Keyword: buffetrule

Brevity: Headers | « Text »
  • Obamas pay $98,169 in taxes on income of $481,098

    04/11/2014 2:37:48 PM PDT · by kingattax · 31 replies
    Yahoo/AP ^ | 4-11-14 | DARLENE SUPERVILLE
    WASHINGTON (AP) — President Barack Obama and Michelle Obama paid $98,169 in taxes on $481,098 income last year, tax returns the White House released Friday show. They paid an effective federal income tax rate of 20.4 percent and donated significantly less to charity than they did the year before. The 42-page document, which included the couple's Illinois state income tax return, shows the Obamas reported donating $59,251 to 32 charities, which helped lower their overall tax bill. The nearly $60,000 in donations represents 12.3 percent of their adjusted gross income.
  • The 'Buffett Rule' Should Be Known As The 'Buffett Ruse'

    05/02/2012 6:34:51 AM PDT · by SeekAndFind · 10 replies
    IBD ^ | 05/02/2012 | REP. CHUCK FLEISCHMANN
    President Obama insists his so-called "Buffett Rule" — which cannot even pass the Democrat-controlled Senate — is a serious proposal, not just an election-year gimmick. Let's consider the facts. If enacted, the IRS would take 30% of every dollar earned by a targeted subset of the population — in this case, people earning more than $1 million per year. We're told this is necessary because highly successful Americans just aren't pulling their weight or paying their fair share. This line of reasoning begs the question: Is it fair for the IRS to take 30% of anyone's paycheck? Keep in mind...
  • Freep a Poll! (Do you favor the "Buffet Rule", adding tax surcharge to millionaires?)

    04/23/2012 3:19:22 PM PDT · by dynachrome · 18 replies
    Kipplinger.com ^ | 4-23-12 | Kipplinger
    President Obama favors the so-called Buffet Rule, which would impose a tax surcharge on people with gross adjusted income over $1 million, eventually reaching 30 percent..What do you think? Agree Disagree Not sure
  • Now that the Buffett tax is dead (or is it?), what was it based on?

    04/18/2012 10:29:38 AM PDT · by Mark Landsbaum · 7 replies
    Defeat in the Senate of the class warfare bill known as the Buffett Rule, gives conservatives something to crow about, liberals something to whine about and the president something to campaign on in his reelection campaign. The latter was probably the intention all along. But the almost religious desire to soak the rich has become pathological among Democrats and leftists. Two ballot initiatives in California would pile on, and you can bet we haven’t heard the last of Barack Obama singing the praises of disproportionately taking money from people who make more than you do. What’s behind this, other than...
  • George Washington Would Be Too Rich To Be President Re: Obama

    04/17/2012 6:12:11 AM PDT · by joeclarke · 14 replies
    JoeClarke.Net ^ | 04/17/2012 | JoeClarke.Net
    I cannot think of a better community organizer than our founding President George Washington. His charge to organize thousands of non professional soldiers to fight a war against the well trained and well equipped Brit Redcoats had to be at least as difficult as President Obama's tireless efforts to round up fellow travelers on the south side of Chicago to harass banks for not lending to people who could not repay loans. Although, we know nothing about Obama's early financing, except that it probably was gifted to him by a sheik, or two, George Washington married into money through his...
  • Republicans reject 'Buffett rule' in the Senate (51 to 45)

    04/16/2012 4:37:19 PM PDT · by Red Steel · 117 replies
    latimes ^ | April 16, 2012, 4:18 p.m. | Lisa Mascaro
    Reporting from Washington— Republican-led opposition blocked the 'Buffett rule' from advancing in the Senate, turning back an election year effort by President Obama to slap a new tax rate on those earning beyond $1 million a year. Nearly all Republicans voted against the measure, a potentially risky move at a time when 60% of voters support the measure, according to a recent Gallup poll, as a way to ensure wealthy Americans pay their fair share of taxes. Democrats are likely to revive the effort in coming months. “Continuing to allow some of the wealthiest Americans to use special tax breaks...
  • Conjuring Up Memories Of Ronald Reagan

    04/16/2012 6:36:07 AM PDT · by evilrooster · 8 replies
    Looks like The Daily Kos and the likes have received their marching orders...President Obama is no different than Ronald Reagan. Check out their latest propaganda! I suppose this will play on  throughout the election cycle.While we've already picked apart the liberal argument that Reagan would have supported the "Buffet Rule", I say god bless or liberal friends...because "they know so much that isn't so" (no pun intended)!Stretching the truth may give you a temporary polling bump,  but that bump fades when people are reminded of the biggest difference between Ronald Reagan and our current leader...RESPECT. Respect from not only Americans but from  those...
  • Millionaires from Mass. join call to raise their tax rates

    04/16/2012 4:17:09 AM PDT · by GQuagmire · 63 replies
    Boston Globe ^ | April 16, 2012 | Callum Borchers
    Philippe Villers was a little boy in 1940, when his family escaped from Paris only hours before the Nazi invasion and immigrated to the United States. From the harrowing flight of a wartime refugee, Villers went on to earn degrees from Harvard and MIT and to cofound Computervision, a former Fortune 500 company that made him rich. “This country has been good to me,’’ Villers, 76, said. “I’d like to do my part to give back.’’ As part of his effort to give back, Villers has made an unusual request to the federal government: Raise my taxes, please. Villers is...
  • Obama: Buffett Rule Will Boost ‘Growth’(!!??)(A D*mn*ble Lie)

    04/14/2012 7:03:59 AM PDT · by lbryce · 15 replies
    The Hill ^ | April 14, 2012 | Meghashyam Mali
    President Obama used his weekly address to continue pressuring lawmakers to pass his "Buffett Rule” proposal, saying the measure would make the tax code more fair and help fund needed investments to grow the economy. "As many Americans rush to file their taxes this weekend, it’s worth pointing out that we’ve got a tax system that doesn’t always uphold the principle of everyone doing their part," Obama said in the address posted online Saturday. "This is not just about fairness, this is also about growth,” he added. “It’s about being able to make the investments we need to strengthen...
  • Obama paid lower tax rate than secretary

    04/13/2012 5:35:31 PM PDT · by KSanders · 34 replies
    foxnews.com ^ | April 13 2012
    President Obama and first lady Michelle Obama had a combined income of $789,674 in 2011 but paid a lower tax rate than the president's secretary, who made less than $100,000, the White House confirmed Friday. The Obamas paid an effective rate of 20.5 percent. White House aides would not reveal presidential secretary Anita Breckenridge’s tax rate but confirmed it was higher than the first family's rate. Breckenridge earned $95,000 last year. The Obamas' rate is less than the 30 percent the president wants millionaires to pay under his proposed Buffett Rule.
  • Obama Family Tax Shelter - (First family transfers wealth, avoids taxes)

    04/13/2012 1:48:15 PM PDT · by Beaten Valve · 33 replies
    Washington Free Beacon ^ | April 13, 2012 | Free Beacon Staff
    President Obama and his wife, Michele, gave a total of $48,000 in tax-free gifts to their daughters, according to tax records made public on Friday. The president and his wife separately gave each daughter a $12,000 gift under a section of the federal tax code that exempts such donations from federal taxes. There is nothing illegal about the president’s taking advantage of this tax shelter, but it does raise eyebrows given that he has lamented the myriad tax exemptions used by the wealthy—“millionaires and billionaires” like himself—to pay less in taxes. He has yet to propose a comprehensive plan to...
  • Obama: Thank You For Not Asking About My Tax Hikes on Families Making Less Than $250,000

    04/12/2012 9:09:15 AM PDT · by 92nina · 4 replies
    ATR ^ | 2012-04-10 | John Kartch
    Stumping for his “Buffett Rule” tax increase in Florida today, President Barack Obama said the following: “For those people who make under $250,000 a year – like 98 percent of American families do – then your taxes don’t go up.” – Barack Obama, April 10, 2012 But since taking office, President Obama has signed into law at least seven new or higher taxes on families making less than $250,000 per year. President Barack Obama’s central campaign promise – a “firm pledge” against “any form of tax increase” on families making less than $250,000 per year – was shattered when he...
  • What difference does Obama's 'Buffett Rule' make?

