Posted on 04/11/2012 7:07:58 PM PDT by tobyhill
President Obama admits it: His proposed “Buffett Rule” tax on millionaires is a gimmick.
“There are others who are saying, ‘Well, this is just a gimmick. Just taxing millionaires and billionaires, just imposing the Buffett Rule, won’t do enough to close the deficit,’ ” Obama declared Wednesday. “Well, I agree.”
Actually, the gimmick was apparent even without the president’s acknowledgment. He gave his remarks in a room in the White House complex adorned with campaign-style photos of his factory tours. On stage with him were eight props: four millionaires, each paired with a middle-class assistant. The octet smiled and nodded so much as Obama made his case that it appeared the president was sharing the stage with eight bobbleheads.
And if that’s not enough evidence of gimmickry, after his speech Obama’s reelection campaign unveiled an online tax calculator “to see how your tax rate stacks up against Mitt Romney’s — and then see what the Buffett Rule would do."
(Excerpt) Read more at washingtonpost.com ...
College Dummies Gone Wild.
So what’s the ratio? All the taxes collected in one year by demonizing the so-called rich is equal to what....a few days of out-of-control-Obama spending?
What happens to the Municipal bond market under the Buffett Rule? The Buffet Rule is a War against every City, County, and School District in America. ALL OF THEM will have higher borrowing costs. Someone with more acumen than I should calculate the dollar damage to local governments.
So in the mind of the Liberal taxes are not to raise revenue they are to redistribute and give social justice.
Buffett Rule ,total waste of time and that’s the only thing Obama’s good at
If you enforced the Buffet rule for 250 years (Today’s dollars) it would only pay last years deficit.
Buffett is a fraud!
Obama only paid 26% on 1.7 Mil.
He is 9% under the Bush Rates.
The purpose is not to raise more revenue.
The purpose is to be able to spend more.
Obama himself rejects paying his fair share and paid 9 percent less than the Bush Rates.
What galls me is how dare Obama say Reagan was for taxing the rich and that he (Reagan) was a Class Warrior. How DARE he!
Obama is from the Captain Renault Wing of the Dem Party. In other words, the entire party is full of hypocrite Vichys.
Sometimes I wonder if it might be true that for every person who has more than their “fair share” of wealth, perhaps there is another person who has more than their “fair share” of free time. Just sayin’.
The Buffet Rule is to owe the IRS $1,000,000,000 for back taxes as Buffet does!
US GNP is $15.5 Trillion.
US and State government current annual cashburn/spend = $17.6 Trillion
They can tax at 100% of everybody’s everything and not have enough to cover spending.
Nevermind the deficit that will never be repaid of $15.6 Trillion on top of the current spend.
The millionaire tax is pure unadulterated bullshit.
There are others who are saying, "Well, this is just a gimmick. Just taxing millionaires and billionaires, just imposing the Buffett Rule, won't do enough to close the deficit"... Well, I agree.Thanks tobyhill.
Thanks Vintage Freeper for posting this:
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