Warren Buffett Will Match Personal Donations from Congress to Reduce National Debt (GOP Only Please)
**Written by Doug Powers
Proof positive that you don’t get to be a billionaire by risking making matching fund challenges to people on your side of the argument who might actually take you up on the offer so they don’t appear hypocritical.
From Reuters:
Warren Buffett is willing to put his money where his mouth is, if only congressional Republicans would join him.
The American billionaire investor, in the new issue of Time magazine, says he would donate $1 to paying down the national debt for every dollar donated by a Republican in Congress. The only exception is Senate Republican leader Mitch McConnell – for whom Buffett said he would go $3-to-$1.
The idea stems from a New York Times opinion piece Buffett wrote last August in which he said the rich ought to pay more taxes. It sparked an instant controversy, with some Washington conservatives calling on the 81-year-old “Oracle of Omaha” to voluntarily pay extra.
Maybe the Republicans should respond by pledging to match dollar-for-dollar any money Buffett pays the government, without objection, on what the IRS says his companies owe.
Just for fun though, let’s assume every member of Congress took up Buffett on his offer and kicked in his or her entire net worth in order to reduce the national debt. That would be about $2 billion. Buffett would match (in actuality Buffett would get out of about half of this on a technicality because he only said he’d match Republican contributions, but let’s pretend that’s not the case). That would make the total debt-busting haul $4 billion. Enough money would have been raised to keep the government running for maybe half a day — or to fund eight more Solyndras (not counting the whistling robots).
*****
**Written by Doug Powers
Twitter @ThePowersThatBe
See what others have said
Note from Michelle: This section is for comments from michellemalkin.com's community of registered readers. Please don't assume that I agree with or endorse any particular comment just because I let it stand. A reminder: Anyone who fails to comply with my terms of use may lose his or her posting privilege.
Comments
You must be logged in to post a comment.
 |
GOP Texas primary fight: Desperate Dewhurst slimes conservative challenger Ted Cruz
May 25, 2012 07:31 PM by Michelle Malkin
8 CommentsWho’s funding Brett Kimberlin?
May 25, 2012 01:52 PM by Michelle Malkin
29 CommentsObama’s Land of the LOST
May 25, 2012 01:42 PM by Michelle Malkin
56 CommentsObama’s latest campaign angle: I’ve been saving America from wild Republican debts
May 24, 2012 04:33 PM by Doug Powers
55 Comments
Senate finally passes a budget approves bill striking word ‘lunatic’ from federal law
May 24, 2012 11:22 AM by Doug Powers
193 CommentsStammertime: Jay Carney asked if Chicago protests have soured Obama’s support for OWS
May 23, 2012 07:44 PM by Doug Powers
54 Comments
S.E. Cupp, Hustler, and the four stages of conservative female abuse
May 23, 2012 02:13 PM by Michelle Malkin
142 CommentsPig Maher’s boy Bill Burton mocks my support of Hatch challenger Dan Liljenquist
May 23, 2012 11:37 AM by Michelle Malkin
32 CommentsFree speech blogburst: Show solidarity for targeted conservative bloggers; Update: It’s Everybody Blog About Brett Kimberlin Day; Donation fund for targets
May 23, 2012 05:59 AM by Michelle Malkin
116 Comments
Categories: Politics
JustOneMinute
» Barack, Youthful Leader!JustOneMinute
» Patterico And The Brett Kimberlin GangBabalu Blog
» U.S. Manned Space Flight in The 21st CenturyVillainous Company
» Must Read Post of the Day. Possibly, the Year
Buffett’s not worried about making Dems look hypocritical because he knows they won’t donate anything anyway.
I doubt it would last half a day at the present rate of hemorrhaging. Maybe for the congressional lunch period. With the debt over $15 trillion, that $4 billion would be roughly .00005% of the debt.
A pretty pathetic partisan prank when SEVEN OF THE TEN WEALTHIEST CONGRESS CRITTERS ARE DEMOCRATS.
Ain’t no critter like a hypocriter.
Wasn’t there some report that listed or ranked politicians based on their charity giving?
