Thursday, August 25, 2011

With respect to Warren Buffett, should anyone listen to his politics?

A great comment on Free Republic, which I will summarize here:
  • Berkshire's origins lie in manufacturing, which was phased out when Buffett took over.
  • Berkshire's acquisitions were structured in such a way as to minimize taxes. 
  • Buffett would boast about his ability to foil the tax man.
  • Carlos Slim said Buffett and Gates should increase [manufacturing] jobs instead of giving away money.  [comment: I should point out that it is better to teach a man to fish than to give him a fish.] 
What more do you have to say?  Buffett is only saying "tax me more" in order to curry political favor.  He is not interested in paying more taxes.  Actions speak louder than words.

No comments: