Monday, August 22, 2011

Warren Buffett - Financially Ignorant

Billionaire Warren Buffett made big news last week claiming that he and his rich kin needed to be taxed more thoroughly.  Unfortunately, Warren suffers from a nasty case of alligator arms that prevents him from reaching his checkbook and resolving this perceived shortfall himself.  While the IRS would gladly accept Mr. Buffett's donation, he chooses instead to lead by oration instead of by actions.

Hmm, leading by oration...where have we heard that before?

Beyond his cowardly boast, Mr. Buffett also has little knowledge of what a substantive increase of taxes on the super rich would mean for the financial prospects of the US.  Via the comes this thorough analysis that even taxing the super rich by 100% will do diddly squat to curing our financial woes:

For the fourteen trillionth time (see what I did there?), we have a spending problem, not a taxing problem.  It is as clear as can be. 

Stop.  Freaking.  Spending.

Why the hell can't a billionaire and supposed financial maven like Buffett figure it out?

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