Tuesday, November 06, 2007

Silly Warren

Warren Buffet, among the richest people in the world, has declared that he doesn't think he pays enough taxes and that the rich should pay more. As James Tarranto pointed out in Monday's Best of the Web at http://www.opinionjournal.com/, he can always send in money to the "Gifts to the Treasury" address if he wants to pay more. Don't hold your breath.

In fact, Buffet is an excellent example of the "say one thing, do another" culture that makes the sanctimony of the left so amusing and annoying.

Buffet complains that he pays less federal tax, as a percentage of his income, than do any of his employees. No doubt this is true. The reason for this is obvious: Most of his income is either dividends (often not taxed at all) or capital gains, taxed at 15%. Neither of these sources of income is subject to Social Security taxes, which end at $92,500(a much greater percentage of his employees' incomes than his own) anyway. His argument is knowingly misleading. That makes him a liar, not an advocate. What he really should be saying is that he wants you and me to pay more taxes.

The hypocrisy does not end there. A year or two ago he announced that the bulk of his estate would be distributed to charitable foundations before his demise. There is one reason to do this: To avoid estate taxes.

How pathetic.

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