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Eminentoes

Bumper Sticker Compassion

By on 10.27.11 @ 6:08AM

From Scrooge McDuck to Warren Buffett, the capitalist conscience has come a long way.

So here’s this Honda CRV in front of me at the stoplight. And here’s this bumper sticker: “Warren Buffett is My Hero. Capitalist with a Conscience.” And I figure, while waiting for the light to change: Small wonder the economic acumen on display at Occupy Wall Street and like venues is so, shall we say, for politeness’ sake, undernourished.

The notion of Warren Buffett as folk hero capitalist could — I say could — proceed from his announcement five years ago of plans to give away $37.4 billion of his fortune, mostly to the Bill and Melinda Gates Foundation. A deeper suspicion lurks, nonetheless. I mean, five years ago: that was then, this is now.

What’s the ingenious Buffett currently most famous and inspirational for? Wanting to raise the tax rates of millionaires like himself; a desire in tune with current protests noting the supposed ascendancy over us of “millionaires and billionaires” (to use President Obama’s phrase).

To single out Buffett for high-mindedness in wanting to pay more taxes, is to tar, by comparison, those of whatever income level who suspect or deplore the idea of giving government more money than it takes in already.

The varied “occupation” armies whose troops assail the capitalist system have as targets of their wrath a familiar stereotype. Those of us who more than half a century ago immersed themselves in “Walt Disney’s Comics & Stories” know the stereotype well: Scrooge McDuck, Donald’s comically acquisitive uncle, forever sporting top hat and spats, given to amusing himself by swimming as it were in a vast storage bin of money. “Unca Scrooge,” at the end of the tale, usually came up trumps, consenting to help the downtrodden but only after a little spluttering about people who apparently think he’s made of money.

It’s the same myth retailed at the various “occupation” camps we see and read about daily. We gotta pull down the capitalists, it seems. It’s just all so unfair they have so much money. Hardly anyone, to be sure, has as much money the Sage of Omaha; but, then, he’s a different breed of capitalist, it appears. Compassion (so the bumper sticker suggests) is his middle name. Which — to repeat the point — is likely due these days to his advocacy of inviting the government to tax him more.

“My friends and I have been coddled long enough by a billionaire-friendly Congress,” Buffett wrote in the New York Times last Aug. 14, apparently precipitating the hero worship that takes place at stoplights. The solution: “raise rates immediately on taxable income in excess of $1 million,” with additional imposts on earners of $10 million or more annually.

Ample credit is due Warren Buffett for deciding to give away most of his fortune. Somehow, nonetheless, the current offering up of millionaires for federal plucking deserves contextual scrutiny.

A fat cat with a conscience thinks the federal government needs more money in order that it might… what? Fund more “shovel-ready” projects? Save teaching jobs? Pay down the national debt? You don’t get that particular kind of guidance, of course, from a bumper sticker. What you do get is the sense that the more money taxpayers give to Washington, the better off we all are. That’s without respect to the drag that taxation levels may create on economic growth and private-sector job creation. The benefit of the doubt always goes to government in these contexts. The government needs more money because the government needs more money because… you get the idea pretty quickly.

Actually the wells of compassion are sunk pretty deeply in the American character, as witness the extraordinary level of charitable giving. Americans last year donated $291 billion to charity, an amount 3.8 percent larger than the recession-induced levels of 2009 and 2008.

As it happens, Warren Buffett isn’t the only wealthy patrons of charity (notwithstanding his status as the world’s third richest man). Twenty-five percent of all charitable giving last year came from the fat cat set. The dollars themselves came from the earnings of men and women not quite so successful as Buffett but impelled by the essentially the same motive — that of earning, compiling, building up.

Buffett in his New York Times article contended higher tax rates wouldn’t suppress the desire to earn. Possibly not. What higher rates might produce is strategies and schemes to undertake investments valuable largely as shields for earnings — ways not so much of putting good ideas to work as of avoiding entrapment by the IRS code. The Wall Street occupiers don’t buy this line. Fat cats, they reason, get that way from raping the public: for which reason we ought to reduce their rewards.

