Bam Obuffet Or Buff Obama? You Need To Read To Understand.

Will Someone Please Tell Warren Buffet To Go Away...‏

Is Obama Using Buffett…Or Vice Versa?

Warren Buffet needs to keep quiet, go away…or both. 

Buffet and President Obama are a perfect tag team of self interests with one helping the other to to obtain their goals. Obama wants to get re-elected at any cost and Buffett wants to be richer than he already is.

“It is not fair that Warren Buffet gets to pay a lower tax rate than his secretary” is the class warfare battle cry these days. To the uninformed, which liberals routinely prey on, this sounds like a good idea but we must remind them that Obama is not comparing apples to apples. His secretary is most likely in the 28% income tax bracket while Buffett himself is taxed at the 15% capital gains tax rate. Investment in the private sector creates jobs and these investors need a financial incentive to risk their capital.

So the headline now becomes “Warren Buffet wants Congress to raise taxes on the rich”. Of course he does…the higher the tax rates go the more money he makes! His company, Berkshire Hathaway, sells tax insurance planning products to the rich. And…he has already made his fortune! What more would a super wealthy, billionaire investor like Warren Buffet want than for the Federal government to make it harder for others to catch up to him. Any new legislation written by Congress regarding the raising of the capital gains rate would most likely grandfather in those investments already made and tax any new investment at the new, higher rate. If not, then there would be a massive sell-off on Wall Street to beat the new tax and some of that money will leave our shores and goes to places like India.

For more proof that Buffett is only out for his own wallet look no further than the fight over the estate tax. Most conservatives, like me, are against this tax because, in my opinion, it is unethical and immoral for the government to confiscate someones wealth simply because he or she has stopped breathing. Now if you think that a multi-billionaire investor like Warren Buffet would be staunchly against this tax…you would be wrong!  The death tax is so lucrative for him that his companies actually spend millions lobbying Congress to vote against repealing it because they sell a form of life insurance to the rich to cover the amount of “death” taxes that would be imposed. Buffett also owns NetJets which leases private jets to the rich and large corporations. Did you know that he against Obama’s plan to eliminate the private jet tax break? Hmmmmm….

Obama and big government are actually helping the rich and super-rich retain and acquire more wealth. They have been doing this since the beginning of time and now one of the richest men in the world has a willing partner…our own President!

Blaise Ingoglia, Founder

Government Gone Wild!