God bless Warren Buffet
Oct 14, 2011, 8:54 AM | Updated: 9:13 am
Listen to Dave Ross Commentary: God bless Warren Buffet.
At the Occupy Seattle protest last night, I saw this on this live stream – a young girl being interviewed:
Woman: Cleo would you like to say hello to the world?
Cleo: Hello world.
Woman: And why are you here?
Cleo: To fight the corporate a–holes.
Whoa, whoa Cleo. I didn’t think you learned language like that until middle school!
And yet I’ll bet not even she would say that about one corporate giant, that being Warren Buffet: who is now challenging his ultra-rich buddies to release their tax returns.
God Bless Warren Buffet – willing to pay more income tax for the sake of us all. But raising Warren Buffet’s income tax will do zero to close the income gap in America. Because the issue isn’t INCOME – he wouldn’t care if his income tax was 100% – the issue is WEALTH!
It’s the sheer amount that he owns! In his case, around $47 billion.
Think about it this way. $10 million would be a pretty good retirement fund, right? You could get by with that, right? You’d be set.
To get Warren Buffet’s wealth down to $10 million would require confiscating 99.99979% of everything he owns. Which is NEVER going to happen!
That’s why income taxes won’t touch the wealth gap. You would have to change a system that lets one person accumulate that amount to begin with. Which won’t happen either because Warren Buffet is just so affable. It would be like stealing grandpa’s slippers.
-
Tune in to KIRO Newsradio weekdays at 5am for Dave Ross on Seattle's Morning News.