Capitalists with Consciences. Hmmm. Want to bet even the folk hero Warren Buffett fails to see expropriation and confiscation as evils of the most damaging character?

Buffett the donor: Yes, hooray, good show. Buffett the advance man for tax increases and renewal of the Big Brother state? As Uncle Scrooge might well have put it, back in the day: “Quack, quack!” 

About the Author

William Murchison, a Dallas-based columnist for Creators Syndicate and author of Mortal Follies: Episcopalians and the Crisis of Mainline Christianity (Encounter Books), is completing a biography of John Dickinson..

Letter to the Editor View all comments (45) |

Doctor_X| 10.27.11 @ 7:08AM

Maybe if Buffet reinvested his billions into new companies, new ideas, and venture capital instead of giving it away to the wasteful government or the left-wing socialist of the Bill and Melinda Gates Foundation we wouldn’t have such a high unemployment rate. We would have better jobs and less of a need for social program and more employed people who would give as well. It would be a more efficient use of the money with more direct benefits.

Bob Grant| 10.27.11 @ 8:05AM

You make too much sense. Please enlist at your nearest re-education camp immediately.

WtotheB| 10.27.11 @ 1:02PM

What do you think those billions are doing right now, DX? Read up on the business model of Berkshire Hathaway before you jerk that knee.

TrueBlue| 10.27.11 @ 2:37PM

You mean the same company that is currently in legal proceedings with the IRS for not paying their taxes?

Doctor_X| 10.28.11 @ 7:33AM

I was talking about what will be done with the money he donates. What will the Bill and Melinda Gates Foundation do with the BH stock they get? Sell it, take the money out of the market and spend it on social programs.

Occam's Tool| 10.27.11 @ 1:45PM

Seem to recall Buffett got many of his most profitable companies while swooping in like a vulture to capture family owned companies knocked back by Death Taxes.

Yeah. Conscience my ass. He's better than Soros, though.

Pecos Pete| 10.27.11 @ 8:09AM

Question: Has Mr. Buffet has invested any of his money in green energy companies?

Doctor_X: Nail on head. Your point is excellent.

Bob Grant| 10.27.11 @ 7:03PM

These days he's all about the crony crapitalism so unless the government made it worth while for him I'll say no.

Shamus| 10.27.11 @ 8:27AM

The sad truth is that the US government will go bankrupt unless significant changes are made. It's going to require tax increases on everyone and cuts in all government programs. Greenspan says that the Bush tax cuts should be allowed to expire next year, increasing taxes on everyone. This is a perfectly reasonable suggestion. In addition, Martin Feldstein suggests limiting tax deductions for high incomes. This is another good idea.

But this won't be enough. Tax cuts in all spending programs are needed. Ron Paul suggests entirely eliminating some departments of government, while the debt agreement will probably impose cuts in military spending.

Both parties are going to have to give in on their spending priorities, as the alternative is a debt market crisis.

Tom| 10.27.11 @ 9:22AM

"Greenspan says that the Bush tax cuts should be allowed to expire next year, increasing taxes on everyone."

It mught indeed be a good idea, but Greenspan is hardly some sage. His policies were a driving force behind the financial crisis. Why this man is so idolized is beyond me.

TrueBlue| 10.27.11 @ 2:40PM

Sort of. His policies staved off the housing bubble burst which sadly made things worse, but the purpose was to give the federal government time to correct things. Instead the government just screwed things up more.

That said, increasing taxes won't fix the problem. What always happens is they say they'll decrease spending, but we need the tax increases now to deal with current debt. Then they go and increase spending instead of cutting it because they are taking in more "revenue." Massively reduce government spending first, remove agencies and departments not listed in The Constitution, THEN we can talk about raising taxes. Trying to do things the other way around is how we got in this mess.

