In Jim Cook's Archive


V. I. Lenin first coined the phrase “useful idiots” during the Bolshevik Revolution. It describes someone manipulated by a political movement. Liberals have found a “useful idiot” in Warren Buffett, who testified before congress recently that taxes are too low. The so-called “Sage of Omaha” sounded more like a socialist than a capitalist. Despite his investment genius his philosophical underpinnings reflect the bankrupt notions of the far left.

Mr. Buffet likes to come off as a humble guy who doesn’t want any publicity. Perhaps at one time this was true. However, all that praise and attention is bound to make an ego grow. The “Oracle of Omaha” struck a rich publicity vein when he said he wasn’t paying enough taxes. The liberal media loved it. They turned it into front page news. Soon Mr. Buffet was grandstanding before congress, promoting tax hikes and loving the limelight.

It’s universally accepted around the world that low tax rates lead to dramatic economic gains. It’s been tried extensively and it works. High taxes siphon off money that would otherwise be saved and invested. Doesn’t Mr. Buffet understand that if the entrepreneurial class is allowed to keep more of the money it earns, it will result in more new technologies, new companies, new jobs and new wealth? Does he seriously think this money does more good in the hands of a government that’s notorious for waste and inefficiency?

Private individuals build and create with the money they earn and save. Government only makes a bigger mess. Mr. Buffet thinks that rich people owe it to humanity to pay higher taxes. Among the government horror stories that Mr. Buffet should familiarize himself with is the worsening social condition of the subsidized underclass that tax dollars supposedly help. How much better for the free market to provide them jobs and opportunity. You have to wonder how a man so successful in his investments could endorse big government and high taxes that serve to damage free enterprise.

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