Friday, January 27, 2012
Warren Buffet's Been Working on the Railroad
Here's Warren Buffet Singing "I've Been Working on the Railroad" on Chinese TV. How appropriate is that? Warren's buddy, President Obama just effectively canceled the Keystone Pipeline Project. This means the Canadians will build a pipeline to the west coast and sell the oil to China - that or ship it south on the Burlington Northern & Santa Fe Railroad. Wanna guess who owns it?
Warren Buffet's Berkshire-Hathaway group owns big old chunks of BN&SF Railroad - the railroad that will have to carry all that Canadian oil now that the Keystone Pipeline isn't happening. It only cost 126,000 direct and indirect jobs and adds to the cost of transporting oil to the US.
No wonder the Warrenator doesn't mind paying a little higher tax rate. He just got the job of transporting all that Canadian crude at $2.50 a barrel (almost twice as expense as the pipeline's $1.50 a barrel cost). Doing the little, "Lets us filthy rich folk pay some more taxes!" shuffle-dance for Mr. Obama got him huge new profits.
It's like the president's state of the union speech. It sounds good, but when you lift up the rock there's all sorts of nasty stuff under there - like Uncle Warren's Sweetheart Deal.
And guess who gets to pay for Uncle Warren's windfall?
Yep, you guessed it.. Back up to the pump Americans and bend over. Uncle Warren is definitely workin' on the railroad.
How is it that every time the Dems start wailing about not taxing the rich, the next thing they do is make some sort of shady deal that helps the filthy rich who donate to their campaigns make massive potfuls of money. They push through this big old bailout and the bankers and CEOs were suddenly getting solid gold parachutes, and all the while the little guys that owned stock or had accounts with them were getting stiffed, not to mention the taxpayers. When you've got people like Bernie Madoff as an "A-List" Democrat, it makes you kinda wonder just how sincere the folks who invented the tax loophole are about soaking their rich patrons.
I'm just sayin'