Grover Norquist Pledge: Crusader Fights Back Against Republicans Who Break His Anti-Tax Pledge

Anti-tax crusader Grover Norquist fought back this week against reports that influential Republicans were planning to abandon the pledge they signed for Norquist's lobbying group, Americans for Tax Reform, in order to avoid the fiscal cliff.

The pledge, which has been signed by more than 95 percent of Republicans in Congress. states that the lawmaker will never raise taxes unless the increase is accompanied by an equivalent cut in taxes somewhere else.

After Republican Representative Peter King of New York expressed his willingness to break the pledge, Norquist explained that ending the commitment was not to be undertaken lightly.

"As long as you're in Congress, you will rein in spending and reform government, not raise taxes," said Norquist. "It's not for 500 years or two generations. It's only as long as you're in the House or the Senate. If he stayed too long, that's his problem."

"I hope his wife understands commitments last a little longer than two years or something," Norquist added.

Republicans like Senators Lindsey Graham and Saxby Chambliss of South Carolina and Georgia, respectively, have also signaled their willingness to compromise with Democrats on tax hikes, a move Norquist dismissed as fantasy.

"If you had a pink unicorn, how many dollars in taxes would you raise to trade for the pink unicorn?" said Norquist.

"Since pink unicorns do not exist in the real world, it's never occurred to me to worry about the senator from South Carolina. He's not going to vote for a deal because the kind of 10-1 ratio deal he's talking about with real, iron-clad spending cuts is never going to happen."

Billionaire investor Warren Buffet, who has been vocal in his support for President Obama's plan to raise taxes on incomes over $250,000 a year, called out Norquist's uncompromising opposition to taxes as doomsaying.

"Forget about the rich and ultrarich going on strike and stuffing their ample funds under their mattresses if-gasp-capital gains rates and ordinary income rates are increased," said Buffett in a New York Times op-ed.

Norquist shot back.

"If he thinks that the government can take a dollar, and then you go to an investor who doesn't have that dollar and it doesn't affect investment--I'm sorry, that's just silly," said Norquist.

"When the government takes a dollar away from the American people, or a trillion dollars, that's a trillion dollars not available to be saved and invested. And, I'm sorry if Buffett can't see that, but that's kind of silly on his part."

Most investors agree Buffett isn't silly, and Norquist didn't seem to account for the effect of government spending of tax revenue on investment. With the federal government running a deficit, every dollar taken in through taxes is spent, cycled back into the economy for the use of taxpayers and investors.

Norquist's diatribe against Buffett continued.

"Warren Buffett has made a lot of money, some of it off gaming the political system," Norquist said.

"He invested in insurance companies, and then lobbies to raise the death tax, which drives people to buy insurance. Okay? You can get rich playing that game, but it's mostly corrupt, it's not investing, it's playing crony politics and economics. That's a shame."