Obama Patron Warren Buffett Buys Over $500 Million of Suncor Tar Sands Stock

By: Friday August 16, 2013 3:20 pm

Warren Buffett – the fourth richest man on the planet and major campaign contributor to President Barack Obama in 2008 and 2012 – may soon get a whole lot richer.

That’s because he just bought over half a billion bucks worth of Suncor Energy stock: $524 million in the second quarter of 2013, to be precise, according to Securities and Exchange Commission filings. Suncor is a major producer and marketer of tar sands via its wholly owned subsidiary Petro-Canada (formerly Sunoco) and this latest development follows a trend of Buffett enriching himself through dirty investments and deal-making.


Former Clinton and Bush Cabinet Members, Now Oil and Gas Lobbyists, Expect Keystone XL Green Light

By: Sunday November 18, 2012 7:45 am

The Tar Sands Blockade of TransCanada Corporation’s “Keystone XL South” continues in Texas, but former members of the Clinton and George W. Bush cabinets believe the northern half will soon be green-lighted by President Barack Obama.

In a Nov. 13 conference call led by the Consumer Energy Alliance (CEA), an oil and gas industry front group, CEA Counsel John Northington said he believes a “Keystone XL North” rubber stamp is in the works by the Obama Administration.

“I think the Keystone will be approved in fairly short order by the administration,” Northington said on the call.

Buffett Purchases $2 Billion Solar Farm in California

By: Wednesday December 7, 2011 4:21 pm

Maybe Warren Buffett’s purchase of a California solar farm will finally force a recognition of the potential of solar energy from an economic standpoint. Since the dissolution of Solyndra, oil-besotted conservative lawmakers have dismissed this potential, saying that the industry was simply unprofitable. When Buffett makes an investment, that becomes a harder sell.

Who Gets Capital Gains: A Tax Code Built for the Richest of the Rich

By: Monday November 21, 2011 12:00 pm

An article in Forbes reveals those at the top 0.1 percent in personal income in the country captured about half of the capital gains, which are currently taxed at just 15 percent. That makes this a prime mechanism for creating and increasing income inequality.

Here Is Class Warfare

By: Monday September 19, 2011 7:15 pm

So apparently, the phrase of the week from Republicans is “Class Warfare!” as a response to President Obama’s proposal for a new Millionaire’s Minimum Tax. Paul Ryan and Lindsey Graham both used the phrase yesterday on the Bobble head shows.

Obama Proposes Replacing AMT with Millionaire’s Minimum Tax

By: Sunday September 18, 2011 4:00 pm

This millionaire’s minimum tax also seems like a clever way to eliminate the “carried interest” loophole, where income from money managers is taxed at the capital gains rate of 15% rather than the top marginal income rate of 35%.

Republicans Not Enamored of Buffett’s Progressive Taxation Plea

By: Wednesday August 17, 2011 8:59 am

If this is the best they’ve got, this childish “If you like high taxes rates so much, why don’t you marry them?” argument, they don’t have much at all. Hilariously, some flak at Heritage tries the idea that Buffett “downplays the role taxation plays in investment decisions.” Because what would Warren Buffett know about investment decisions?

Warren Buffett Makes the Case for Progressive Taxation

By: Monday August 15, 2011 9:00 am

Tax policy that favors the rich has an enormous impact on public policy, with everything run through corporate and wealthy elites. In an impressive rant, Steven Pearlstein shows how this worked, with the rich creating the conservative monster and financing the radical movement which has relentlessly pushed the economy to the brink of disaster. So there’s definitely value in progressive taxation, even if that may not be true at this particular point in time. And when forced to choose between progressive taxation and spending cuts, it’s really no contest.

Why Unemployment Makes the Tea Party Happy

By: Thursday July 14, 2011 10:30 am

Their irresponsible position is that corporations and billionaires should not have to share the sacrifices needed to keep our economy on track for recovery. That is why they vehemently oppose efforts to cut corporate welfare and to eliminate subsidies for the oil companies. Unlike most Americans, who believe we should pull together to find real solutions, these politicians are intent on dividing Americans by destroying programs that have broad public support. At the same time, they have done all in their power to create instability in the economy and put more Americans out of work.

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