Buffett saving Obama? Starbucks vetoing political supporting? WOW! It was too much to take in. When I did process it though, I begin to understand. It is crazy. Let me walk you through my conclusions.
Here goes the summary, ready? Starbucks CEO decides to help Washington to refocus on relevant matters that will help America become better. He decided to hit them in their bank books. No more contributions till they basically ‘grow up’. To make sure everyone was listening, he started to recruit other CEOs for the band wagon. So the stakes go up? Of course they do. However, his cause is noble because he wants to help the American public.
Now, we have another respectable businessman trying to help as well. Warren Buffett is a man I have come to respect, which says a lot considering I am so particular. He is basically begging to be taxed by the Government. He is saying stop with the special treatment and relieve the tax burden on regular American folks. He went as far as to call Congress ‘billionaire friendly’. How can you argue at this point? Well, let me give you a little bit more of the story.
Buffett wants the income and investment taxes increased on individuals that are making more than $1 million annually. Uh oh Scooby! This means wealthy individuals would carry more of the burden tax wise. When Buffett explained that he only paid 17% of his taxable income in taxes, it seemed like quite a bit of change. However, he states that people in his company are paying 30% or more of their taxable income. I begin to see what he means.
Here is the more interesting part of the stories lately. Obama is getting a fundraiser sponsored by Buffett himself. Without emotion I can say this, is that really wise? I can understand having Obama around for another term would help with the leadership stability. However, would it no be better to have someone else that could do a better job?
So will higher taxes for the wealthy make our recovery even slower? I believe that the need for money to be spent to survive and make more money would not hinder economic growth. Money is a necessary evil that you can't do without.
Will Starbuck’s CEO rallying for stronger leadership be heard? Oh I think having a 100 CEO’s behind you may get someone’s attention in Washington.
I can conclude this:
- Having big business show they care about what is happening with America’s economy is encouraging.
- Having Washington do something other than argue makes me hopeful.
- Having Warren Buffet host fundraiser for Obama makes want to wait and see what happens with their relationship.
Overall, we are all in the same boat. I know that there are some out there that don’t have life jackets if our boat does a Titanic. So I think I will make sure to have my life jacket and two more, just incase someone floats by.