Don’t Be a Fool to the Buffet Rule!

Howdy there, folks! I know it has been a while, but I’m back. I’ve gotten a new job and I work all day long all week so my time here has been limited to weekends. Enough of that though; how ya’ been!

Anyway, I wanted to touch on a subject that has exposed the gullibility of a lot of people and I hope my “eloquent rhetoric” can clear some things up.

I’m sure by now you have heard of the Buffet Rule . This is a proposal by Mr. President Obama that would impose a minimum 30% tax rate on those fortunate enough to make one million dollars (or more) a year. It gets its name from super-gazillionaire, Warren Buffet, who recently famously bemoaned the fact that he paid less taxes than his secretary. Many of us praised Mr. Buffet for realizing this and further heaped even more accolades on sir President who has always belched that the rich need to pay their “fair share” in taxes, whatever that means (keep in mind that the top 10% of Americans [i.e. the richest among us] pay a little more than 70% of taxes in this country).

How gullible can we get?

This is why we all need to at least take a course on simple economics. I’ve been hearing for most of my life that the rich are getting richer and the poor are getting poorer; there is a reason for that. The rich are getting smarter about their money while the poor are depending on Big Brother Government for handouts. Warren Buffet isn’t stupid, but he depends on the rest of us to be so we won’t dig deeper into his statement about the rich needing to pay more in taxes.

Mr Buffet gets most of his income from capital gains investments; most of us get our income from salaries and wages. What we need to understand is that investments are taxed at a much lower rate than than salaries and wages. If a person makes his income from investments, law states that after making a certain amount, some of this income needs to be received as a salary. So, in keeping with the law, Mr Buffet receives anywhere from $80,000 to $100,000 a year as salary. His secretary, however, gets all of her income from Mr Buffet in the form of a salary ($400,000 a year), so when it comes to salary, Mr Buffet’s secretary makes more than her boss so, therefore, she is going to be taxed at a higher rate. However, Mr Buffet is somewhat in the clear because he knows his investments are safe because they are not taxed at the same rate as his salary. How many of us receive most of our income from investments? Relatively, not that many of us.

So, Mr Buffet can make his statement because he knows his money is going to be fine, while most of us praise his erroneous comments because we don’t know the first thing about how the economy or investments work. So why did he make his comment about paying more taxes than his secretary? I can sum it up in two words: class warfare.

The elites who run this country are filthy rich, and why this fact escapes most people, I don’t know. They are the ones in power who run things from the top. Of course, they don’t want to lose their elite status because things could get a little crowded at the top, if you know what I mean. So, they adopt the mantra to direct at those underneath them to do as I say, not as I do. They tell the poor that the reason they are poor is because the rich folks have trodden them under their feet so they could get wealthy. This leads to class envy in which the poor begin to blame the rich for all their problems. They say things like: The major companies don’t want to raise the minimum wage because the rich folks that own them want to keep the poor in poverty, or The rich have all those millions; they don’t need all that money. The reason they have all that money is because they don’t want to share it with the rest of us! The resulting conflict benefits the elites because the largest class of people in the country aren’t wealthy. They are hard working people working to make a living for themselves, their families, and others. They begin to view the wealthy as lazy folks who won’t lift their fingers to do an ounce of hard work while the rest of us struggle to make a living. Where does all this lead to? Power. The “oppressed” tend to vote and keep the elites in power because they believe the elites will fix everything and the world will be hunky-dory, rainbows everywhere. Common sense will dictate to us that it hasn’t happened. We have heard the elites make promise after promise for decades and nothing has gotten better. WAKE UP, PEOPLE!!!!!!  The higher-ups are the players who view the rest of us as chess pieces.

Can I ask you a question? Have you ever been hired by a poor person? If you have, you didn’t get paid what you deserved. To suggest that everything needs to be “fair and equal” when it comes to the economy is nothing more than a promotion for socialism. Just study any country that has practiced it. The people live in abject poverty while the elites running their countries live like fat cats (meow). Eventually, the elites run out of other peoples’ money and the nations collapse into economic ruin. Socialism (and its siblings, communism and fascism) have NEVER worked.

So, Mr Buffet, here is one person who is not ignorant to your motives. You didn’t get rich by chance; you know most of the tricks and the trades of investing and economics and you also know that many of us are ignorant to how they work. If you are so concerned about your secretary paying more in taxes than you then why don’t you accept your investments as a salary so you can equal the playing field. Hmmm? Sounds fair doesn’t it? Lastly, if you are looking for someone to bless with a financial bonus, you need to look no farther than the author of this article. I’ll be waiting.

I leave you with this quote from Norman Thomas, former presidential candidate for the Socialist Party of America:

The American people will never knowingly adopt socialism. But, under the name of “liberalism,” they will adopt every fragment of the socialist program, until one day America will be a socialist nation, without knowing how it happened. I no longer need to run as a Presidential Candidate for the Socialist Party. The Democratic Party has adopted our platform.

You all have a good day and I’ll see you on the rebound.

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Author: V. E. Brown

I was born in Roanoke, VA on October 16, 1968. A few years later, my family settled in the Washington, DC area where I grew up. I graduated from Friendly Senior High School in 1986. I attended North Carolina Central University in Durham, NC as a geography major. Looking for a change of environment, I made Durham my permanent home in 1988. In October of 1986, I accepted Jesus Christ as my Lord and Savior and began attending Mt Zion Christian Church. In 2003, I met a lovely young lady from Liberia named Autherine and we were married a year later. I believe in the deity of Jesus Christ and the inerrancy of God's Holy Word, the Bible. I follow a Christian/conservative worldview. I enjoy reading, writing, movies, badminton, football (Dolphins, baby!!!), bowling, board, video, and computer games, and traveling.

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