Is Chris Christie right about Warren Buffett?
During the financial crisis in September 2008 and the ensuing wave of bipartisan bailouts, Buffett was routinely treated as an almost impartial voice of wisdom and calm, advocating the Troubled Assets Relief Program (TARP), the stimulus, a mortgage-restructuring plan, and increased spending on high speed rail. Left out of most press accounts: ** He profited enormously from every one of these programs.**
Earlier this month, an Obama administration foreclosure settlement increased the potential value of Buffett's Bank of America holdings by $154 million in a single day. **The man who has become the left's favorite billionaire in the service of bashing plutocrats could be perceived as the single most successful crony capitalist in the country.**
It's worth noting that **Buffett has profited one hell of a lot more than the country that was supposed to benefit from all these Buffett-approved bailouts and stimuli. He gets billions; we get a big coulda-been-worse!** Meanwhile, even the sitting treasury secretary acknowledges that the country's fiscal trajectory is "unsustainable," with no solution in sight to the bailout-exacerbated problems of debt and entitlement-commitments.
I'm not one who thinks that Warren Buffett needs to write a $10 billion check to the government in order to prove his policy sincerity. But it is worth noting that his big 2006 media breakthrough came not by pledging his fortune to the U.S. Treasury, but to private charity. It's clear which vehicle he finds the most effective use of his personal money.
Which suggests an ultimate test for raising the federal tax burden in a way pleasing to Warren Buffett, Barack Obama, and most of the fourth estate: **Are we currently getting our $3.8 trillion worth of services? Has the rapidly increasing price tag of government -- from $1.9 trillion in Bill Clinton's last proposed budget -- come with a commensurate increase in quality?**
**If not, then we need to be cutting and improving government, not having it swallow up more of the private sector.** If so, then that's an argument the media should be having, instead of just uncritically high-fiving a billionaire with massive vested interests.
Side Score: 6
Side Score: 7
Warren Buffet is the biggest and wealthiest crony capitalist ever.
A railroad largely owned by billionaire Warren Buffett stands to benefit financially from a decision by the Obama administration to reject a major oil pipeline project that would have stretched 1,700 miles south from Canada to refineries in Texas.
Bloomberg News reported Tuesday that Burlington Northern Santa Fe LLC is among U.S. and Canadian railroads that stand to gain from the U.S. State Department’s rejection last week of the Keystone XL pipeline project. Buffett is a long-time political and financial supporter of Obama. NewsRoom America
655 days ago | Side: Yes
Yep. When it's some guy who inherited a fortune and got grandfathered into a firm that that fires people for a living he's called presidential nominee. When it's a self-made billionaire who loves america and appreciates his opportunities and wants to pay his fair share he's a horrible person. Welcome to the republican party.
656 days ago | Side: No
Together Bill Gates and Warren Buffet are some of the greatest charitable forces in the country if not the world giving well over a trillion to charity in the past 50 years, they are self-made billionaire philanthropists, and only two of a handful of billionaires that were actually willing to pay higher taxes for the benefit of the nation.
On the other hand, who the f#ck is Chris Christie?
656 days ago | Side: No
Christie is some ass hole with his own agenda.
But let's focus on the allegation. Has Buffett written the American government a check or was that just talk? He is allowed to pay more money than he owes in taxes. Has he done it? Or is he just talking out his ass in order to get people to support Obama in order to profit from Obama's policies?
Or..., we can focus on the fact that he gives his money to charity instead. Maybe even Buffett realizes that giving money to the U.S. Government is a waste of good money and that private charities would put the money to better use.
655 days ago | Side: No
There are currently two trillion dollars just sitting on government balances that could be put toward creating new jobs, improving infrastructure, and basically getting the U.S. out of it's financial problems. They're too afraid to risk this money and so Buffet's probably not going to give them even more just to sit around and do nothing. He may be profiting from Obama's policies but he's going to give all those profits up so I don't see why he needs an ulterior motive toward helping Obama. Besides he's good friends with Bill Gates so by donating most of his money there, he can be assured that'll be used productively and will benefit society.
655 days ago | Side: No