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Author: twopairfullhouse Big gold star, 5000 posts Top Recommended Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 750403  
Subject: Re: Why Warren Buffett is wrong about taxes Date: 12/18/2012 10:48 AM
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No, but it sure seems like he thinks it is actually a good thing for the country.

Pretty much everyone not named Barack Obama agrees that paying down our national debt would be a good thing for the country. And pretty much everyone would agree that we have to have tax revenue to do that, and there are many on both sides of the aisle that are willing to tighten their belt and do their patriotic duty. But the problem is that paying more taxes without cutting spending will not solve the problem. Our debt will continue to grow with only a small change in the rate of growth.

The fact that Buffett has only been on the side of the debate helping Obama (i.e., 'we need to raise taxes on the rich'), when, if he wanted to actually solve the problem would tell the whole truth (i.e., 'we need to also cut spending'), should tell you all you need to know about his motivation. He knows his way around a balance sheet and an income statement as much as anyone ever has, and the U.S. Government balance sheet and income statement are a fricking train wreck. He knows this, yet he confines his remarks to only those that help Obama. Buffett is many things, but a statesman is not one of them.
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