A Winning Idea

I’ve always been suspicious when one’s ideology matches perfectly with one’s self interest. Do you really think in such a case that this ideology won out fairly in the great battle of ideas? More likely there was no battle at all. I have no respect for the Me Party, with their shouts of my rights and your responsibilities. So when I see someone promoting responsibility and fairness over self-interest, I take notice of such an increasingly rare event. Thus, with his recent New York Times editorial, I have one more reason to respect Warren Buffett.

4 thoughts on “A Winning Idea”

  1. I would have more respect for Mr Buffett if he put his money where his mouth is – like all taxpayers, he is free to give as much money as he wants to the Federal Government, but he chooses not to.

  2. The opposing point of view to Mr Buffett:

    Wall Street Journal op-ed, My Response to Buffett And Obama, by Harvey Golub:
    Over the years, I have paid a significant portion of my income to the various federal, state and local jurisdictions in which I have lived, and I deeply resent that President Obama has decided that I don’t need all the money I’ve not paid in taxes over the years, or that I should leave less for my children and grandchildren and give more to him to spend as he thinks fit. I also resent that Warren Buffett and others who have created massive wealth for themselves think I’m "coddled" because they believe they should pay more in taxes. I certainly don’t feel "coddled" because these various governments have not imposed a higher income tax. After all, I did earn it. …
    Others could pay higher taxes if they choose. They could voluntarily write a check or they could advocate that their gifts to foundations should be made with after-tax dollars and not be deductible. They could also pay higher taxes if they were not allowed to set up foundations to avoid capital gains and estate taxes.
    What gets me most upset is two other things about this argument: the unfair way taxes are collected, and the violation of the implicit social contract between me and my government that my taxes will be spent—effectively and efficiently—on purposes that support the general needs of the country. Before you call me greedy, make sure you operate fairly on both fronts.
    Today, top earners—the 250,000 people who earn $1 million or more—pay 20% of all income taxes, and the 3% who earn more than $200,000 pay almost half. Almost half of all filers pay no income taxes at all. Clearly they earn less and should pay less. But they should pay something and have a stake in our government spending their money too.
    In addition, the extraordinarily complex tax code is replete with favors to various interest groups and industries, favors granted by politicians seeking to retain power. … Governments have an obligation to spend our tax money on programs that work. They fail at this fundamental task. …
    Here’s my message: Before you "ask" for more tax money from me and others, raise the $2.2 trillion you already collect each year more fairly and spend it more wisely. Then you’ll need less of my money.

  3. I find Golub’s arguments unconvincing on many levels. He makes three arguments:

    1. No one has a right to call for higher taxes that would impact themselves, because they can always donate money to the government.

    I guess that means I am free to call for higher taxes on people other than myself – that must be the moral high ground for Golub.

    2. Rich people are taxed enough.

    This stale argument is always accompanied by statistics designed to distort. Note that Golub only sites income taxes, not payroll taxes (the vast majority of which are paid by low income earners), sales tax, etc. Also, would you prefer a system where the highest income earners DIDN’T pay a bigger share of the tax burden? What share is fair? Golub makes no proposal. IS he claiming that the rich are overtaxed in America today?

    3. I won’t support higher taxes unless I approve of every penny the government spends.

    Please. This point is too lame to even comment on.

    Overall, I find Harvey Golub’s attitude completely typical in America – it’s all about me.

  4. They fail at this fundamental task. …
    Here’s my message: Before you "ask" for more tax money from me and others, raise the $2.2 trillion you already collect each year more fairly and spend it more wisely. Then you’ll need less of my money.

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