Tuesday, January 31, 2012

Hellish War of Envy

Charles Payne

This brings me back to that Pew Research Center report on the conflict between rich and poor. With 66% of respondents saying they believe there are "very strong" or "strong" conflicts between rich and the poor, we are at a place where efforts to redefine American capitalism will be pushed as hard as ever. This has been the plan from day one which is amazing since back a few years ago those that suggested as much were written off as loony tunes. That moment is certainly here and the central issue of 2012. The big guns include president Obama, the media, Hollywood and Warren Buffett.

Warren Buffett's challenge to republican lawmakers to donate money to lower the federal debt, that he would match them dollar for dollar (in case of Mitch McConnell the match would be three dollars), was the tackiest piece of political foolishness I've heard in a long time. The timing was perfect, however, if you are looking to build a head of steam toward changing America into a socialist economy. The usual culprits including Time magazine with Buffett on the cover, singling out individual villains like McConnell, have been planned for a long time. Buffett said in New York Times piece his tax rate was 17.4%, or less than his secretary's, but he did pay $6,938,744. He should have paid more… if he thinks that's the right thing to do. 

Read more: http://finance.townhall.com/columnists/charlespayne/2012/01/31/hellish_war_of_envy

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