Wealthy Charlotteans Disagree with Warren Buffett

Bruton Smith doesn’t feel coddled.

Not like billionaire Warren Buffett, who thinks tax laws let wealthy Americans off easy.

“If he wants to just send more money, he can write a check,” says Smith, a Republican and chairman and CEO of Speedway Motorsports. “… He should sit down and shut his mouth.”

Buffett’s suggestion this week that the rich are “coddled” by a “billionaire-friendly Congress” sparked a national debate and set off a firestorm of criticism from Republicans and others, including some wealthy Charlotteans.

“For him to say what he said I think is full of crap,” says Felix Sabates, a Republican and successful businessman and car dealer. “So you’re going to squeeze the rich guy and create more unemployment?”

Charlotte Observer

If Warren Buffett doesn’t feel he is being taxed enough then why doesn’t he put his money where his mouth is and give more to the government?  He doesn’t need to take all of his tax deductions.  He doesn’t need to set up all of these charitable trusts to avoid his $50 billion in wealth to be hit with the Death Tax.  The U.S. has a special account set up for anyone who wants to donate money to the federal government.  Several states have these types of accounts set up as well and you know, it’s funny.  All of these leftist elitists who scream for more taxes never contribute to them.  What they really want is everyone else to live by the rules they set with themselves exempted.

I agree with Bruton Smith.  When it comes to federal taxation, neither he nor other wealthy Americans are being coddled.  In 2007, according to figures from the IRS, the top 1% of taxpayers in this country paid 40.42% of all federal income taxes.  Together they paid more than the bottom 95% combined, yet somehow, there are actually people in this country who think they aren’t paying their fair share.  Could they afford to pay more in taxes than the rest of us?  Yeah, probably, but that’s irrelevant.  There is nothing fair about expecting them to.  Bruton Smith and Warren Buffett are not responsible for me and they aren’t responsible for you.  They earned their money and it doesn’t belong to me or you.

The more we allow our politicians to engage in class warfare, the further down the road to serfdom we are going to go.  If the government stayed out of the way and stopped over regulating our economy, got out of the health care and retirement businesses, and stopped waging wars around the world that don’t affect the security of our nation, the current tax levels would be more than sufficient to run the federal government.

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