IIRC Rs were the majority in percentage of giving.
This also applies to the general public as well.
Add hypocrisy and selfishness to Ds.
Interesting that Buffett is only offering to match dollar to dollar with people who make MUCH LESS. Why isn’t he offering 10-1 or more in line with the income gap?
Better idea, Warren. Match every dollar truly CUT from the budget.
Oh my, that would cause Warren, the grand stander, angst.
Why should the Republicans pay a penny? Buffet is the only one complaining that he isn’t paying enough taxes. The Republicans merely told him that he could pay as much as he felt was fair to overcome his alleged “guilt”. I don’t think there are any Republicans complaining that taxes are too low.
Maybe he should start by paying his secretary’s taxes….
If Warren ran a company as he wishes the government to operate, that company would go bankrupt. Would he tell management of any of his companies to ‘just raise revenues’ if operating costs were too high? Or would he think it better to cut costs to bring them in line with inflows? I think everyone knows the answer to those questions.
Secondly, someone with billions asking others to match them dollar for dollar is absurd.
Thirdly, if Ron Paul were president, he would tell Warren that he is free to do as he wishes, but not to demand others do the same.
Warren should actually challenge the Republicans to cut spending and then do so in his personal life – that would be a better example for everyone. However, Warren won’t because he is a crony capitalist. He is interested in buying influence with, and favours from, government.
Warren is the type that will donate fortunes to strangers and keep alot of that money away from his family. He wants fame and a legacy and will shun his family to get it.
F*ck you Warren, you hypocritical communist.
Perhaps Warren ” The Anal Orifice of Omaha” Buffet should offer to pay Obama’s vacation travel expenses if he feels a need to give money to the government.
McConnell’s response was pretty good.
For a billionaire investor, Mr. Buffett certainly says some stupid things. Does he REALLY want to throw more of his money down the DC rathole? I doubt it!
I’m no brainiac but I suspect Warren’s getting quite a return on his investment in Washington. He says stupid things but somehow I don’t believe his money’s at risk. It’s more likely yours and mine clogging the rathole.
Warren Buffett is senile. That is the only explanation I can come up with. Because, who in their right mind would believe that what he is doing would make one SHRED of difference in our debt?? It is by opening the free market to do what they do best that we will get our country back to prosperity. You can drain the rich dry, take every last penny they have and you will do NOTHING about saving our country. It’s the JOBS, stupid!! If even Warren Buffet has lost sight of the fact, then all I can say is, he has a seriously large rip in his marble bag.
Buffet is suffering from dementia and rather than discuss his bogus offer of matching anybody’s contribution, investors in Berkshire-Hathaway should dump their investment ASAP. Buh-Bye warren.
Buffett”s “challenge” is beyond a, “come on man”, moment.
Who’s doing his thinking?
For such a rich guy Buffett is incredibly dense. He fails to acknowledge that we don’t have a revenue problem, we have a SPENDING problem. His Democrat friends are already spending 1 of every 4 dollars the economy produces. And that number is rising. Would he tolerate one of his business managers proposing a budget with 25% overhead? Not in this lifetime.
Yes. It’s all about fairness after all.
Now if only he would follow through with actions…….
As a big money investor Buffett does not really seem to understand the basic principles of investing. Rule #1: Don’t eat your seed corn. Instead of a working farm, Buffett wants to turn America into a petting zoo.
Maybe he’s trying to convince God he is worthy of heaven by preaching a redistibutionist gospel. Like Thatcher said, Socialism only works until you run out of other people’s money.
You’re right on, but I would state it like this:
If Mr. Buffett believes anyone should pay more into this system, Mr. B should demonstrate his faith in it by demanding that companies owned by Berkshire begin operating just like the government.
I like the man, but his ideas on taxes and government is just like the Silicone Valley libs: they think we should all pay more into a system that operates in a way they would never, never run their own companies.
Anybody else’s “People I detest” list growing rapidly, as is mine?
Here in Arizona, we have the magnificent Grand Canyon. According to scientists, it took millions of years to form due to erosion.
The ugly truth of its creation: the Democrats heard a rumor that there was $1.78 of others people’s money buried in that location.
