Tuesday, November 27, 2012

A few words about Warren Buffett....

First of all, I would be less than honest if I didn't say up front that I have always had the greatest respect for Mr. Warren Buffett.... investor billionaire extraordinaire.  He has always done well, managed his companies well, lived modestly (for a billionaire), been philanthropic and wise with his money - and probably goes to church on Sunday. 

But the last couple of years, his holier than thou attitude pleading for Obamanation to raise his taxes is wearing a little thin. I find myself often reminded of Brer Rabbit pleading, 'Please don't throw me in that brier patch!"    

C'mon - let's face it - if Warren Buffett was truly conscience stricken by his wealth and tax avoidance -- all he needs to do is tell on of his many degreed accountants, "When you have figured my final tax bill on this years Form 1040, double the number due and remit that amount."  Period, end of discussion.

But nope, he has to bear his breast, go public, pontificate, verbocitate and finally, just sends in that amount that those expensive accountants can't protect!  Give me a break. 

What brings this to mind today is a new, oiler, improved version of the Buffett Hair Shirt Syndrome Op-Ed in Sunday's NY Times. Here are his first two paragraphs:

"SUPPOSE that an investor you admire and trust comes to you with an investment idea. “This is a good one,” he says enthusiastically. “I’m in it, and I think you should be, too.” 

Would your reply possibly be this? “Well, it all depends on what my tax rate will be on the gain you’re saying we’re going to make. If the taxes are too high, I would rather leave the money in my savings account, earning a quarter of 1 percent.” Only in Grover Norquist’s imagination does such a response exist." 

Down here in Texas we have words to describe such absolute drivel. Some of these descriptions include male bovines and others end up with 'ca-ca'.....

The man would have us believe that he has NEVER considered the tax ramifications of his his bid'ness ventures...     HAH!

A little research would bring out a multitude of contradictions, but he has done it in his own books, as pointed out succinctly and well by Adam J White, in yesterday's Weekly Standard Blog.   I'm not gonna try to impress you by quoting Adam White - I'm just going to refer you to his great (and short) article.  It's a good read. 

And the next time one of these self serving billionaires publicly pull their hair and cry because they don't pay more taxes -- think of this article.


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