    04/13/2012 5:54:08 AM PDT · by Dudoight · 11 replies
    Blog ^ | 4/12/12 | Political Math
    President Obama and Democrats have been talking up the Buffett Rule (a minimum 30% tax on people making over $1 million per year) for some time now. So what kind of difference does the Buffett Rule make? I've seen revenue estimates between $30 billion and $40 billion over 10 years, but what kind of difference would that make in the scope of government finances? Not too much.
  • The Buffett Rule would bring in less than $3 billion a year in revenue

    03/20/2012 2:56:40 PM PDT · by SeekAndFind · 5 replies · 2+ views
    Hotair ^ | 03/20/2012 | Ed Morrissey
    Barack Obama has spent the last seven months demanding a surtax for the wealthy as a needed revenue resource to balance the federal budget and restore "fairness" to the tax system. In making that case, Obama has often used the anecdote provided to him by multibillionaire Warren Buffett and how his secretary pays a lower tax rate than he does --- although Obama rarely explains that the difference comes from lower tax rates on risk-related income rather than salary, which rewards and encourages further risk-taking and boosts the economy. Now the Joint Committee on Taxation has scored Obama's Buffett Rule,...
  • Obama’s Silly Buffet Rule (it doesn’t address the deficit or inequality)

    01/31/2012 5:01:35 AM PST · by SeekAndFind · 10 replies
    National Review ^ | 01/31/2012 | Rich Lowry
    President Barack Obama is making his reelection about raising the taxes of an Omaha billionaire who is volunteering for the honor. The so-called Buffett Rule to make millionaires and billionaires pay at least 30 percent in taxes is such an obvious exercise in poll-driven populism, it should come with cross-tabs attached. It shows that as an economist, David Axelrod is a hell of a political consultant. It is a non-solution to a non-problem, the intellectual basis of which is a badly distorted anecdote repeated over and over. By now, if you haven’t heard that Warren Buffett pays a lower tax...
  • The Harsh Realities Of a Buffet Tax

    01/30/2012 6:46:56 AM PST · by SeekAndFind · 3 replies · 1+ views
    Real Clear Markets ^ | 01/30/2012 | Robert Samuelson
    Whatever else they are, the super-rich have now become political props. We can thank President Obama and Mitt Romney for this. Obama thinks he can ride resentment against the rich into the White House for a second term; and Republican Romney's fortune, estimated at $190 million or more, qualifies him as super-rich. By all means, Congress should pass the "Buffett Tax," named after billionaire Warren Buffett, who noted that his 2010 tax rate (17.4 percent) was about half his secretary's. The explanation is that Buffett's income comes mostly from dividends and capital gains - profits on sales of stocks and...
  • The Buffett Ruse (Obama's ploy means the highest capital gains tax rate since 1978)

    01/26/2012 4:42:53 AM PST · by SeekAndFind · 13 replies
    Wall Street Journal ^ | 01/26/2012 | The Editors
    Remember the moment in 2008 when Charlie Gibson of ABC News asked Senator Barack Obama why he would support raising the capital gains tax even though "revenues from the tax increased" when the rate fell? Mr. Obama's famous reply: "I would look at raising the capital gains tax for purposes of fairness." Well, we were warned. Here we are four years later, and President Obama on Tuesday night linked the term "fair" to U.S. tax and economic policy seven times. The U.S. economy is still hobbling out of recession, real family incomes are falling and 14 million Americans are unemployed,...
  • Obama's Hypocrisy: Making Warren Buffett Richer

    01/25/2012 5:16:10 PM PST · by raptor22 · 12 replies
    Investor's Business Daily ^ | January 25, 2012 | IBD staff
    Hypocrisy: As the great investor's secretary sat with the first lady at the State of the Union, the president spoke of economic "fairness." Is it fair to make a supporter wealthier at the expense of the American people? During the 2008 campaign, candidate Barack Obama cited billionaire Warren Buffett as one of his economic muses. In the 2012 State of the Union address Tuesday night, the president returned to his advocacy of the "Buffett rule," a proposed minimum tax on millionaires and billionaires. To highlight his theme of "fairness," there in the first lady's box sat Buffett's secretary, Debbie Bosanek,...
  • State of the Union to highlight Buffett rule as secretary sits in First Lady's box

