Cal Thomas: Warren Buffet is wrong on taxes

Many people have made money by following the advice of Berkshire Hathaway CEO Warren Buffett. His recommendations about which stocks to buy, which to sell and where to invest (or not) have earned him the “Oracle of Omaha” title. I prefer a modern cultural version: “the Taylor Swift of Capitalism.”

Speaking at his company’s annual hedge fund shareholders gathering, the government will have to (and counting) national debt is to be reduced. He said nothing about cutting spending which remains the real problem. The debt is approaching the value of the entire U.S. economy. It does not take an economist or someone with only a minimal knowledge of economic principles to conclude that Buffett has it backward.