You would think an individual of Mr. Buffett’s stature would support someone more like Ron Paul, who stands for limited government, sound fiscal policy, and a solid currency. (Congrats to Jim Cramer by the way for his AWESOME 12/14/07 interview with Ron Paul on Mad Money!) – BUT WHY IN THE WORLD WOULD BUFFETT SUPPORT HILLARY CLINTON??!!
Music: “KYA” by Paulus
In a recent interview, Mr. Buffet and Ms. Hillary said they believe that people who are successful and have and make lots of money need to give more money to the government (as if we’re not already giving enough)! Not only is this a ludicrous proposal, but it would hurt the economy tremendously. Just look at how many jobs Mr. Buffett himself has created over the years with the terrific businesses he’s built. Can he really believe – can anyone anywhere truly believe – that the government could spend the money better – and generate more new jobs – than those who earned it in the first place?
Which brings us to the estate / death tax, another area where Mr. Buffet should mind his own business. If he’s so keen on giving more to the government, then why did he defer most of his assets to the Gates Foundation? And taking this a step further, if Mr. Buffet doesn’t believe in “dynastic” wealth, why is he still passing along a cool BILLION dollars to his childrens’ charitable foundations? With access to that kind of money, his kids won’t exactly be roughing it.
As such, his position on dynastic wealth applies to very few, so perhaps he should clarify what it means to be dynastic these days? Having $10 MILLION, $100 MILLION, $1 BILLION? In 2011, the death tax will be back to 55% for anything over $1 MILLION – barely enough to buy a nice Manhattan 1-bedroom apartment these days. Who’s right is it anyway to decide whether any inheritance is good or bad for someone’s own children. Isn’t that a decision that parents — not the government — should have the freedom and responsibility to make?
But supporting Hillary? Here’s an interesting thought, Mr. Buffett. Would you trust her to manage and run your company and all you’ve built? I don’t think so. And if not, then would you really trust her to manage and run the whole country?
[note] Maybe she’ll pay for some of it by putting an end to the Iraq War. Is she for or against it this week?!