Recently, Forbes magazine carried an article which miserable tries to ‘belittle’ Warren
Buffet. The title was “Warren Buffett CEO Porn Gone Wild”. What a distasteful
title! The content is even more horrible. It goes on to criticize Warren Buffet
for some innocent statement. The article tries to establish that Warren Buffet
is a villain or insensitive person.
It is well known that Warren Buffet wants the 1% rich of the US must pay more as taxes. He repeatedly has shown that his secretary pays more tax than him in relative terms.
Financial Thoughts have shared it views on this on an article in this blog titled “Another proof that Warren Buffet is the Most Intelligent investor !! dated 29th Sep 2011. We analyzed the strong logic based on which Warren Buffet supports more tax on the rich.
During the same period, Forbes has vehemently opposed to raise taxes on 1% rich class. The owner of Forbes magazine, who seems to be reluctant to part with his money as taxes, has personally written an (rather unconvincing) article stating that why the rich cannot afford to pay more tax. (It reminds French Revoluation days of 1789, where the rich also held the same view)
The opposing stance by Forbes and Warren Buffet is evident. Arguably, WB stance is good for both US and the rich class as we have analysed in the blog dated 29th Sep 2011.
In order to avoid paying more tax, it seems that the powerful 1% is buying out some ‘experts’ who is circulating articles how increasing taxes on rich could cripple the country! The main argument is that if the taxes are increased, then the incentive to invest will be lost for the rich 1% of the US. However, such arguments don't hold water.
It is people like Warren Buffet, who has shown his courage to express his opinion independently – just as his contranian approach he has displayed in some of his best investment decisions (e.g. Amex in 1960s).
However, some midgets don’t understand this. Hence, they decide to criticize and make fun of great people by giving the pen to imbeciles.
All people who believe in fairness and logic must discard such articles
and publications (on Warren Buffet) to its right place – the dust bin!
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