Buffet is being specious. $1 is far less important to him, being the third richest person on the planet.
If I were a congressman I would hold a press conference to take him up on his offer, only I would insist the terms be as a percentage of total networth, to make it fair. Afterall, Buffet believes the rich should pay more right?
Put the ball back in his court. Then maybe some congressman will take one for the team and shut this gasbag up.
I think this is going to come back to bite buffet.
If McConnell donates 1 million (10% of 10 mil) then shouldn’t Buffer donate 5 billion (10% of 50 mil)
But for Mr Buffet to make his point he would need to give a larger percent than McConnell !!! So put up of SHUT up Mr Buffer!!!
Whoops…Buffet is worth 50 Billion not million.
Speaking of the debt. Did anyone else see the latest in the Solyndra scandal? If not here you go:
Google -warren buffett owes irs 1 billion !
66000 hits hypocrite , why don’t he pay what he owes ?
This would probably be more believable if he hadn’t hidden 35 billion in the Gates Foundation to avoid taxes.
The bottom line is, this plays well with jealous, lazy leftist idiots. It also never occurs to them how greedy socialist leaders are…D’Oh.
Sorry, cabrerski. I don’t buy it. Nothing that beautiful could have possibly been produced by socialist regressives!
Oh my, I am so impressed by Warren’s offer. Now, if Soros could just offer to cover Michelle’s make-up, clothing, jewelery, vacation, food and travel expenses, then. . .oh, I just realized, there is not enough money in the known universe to cover this.
Buffet is worth $50 billion. Let’s say the average politician is worth $1 million. Wouldn’t Buffet have to put in $50,000 for every dollar the Pols put in for this to be fair? You know – Dems always want to be fair. Buffet I’m calling you out you Skinflint.
As the Anal of Omaha is playing politics, he knows full well the dem base has no idea what he is proposing is insane. They don’t even ask themselves why not challenge all of congress not just Republicans…they love the class warfare. I don’t think The Anal is senile, he’s just a typical rich partisan hack getting richer off the giverment.
If the libs are serious about taxing the wealthy then do so and tax their wealth not their poultry yearly income while hiding their wealth from taxes…what patriots they are.
Buffet loaned Bank of America $5 billion, and BoA decided to lay off 30,000 workers. Come on Warren you effing Big Mouth, why not pay the taxes those 30,000 workers would have paid?
On January 12th, 2012 at 10:28 am, cabrerski said:
Only because the Democrats control the EPA.
Republicans would have to file an environmental impact statement before digging, and move a bunch of lizards and snakes to another area.
Yet Warren Buffett won’t pay his own taxes and dodged the “Death tax” he advocates by putting his fortune into a “trust”. Yeah… FOAD 1%r
If Buffet is such a genius, why does he live in Omaha in a house he bought in the 50s? (No offense if you’re from Nebraska…)
Gee, thanks Mr. Buffett – may we have another?
Hey Warren,
Remember when you were in a lather about you and all your make believe friends, well there a few but they are leftest droogs, not paying enought taxes and you wanted to be taxed more? Then it was recommended if you wanted to pay more taxes, you should open up that there check book and write as large an amount as you wished. But you declined and now you want the peoplethatactually pay taxes to pay more before you pay?? Hey, and how about that close to a billion, if I remember, that you owe in back taxes!!
Nice attempt to shift the conversation to “hypocritical” Republicans. The problem is reckless spending and Buffett knows that.
I’ll issue the same challenge. I don’t make enough to be considered “rich”. I’ll donate $100 for every billion Buffett contributes. Put up or shut up, Warren.
Here we go again….check out this link to Newsbusters.com regarding Buffett’s endless stream of tax B.S.
Buffett is someone who loves being in Obeyme’s shadow…and he is a lyin’ hypocrite, so he fits right in with that crowd.
http://newsbusters.org/blogs/noel-sheppard/2011/08/29/warren-buffetts-company-hasnt-paid-taxes-years-media-mum
I wish old Warren would just shut up and write a check already!
