I hate to pick a fight with the sage of Omaha, but in an otherwise admirable New York Times Op-Ed that offered a new version of his idea for a minimum tax for the wealthy, Warren Buffett embraced (inadvertently, I'm guessing) spending and revenue goals for the federal government that would kill any agenda for American renewal in its cradle.
Because Buffett's voice is so sane and generally credible — especially with businesspeople and with President Barack Obama — his proposed targets, if influential, could prove damaging. For the reasons I'm about to lay out, I hope he'll rethink.
Buffett argues that "our government's goal should be to bring in revenues of 18.5 percent of gross domestic product and spend about 21 percent of GDP — levels that have been attained over extended periods in the past and can clearly be reached again.