LarryK| 10.27.11 @ 8:41AM

My favorite bumper sticker is
"If you think my driving is bad, get a look at the A55hole behind me"

cuban pete| 10.27.11 @ 9:32AM

I saw a good one years ago in Iowa.
It was in Hawkeye Black and Gold and said,
" When you criticize American farmers, don't talk with your mouth full."

Paul in Colorado| 10.27.11 @ 2:21PM

Out in Colorado we see this one:

Earth First! We'll mine the other planets later.

CalMark| 10.27.11 @ 3:01PM

My "favorite": an old hippie (complete with long, gray hair all over the place) with a bumper sticker: "I H8 SUVs"

The old clunker she was driving probably got worse mileage and pollutes far more than the SUVs she professes to "H8."

Al Adab| 10.27.11 @ 3:16PM

I like those examples guys, but my personal favorite comes from many years back. It read, "Save the whales, boycott Japanese goods" and of course was affixed to the rear bumper of a Toyota.

Skippy| 10.27.11 @ 4:01PM

"Eschew obfuscation".
All-time fave.

Moe Blotz| 10.28.11 @ 4:51AM

My late sister worked for Argonne National Laboratory back in 1983 and her favourite bumper sticker read,"A little Nukie never hurt anyone".

Conservative View| 10.27.11 @ 10:00PM

My favorite was one that said:

LETS GO FOR BROKE!
Relect President Obama.

rendite| 10.27.11 @ 9:11AM

To give arguments in these Am. Spectator Online articles far more punch, it would be helpful to cite the factual references.

Cite the source for the key statistic used.

Example from the article:

"As it happens, Warren Buffett isn't the only wealthy patrons of charity (notwithstanding his status as the world's third richest man). Twenty-five percent of all charitable giving last year came from the fat cat set. The dollars themselves came from the earnings of men and women not quite so successful as Buffett but impelled by the essentially the same motive -- that of earning, compiling, building up."

Okay, 25% in 2010. Says who? Who would or could track such philantropic giving as defined by dollars and "class" of the charity givers?

"Fat cat set" defined please.

Source reference please.

Petronius| 10.27.11 @ 9:44AM

I'd like to spit in both of Buffett's faces. The real reason he wants higher taxes is to prevent ordinary Americans from accumulating enough money to become rich because he, like every other liberal snot, does not like what we would do with it.

WtotheB| 10.27.11 @ 1:05PM

Um, it's the fact that your tax rate is higher than his that makes wealth accumulation more difficult for you than it is for him.

TrueBlue| 10.27.11 @ 2:43PM

Exactly, so let's reduce taxes on individuals. Then we'll reduce taxes on corporations since all that does is force us to pay more for products because corporations don't pay taxes. That will give your average person more money to spend, and if they are smart they'll use it to invest instead of blowing it on huge TVs.

Timothy L. Pennell| 10.27.11 @ 9:49AM

I wonder what the LORD thinks of Warren? A Lifetime spent, chasing Money. Serving MAMMON. All the things he has, but, "What does it profit a man, to gain the whole world, ans lose his Immortal Soul?"
Buffett doesn't MAKE anything. No Medicines. No new Medical Procedures. No new Inventions, to make Man's life better. He makes MONEY.
But, he's the way to go. He's the "Whore with the Heart'a Gold". Why? Cause he thinks that HE should pay more in taxes, even as his ARMY OF LAWYERS is fighting the IRS, to keep from Paying his Taxes.
I Spit on Warren Buffett, his Hypocrisy, his Cozying up to a Marxist, intent on destroying our Economic System, and his WASTED LIFE.
PAY YOUR TAXES, ya POS!

Occam's Tool| 10.27.11 @ 1:46PM

Buffett is also a tax cheat. Please. He's a load.

Ted| 10.27.11 @ 2:17PM

He's a big abortion supporter, in both word and deed ($).

