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Put Up Or Shut Up

October 21, 2011 by  

Please, Warren, shut up. Are you getting as tired as I am of hearing Warren Buffett spout off about how the rich should pay more in taxes? Rather than annually giving billions of dollars to the Bill and Melinda Gates Foundation, which lowers his taxes even more, why doesn’t he just write a check to the U.S. Treasury? The truth is, every dollar Buffett gets in dividends has already been taxed 35 percent by the government. If you add that to the supposedly meager taxes he pays personally, it comes to a lot more than his poor secretary forks out. And what really riles me is that Buffett knows this.

Not even the Democrats like Obama’s jobs bill. The Democrats are sitting on a filibuster-proof majority in the U.S. Senate. So why hasn’t Harry Reid pushed through Obama’s much-ballyhooed (and utterly phony) jobs bill? Because the Senate Majority Leader knows too many Democrats won’t support it. Of course, our Prevaricator in Chief ignores this when he blames Republicans for not passing it. He knows telling the truth won’t get him re-elected.

Are you ready for a chat-down? Word is that some agents of the Transportation Security Administration are being trained in a new and gentler method of spotting potential bad guys (and gals). Instead of a pat-down during airport screening, get ready for a “chat-down.” The theory goes that asking a bunch of questions could help identify potential security risks. No, you’re not allowed to reply with just name, rank and Social Security number.

Of course, there’s no editorializing here. Let me quote, in full, the question Washington Post reporter Karen Tumulty asked Representative Michele Bachmann during a recent Presidential debate: “Congresswoman Bachmann, three years after the financial meltdown, Main Street continues to suffer. People have lost their jobs, they’ve lost their homes, they’ve lost their faith in the future. But Wall Street is thriving. The banks not only got bailed out by the government, they have made huge profits, they’ve paid themselves huge bonuses. Do you think it’s right that no Wall Street executives have gone to jail for the damage they did to the economy?” Does anyone see any bias and political posturing here? Apparently, her bosses at The Post don’t.

–Chip Wood

Chip Wood

is the geopolitical editor of He is the founder of Soundview Publications, in Atlanta, where he was also the host of an award-winning radio talk show for many years. He was the publisher of several bestselling books, including Crisis Investing by Doug Casey, None Dare Call It Conspiracy by Gary Allen and Larry Abraham and The War on Gold by Anthony Sutton. Chip is well known on the investment conference circuit where he has served as Master of Ceremonies for FreedomFest, The New Orleans Investment Conference, Sovereign Society, and The Atlanta Investment Conference.

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  • Denis F

    OK, so how did Bachman react? Don’t just tease us with part of the story…

    • Annie

      Aw shucks Dennis – In fact, Chips point was in illustrating the obvious journalistic bias in querying the candidates. Michelle’s response is not what Tumulty cared one bit about – she ONLY cared about getting her liberal biased point out.

      • eddie47d

        Okay how would a Conservative ask that question if they would even dare?Should all candidates be vetted for their opinions on how they would handle a problem or situation or should we only have safe and easy ones for them.How did Bachmann respond or did she brush it off as unimportant?

  • Big Daddy

    Do you think you tell the whole story for a change.
    It is entirely unacceptable that this is what you call journalism. You should be ashamed to call your self a journalist.
    More like a slander monger.

  • Ted Crawford

    Not just that, Chip, but in 2005 W.B. just finishd a 14yr. fight with IRS to NOT pay his tax. W.B. now has a $1,000,000,000 back tax not paid!

  • dave

    Buffet needs to pay the back taxes he owes now and sty out of everybody elses taxes. he and his son owes over a billion in back taxes

  • CP

    Chip, suppose you can get your facts straight before you set down to tell us a tall tale? Mr. Buffet never said he paid less tax than his secretary, just that his overall tax rate was considerably lower. There is BIIG difference in being taxed at a lower rate and paying less in taxes altogether.

  • Don age 77

    A couple of words for W Buffett and friends. I really thought you all were smarter than that. Make BILLIONS off the present system, then turn right around and support blowing it up. Is your age and reasoning showing? I am beginning to think so! WB, Big Billy Gates, Oprah and a host of Hollywoodites seem to be nothing but self indulgent bigots. Now that they have made it big in a capitalistic society they seem to support shifting to a Socialist society. This Socialist model seems to be failing all around the world but our leaders appear to be endorsing it here. I seem to see something wrong with this. Do you agree?

    • eddie47d

      Okay Don socialism is failing in some places but capitalism is hardly a slam dunk and showed off a few of it’s failures in the latest economic crises. Buyer beware of either system having total control.

