I’m sorry, but why are so many people surprised that Warren Buffett has proved—one more time—that he is a massive hypocrite, whose only allegiance is to what makes Warren Buffett and his companies rich?
Buffet has used his disingenuous talk about not paying enough in taxes (while refusing to pay billions the government says Berkshire Hathaway owes, and sending an army of lawyers to help him keep from paying them) to cozy up to an Administration whose decisions have made him a lot of money. He has plainly used his allegiance to Barack Obama to support his favorite cause: Warren Buffett. As Bloomberg reports:
Billionaire Warren Buffett was an ally of President Barack Obama during the 2008 presidential campaign and the force behind Obama’s “Buffett Rule,” designed to increase tax bills for the wealthiest Americans.
Now, the second-richest man in the U.S. has dented Obama’s effort to stamp out corporate inversions.
Buffett’s financing of Burger King Worldwide Inc. (BKW)’s $11.4 billion purchase of the Canadian fast-food chain Tim Hortons Inc. (THI) challenges Obama’s argument that inversions are unpatriotic and gives defenders of the practice leverage to make their case.
A White House official, who requested anonymity to discuss policy still being formulated, said the administration won’t comment on specific deals and remains committed to its proposal for a revamp of the tax code and a crackdown on inversions.
The Burger King deal tests the long-held assumption of anti-inversion activists that the American public and politicians wouldn’t stand for a name-brand, consumer-facing company moving its headquarters across the U.S. border to pay a lower tax rate.
Buffett long ago rejected the freedom-supporting financial views of his father in favor of what’s good for him–and for big bankers and politicians–and toxic for the average American. Buffett is definitely shrewd and folksy, but no moral paragon and absolutely not a friend of free markets. They say “the apple doesn’t fall far from the tree,” but in Warren Buffett’s case that is clearly not true. He fell, rolled into a dark, damp hole in Omaha, and has been rotting away in the pursuit of wealth-at-any-cost—including the loss of freedom—ever since. Warren needs to meet the Messiah, the real one, not the pretenders.