Skippy| 10.27.11 @ 4:03PM

So he pays people to kill innocent babies?
Didn't that used to be a crime?

Big Tony| 10.27.11 @ 10:06AM

From what I understand raising the tax rate on high income earners will make the insurance products Warren Buffet sells more desirable and thus make more money for ................................... you guessed it, Warren Buffet.

We should not be any more interested in or accepting of Warren Buffet's take on tax policy than on that of George Soros or Micheal Moore.

And let's not fool ourselves or anyone else, these Trust Funds and Foundations of Bill and Melinda Gates and others are simply tax shelters designed to shield these people and their heirs from the Estate Tax under the guise of philantrophy. And the main goal of these Foundations and Trusts are to protect, preserve and enlarge the huge fortunes these people have amassed.

Furthermore the right's assertion that these people's taxes have already been paid and the Estate Tax amounts to double taxation is pure BS and is designed to fool the uninformed masses that it is really a matter of "FAIRNESS". The truely wealthy, people like Gates and Buffet's vast fortunes are almost entirely unrealized Capital Gains which have never been taxed. So we might as well get rid of the Estate tax not because it's double taxation, or matter of "FAIRNESS" but simply because the Super Rich don't pay it already, their wealthy Ruling Class friends in Congress and the White house have already seen to that.

TrueBlue| 10.27.11 @ 2:48PM

Since he doesn't pay income taxes seeing as his income is almost entirely taxed on the capital gains set his wish to raise taxes on high income earners is nothing but a two-faced lie.

Get rid of the estate tax because the only people it punishes are non-millionaires. No argument that rich people find tons of ways to pay nearly no taxes, but they still end up paying more overall than the rest of us, the percentage of their income is just lower.

The whole "tax the rich" angle is stupid anyway, since it would increase taxes on those making $250k, not just the millionaires it is supposedly for. It only makes it harder for people to actually get rich, basically a tax enforced method of the feudal caste system.

Ted| 10.27.11 @ 10:28AM

We should call his bluff and immediately call for a 95% wealth tax on people such as him. Notice I did NOT say an income tax. A WEALTH tax. He can cough up 95% of that 37 BB to the government this year. You want a tax? We'll be happy to oblige. Besides, it will relieve him of the burden of having to give it away himself.

JimH| 10.27.11 @ 10:33AM

To bad the John Galts and Hank Reardons exist only in books.

WickedDickie--Virginia| 10.27.11 @ 11:26AM

Take another look at Pecos Pete's comment and call the nearest office of Obama-ayers' Anti (American) Energy Department. BTW, I like your prescription Doc. I can hear the screaming now from the compassion folks. (usually members of the Democrat Party of Death)

Al Adab| 10.27.11 @ 11:36AM

I always admired Scrooge McDuck, the self made gazillionaire and horder. Probably that is the reason I am a numismatist and hold gold and silver coinage as well. Uncle Scrooge put in a lot of hard work to make his money. Perhaps there is a lesson there for us. Hard work, pluck and a little luck and anyone can succeed. The poor need not be a permanent underclass. In fact the only ones' who want it that way are the "leaders" who profit by their touting of victimization.

Pat| 10.27.11 @ 1:10PM

If “Corruptionism” was a recognized economic theory, this author would most likely have employed the word to describe the relationship between billionaire taxpayers and our form of government. Savvy guys like Buffett - and it really does take considerable savvy to amass billions - maintain a humble profile; they drive an older car in public, avoid late night parties with a Hollywood starlet on each arm and tell anyone in the media who will listen the rich must pay more in taxes, modestly including himself among the “rich”. Widespread envy is a constant danger to guys like Buffett and it’s necessary to take precautions against those Americans who resent anyone who is smarter, wealthier or luckier than themselves.

