Warren Buffett has released his annual encyclical on the need to raise taxes for the wealthy, from theNew York Times, the de facto cathedral of the Church of Enlightened Envy. As usual the arguments make no sense, and conservatives have issued the usual challenges: Capital gains taxes are a second layer of taxation, so it’s irrational to compare that only to a middle class person’s total tax rate; capital gains tax rates are lower because capital is at risk from speculative losses, unlike wage and salary income; capital gains rates are lower because most capital gains are long term,...
Very informative. Thank you. I think he is also, apparently like his mother, going nuts. Take the leftist wife, mix in years of being surrounded by leftists and so eventually seeking their approval, and toss in some crazy.
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