Skip to comments.State of the Union to highlight Buffett rule as secretary sits in First Lady's box
Posted on 01/24/2012 8:36:19 AM PST by Sub-Driver
State of the Union to highlight Buffett rule as secretary sits in First Lady's box
By Stephanie Condon Topics Economy , Campaign 2012 , Obama Administration
Just hours after his potential Republican rival Mitt Romney revealed he paid a 14.5 percent tax rate on his $42 million in earnings in the past two years, President Obama on Tuesday night plans to use the ultimate platform -- his State of the Union address -- to charge that it's wrong to let millionaires pay so little into the system.
In his speech before a joint session of Congress tonight, Mr. Obama will offer more details of the so-called "Buffett Rule," according to White House Communications Director Dan Pfeiffer.
Last year, Mr. Obama proposed a measure he dubbed the "Buffett Rule" -- named for billionaire investor Warren Buffett -- to compel those making $1 million or more a year to pay a rate no lower than what middle income Americans pay. Taxpayers making $1 million or more often make their money through investment, or unearned, income, which is taxed at a lower rate than wage, or earned, income. Most Americans make their income through wages, which are taxed on a sliding scale that tops out at 35 percent.
(Excerpt) Read more at cbsnews.com ...
You'd think he'd invite a soldier returning from Iraq instead.....
So paying 6 million in taxes is paying so little?
Just turn the TV off during the speech. Make the stats fall and you will have impact.
SOTU is going to be an absolutely sickening display of .... well, you know what ..... from Obummer. Not watching. Instead of the “drink” game, it might have to be the “barf” game.
Warren Buffet is against what Obama proposes under use of his name. Can the governmnet use your name against your will?
Going to sit outside in the hot-tub with a bottle of wine and listen to some good music.
Keep in mind that this investments are made up of money that has already been taxed once when it was earned (probably at high rate) and now is being taxed again as invested savings.
Also keep in mind that forty percent of adults pay "zero" taxes.
To paraphrase someone:
There is no 99% taxpayers and there is no 1% taxpayers, there is only United States of America taxpayers.
The is ObamaWorld. The gubment can do whatever it damn well pleases. The Stupid Party will do nothing about it.
Back in the 60’s, the Ayres types demanded that no CEO be allowed to make more than ten times the wages of the lowest paid employee. Are we back to that from O and crew?
I see on Druge now that Buffett is going to make even more millions with his crony Obama rejecting the Keystone pipeline. Tens of thousands of workers won’t have jobs because of this... but, hey, who cares about them? We have the wonderful “Buffett Rule” to solve all of our problems...
How long before the president wears ads on his lapels and commercials are flashed on the back side of his tele-prompters ?
The question is “Can the govt. distribute money to charity cases better than private charities?”
Of course, if you are a socialist (D), the answer would be “yes”.
At ‘The Blaze’, they had an accountant run it several ways...assuming she made $60k a year. The highest rate they came up with, as a single woman with no children, was a little over 14%. I suppose one could add SS and Medicare taxes to it, to bump her rate over Buffet’s. Of course, Buffet’s investment money had to have been taxed at least once before, when somebody earned it as income.
Its all a cloudy argument - which most sheeple are too dense to follow. But it does bring into focus just how much freaking money we are donating to the ruling class each year....so let her sit there.
BTW, I predict the ratings for this SOTU will be lower than last year - most people are just tired of hearing him.
I have no desire to read any article about the “First Lady’s box.”
Seated next to the former $315,000/year Chicago hospital “outreach” coordinator...
Best post on this site!!! All Freepers should be posting enmasse that no American and, I mean, no American should watch this political farce, SOTU address to be given by evil, failure POTUS Obama this evening!!! No viewers of the Obama, SOTU chat.... and the Democrat Party will show Obama the door!!! I can only speak for my wife and self.....and I can assure you, we will not give that “dirt bag”. america destroyer, POTUS Obama the right time, nor...will we watch or listen to any more of his flim/flam jive!!!
We can only suggest that the rest of the American people, and...certainly, all Freepers, Conservatives, Republicans, Democrats, Independents, Minorities and all other Americans do the same!!!
Indeed people have seen enough of his blurprint for America.
That was my first thought when I read the headline.The first lady’s box must be dark and smelly.
TV off tonight in protest
If this lady wants to enter the political arena,,then let her release her tax returns. I bet she is many times a millionaire. Buffet’s head office team is very small and handles big secrets. She probably has been getting stock options and much more.
Warren Buffett’s ‘Secretary’ Is Not Amused
I guess she IS amused now.
The “Buffett Secretary” meme is such a fraud.
If one only includes income taxes (and not Social Security and Medicare payroll taxes), a typical family of four with a typical mortgage has to earn about $110,000 to go from an incremental tax rate of 15% to the 25% bracket.
When you have a tax system based on high marginal rates and exemptions and deductions which often exceed 50% of total income of a middle class household, the marginal tax brackets are not representative of actual tax rates paid.
That said, if you include the payroll tax then the point at which a typical household federal tax burden exceeds 15% happens much sooner.
Regardless, Buffett does not have to choose to compensate himself in stock grants, stock options, and dividends from stock granted to him. He could pay himself a cash salary and cash bonuses which would be taxed at the income tax rate.