I found this quite interesting when I stumbled across it a couple of days ago. What Warren fails to point out is that he’ll never pay a dime in taxes on his $50 billion. It’s sheltered (Gates foundation, primarily). Seems he doesn’t trust the government with his (real) money anymore than the rest. He’s really quite a pompous ass. I’ve got mine, screw the rest of you. And what kind of a billionaire jerk pays his secretary $60k?

There’s way more to this story wrt to Buffet and his support for the death tax, for example. Suffice to say that that his insurance holdings are some of the prime beneficiaries of the current law. They sell enormously profitable annuities which allow the transfer of assets tax free to the beneficiaries. Problem is, you can’t annuitize a family farm or business, but he doesn’t care. The status quo works for him.

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Poor Warren Buffett … may be he should instruct his tax accountants and tax attorneys not to shelter his earnings and assets so he can pay more taxes than his secretary.

Even better, he can contribute to my retirement so I wouldn’t have to worry about it. Much better, he can contribute to everyone’s retirement so that we all don’t have to worry.

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Its about Victimhood and Dependency.

Here’s the four steps to Democrats Rule
1) Tell everyone they are a victim in one form or another
2) Tell them that the government is the only one able to save them
3) Tell them that Democrats are the only ones willing to save them and the Republicans are deliberately neglecting them
4) Give out some handouts or pass some regulation that will exist perpetually. Never attempt as a one-time fix. This will create Dependency.

The reason you need to tell them they are a victims is that Americans have a heritage of self-reliance. They resist taking handouts. (or used to). Telling them they’ve been wronged and this is compensation will help cut through that heritage.

Once you get them on the pogy many will become Dependant on it. You will have an adherent for life. Dependency = Control. People become hesitant to bite the hand that feeds them.

Unfortunately I think we’ve reached critical mass. I also think the school system and media has also helped eliminate our heritage of self-reliance. You can see this by the elevation & celebration of the victim over the self-reliant or even the heroic.

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Trackbacked by The Thunder Run – Web Reconnaissance for 07/03/2007
A short recon of what’s out there that might draw your attention, updated throughout the day…so check back often.

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Another way you _might_ come up with that figure is if the secretary’s husband makes the 120K, and her 60K results in an increase of taxes so that effectively – since her income is an add on and starts being taxed at the level her husband’s stops – she is paying nearly 30%(and of course, he’d round up).

I worked for H&R Block in the state of Virginia many long years ago, and Va -at least at that time – allowed a couple to separate out their income and taxed each from 0. Most people were put off doing this by the two columns – didn’t know what to do with them – and as a result, Block could advertise that they guaranteed better returns on past taxes. Usually worked.
Federal tax does not allow this – the tax is cumulative. Two income families would get an immediate tax reduction if this feature was changed on the 1040 form.

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Buffet fails to point out that he can pay more money to the government. He could buy government bonds and then never collect. He could also write a check to the federal government or any state or city government. He could send money directly into paying off the national debt by sending money to:
Attn Dept G
Bureau Of the Public Debt
P. O. Box 2188
Parkersburg, WV 26106-2188

$2.27 million has already been sent there in 2007. Maybe he could send in $2.27 billion.

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