    01/24/2012 8:36:19 AM PST · by Sub-Driver · 24 replies
    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...
  • Bill Gates Laughs At Buffett Rule: 'You Can't Raise Taxes We Need Just By Going After That 1%'

    10/31/2011 9:07:02 AM PDT · by SeekAndFind · 23 replies
    Newsbusters ^ | 10/31/2011 | By Noel Sheppard
    America's richest man isn't going to make President Obama, the folks in the Occupy Wall Street movement, or their respective supporters in the media happy. Appearing on ABC's This Week Sunday, Bill Gates laughed when asked about the Buffett Rule saying, "You can't raise the taxes we need just by going after that one percent...to really deal with the deficit gap we're talking about, that alone just numerically is not going to be enough" (video follows with transcript): CLICK ABOVE LINK FOR THE VIDEO CHRISTIANE AMANPOUR, HOST: The Buffett Rule, for instance, and all the other proposals the president is...
  • GOP introduces its own Buffett Rule: Add explicit donation option to tax returns

    10/13/2011 1:18:39 PM PDT · by SeekAndFind · 11 replies
    Hotair ^ | 10/12/2011 | Tina Korbe
    Technically, nothing prevents Warren Buffett and other “Patriotic Millionaires” from donating money to the federal government right now, but, as they continue to clamor for a higher tax rate for themselves and others, it’s easy to assume they don’t know that. Sen. John Thune (R-SD) and Rep. Steve Scalise (R-La.) have introduced legislation to ensure they do: Dubbed “The Buffett Rule Act of 2011,” the names of the bills take a mocking swipe at President Barack Obama’s own proposed “Buffet Rule,” which conversely would close tax code loopholes to ensure that Warren Buffett and those like him no longer pay...
  • LIVE: Obama Supports Millionaires Tax That's Bigger Than The Buffett Rule

    10/06/2011 8:25:53 AM PDT · by SeekAndFind · 4 replies
    Business Insider ^ | 10/06/2011 | Zeke Miller
    The White House Press Office announced that President Barack Obama will hold a press conference at 11 a.m. this morning — though no topic was announced. Obama is in the middle of a weeks-long push on his jobs bill, which is certain to take up a significant portion of the questioning. We expect him to be asked about the Occupy Wall Street protests, and the killing of U.S.-citizen Anwar al-Awlaki as well. Also expect Obama to be asked about his criticism of Bank of America's $5 fee for checking account customers and his increasingly-combative tone toward Republicans as his reelection...
  • Multi-Millionaire Harry Reid Seeks To Replace Buffett Tax Proposal With 5% Millionaire Surtax

    10/05/2011 11:48:11 AM PDT · by SeekAndFind · 14 replies
    Zero Hedge ^ | 10/05/2011 | Tyler Durden
    Confirming that one has to be a billionaire or at least a multi-millionaire to be an applicant for the Tax Czar position under the Teleprompted Wealth Readjuster, is the latest sheer class warfare idiocy out of tax expert du jour Harry Reid, who has proposed an overhaul of the Obama tax bill with one in which millionaires end up paying a 5% surtax. National Journal reports: "Senate Democrats will replace tax increases proposed by President Obama to pay for his $445 billion jobs bill with a more politically popular tax increase on millionaires, Senate Majority Leader Harry Reid, D-Nev., said...
  • Given an Opportunity to Cut Spending, the President Sings of the Buffett Rule

    10/04/2011 6:44:50 AM PDT · by SeekAndFind · 4 replies
    Forbes ^ | 10/04/2011 | Brian Domitrovic
    With the federal budget deficit cruising along at some $1.5 trillion a year – a gargantuan number – a consensus has gathered across the country that something serious has got to be done about it. Something appropriate to the magnitude of the problem. And yet what does the president propose in the thick of the discontent? The “Buffett Rule,” whereby the highest income-earners don’t pay an average tax rate that’s lower than that of their middle-class peers. Estimated revenue enhancement, even by the president’s own advisors: peanuts. It’s not about receipts, it’s about fairness. And what’s “income” again? That portion...
  • Why Obama is right to back Buffett (This old Reagan policy adviser has fallen off the deep end)

