And you thought the only economic giant I pick on is Alan Greenspan. Allow me now to add the name of Warren Buffett (search).
I know what you're going to say: Who is this puffed up, overrated journalist to judge financial gods? Well, I'll tell you who: A guy who is smart enough to know these guys aren't that godly, or that smart, or that infallible.
Buffett says the dividend tax cut is a big mistake and that since he stands to make at least $300 million off of it, it's not fair either. Well, maybe not to you, Warren. But I think a whole lot of people might disagree.
He dismisses the few hundred or few thousand bucks typical investors will get back. No doubt chump change it’s him, but that's very real dough to them.
Buffett says cutting dividend taxes only benefits kazillionaires like himself. Well, I know plenty of people earning plenty less who'd like to argue that point.
Look, if Buffett feels so guilty about getting money back, then give it back, or give it to the people he thinks deserve it.
Let's face it, Warren, you're in rarefied company. There aren't too many billionaires on this planet. But don't spoil it for the people who aren't where you are. And for god's sake, quit deciding what they should do with their money simply because you don't want your money.
Clearly Buffett is no big fan of dividends -- he doesn't offer them. And the cash hoard he’s collected at Berkshire Hathaway has grown so large precisely because he doesn't bother with them.
Maybe what really troubles him is the fact he will have to start offering them if this tax cut goes through. And he won't have as much of a cash hoard.
Look, Warren, you've engineered a fortune. Stop trying to reengineer society. You feel guilty about being so rich? Quit taking it out on the people who want to become rich.
I don't think it's a bad thing for the little guy to get even a little money back. But I do think it is a bad thing when the government taxes that money again before he can get it back.
I know you're a sage. But you're acting like a stooge.
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