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.”

Recently in the Green Room:


HotAir — Politics, Culture, Media, 2017, Breaking News from a conservative viewpoint
Top Pick

“I hope to encourage them to take personal responsibility…”

“I ain’t serving no police”

“I think a lot of Trump’s voters have as one of their primary objectives just stopping the cultural corruption that’s taking place.”

“Don’t take away my health care or you die.”

“We must all do our best to get rid of this tyrant.”

Rosenstein: Comey broke with DoJ norms on memo leak.

“Nobody has ever accused me of pulling any weapon on them.”

“Fourteen people had stab wounds, cuts and bruises, with two of the injured surviving critical stab wounds.”

Okay… you first.

“We should repeal it and replace, and we shouldn’t leave town until this is complete.”

“He feels like he is being thrown under the bus …”

“McCain has always been a fighter”

Ed Morrissey Jul 20, 2017 8:41 AM

“Cancer doesn’t know what it’s up against.”

They may be on to something

How capitalism averted the bee-pocalypse

John Sexton Jul 19, 2017 9:31 PM

“there are more honeybee colonies in the country today than in nearly 25 years.”

CBO releases estimate on Obamacare repeal

John Sexton Jul 19, 2017 8:31 PM

“The number of people who are uninsured would increase by 17 million in 2018, compared with the number under current law.”

Kasich: Fix Obamacare with more spending

Jason Hart Jul 19, 2017 8:01 PM

Ohio Gov. John Kasich wants Congress to “fix” Obamacare’s insurance exchanges with more federal spending

“This is a momentous decision.”

“One was told that she—her skin was too light and that she needed to listen to people of darker colored skin…”


Time off without pay for play

The new DOJ guidelines on asset forfeiture are obscene

Taylor Millard Jul 19, 2017 5:01 PM

Guilty until proven innocent.

“We’re just wondering what happened there.”

“This is an attempt at a political intervention.”

The blame game

“Inaction is not an option.”

“You have no feelings. You Christians are all racists.”