Do you remember when reporters used to ask tough, probing questions in an effort to get to the bottom of the issue of the day, rather than simply regurgitating the talking points they are fed? Today, however, the media unquestioningly repeats the President’s mantra as established fact, never bothering to raise the glaring questions to the source of those claims, Warren Buffet.
There are so many questions which need to be asked about Buffett’s claim that his secretary pays a higher tax rate than he does.
Mr. Buffet, who exactly is your secretary and what percentage of her income does she pay in Federal income taxes? What would her tax bill be if she hired your team of accountants and tax attorneys to fight the IRS on her behalf? How is your secretary’s income tax equivalent to your capital gains taxes paid on growth of money you have already paid income taxes on?
Mr. Buffett, if you believe that you should pay more in taxes, why did you spend the last decade fighting to avoid paying a billion dollars in back taxes?
Mr. Buffett, exactly how much do you feel you should pay in taxes, and why have you not voluntarily contributed that amount to the Federal Treasury? They do accept donations.
More important than probing into the untruthfulness and hypocrisy of Warren Buffett’s claim is a query into the flawed philosophical assumptions behind it.
Mr. Buffett, does a nation become more prosperous because of bigger government or more private sector investment?
Mr. Buffett, who is responsible for creating more jobs, you or your secretary? Who is responsible for creating more wealth, you or your secretary? Can you name one poor person who has brought prosperity to more people than you have? Can you name one government entitlement program which has produced more innovation, more goods and services increasing the mean standard of living more than you have by your investments in American corporations?
Mr. Buffett, your claim that the rich should pay higher taxes is being used by the President to support raising taxes to pay for his stimulus bill. Does the economy benefit more from you investing your money in growing, profitable businesses or from the government taking your money and distributing it to failing companies such as Solyndra? Do the companies you invest your own money in create more jobs than Solyndra? Which are the better criteria to determine which companies will most effectively use the money they receive to create jobs and boost the economy: a solid business model producing profitability and growth potential, or political cronyism?
Mr. Buffett, if the government confiscated all of your wealth and distributed it equally to every American citizen, giving every American roughly $127, how many jobs would we create with our $127?
Mr. Buffett, you are famous for earning a consistently high return on investment. What is the return on investment of the Federal Government?
Mr. Buffett, if the government confiscated 100% of your income from last year, would the deficit be reduced by even one one-hundredth of a percent?
Mr. Buffett, you have pledged to give 99 percent of your wealth to charity. Why do you think that money confiscated from you by the government will do more good for mankind than if you gave it to a charity of your choice?
Mr. Buffett, in a free market economy where buying and selling transactions are voluntary, the only way to make a profit is to produce goods or services which are worth more to the buyer than the price for which you sell them. Thus earning a higher income indicates that you have produced more value for more people than someone who did not earn as much. Why should producing more value be punished by higher taxes?
Mr. Buffett, did you invest your money in Solyndra? Why not? If you determined that Solyndra was not a good investment, why would you want the government to take your money and give it to Solyndra?
Mr. Buffett, the President's first stimulus bill spent nearly a trillion dollars and cost $412,500 per job created, and two years later, unemployment is higher than it was before the stimulus. Would you invest in a company which produced that kind of return on investment?If not, why would you want to pay more taxes for the wasteful Federal Government to squander?