Crony, Obama era, Fed driven economy a boon to billionaires

“Now just do everything that is written down here and you are in the club. You want to be in the club don’t you Barack?”

In a previous post we noted that if the Koch Brothers really wanted to get even richer they’d be calling for larger government not a smaller one. Big government, absolutely, indisputably works for the already rich and connected. A small government which allows room for entrepreneurs and innovation on the other hand works for the middle class and those who are willing to work hard.

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Our Corporatist President: Obama gives a shout out to crony companies in SOTU speech

Obama knows in the end who butters his bread. Obama loves him some corporations and he gave a nod to a few last night. But in the State of the Union Address the president failed to mention many of the other companies which have shown him favor and which his administration has smiled upon.


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Nice Move: House Approves a Voluntary “Buffett Rule”

OK all you billionaires out there who worry about paying a lower percentage of your income in taxes than your secretary, here’s your chance to pony up—for the country.

The House of Representatives just passed the Buffett Rule Act with a voice vote. Now Warren Buffett, Bill Gates, and Ted Turner (is he still a billionaire?) can give all they want to Uncle Sam just by checking a box and writing in a number.

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The Buffett Rule Is A Gimmick

The “Buffett Rule” would raise income taxes on those who earn over $1 million per year to 30%.

The president says (publicly) that it’s not about “fairness” or income redistribution, it is about closing the deficit. He admits that it won’t solve the problem but that the rule would be “a move in the right direction.”

Yes, that makes sense. It’s not like we have a bloated and antiquated New Dealish, centrally planned, government behemoth that gobbles up tax dollars and produces little in return or anything.

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More on the King of Cronyism, Warren Buffett

Legends don’t come much bigger than Warren Buffett. The man in Omaha, player of the ukulele, value investor, advocate of taxing the rich, friend of Barrack Obama, King of Crony Capitalism.

Wait, what was that last bit?

Yes, sadly Warren Buffett is not the advocate for capitalism and economic fair play that many of us thought he was. He is right up there, and perhaps surpasses Jeffery Imelt of General Electric, for the title of King of Crony Capitalism.

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