Green Room

Warren Buffett: Tax hikes on the rich would be a “morale” boost for the middle class

posted at 1:16 pm on November 28, 2012 by

Liberals regularly insist that their obsession with (job-killing, drop-in-the-deficit-bucket) tax increases on “the rich” has nothing to do with a political strategy centered around class envy.  Perish the thought.  Quoth a certain sitting president, “this is not class warfare; it’s math.”  Over to you, Warren Buffett:

MATT LAUER, TODAY: So bottom line, would raising taxes on the wealthiest Americans have a chilling effect on hiring in this country?

WARREN BUFFETT: No, and I think would have a great effect in terms of the morale of the middle class, who have seen themselves paying high payroll taxes, income taxes. And then they watch guys like me end up paying a rate that’s below that, you know, paid by the people in my office.

A moment of clarity.   Here we have the man after whom the White House’s precious “Buffett Rule” is named letting the truth slip about what’s really at play.  Conservatives have long argued that the Buffett Rule’s trifling impact on revenues and deficits render it useless as a serious policy proposition.  Not so, Democrats indignantly counter, even as they oddly decline to discuss the — ahem — math behind it.  But Buffett himself is essentially conceding the point that actual arithmetic is immaterial in this debate; increasing taxes on wealthy families and successful small businesses is really about making another group of people feel better, if temporarily.  In 2008, Barack Obama famously told Charlie Gibson that he’d favor capital gains tax hikes on the rich even if it resulted in the government taking in less revenue.  Why?  ”Fairness,” he explained.  These proposals have never been about “math” at all.  They’ve always been about satisfying an insatiable lefty fetish, practical outcomes be damned.  But remember, Republicans represent the party of rigid dogma, and Democrats inhabit the “reality based community.”

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Get the kulaks!

steebo77 on November 28, 2012 at 1:19 PM

If you get a boost from the punishing of others, please move to France. You are not needed. My life does NOT get better by taking things away from others. And Buffett you are the biggest hypocrite. You want to pay more, then pay more you whiney b!tch.

Flange on November 28, 2012 at 1:25 PM

Yeah, you know I do feel better knowing that my burden hasn’t changed at all, but at least the family next door has to pay more now! That shows them!

What? Why should I feel any better, I’m not getting a break.

John_Locke on November 28, 2012 at 1:28 PM

What the hell does he know about the middle class? I’m sure middle class people who have recently lost jobs will get a big moral boost out of knowing that job creators will soon have less money available to invest in creating jobs. Yeah, that’s the ticket!

dczombie on November 28, 2012 at 1:30 PM

He’s right. This isn’t about revenue, it’s about punishing people that have more out of resentment, and nothing more.

As for Buffett, he’s just another hypocritical useful idiot that loves the attention. Write a bigger check to the gov’t, Warren, and stfu otherwise.

changer1701 on November 28, 2012 at 1:32 PM

This is the confession of the degraded state of their own morals and hearts. They advocate sticking it to others so that some might ‘feel better’.

Bunch of children.

tom daschle concerned on November 28, 2012 at 1:34 PM

Buffet is a useful idiot.

And he is living proof you don’t have to be particularly bright to make a lot of money. You just need to know how to make money by investing in failing businesses. It’s okay when Warren does it. But when Romney did it he was an evil greedy selfish capitalist.

farsighted on November 28, 2012 at 1:35 PM

Buffet and his ilk consider themselves the American aristocracy. They don’t want any entrepreneurial prole gaining success through hard work and good decision making and thinking that he is as good as the self appointed aristocracy. Oh no. Those bourgeois scum need to be kept in their place. Because that’s who these taxes hurt. The people who want to be rich, not the people who already are rich. Scumbag.

besser tot als rot on November 28, 2012 at 1:36 PM

These proposals have never been about “math” at all. They’ve always been about satisfying an insatiable lefty fetish, practical outcomes be damned. But remember, Republicans represent the party of rigid dogma, and Democrats inhabit the “reality based community.”

The “reality based community” they inhabit is one in which the reality is Americans can no longer do basic math. It is a reality they created by controlling the public educational system and dumbing down the population.

farsighted on November 28, 2012 at 1:39 PM

I suspect that young Warren Buffett would hate old Warren Buffett’s guts.

besser tot als rot on November 28, 2012 at 1:40 PM

Wow.

I guess if you’re a billionaire you can get some really good drugs.

Imagine the morale boost to the middle class if the 47% who don’t pay federal taxes suddenly had to.

BobMbx on November 28, 2012 at 1:41 PM

If you get a boost from the punishing of others, please move to France. You are not needed. My life does NOT get better by taking things away from others. And Buffett you are the biggest hypocrite. You want to pay more, then pay more you whiney b!tch.

Flange on November 28, 2012 at 1:25 PM

I’d call it a draw if he’d simply pay what he already owes instead of using his army of lawyers to reduce his corporate tax bill.

Buffet: Not walking the walk.

