In recent years Warren Buffett has joined the ranks of George Soros as a “righteous” billionaire to millions of frantic Obama supporters preaching wealth redistribution. In his old age, Mr. Buffett has supported raising taxes on the wealthiest Americans who tend to pay lower tax rates than many middle-class citizens. Time and time again Mr. Buffett has pointed out that he does not pay enough taxes. Without trying to dissect whether his contention has merit, it is clear to me that Mr. Buffett’s demonstrative actions to emphasize his point have been quite hypocritical.
Tired of hearing of Mr. Buffett’s low tax rate, many of his detractors have suggested that Mr. Buffett voluntarily send a check to the U.S. government for the conceived shortfall. However, Mr. Buffet dismissed this request for unilateral action and instead offered to match any similar donations by Republican members of Congress. It appears that Mr. Buffett is only willing to do the right thing if others join him in action. This is akin to saying “stealing is horrible and completely reprehensible, but I will not stop stealing unless everyone else also stops.”
Recently, several media outlets have glorified Mr. Buffett for living up to his pledge when he matched Rep. Scott Rigell’s (VA-R) donation of $49,000 to the U.S. government (15% of Rigell's Congressional Salary). The media was awash with praise of Mr. Buffett, yet many such articles ignored a very simple incongruity. If Mr. Buffett believes that he should pay the same percentage of taxes as other Americans, why is he simply matching the dollar amount of Rep. Rigell’s donation? If Mr. Buffett truly wanted to be “fair” (according to his own definition), he would not merely match the dollar amount of Rep. Rigell’s donation, but he would prorate the donation to reflect his significantly higher level of income and net worth. Of course that would mean millions upon millions of dollars, not a measly $49,000 which to Mr. Buffet is like a quarter under the couch cushion.
I don’t know what is motivating Mr. Buffett’s call to action, perhaps it’s a feeling of guilt that stems from a lifetime of financial success (he has amassed a fortune of nearly $40 billion). Maybe it is the desire to leave a positive legacy in the twilight of his life. Regardless of what this driving force might be, it’s unfortunate that Mr. Buffett is only willing to take a stand at the expense of others who do not agree with him. If Mr. Buffett acts as a leader and does the right thing, as he has done with his philanthropic organizations, without asking the same of others, he will earn the positive legacy that he appears to seek.
Tired of hearing of Mr. Buffett’s low tax rate, many of his detractors have suggested that Mr. Buffett voluntarily send a check to the U.S. government for the conceived shortfall. However, Mr. Buffet dismissed this request for unilateral action and instead offered to match any similar donations by Republican members of Congress. It appears that Mr. Buffett is only willing to do the right thing if others join him in action. This is akin to saying “stealing is horrible and completely reprehensible, but I will not stop stealing unless everyone else also stops.”
Recently, several media outlets have glorified Mr. Buffett for living up to his pledge when he matched Rep. Scott Rigell’s (VA-R) donation of $49,000 to the U.S. government (15% of Rigell's Congressional Salary). The media was awash with praise of Mr. Buffett, yet many such articles ignored a very simple incongruity. If Mr. Buffett believes that he should pay the same percentage of taxes as other Americans, why is he simply matching the dollar amount of Rep. Rigell’s donation? If Mr. Buffett truly wanted to be “fair” (according to his own definition), he would not merely match the dollar amount of Rep. Rigell’s donation, but he would prorate the donation to reflect his significantly higher level of income and net worth. Of course that would mean millions upon millions of dollars, not a measly $49,000 which to Mr. Buffet is like a quarter under the couch cushion.
I don’t know what is motivating Mr. Buffett’s call to action, perhaps it’s a feeling of guilt that stems from a lifetime of financial success (he has amassed a fortune of nearly $40 billion). Maybe it is the desire to leave a positive legacy in the twilight of his life. Regardless of what this driving force might be, it’s unfortunate that Mr. Buffett is only willing to take a stand at the expense of others who do not agree with him. If Mr. Buffett acts as a leader and does the right thing, as he has done with his philanthropic organizations, without asking the same of others, he will earn the positive legacy that he appears to seek.
4 comments:
Typical right wing slamming of a man preaching common sense ;)
Quite the opposite I am explaining how his actions do not line up with his own liberal view. He should donate 15% of his income rather than merely match the $49k that he did, I would respect that, but I'd respect him even more if he just decided to donate to the Gov't on his own without waiting for others to do the right thing.
Why should he voluntarily donate before a right wing Republican oil rich oligarch does the same. Being righteous and being a fool are different things
Very simple, because he is the one who is unhappy with paying less than what he believes he should be paying. Since he is pushing the agenda, he should lead by example, like I said in the post waiting for people who don't agree with him to pay is "akin to saying stealing is horrible and completely reprehensible, but I will not stop stealing unless everyone else also stops.” True leaders lead by example.
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