Tax Benefits

On Monday, Warren Buffett, the third wealthiest person in the world according to Forbes magazine, asked that the U.S. no longer pamper the most affluent. He urged U.S. political leaders to raise taxes on the super-wealthy like himself. Buffett, coming from a commendably honest perspective, acknowledged that in the U.S. (and as often happens in other countries), the super-wealthy pay fewer taxes in proportion to the rest of the population. They have advantages and political privileges that allow these tax benefits to exist. In addition, this system is maintained by the sacrifices of members of the other classes. A clear example is the soldiers currently fighting in Afghanistan who belong to the working and middle class.

Buffett’s statements may seem idealistic rather than altruistic or generous, but he is aware that the present system is threatening peace and democracy in large part because it’s dominated by the stock markets. In this epoch characterized by the ever-growing gap between the poor and the wealthy, never before has a race for cash been so evidently wild. Moreover, this is occurring within the same system that facilitates life and helps maintain billionaires like Buffett. That the Republican Party just does not seem to understand this is a threat to the system.