Buffet vs. Koch – Who Is Right?

Buffet and Koch

A few weeks ago, the New York Times published an op-ed entitled “Stop Coddling the Super-Rich” authored by American investor and billionaire Warren Buffet. Considered the third wealthiest man in the world as of 2011, Buffet lamented, among other things, how many of his “fellow citizens are truly suffering” and concluded by suggesting a tax increase on those he defines as the “super-rich” and that the government “get serious about shared sacrifice.”

Lauded by the left, Buffet’s comments have been widely quoted by those who attempt to argue for “revenue increases” for the federal government and who scoff at the Tea Party’s push to cut spending. Surely if Warren Buffet insists that his taxes be raised, then there should be no excuse for other wealthy individuals in this country not to take part in the “shared sacrifice” as well – or at least that is the rationale.

Such thinking, however, is not universal among the “super-rich” of whom Buffet appeared to elect himself as the head. Charles G. Koch, American businessman and fellow billionaire, returned fire by releasing the following statement to the National Review:

Much of what the government spends money on does more harm than good; this is particularly true over the past several years with the massive uncontrolled increase in government spending. I believe my business and non-profit investments are much more beneficial to societal well-being than sending more money to Washington.

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