Thursday, October 6, 2011

Should Obama Continue To Use Warren Buffett As His Symbol To Raise Taxes?

Sure ... it's the best symbol because the President's logic on the taxing issue is flawed.

Mr. Buffett should continue to be the symbol of why he and the President are calling for higher taxes - don't ask someone to do something you're not willing to do yourself. Asking someone to pay higher taxes - yet fighting tooth and nail when you / your company is asked to pay higher taxes - doesn't make sense.

Instead, the folks in Washington should be following the Constitution, getting rid of job crushing regulations, providing certainty in the private sector and tax incentives for work ethic, success, savings, marriage and charitable contributions in the private sector. But do not take my word for it, read up on Nobel prize winner Milton Friedman.

In the end Mr. Buffet made himself and many people very rich by careful investment in business in his country. A lot of tax was paid on that money and what was not paid in tax was re-invested into businesses in his country - creating jobs and more income and more taxes.

It is easy for a politician to point fingers. And often those who are simply envious of a man's success start to sound like jackals as they complain about his success.

Picking on the rich tends to drive money and investment out of the country.

If Obama wanted to make things start happening maybe he should actually start looking at how successful business becomes and stays successful.

No government can give to someone without taking from someone else.

When the well goes dry people will go thirsty.