    09/27/2011 6:18:41 AM PDT · by SeekAndFind · 19 replies
    Financial Times ^ | 09/27/2011 | Bruce Bartlett
    Barack Obama last week put forward a package of tax increases to pay for a proposed $447bn jobs programme. The most controversial proposal is that no one making more than $1m a year should pay a smaller share of his income in taxes than a middle class family pays. This is popularly called the Buffett Rule, after the billionaire Warren Buffett, who has long complained that he pays a lower tax rate than his secretary, and famously came out in public recently asking to pay more.Republicans were quick to denounce the proposal as “class warfare”, and to argue that low...
  • The ‘Buffett Rule’ is bad news for tech start-ups

    09/22/2011 7:19:17 AM PDT · by SeekAndFind · 4 replies
    Washington Post ^ | 09/22/2011 | Eric M. Jackson
    NOTE: Jackson is the CEO of CapLinked, an online platform for private investing. He previously ran the marketing team at PayPal, and is the author of the award-winning book The PayPal Wars. President Obama announced a new tax proposal that sets a minimum tax rate for households with annual income above $1 million on Sept. 19. The proposal is called the “Buffett Rule” for billionaire investor Warren Buffet, who in an editorial in August bemoaned that he pays a lower federal tax rate than his middle-class employees. While time will tell if this new tax proposal makes for good politics,...
  • Chart of the Day: 'Buffett Rule' Wouldn't Bring In Much Revenue

    09/20/2011 3:40:21 PM PDT · by Qbert · 14 replies
    The Atlantic ^ | SEP 20 2011 | Daniel Indiviglio
    This week, President Obama announced a new way for the government to make more money: put a floor on the tax rates that millionaires face. He coined the idea the "Buffett Rule,"... [Snip] So how much would the so-called Buffett Rule bring in? It's hard to say, because Obama didn't define precisely how it would work. But he did say it would create a tax rate floor for those who make more than $1 million per year. So let's use 2009 tax return data from the IRS to imagine some possible scenarios for how much additional tax revenue the new...
  • Obama lies while laying out Jobs Plan

    09/20/2011 2:18:56 PM PDT · by yoe · 11 replies
    RT ^ | September 20, 2011 | Staff
    During Monday morning’s address from the White House, President Obama drove home his demands that millionaires and billionaires need to start paying higher tax rates that America’s middle class. The only catch here is that they already do. And although the so-called “Buffet Rule” from Obama looks towards correcting this gaff, it seems as if the president offered up a goof of his own. According to private and governmental data made available to the Associated Press, the wealthiest Americans pay much more in taxes than the middle class and poor, and on average pay at a higher rate and contribute...
  • Buffett’s math is a bit off

    09/20/2011 10:41:34 AM PDT · by Hunton Peck · 18 replies
    NEW YORK POST ^ | September 20, 2011 | S.A. MILLER
    WASHINGTON -- Billionaire investor Warren Buffett isn’t as undertaxed as he and President Obama seem to think. *** Buffett actually was taxed twice on his investment income. First, Buffett had to make the money he invested. Those earnings were taxed as corporate income, at about a 35-percent rate. Then, Uncle Sam took another cut when Buffett invested the money and earned a profit. That’s when Buffett paid the 15 percent capital-gains tax rate. All told, after combining corporate taxes and capital gains taxes, Buffett forked over about 45 percent of his earnings.
  • Home Depot co-founder Marcus says Buffet's support to tax rich will slow hiring

    09/20/2011 8:18:34 AM PDT · by Qbert · 22 replies
    Bizjournals.com ^ | September 20, 2011 | New Mexico Business Weekly
    Bernie Marcus, a co-founder of The Home Depot    (NYSE: HD) and one of Atlanta's wealthiest businessmen, says President Barack Obama’s plan to increase taxes on the rich would only serve to slow hiring and slow America's economic recovery, reports Atlanta Business Chronicle    broadcast partner WXIA-TV. He also sharply criticized billionaire Warren Buffet’s support of the plan. President Obama on Monday introduced a plan combining trillion-dollar spending cuts and the closure of tax law loopholes for the rich. "For us to solve this problem everybody including the wealthiest Americans and biggest corporations have to pay their fair share" Obama...