Why Does the New York Times Adore 'Legendary Investor' Warren Buffett?
There’s some strange respect shown today for one particular multi-billionaire investor in the liberal pages of the New York Times. Friday’s lead story by Nelson Schwartz, “Buffett to Invest $5 Billion In Shaky Bank of America.” introduced Buffett as “Warren E. Buffett, the legendary investor, is sinking $5 billion into Bank of America in a bold show of faith in the country’s biggest, and most beleaguered, financial institution.” Schwartz also called him “the legendary investor” in a March 23, 2008 story.
In all, Times reporters have referred to Buffett as a “legendary investor” at least nine times in its pages over the last five years, not counting several references to him as a “legendary investor” on the paper’s DealBook blog. No other investor has been hailed as “legendary” in print more than once by the Times.
The top of Friday’s Business Day section story by Ben Protess and Susanne Craig also hailed Buffett’s bounty: “Buffett’s Bank of America Stake Viewed as a Seal of Approval.”
Why would a paper traditionally hostile to business interests hail this particular multi-billionaire business? Because Buffett is the sort of rich person liberals like – the kind who demands the government make him pay even more in taxes.
Buffett previously made waves with an August 15 Times op-ed that went viral in liberal circles, “Stop Coddling the Super-Rich,” pleading for the government to raise the effective tax rate on wealthy investors like him: “Some of us are investment managers who earn billions from our daily labors but are allowed to classify our income as “carried interest,” thereby getting a bargain 15 percent tax rate....what I paid was only 17.4 percent of my taxable income -- and that’s actually a lower percentage than was paid by any of the other 20 people in our office.”
Buffett is of course free to donate directly to the Treasury Department, or take his income as salary instead of in the form of capital gains and dividends, which would raise his effective tax rate.
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Comments
Warren Buffett
Submitted by cesar.zalamero on Sat, 08/27/2011 - 7:30am.
Mr. Buffett is a major donor to Planned Parenthood. This may be the real reason that the NYT adores him.
another reason is
Submitted by ripper58 on Sat, 08/27/2011 - 7:36am.
Warren Buffett is starting to bankroll their favorite Socialist ...BARRACK HUSSEIN OBAMA !!!!
Because...
Submitted by mrt721 on Sat, 08/27/2011 - 8:54am.
He bought the 7-Day Plan.
What stops him from voluntarily paying more?
Submitted by drsamherman on Sat, 08/27/2011 - 9:16am.
Considering how rich Warren Buffett is, if he wants to give more money to the United States Treasury he needs to put up or shut up. I think all of us are nauseated over the double-standard of limousine liberals telling us they should be paying more but never making a point of demonstrating that they really are.
The Oracle of Omaha is turning more into the Eye-poke of Obama.
Because
Submitted by bkeyser on Sat, 08/27/2011 - 10:27am.
"fat cat" can't be the phrase of the week during campaign season?
Back Taxes
Submitted by Joe W. on Sat, 08/27/2011 - 10:35am.
If he is so eager to pay more in taxes, why hasn't his hedge fund, Berkshire Hathaway, paid all of its assessed taxes going back to 2003??? He's a hypocrite as well as a fat cat, crony capitalist, joined with Barack Obama at the hip.
It's obvious.
Submitted by Newsbubba on Sat, 08/27/2011 - 11:01am.
NYT wants Buffett to bail them out! Given what they are worth nowadays, he could pay for the NYT with his pocket change.
I read where the wonderful, kind hearted, warm, loving legend made about $400 million on the day he closed the deal for B of A. I'm sure that very soon we will hear that he has sent a $400 million "contribution" to the Treasury to show that he can put his money where is mouth is.
I'll hold my breath.
Wishful Thinking
Submitted by Caringwhiteguy on Sat, 08/27/2011 - 11:08am.
He may or may not be "legendary", but he doesn't make investments in companies with no chance for survival. The Times is toast.
Too Big
Submitted by HardRightTurn on Sat, 08/27/2011 - 12:16pm.
If Buffett is too big to fail, then he's too big to bail.
To more fully comprehend the Left, one must read “Leftism As Psychopathy” by John Ray, M.A., Ph.D. Caution, it might scare you a little bit.
http://jonjayray.tripod.com/psycho.html