BobMbx on November 28, 2012 at 1:43 PM

Ya know…
Even in the depths of her Alzheimer’s, My mother had a better understanding of economics than this guy.

Well, that’s not necessarily true. Buffett may actually understand this stuff, but the crap he dribbles out for public consumption is only to advance the 0bama agenda, and maybe to further line his pockets with taxpayer money.

LegendHasIt on November 28, 2012 at 1:45 PM

Proof that you do not need to be intelligent to get rich.

The Notorious G.O.P on November 28, 2012 at 1:47 PM

Well, that’s not necessarily true. Buffett may actually understand this stuff, but the crap he dribbles out for public consumption is only to advance the 0bama agenda, and maybe to further line his pockets with taxpayer money.

LegendHasIt on November 28, 2012 at 1:45 PM

Proof that you do not need to be intelligent to get rich.

The Notorious G.O.P on November 28, 2012 at 1:47 PM

He’s already made his. This stuff doesn’t matter to him anymore. All that he wants to do now is make sure that his position in the aristocracy is not diluted with any icky “new money” proles.

besser tot als rot on November 28, 2012 at 1:53 PM

So here you have it… Increasing the taxes on the rich does not have any positive impact but it will statisfy the hate and envy of many… But we already knew that, now the socialists are admitting it… And yes Buffet and many other Limousine liberals are socialists who want to be the only rich people and prevent other people from becoming rich…

mnjg on November 28, 2012 at 2:01 PM

BobMbx on November 28, 2012 at 1:43 PM

You’re more generous than I. I’ll call it a draw if he spends time in jail for owing the IRS anything. Then 50% of his wealth taken from him, because that’s what he wants. And if I could, I’d then deport him to France where they’ll take the rest of it.

Flange on November 28, 2012 at 2:17 PM

Yes! Morale!

99 weeks of unemployment, but at least that rich guy paid an additional 3% in taxes!

The Schaef on November 28, 2012 at 2:24 PM

Taking all of Warren’s money and leaving him in the streets of Gaza would be a morale booster.

LoganSix on November 28, 2012 at 2:33 PM

Tax hikes on the rich would be a “morale” boost for the middle class

Soon to be offset by a pink slip.

antipc on November 28, 2012 at 2:34 PM

Buffet is a useful idiot.

farsighted on November 28, 2012 at 1:35 PM

FIFY

psrch on November 28, 2012 at 2:34 PM

Uh…people are already punished enough across the board when it comes to working folks.

This urge to punish the productive is starting to verge on Sadism…deriving pleasure from seeing others in pain is something the Marquis would certainly support.

CorporatePiggy on November 28, 2012 at 2:36 PM

Taking all of Warren’s money and leaving him in the streets of Gaza would be a morale booster.

LoganSix on November 28, 2012 at 2:33 PM

I think I understand it now because just the thought of Buffett broke and selling pencils on the streets of Gaza put a big smile on my face.

Ditkaca on November 28, 2012 at 2:52 PM

The only people who would get a “morale boost” from the tax hikes are the entitlement-minded leeches who re-elected President Nothing.

Sterling Holobyte on November 28, 2012 at 2:54 PM

Taking all of Warren’s money and leaving him in the streets of Gaza would be a morale booster.

LoganSix on November 28, 2012 at 2:33 PM

Soro’s joining Warren would be even better.

TulsAmerican on November 28, 2012 at 3:01 PM

I think I understand it now because just the thought of Buffett broke and selling pencils on the streets of Gaza put a big smile on my face.

Ditkaca on November 28, 2012 at 2:52 PM

Now, just think of what he had to do in order to get those pencils.

Some banjo music might in order.

LoganSix on November 28, 2012 at 3:02 PM

The Joy Of Hate.

Greg Gutfield sums it up perfectly: there is no bigger endorphin rush.

logis on November 28, 2012 at 3:03 PM

The very model of a modern useful idiot.

321mdl on November 28, 2012 at 3:09 PM

How come nobody ever mentions that Buffett has no morals?

We all know about his companies fighting paying $Billions in taxes, but I’ve been told from numerous trustworthy sources in NE that it’s commonly known that he has had a mistress on the side for 30 years in Omaha. Paying for everything for her,etc…Sorry that’s not something a noble man would do and if it’s widely known around town/state it should’ve been reported by now because this douche is trying to act like a moral wiseman to raise taxes, hurt the economy, but help his own business interests. It’s sickening.

jaygatz33 on November 28, 2012 at 4:07 PM

You know what would really be a moral boost for the middle class? JOBS.

Blake on November 28, 2012 at 5:50 PM

Why doesn’t Buffet donate a few billion to the IRS? He won’t miss it, and that would take care of the amount that hiking taxes on the rich would do.

Buffet has a big mouth, let him show us that he’s willing to pay by donating it to the IRS. Show us the money Buffet!

carolt2 on November 28, 2012 at 7:18 PM