Peter Hughes – Everytime old Warren comes up in the news, I think of his son and your hilarious comment about him (more chins than a Chinese phonebook).
Dear Lord,
Thank you for Warren Buffett. He’s a great American and a great person.
I only wish the republicans could cultivate such great Americans and great people.
Instead, they cultivate people like this Doug Powers guy.
Amen,
ILMC
I don’t know about the politicians–I wouldn’t be surprised–but this is definitely true of the general public. Donations with charity coincide most closely to faith. Atheists give the very least; conservative Christians give the very most. (This is true even when you only look at non-church and non-religious-affiliated giving.)
Atheists and fellow liberals hate it when I bring this up, but it’s true.
Now what benefit does Buffet’s “challenge” provide the Democrats? I think Buffet is turning senile. A logical question to him is why doesn’t he include the Democrats. Beware of rich senile jackasses.
On January 12th, 2012 at 12:32 pm, Ilovemylatherandfroth said:
When invited to someone elses house for dinner, do you make it a habit to pick your nose and wipe your finger on the table cloth? Do you stand on the dining room table and void your bowels right there in front of all the guests? That is what you are doing here and I ask the Host and Hostess of this site to nullify and void your lothsome self from this site.
He loves the death tax however as it forces people to sell of their farms and ranches. This is a big part of how Buffett benefitted by government intrusion. Romney needs to come out and say how he and Bain are different than Buffett and his minions.
Four billion??? Yippeee! The gov’t would not have to be in the red for a whole day!!
Hey Warren how about having a nice warm glass of shut the **ck up; and realize that conservatives, unlike brain dead lemming liberals, actually understand logic and common sense.
While you’re at it, StaceyofLiberty, look at the wealth rankings for members of Congress. And these are the democrats who call Republicans hypocrites…please. Looking at this, seems like the Dems and the Repubs are pretty evenly split, at least in the House.
http://www.usatoday.com/news/washington/story/2011-11-15/congress-wealthy-1/51216626/1
The liberals I have to, unfortunately, associate with have told me many times that only “a few” Democrats are wealthy in Congress, and that conservatives constantly lie about it.
Warren….. cut the crap and write a check or commit yourself to the home.
Enough of these stupid games.
Interesting he won’t offer the same deal to loudmouth Donks both in and out of Washington who beg for their taxes to be raised.
If I were serving, I would donate at least $10,000 just to call his bluff.
RWR
http://www.rightwingrocker.co
Good call.
Never going to happen, though.
RWR
http://www.rightwingrocker.com
Buffett’s offer is COMPLETELY DISINGENUOUS.
This man Buffett’s fortune is due to:
1) Buffett’s ability to pick value stock (to his credit)
And
2) Buffett having spent a lifetime using our tax code to pay minimal capital gains taxes and almost no income taxes on his profits.
If Buffett wants to set up a challenge, how about the $31 Billion dollar write-off Buffett took when he donated appreciated shares of his company, never having paid tax gains or income tax on those shares, to the Gates Foundation…
…because Buffett believed the Gates Foundation would better spend his donated fortune than would the Federal government taking it as Estate Taxes upon his death. And Buffett gleaned a $31 billion dollar tax write-off in the process.
And how many billions has Buffett put into Irrevocable Trusts for his children and heirs so those dollars too, will not be taxed upon his death…unlike most people whose much more modest estates are taxed at time of death?
Buffett is experiencing guilt for having lived a long life exactly like he DOES NOT WISH ANYONE ELSE TO.
___‹^›__‹(•¿•)›__‹^›___
Doug, bro, you totally crack me up!
RWR
http://www.rightwingrocker.com
Buffett: “I want to pay more taxes!”
Republicans: “Go ahead!!”
Buffett: “Uhhhh, you first.”
Republicans: “You are the one who wants to pay more taxes, you nut job.”
On January 12th, 2012 at 12:32 pm, Ilovemyfistoffury said:
Dan, is that you??
In online discussion groups, this type of personality has a name: Attention Whore.
If he really cared about the outcome, he’d quietly give his money to the government and let that be the end of it.
