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Archive for September 21st, 2011

Warren Buffett: Great investor, lousy economist

21 Sep

The Oracle of Omaha is at it again.  Instead of doing what he does best, make money for his shareholders, Mr. Buffett is complaining that rich folks like him do not pay enough taxes to support the welfare-warfare state.  Of course, Mr. Buffett did not say that exactly, but that is the implication of his August 14, New York Times op-ed calling for the federal government to stop “coddling” billionaires like him and raise taxes on the mega rich.  President Obama has taken Buffett’s ideas about taxing the rich to make it a central initiative in his plan to reduce the deficit over the next ten years.

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Posted in Federal Government, Federal Reserve, Warfare state, Welfare state