This Sunday, The New York Times printed an opinion piece by Warren Buffett penned, “Stop Coddling the Super-Rich.” The billionaire investor took the extraordinary step of outing fellow billionaires by openly acknowledging that his filthy rich class of friends receive such extraordinary tax breaks from the federal government — many of which they didn’t ask for and don’t need — that they think it’s time to give some back, pay a little more. He candidly states:
“These and other blessings are showered upon us by legislators in Washington who feel compelled to protect us, much as if we were spotted owls or some other endangered species. It’s nice to have friends in high places.”
Nice friends, indeed.
Meanwhile, a recent study on the effects of the recession and national foreclosure crisis on the well-being of children found that their financial insecurity is resulting in long-term health consequences. Researchers concluded that “low-income children will likely suffer academically, economically and socially long after their parents have recovered,” in part, due to unstable environments and often changing schools.
It’s a travesty how services and assistance for low-income families continue to be slashed while mega-rich billionaires rake in tax breaks that they don’t need or want. Sadly, the poor will always be scapegoats for greedy, postulating politicians looking to fill their own pockets.
We agree that Warren Buffet and his billionaire friends have been coddled long enough and they should pay their fair share of taxes. But theirs is no crisis of conscience. They know history and the consequences that ensue when poor people continue to be mistreated, suffer and grow desperate. London knows this well, too.
Image from janinsanfran, Creative Commons