What a conflict of interest it is when you are an advocate for raising taxes and at the same time running a successful business. Corporate executives generally get praise by saving their company money and investing their dollars appropriately to grow that company further. I really don’t care what someone’s politics might be, somewhere inside a business person is a financially conservative understanding to be profitable and to make money over time.
I don’t understand these people who desire to shoot themselves in the foot and then attempt to run a race. Now this is a touchy subject for me because I have a love hate relationship for Warren Buffett. This man is an amazing entrepreneur that has taught me a great deal about value investing and given me inspiration to build my future. His methods are so cut and dry but are timeless and effective. For all of these things and more, I respect this man…
When it comes to his politics, I feel like Buffett has become such a tool for the liberal agenda; to raise taxes on the producing portion of the population. Who would be a better person to advocate for something like that than the top producer (or one of) in the world? It’s another story when you have welfare queens out there telling the taxpayers to pay more to support their needs…
But here we have a wealthy successful man who advocates for the liberal mentality to oppress the producers with higher taxes and fees. You actually can’t get more qualified than that, because it doesn’t directly benefit him because the more he accomplishes the more he pays in taxes. Now it’s debatable whether or not he indirectly benefits from the publicity which actually poses a conflict of interest in his message…
Hypocrisy at its Best!
Berkshire Hathaway, Buffett’s company is being scrutinized now because they are structuring a deal which will sidestep them paying hundreds of millions in taxes. That number is $400 million to be exact! Instead of selling their asset for cash, they will be exchanging it for shares of Berkshire which will take their estimated tax liability from $400 million to $0.
In any other situation, my first reaction would be, RIGHT ON! But why would someone who believes in redistribution of wealth with such fervor, look for a way for his company to sidestep paying a noble $400 million in taxes for the sale of Graham Holdings?
I say if you are going to run your mouth about others paying their OVERLY fair share, you step up and be the first in line. He could have touted that along with his higher taxes for the rich philosophy and paraded this with Obama to the nation.
Of course I truly don’t believe anyone enjoys paying taxes, even the people who advocate for it. It’s annoying for me when people feel entitled to tell other people what to do with their own money. This is why I feel like Warren Buffett is a big hypocrite for what his actions are revealing.
Until Next Time,
Chief Editor at CrushTheStreet.com