Instead, he comes out grandstanding and making flashy statements that are completely moronic, but play well in the media.
That’s an Attention Whore.
You beat me to it. My thought exactly.
I might also mention, in conjunction with my previous post that the Bible has some sage advice about attention whores like Buffett, in the book of Matthew:
Buffet was lucky in his early days and influential in getting policies which favored his getting richer. The man hasn’t a clue how to do things without stacking the deck, using insider info or purchasing politicians. He is another spotlight whore, who likes deceiving people into thinking that he knows anything. He’s on my tar and feather list, right below Soros.
“Buffett’s Berkshire Owes $1 Billion In Back Taxes”
Until Buffet ponies up the back taxes he owes he should just STFU.
By the way, ever notice how many and how many more of the Sock Puppet Cronies are all Tax Cheats?
I see Ben Stein is suing an ad agency because of his stance on AGW.
As much as I approve of Steins view that it is God who affects weather, I think that agency has the right to hire anyone it wants.
Buffet says he’ll go 3 to 1 on McConnell.
Thus, if McConnel could raise $17 or $18B, he could literally bankrupt the horse’s ass.
There are over 300 million people in the USA, including babies and demoncrats. If we could find 30 million conservatives who could each pony up $600 to a “McConnell breaks Buffet” fund, we’d bankrupt the horse’s ass.
And here’s the best part:
When the whole thing was said and done. we’d have lowered the national debt by a whopping $68 Billion.
Or, if you prefer: *less than one half of one percent*
Proving to the liberals, once again, that soaking the rich gains you basically nothing. If we bankrupted the richest man in America PLUS tossed another $18B on that amount, we don’t even move the needle.
Liberals fear math.
Not so sure they have the right to steal his shtick, though. They use a lookalike. They may be able to do that, I’m just not sure.
Seems crummy, though.
I had considered that, and had even started typing up a post on it, but I decided that since Buffett already avoids paying his taxes, he can’t be trusted on this deal either.
FIFY
Attention lovely ladies, there is a much better source than the USA Today Tabloid. Take a gander at OpenSecrets.Org Their data is far more accurate and detailed. They track every penny in the campaigns – and where it came from, politicritter investments/returns, PACS, revolving door lobbys, and a whooooole bunch more. Related to the present discourse – take a gander at the REAL top ten wealthiest congresscritters…
Goodness, gracious, great balls ‘o fire! Seven of the top ten are Democruds! Who’d a thunk it.
Here’s another fun factoid. The Democretin like to holler about the Repubs “buying the election” with deep pocket donors and big business, right. Take a wild guess which party raises more cash in the election cycle… Geez, Nanny, you is one rich witch!
IMAO, the beauty of this is we have access to information that empowers us to call out all the BS dopey Democrat dogma on the spot – and we need to use it.
Hey Warren, you lying hypocrite, JUST WRITE A FREAKIN’ CHECK!?!
Thank you, Swede @#67!!I will mark that website in my favorites because knowledge is power.
Heck, as a percentage of net worth, I’ll take buffet up on that… I’ll donate $1, and he can donate.. (let me do the math here…)$50 billion.
Leaving us with a deficit of only 1.55 trillion…
Of course, this Marxist won’t ask DEMOCRATS to join in and pay down the national debt.
What a hypocrite.
Thanks, 1CM! Glad I could make your day.
Regards,
Peter H.
Dude, sometimes you make me wish that I were a Marine and you were a dead Taliban.
And yes, I went there. Deal with it.
Regards,
Peter H.
Henry Potter is at it again….as Jimmy said, he’s already taken over the bank, the stores…… Too bad Warren’s not in a wheelchair like his counterpart…we could see some republican pushing him off a cliff in a commercial.
I would say that the Repubs should offer the same deal to the democrats and match them dollar for dollar. And then since the GOP raised the total amount Buffet has to match the entire pot.
I would say that the Repubs should offer the same deal to the Dems and match them dollar for dollar. And then since the GOP raised the total amount Buffet has to match the entire pot.
This offer is coming from a guy who structured his estate to avoid paying even the existing rate to the Feds.
The word is hypocrite.