RUSH: Warren Buffett hosted a fundraiser for the regime in Chicago and in New York at the Four “Treasons.” “Tycoon Warren Buffett, headliner of last night\u00c2\u2019s fund-raiser for President Obama at the Four Seasons, reiterated his advice for a tax on ‘ultra-rich people who are paying very low tax rates.'” And, by the way, last week Buffett clarified this, and he made it clear that what Obama wants to do is not what he would do, and he started distancing himself from what Obama\u2019s calling the Buffett Rule.<\/p>\n
The Buffett Rule is about this nameless secretary of his who supposedly is getting soaked by the tax code while Buffett skates off easily, and Buffett made clear, this is what he said, (paraphrasing) “If you\u2019re on television and you earn $50 million a year, you\u2019re not affected by what I want to do. If you\u2019re an athlete and you make $50 million a year, my plan is not gonna affect you. What I\u2019m trying to get at is people who have that kind of money who are not paying a legitimate income tax rate.” He has no quarrel with the income tax rate. You understand what I mean when he says if you\u2019re on television and you are earning $50 million a year, my plan won\u2019t change you, I don\u2019t have any problem with you. If you\u2019re an athlete making $50 million, what have you, I have no problem with you. But if you have that kind of money and you\u2019re getting away with paying something like capital gains rate, not the earned income rate, then I, Warren Buffett, want to join Obama and come nail you, you SOB. (interruption) Why are you confused?<\/p>\n
What\u2019s so hard to understand about that? Hm-hm. No, no. He\u2019s saying if you make $50 million and you\u2019re paying taxes, he\u2019s got no problem with that. That\u2019s what he\u2019s saying. It\u2019s if you have $50 million and you aren\u2019t paying taxes. But he\u2019s assuming that if you\u2019re making $50 million by appearing on TV that you\u2019re on somebody\u2019s payroll so the deduction is happening and you\u2019re not a problem. And if you\u2019re an athlete making $50 million you\u2019re on a payroll, your taxes are being deducted at the appropriate rate, you\u2019re cool. But if you\u2019re monkeying around with it and your secretary, like my secretary, he\u2019s saying, is paying a higher rate than I am… so basically Warren Buffett distanced himself from Obama a little bit.<\/p>\n
See, Buffett\u2019s old-fashioned. He doesn\u2019t realize that billionaires only have to make $200,000 a year to be called billionaires. In Obama\u2019s world you\u2019re a billionaire and have a jet if you make $200,000 a year. He\u2019s uncomfortable about taxing them. But here\u2019s the thing. He hosts this big fundraiser at the Four “Treasons” last night for Obama, but the turnout was, quote, unquote, disappointing. It was $10,000 a plate, the turnout was disappointing. “An Obama fund-raising insider said the campaign has been getting resistance from some Wall Street donors from 2008 over the proposal, though Buffett said the event ‘went OK.'” (imitating Buffett) “I was there. That\u2019s all anybody cared about.” Well, he didn\u2019t say that. You have to know how to read these stories. So here is Buffett, let\u2019s go to CNBC last Friday, Squawk on the Street reporter Andrew Ross Sorkin is interviewing Buffett. Sorkin said, “Let\u2019s talk about the Buffett Rule for a moment, talk about how it came about in terms of the White House getting in touch with you and you putting your name to this.”<\/p>\n
BUFFETT: Gene Sperling called and said, “Can we use your name?” And I said yes.<\/p>\n
SORKIN: Are you happy with the way it\u2019s being described? Is the program that the White House has presented, a million dollars and over, your program?<\/p>\n
BUFFETT: Well, the precise program — I don\u2019t know what their program will be.<\/p>\n
RUSH: (laughing) So, yeah, go ahead and use my name, I don\u2019t know what your program\u2019s gonna be. Gene Sperling called and said, can I use your name? Sure, go ahead. But he doesn\u2019t even know what the program is. So the next question came on Bloomberg on a program called The Loop with Betty Liu, and she said, “The Buffett Rule, I know that you\u2019ve had some pretty strong political and social views in your lifetime you\u2019ve expressed very publicly, but this, though, the Buffett Rule, this has become this hot-button issue. Why step out so much in the public this time around on this?”<\/p>\n
BUFFETT: Well, it isn\u2019t to have the rich pay more taxes. It\u2019s to have the ultra-rich who are paying very low tax rates pay more taxes. Now, there\u2019s all kinds of ultra-rich who pay normal taxes, but there\u2019s a small segment, but you can find them very easily, who pay very low taxes, including me.<\/p>\n
RUSH: There you have it. So it was in that context that he said he doesn\u2019t care about the athlete making $50 million or TV host making $50 million, he\u2019s not targeting them. He\u2019s targeting people like himself. Warren, why don\u2019t you just turn yourself in? Why do you have this massive program to go find people like you? You know where you are. Just turn yourself in. Hee-hee-hee. These people amaze me.<\/p>\n","protected":false},"excerpt":{"rendered":"
RUSH: Warren Buffett hosted a fundraiser for the regime in Chicago and in New York at the Four “Treasons.” “Tycoon Warren Buffett, headliner of last night\u00c2\u2019s fund-raiser for President Obama at the Four Seasons, reiterated his advice for a tax on ‘ultra-rich people who are paying very low tax rates.\u2019” And, by the way, last […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","ngg_post_thumbnail":0},"categories":[],"tags":[],"yoast_head":"\n