10 Reasons Why Warren Buffet Should Be Ignored on Tax Policy
Warren Buffet, one of the richest men on the planet, loves to dictate what tax policy should be to everyone. Here are ten reasons why he should be ignored about tax policy, and really everything else in life except getting rich.
1. Buffet is a Billionaire, One of Richest Men on the Planet
Never trust a billionaire. People do not become billionaires by being altruistic.
2. Buffet Comes from Privileged Background
Warren Buffet was born into a privileged background. His father was a United States Congressman, and the family had many wealthy and influential friends and acquaintances. Do not trust someone who has not known financial hardship at some point in their life to dictate tax policy.
3. Buffet Has Spent Whole Life Avoiding Taxes
Buffet is a billionaire, but only pays himself a salary of $100,000 dollars a year. Do not be fooled by this. When Buffet wants money, he sells shares in his company, Berkshire Hathaway, and then he only pays the 15% capital gains tax on his money vs the 35% or more he would pay on ordinary income. He could care less if the income tax goes up, he avoids paying it.
4. Buffet's Goal in Life is To Be Richest Man in the World
Someone who wants to be the richest man on the planet is mentally ill. Plain and simple. Someone like that is never going to look up at the stars and wonder why we are here.
5. Buffet Wants to Avoid Paying Taxes Even After He is Gone
When Warren Buffet passes away, the vast majority of his money will go to charitable organizations. Altruistic on the surface, but by giving his money to charity, Buffet again avoids paying tax on the money. In this case the inheritance tax. Buffet himself does not trust the government, but wants Other people to pay higher taxes.
6. Buffet Does Not Trust His Own Children
By giving his money away to charity, Buffet is also showing a complete lack of faith in his own kids. Charitable organizations are not going to use Buffet's money to fund start-up companies and build businesses that will create jobs and innovate the way things work.
If Buffet left his money to his kids, they would likely use some of the money to fund start-ups, and that creates jobs and companies.
Andrew Mellon used his vast inheritance to fund start-ups and build some 50 businesses. Many of those businesses are still in existence today, employing millions of people around the world.
7. Warren Buffet is Mr. Potter from It's a Wonderful Life
You know the Jimmy Stewart Christmas movie, It's a Wonderful Life? The Mr. Potter character, played by Lionel Barrymore, is who Warren Buffet really is. Buffet tries to present a wholesome folksy image, but don't be fooled. He wants the economy to tank so he can use his money to take assets from you at panic induced prices.
That's how Buffet built most of his wealth. Buying assets off panicked people during stock market sell-offs.
A man whose sole goal in life is to be the richest man in the world should never be trusted.
8. Buffet Believes He is Better Than Most People
Warren Buffet is always talking about class warfare between the rich and the poor. To Buffet, other people are not human beings, they are either rich people or poor people. That's all he sees. He is an egalitarian to the max. Never trust someone who only judges other people by how much money they have.
9. There is More to Life Than Money
Buffet's whole life is all about money. There is more to life than just money. Never trust someone whose whole life is about money. Such people are only thinking of themselves.
10. Warren Buffet is a Billionaire
For more see US Economy Will Mirror Japan Until Federal Reserve Raises Interest Rates
Is Silver Still a Good Investment?
Mark Haines Cause of Death Finally Released
How the Federal Reserve Caused WW II
How the Federal Reserve Caused the Great Depression
Why Congress Created the Federal Reserve
1. Buffet is a Billionaire, One of Richest Men on the Planet
Never trust a billionaire. People do not become billionaires by being altruistic.
2. Buffet Comes from Privileged Background
Warren Buffet was born into a privileged background. His father was a United States Congressman, and the family had many wealthy and influential friends and acquaintances. Do not trust someone who has not known financial hardship at some point in their life to dictate tax policy.
3. Buffet Has Spent Whole Life Avoiding Taxes
Buffet is a billionaire, but only pays himself a salary of $100,000 dollars a year. Do not be fooled by this. When Buffet wants money, he sells shares in his company, Berkshire Hathaway, and then he only pays the 15% capital gains tax on his money vs the 35% or more he would pay on ordinary income. He could care less if the income tax goes up, he avoids paying it.
4. Buffet's Goal in Life is To Be Richest Man in the World
Someone who wants to be the richest man on the planet is mentally ill. Plain and simple. Someone like that is never going to look up at the stars and wonder why we are here.
5. Buffet Wants to Avoid Paying Taxes Even After He is Gone
When Warren Buffet passes away, the vast majority of his money will go to charitable organizations. Altruistic on the surface, but by giving his money to charity, Buffet again avoids paying tax on the money. In this case the inheritance tax. Buffet himself does not trust the government, but wants Other people to pay higher taxes.
6. Buffet Does Not Trust His Own Children
By giving his money away to charity, Buffet is also showing a complete lack of faith in his own kids. Charitable organizations are not going to use Buffet's money to fund start-up companies and build businesses that will create jobs and innovate the way things work.
If Buffet left his money to his kids, they would likely use some of the money to fund start-ups, and that creates jobs and companies.
Andrew Mellon used his vast inheritance to fund start-ups and build some 50 businesses. Many of those businesses are still in existence today, employing millions of people around the world.
7. Warren Buffet is Mr. Potter from It's a Wonderful Life
You know the Jimmy Stewart Christmas movie, It's a Wonderful Life? The Mr. Potter character, played by Lionel Barrymore, is who Warren Buffet really is. Buffet tries to present a wholesome folksy image, but don't be fooled. He wants the economy to tank so he can use his money to take assets from you at panic induced prices.
That's how Buffet built most of his wealth. Buying assets off panicked people during stock market sell-offs.
A man whose sole goal in life is to be the richest man in the world should never be trusted.
8. Buffet Believes He is Better Than Most People
Warren Buffet is always talking about class warfare between the rich and the poor. To Buffet, other people are not human beings, they are either rich people or poor people. That's all he sees. He is an egalitarian to the max. Never trust someone who only judges other people by how much money they have.
9. There is More to Life Than Money
Buffet's whole life is all about money. There is more to life than just money. Never trust someone whose whole life is about money. Such people are only thinking of themselves.
10. Warren Buffet is a Billionaire
For more see US Economy Will Mirror Japan Until Federal Reserve Raises Interest Rates
Is Silver Still a Good Investment?
Mark Haines Cause of Death Finally Released
How the Federal Reserve Caused WW II
How the Federal Reserve Caused the Great Depression
Why Congress Created the Federal Reserve
Published by Joe Dorish
Joe Dorish is a writer who lives in the NYC area. He writes primarily about the things he is passionate about - sports, business, economics, weather and travel. He loves to drive and used to own a Limo company. View profile
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2 Comments
Post a CommentSome people will write anything just to have a job. In my home state, New Jersey, which I believe is Mr. Dorish's also, there is a disturbingly glaring income gap between rich and poor. But people like Joe don't seem to mind golfing five miles away from one of the poorest neighborhoods in the country. Truth is they just don't care. Keep vomiting coffee grounds, Joe.
This is the dumbest thing I've ever read. I was interested in what you had to say, but it turns out you have nothing factual to say. Just take an accounting course and do the numbers; you will understand Warren Buffet's point of view. Or go ahead and keep spewing off this propaganda that keeps the rich rich and keeps the poor poor. Or pay more income tax than the rich because you don't understand math.