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Thursday, August 18, 2011

Why the Attacks on Warren Buffett Need to Stop

Why the Attacks on Warren Buffett Need to Stop
Warren Buffett, billionaire investor and businessman, recently became the center of media headlines this week after presenting his view of the current budget crisis.
Mr. Buffett publically announced that he felt that his “friends and [himself] I have been coddled long enough by a billionaire-friendly Congress…[and that it’s] time for our government to get serious about shared sacrifice (Buffet).
He argued that if the government was ever to successfully shed its $14 Trillion debt, it needed to stop playing partisan games and craft an all-encompassing policy.  The policy he desires includes large tax increases for the super-rich.  Buffett says that he, along with other billionaires, will not stop trying to make money (and therefore end job creation) if taxes increase.  He says this because he is the job creator Republicans claim to try and protect in the name of economic progress.
The right wing media and politicians began to criticize Buffett in order to prevent the American people from agreeing with the incredibly successful businessman.  They decried him as unsuccessful and incompetent.  They claimed that Buffett had never been a job creator and that he did not have any idea how the market worked!

Buffett made his billion dollar fortune himself.  He began to build his fortune at a young age through a series of investments, starting of companies, and other money-making dealings.  This is the man that has predicted global market activity and economic trends for decades to amass his vast fortune. 

Any premise that Buffett is unqualified to speak for the mega-rich and how they would react to an income tax increase is ludicrous and unfounded.  The attacks on this American economic icon and one of the most brilliant market minds we have today are illogical and for the sake of sanity and our countries’ economic prosperity should end immediately and completely.

Jeff with current events

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