I want to preface this post by stating, I am sick and tired of hearing about how Warren Buffett pays a lesser percentage of tax on dividends than his secretary pays in income tax. That's only to be expected, as capital gains are taxed at fifteen percent. But what is really irritating as how he portrays this as being so unfair to his poor hapless secretary.
This is not a woman who works in some obscure small town doctor or lawyer's office, or some struggling regional business.
This is the secretary of WARREN FUCKING BUFFETT!!! I have no doubt whatsoever that she makes well up into six figures in salary, probably enough to put her well into the upper income bracket. And that's before you start factoring in other compensation, probably a generous end of the year bonus, birthday bonus, shares of stock, etc. This is not a woman who is just making it.
In the meantime Buffett's company, Berkshire Hathaway, has been in negotiations with the feds as to how much back taxes they owe. The hypocrisy knows no bounds, but don't tell MSNBC that. If you tell them Buffett should release his tax returns, they will call you a Buffett Birther.
Now, Buffett is conducting a scam to inflate the price of Hathaway stock, by announcing a buy-out for up to ten percent above the current price, on the grounds the current stock doesn't reflect what he insists is the company's real value. Alice Schroeder, who has had dealings with the so-called Oracle From Omaho, also hints that this might be a ploy to simply drive up the stock, after which Buffett might decide not to re-purchase after all.
Incidentally, Schoeder once wrote a book about Buffett, who told her when there were two conflicting accounts as pertains to any subject, to always use the version least favorable to him. Then he cut off all contact with her for painting him in an unfavorable light.
This is the kind of man we are suppose to listen to when he advises us to raise taxes on the rich, ie anyone, person or business, who makes more than 250,000 dollars a year.
Two possibilities, either one or both of which might explain this phenomenon.
1. The government has something on Buffett
2. Buffett wants certain businesses to lose their stock value so he can snatch them up.
It's one of the two, and probably both. I would almost be willing to bet my life on number two.
In the meantime, if Warren is really that upset that he isn't paying his fair share, here's a couple of things he can do.
1. If you're really in charge of Berkshire Hathaway, stop haggling with the feds. Pay them what they say you owe. Would they lie to you?
2. Here's an even better idea. There are a plethora of charities, some of which do good work, and some of which are struggling, that could always use a shot in the arm, an infusion of quick, ready cash, hell, a respected spokesman (note, better move fast on that one).
Just a few I can think of off the top of my head. Salvation Army, ASPCA, Boys And Girls Club, Make A Wish, Children's Hospital, The Red Cross, The Boy Scouts.
Granted, not all charities are good, some have a mixed record, some are wasteful of their donations. You can ferret those out, I'm sure. Even the worst of them couldn't be any more wasteful than the federal government.
But of course, Warren Buffett couldn't care less about fairness and government efficiency. There's something else up, and you can bet the main beneficiary, in the long run, will always be Warren Buffett.