Warren Buffett is a perfect example of front door and back door politics. In his front door proclamations Buffett invites American citizens to fawn over Barack Obama, to support Obama's redistribution polices of take from the rich and give to the poor. Buffett even says the rich should pay more. Of course, he actively skips paying taxes because he doesn't generally sell his holdings and take capital gains, for which he would have to pay taxes.
That is Buffett's front door politics, His true "back door" politics is completely different. Buffett is counting on Obama being re-elected and is therefore making the assessment that consumer companies, Johnson and Johnson, Procter and Gamble etc. stock values will collapse in the coming turn down in the Obama's second term. So Buffett and a gaggle of other billionaires are dumping consumer stocks betting that consumer confidence and the stock market will plunge after January 1, 2013 because of the looming fiscal cliff.
So what Buffett is doing is telling everybody to vote Obama while he is taking his money and running for the hills. Berkshire Hathaway has to report major stock transactions. Take a look and see how Buffett is using the back door to get out while he can.
Buffett's bluff has been called, though, by the House when it just passed a bill that allows American to voluntarily pay more taxes to reduce the national debt. I would bet Warren dinner at the Northwood Inn in San Gabriel, CA that he won't pay more taxes than is required. He will continue to take as many deductions as is legal.
The crux of the matter, though, is that Buffett is getting out the backdoor as illustrated by his stock transactions while telling the rest of us to blithely step off the fiscal cliff January 1st.
Newsmax points out that not only Buffett is fleeing stocks. John Paulson and George Soros are fleeing. Soros recently just upped his Gold position by a ton. What do these Billionaires know that we don't. Actually, nothing. We Americans know this situation too. It's painfully obvious. If Obama is re-elected, he will finish the job of destroying America's economy.
But it is completely disingenuous of Buffett to preach lies from his rich man's front door and then escaping out the back door with billions taken from everyday Americans who believed his front door lies. The most dire of predictions say that the stock market could drop by 90%. Soros is doing everything he can to make that happen, along with Buffett.