Money & The Economy

Just What, Exactly, Is The Buffett Plan?

Warren Buffett stepped into the spotlight recently to say that he does not pay enough taxes. He states that he is wealthy enough that he can afford to pay more taxes than he does now. There is no doubt that he can afford a higher tax bill, but why is Buffett calling for higher taxes on the “rich” when he employees an army of Tax Attorneys to keep him from paying as much in taxes?

“Far more often, we see leaders in this country doing the opposite: protecting their own interests, their own careers or their own fortunes, with little worry about what it will mean to others,” wrote Post blogger, Jena McGregor.

Could Buffett be up to no good? Could Buffett benefit from such legislation being passed? Could this be Buffet’s way of paying Obama for his Medal of Freedom?

We all know that when it comes to tax laws, there are always loop holes written in to “protect” those of certain groups or interests. If such a bill were to pass, you can rest assured that other new taxes would soon follow on all levels.

New taxes would only hinder job growth and further drive our economy deeper into the recession, or worse yet, send us into another depression. How many companies will fold due to new taxes? Could this be where Buffett’s windfall is?

It is common knowledge that Buffett regularly buys companies and dismantles them or sells them later. Could this, in fact, but the real Buffett plan- to just sit back and wait for the effects of the proposed bill shackled on the American people to take place ?  In a very short time, companies will begin to break under the new tax burdens the proposed bill puts into place; then,  Buffet can just swoop in and buy out selected companies for next to nothing.

Would Obama get a commission on each company? (A curious thought to ponder.) If such a plan lies behind all of the posturing, it will, without a doubt, take greed to a whole new level. Maybe the real goal behind the plan is that Buffett is gunning for the #1 position on the world’s wealthiest list.

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Rich Mitchell

Rich Mitchell is the editor-in-chief of Conservative Daily News and the president of Bald Eagle Media, LLC. His posts may contain opinions that are his own and are not necessarily shared by Bald Eagle Media, CDN, staff or .. much of anyone else. Find him on twitter, facebook and

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