  • Mirage

    No Chip,
    What TRULY riles your ilk is, you’re all having a difficult time making up reasons, that people on this site will “buy”, regarding why the rich should not pay their fair share: Warren’s making that charades game tougher for you, and you are pissed at him.
    The rich should pay more, like they did under Clinton, when this country was more stable.
    The middle class has been on a steady decline for the last 30+ years, – most sources report a 18% income level increase for the middle class since 1980.
    The wealthy by comparison, have seen their income levels increase by 300+% since 1980.
    See the problem?
    Well then, if you’re not smarter than a 2nd grader, no one can help you, save perhaps Chip Wood. Good luck with that.

  • Cep

    Either system can be bad,Socialist,or,Capitalistic,if the people running them aren’t worth a dam,our present goverment proves that point quielt clearly. Maybe The reason that a lot of those CEO’s haven’t gone to jail,is that our goverments been Paid Off .Its kind of odd how suddenly that Issue disapeared from the News.I think its high time that the rich should pay their share of taxes,They’ve been on the “Handle “side of the SREW-DRIVER Long enough ,its time they change ends.

  • gerald garcia

    I hope buffet enjoys his wealth in hell.

  • F86

    Oh Chippy here you go again.

    Buffett paid taxes on the PRINCIPLE. 15% on the gains.
    The senate is never filibuster PROOF. Right now the Democrats don’t have the votes for cloture either.( 51 Ds 2 Is 47 Rs ) Two democrats and ALL republicans voted against cloture on the jobs bill.
    The TSA is attempting the Israeli model of Trans. Security. I wonder if they can pull it off.
    If you can show one part of Ms.Tumulty’s question that is not a fact, tell us about it.

    I wonder sir, where your voice was when the prior administration was stomping a mudhole in our constitution.

  • Robert O’Brien; Brickbat

    Mr. Buffett needs to spend that gamble counterfeit “money” to educate folks (and himself) on the need to get back to Constitutional honest money of SUBSTANCE so as the “government” USURPERS can’t steal the labor and property of honest unsuspeting Citizens, most of which have NO clue how dishonest Federal (NOT) Reserve (NOT) System STEALS us blind breaking Bible laws against USURY and Eighth Commandment “Thou shalt not steal” – 28:3002(15) is a CORPORATION ownwd by Rothchild and other thieves for PIRACY and many, many other SINS.

  • Jeffrey A. Williams

    warren is now and has never paid his fair share of taxes. He has been legally able to get away with not doing so because of tax loopholes that he and a few other super rich are able to take advantage of. This is not a result of Warrens bad behavior but a result of our elected government officials for not fully and fairly cleaning up the current and ever changing tax code.

  • Clint

    [offensive post removed]

  • Gilly

    If there are tax loopholes which allow people to reduce their taxes it means the loopholes are the law, which means it is LEGAL and NOT illegal.

    If you believe that the Tax laws should be amended to increase taxes then your need to apply to your legislators to change the current tax laws.

    I regard capital gains as just borrowed profits which will be eventually lost through mistake during our lifetimes or at the point of our death which is inevitable. So I say…don’t get too worked up about WB, Gates or Soros. I believe in the MYOB principle MIND YOUR OWN BUSINESS and that of government policy through diplomatic convincing effective debate. Any comments?

  • Gilly

    Who will most benefit from the Obama Jobs Bills in which it is proposed to spend $15 billion to rehabilitate and refurbish vacant and foreclosed homes? Who owns these homes?

    Who gets the benefit for the $8 billion for tax credits for long-term unemployed?

    Will foreign manufacturers benefit the most from a cost of $5 billion, Obama wants to extend a 100 percent expensing tax break for companies, allowing them to immediately take a tax deduction for investment in new plant and equipment ? This policy should be specifically limited to USA manufactured goods only ie; from your people for your people .

    from gillysrooms in Australia

  • Robert Kissick

    Once again those who believe in the fallacy of Keynesianism are quick to discard your comments. “Government is the great fiction, through which everybody endeavors to live at the expense of everybody else.” (FB).

    Individuals have a right to decide how they will use their time, talents, and resources, but they do not have a right to the time, talents, and resources of others. Put another way, individuals do not have a right to take things from others or demand that others provide things for them. Use of violence, theft, fraud, and physical invasions are not permissible but, otherwise, individuals are free to choose, trade,and cooperate with others, and compete as they see fit. (Economic Freedom of the World 2011 report).

    “We have so many people who can’t see a fat man standing beside a thin one without coming to the conclusion the fat man got that way by taking advantage of the thin one..” RR1964

    I’m so tired of having to continually correct the socialist left in America and their historical and constitutional inaccuracies regarding the “Republic of the United States”!

    “Well, the trouble with our liberal friends is not that they’re ignorantÍľ it’s just that they know so much that isn’t so.” RR1964

    I could continue to give a myriad of quotations and examples of why Socialism, Progressivism or whatever other “feel good” names they call this ‘ism, has never worked and that MORE Centralized Federal Government is the problem not the answer but, time is prohibitive!

    The ONLY fact is the Federal Governement has a SPENDING PROBLEM NOT A REVENUE PROBLEM!


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