Skip to comments.Melanie Sturm: Think Again (Is the Buffett Rule Fair or a Farce?)
Posted on 03/01/2012 5:48:33 AM PST by Aspenhuskerette
The higher up in the tree the monkey goes, the more of his backside that shows, goes the maxim. It would be hard to climb higher than Warren Buffett, the world's most celebrated investor. However, as the namesake of the Buffett Rule that imposes higher tax rates on the wealthy, Buffett and his backside dangle precariously out on a limb.
Residing atop Buffett's tree is New Jersey Gov. Chris Christie, known to deliver the best rhetorical broadside, probably because of his broad backside. Last week, Christie buffeted Buffett, forcing him to Think Again.
After two years of traumatic budget austerity, Christie's 10 percent tax cut for all New Jerseyans is central to his fiscal revival plan.
(Excerpt) Read more at aspentimes.com ...
I think Christie summarized it best when he told Buffet “shut the hell up and write a check”.
OUTSTANDING article! Thanks for posting.
"Everything about socialism is sham and affectation." - 23.11 Ch23; Evil; Economic Harmonies; Frederic Bastiat 1801-1850
DEFUND socialist collectives, foreign and domestic.
The BUFFOON rule.
The Buffoon rule.
Thanks for this thread.
Melanie, Melanie, Melanie, - - - . When you wrote “ - - - Even the 49.5 percent of Americans who aren’t currently paying federal income taxes a status for which they’re wrongly disparaged since other taxes they pay support government (state, payroll, property, sales, gas) - - - “ it brings to mind whether or not you have violated the Sacred Rule called “The Fairness Doctrine.”
Incendiary phrases such as “wrongly disparaged” and “they pay to support government” are horrific to those who believe that “everyone must pay their fair share.”
My understanding of the Buffet Rule is that once a company is absorbed in Berkshire Hathaway, none of the B. H. shareholders get any more income from owning the stock shares of B. H. To get any appreciation from B.H., the shares of stock has to be sold. Warren takes your money, until you ask for it back.
The US Federal Government operates in a similar way in that we pay our personal FIT, and then are given our share of the increased debt that the Federals use to buy more votes.
The difference between Buffet’s B. H. and the Federals is that we can cash out of B. H., but we can’t cash out of the US Federal Government.
Neither pay dividends, unless you are part of the 49.5 % Federal workers who freeload off of the rest of us.
Even Bolshevik Chairman Obama, a true believer in the Scared “Fairness Doctrine,” must be stunned to learn that there exists a “vast left-wing pool of freeloading workers” that somehow have avoided being forced to “pay their fair share” of personal FIT.
If only these personal FIT freeloaders would just “pay their fair share” the Federal Budget would be balanced in a Chicago Gangsta’ Minute!
Make up your mind, Melanie, on the one hand you rail against the idea of “soak the middle class,” but also find the freeloaders to be “wrongly disparaged.” Where do you stand?
As a conservative, I don’t think the problem is that not enough Americans pay taxes. Actually, I think that too many Americans pay taxes. I’m sure you’d agree that it would be better for 0% of Americans to pay federal income taxes, as was the case pre-1909. The problem, therefore, isn’t too little tax revenue, it’s too much government expenses — too many people are benefiting from a government that is doing too much. Cut the government and confine it to it’s original purpose — to provide for the common defense and insure domestic tranquility — and the need to tax so much diminishes.
” - - - As a conservative, I dont think the problem is that not enough Americans pay taxes. “
As a Conservative, you and I must agree to disagree.
The odds are excellent that there won’t be much to Conserve after another 4 years of Bolshevik Dictator Obama.
In fact, since our sorry Congressional RINOs refuses to Impeach the very incompetent Obama, it is likely that we will have all Democrat Presidents for the rest of this century.
In my humble, but ALWAYS correct opinion, most of the 49.5 % of workers who pay no personal FIT will vote for the Obamanator to keep their FIT taxes at ZERO.
Most of the ethic minorities will block vote for their favorite Dictator.
Most of the Democrats will vote for their Nobel Peace Prize winner.
So, ( 49.5 % X 51 % ) + (80% X 12 %) + (60 % X 15 % ) + ( 90 % X 20 % ) = 25.2 % freeloaders + 36.6 % base.
I’ll leave it to you and the lurkers to figure out who in the base will not be double counted as freeloaders also.
BTW, I forgot to add in the Unions, OWS, Sierra Club, University professors, University students, etc.