Fortunately, American Corruptionism provides relief and an incentive to guys like Buffett. Under our system of Corruptionism, you publicly accept, even demand, higher taxes on your income and then rely on politicians to provide relief from your demands. Politicians don’t provide such relief free of charge of course – some quid pro quo occurs, a politician’s close relative receives a valuable investment tip known only to the fortunate few and a generous campaign contribution, perfectly legal, is made. Politicians, in turn, arrange for ingenious loopholes in our tax regs to mysteriously appear and disappear under American Corruptionism.

Everyone prospers under this economic theory, the envious public believes the billionaires are being financially humbled and somehow that is to their benefit, although it’s difficult for them to explain exactly how they will benefit. Billionaires retain, even increase, their wealth while the politicians enjoy tasty crumbs which fall from the billionaires’ tables.

Billionaires like Buffett certainly aren’t paying confiscatory taxes now (as he publicly admitted) and definitely won’t be in the future, but their public relations will improve enormously. Politicians are sitting in their hot tubs, smoking Cubans, secure in the knowledge they play a vital role under our American form of Corruptionism. The world slowly changes, an agrarian-based barter system is replaced by a market-based economy, market town economic systems grow into national Capitalism and national Capitalism grows into Corruptionism. Eventually, the wheel will turn and we’ll go back to a barter system where guys like Buffett will still come out on top.

Cookie Sewell| 10.27.11 @ 1:27PM

Actually as a long-time Scroogeophile the correct response would be "WAK!" (Credit to Carl Barks!)

Joe D.| 10.27.11 @ 3:14PM

So, why doesn't he pay the money he owes the IRS now instead of fighting the $1,000,ooo. If he is so generous why is he fighting? I believe he is hiding something the the new taxes would help him somehow.

marshcope| 10.27.11 @ 9:44PM

Popular bumper sticker out in the Heartland: "My bird dog is smarter than your honor roll kid!" And good old Unca Scrooge never did let Magica DeSpell get his money. But oh how she tried.

POST American| 10.27.11 @ 10:33PM

---------Tavistock NEUTRALIZATON OP----------
------------------------ALERT!----------------------------

---NOT any kind of 'Scrooge McDuck'---

Very much a Globalist, USURY and EUGENICS
psychopath.

--------------JUST FOR THE RECORD---------------

mensamensa| 10.28.11 @ 3:07AM

POST-OP:
"--JUST FOR THE RECORD--"

And you're a broken one at that.

POST American| 10.28.11 @ 3:33AM

--------USURY, and most certainly
INTER-national, psychopathic CALM-pound,
fractional reserve USURY ------IS always
intertwined, sourced with, obsessed with
------------------YOU-GENICS----------------------

---Accept NO side steps ---NO DIS--tractions
and NO ------YOU--FEMM--isms.

--------WE ARE TALKING LAW OF MOSES--------

-------------Just keep a goin' kiddies!

POST American| 10.28.11 @ 3:50AM

--------------------------PS---------------------------------

-----And, you will find, there is NO
POST OP -----to the revealed Word of GOD.

---------------IT IS ETERNALLY SO-------------------

Moe Blotz| 10.28.11 @ 4:53AM

Got into the chloroform again, I see.

levis pull | 10.28.11 @ 5:26AM

love

AhiaGuy| 10.28.11 @ 9:12AM

As has been pointed out before, nothing prevents Mr. Buffet or President Obama or Michael Moore or any of the other "Raise My Taxes!" millionaires & billionaires from sending extra money to the US treasury any time they want. In fact, there's a line on the tax form just for that.
What they really mean is, "I want taxes raised on that other greedy SOB because my intentions are good and my heart is pure."

POST American| 10.28.11 @ 11:06PM

--------------------FINAL WORD-----------------------

"And David 'counted' the tribes----"

"COME OUT from among them,
DO NOT partake of their sins."

-----------------THE WORD OF GOD-------------------

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http://spectator.org/archives/2011/10/27/bumper-sticker-compassion

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