Why doesn't Buffet pay taxes he owes?
President Obama, purporting to help America by increasing taxation on people who make over $1 million a year, is asking us to agree to a bill, named after Warren Buffet, which amounts to another alternative minimum tax, which will have an insignificant effect on the deficit.
Buffet wants the rich to pay more taxes, yet he is spending millions in legal fees to avoid paying close to a billion in his own taxes. He recently invested $5 billion in Bank of America Corp, a company which received $336.1 billion in federal bailout money (from our taxes), and $4 billion in common stock (3Q alone) because, as he said, “the stock is cheap.” Of course, it is cheap because of the Obama economy.
Solyndra wasted $535 million in taxpayer funded loans, and yet the U.S. Dept. of Energy is now investing another $5 billion in solar energy loan guarantees.
Why doesn't Warren Buffet pay the tax he owes and invest the $9 billion in solar energy companies? He could help the economy and lower the deficit in one move. He could also stop feeling so guilty about not paying enough taxes.
Maybe this would show others in his “super rich” club how to act responsibly. But this all makes too much sense. It is easier to promote class warfare while getting richer, as the rest of us pay our taxes and struggle to survive Obama's plan to “fundamentally change America.” I, for one, have seen enough change. It's time to change back.
Joe Nuzzarello
Wheaton