25 August 2011

Warren Buffett

There's a pretty good critique from a lefty persepctive of Warren Buffett's bleg to be taxed more over here

While the tax code in all its complexity certainly privileges the wealthy at the expense of most Americans, this barely scratches the surface of the ways the state oppresses poor and working people to line the pockets of the opulent. Buffett's article never mentions direct corporate welfare or the numerous privileges that the wealthy hold thanks to intellectual property, the land monopoly, regulatory barriers to entry, suppression of labor movements, and imperialism, to name a few. To illustrate the extent to which government intervention privileges the super rich at the expense of everyone else, I will examine Warren Buffett's stock portfolio and expose how his wealth stems from violence, coercion, imperialism, and statism.

The answer being: a lot. But of course my portfolio does the same. It's hard to make money in this or any country without mixing your resources with the behavior of the state.

In any case I have a far more concise critique of Buffett: the IRS takes donations.

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