation to the U.S. Government. When was the last time you heard of a left-winger donating to the Treasury? Calling Mr. Kerry, Mr. Kerry, have you sent in any of that Heinz fortune?
The commotion has very little to do with right and wrong, otherwise it could easily be remedied by sending in the money you feel you’re so improperly being allowed to keep. They won’t do it, because it isn’t their money they want the Treasury to have, it’s yours.