Keyword: buffettrule

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  • Buffett puts shareholders ahead of patriotism in Canadian deal

    08/27/2014 8:50:09 AM PDT · by Olog-hai · 34 replies
    Reuters ^ | Tue Aug 26, 2014 7:16pm EDT | Luciana Lopez
    Warren Buffett may be most famous for the billions of dollars he has made from investing, but he is also well known as a cheerleader for the United States. The Oracle of Omaha routinely exhorts investors to put their money in America, “the mother lode of opportunity,” as he wrote in his annual letter this year. So Buffett’s participation in fast-food chain Burger King Worldwide Inc.’s purchase of coffee and doughnut chain Tim Hortons Inc.—complete with relocation of Burger King’s domicile to Canada—might at first blush raise questions about his patriotism. Investors and tax experts say Miami-based Burger King’s move...
  • Video: Ed Markey demonstrates why the ‘Buffett Rule’ will never satisfy the Left

    06/05/2013 9:13:14 AM PDT · by The Old Hoosier · 2 replies
    Conservative Intel ^ | 6/5/13 | David Freddoso
    ...what I think Markey demonstrates with his answer here is that many of the people advocating such a tax also thirst for more revenue from people making much less — such as Markey’s low six-figure salary as a member of Congress. He talks about raising the Alternative Minimum Tax — the original “Buffett Rule” tax, intended to hit a select few — which today hits the middle class in many parts of America that have a high cost of living...
  • House passes new Buffett Rule

    09/19/2012 4:14:42 PM PDT · by hecht · 15 replies
    The House on Wednesday passed Republicans' own version of the Buffett Rule, which allows wealthy Americans to voluntarily pony up to reduce the deficit. The bill, labeled the Buffett Rule Act, passed by voice vote, meaning Democrats and Republicans agreed with it. Under the legislation, which would still need Senate approval, taxpayers could check a box on their taxes and send in a check for more than they owe to the IRS. "If Warren Buffett and others like him truly feel they're not paying enough in taxes, they can use the Buffett Rule Act to put their money where their...
  • Nobody Knows How Much is “Fair” to Tax the Rich

    07/17/2012 1:54:31 PM PDT · by Sark · 14 replies
    So far, Republican presidential nominee Mitt Romney has done a remarkable job of sticking to his message, focusing on economic growth, job creation, and now repealing ObamaCare. President Barack Obama, on the other hand, has largely run a campaign of distractions, using an “issue of the week” approach to attack Romney and to draw media attention away from his controversial record and the ailing economy. However, if you had to pick out a more substantive message for his campaign, it would have to be “fairness.” President Obama has hammered on the point of “fairness” over and over since campaign season...
  • Let Buffett pay the taxes he owes first then talk about Buffett rule -- republican answer

    04/14/2012 10:07:03 AM PDT · by indianyogi · 13 replies
    With Gallop poll suggesting Americans favor higher taxes, republicans need to have a short and sweet answer. So how about, let Mr. Buffett pay all the taxes that he owes (he has unpaid tax issues)first before we make add another line to our tax code!
  • Obama: do as I don’t do. Pay more taxes

    04/20/2012 12:00:42 PM PDT · by Mark Landsbaum
    President Barack Obama has gotten a lot of mileage out of touting his “Buffett Rule” to force millionaires to pay more in taxes. Maybe he thinks earning three-quarters of a million gives him a free ride. . .
  • Wonkette Refuted

    04/17/2012 12:27:08 PM PDT · by evilrooster · 7 replies
    We’ve decided on a new feature at Conservative Outcry – a daily (meaning as often as we get to it) response to a randomly chosen Wonkette article.Although we pay very little attention to Wonkette, many liberals seem to enjoy their musings.It is a known fact, however, that liberals are frequently incapable of discerning fact from fiction; especially, when fiction is presented in the form of a “left-leaning American online magazine of topical satire and political gossip”. While there is nothing wrong with satire, satire should always be based in fact. There is nothing funny about…hmmm…how do liberals say is...oh yes, non-truths (as opposed...
  • Buffett tax goes nowhere. Was it meant to?

    04/17/2012 11:36:45 AM PDT · by Mark Landsbaum · 4 replies
    The president seemingly lost a major fight Monday when the Senate shot down his “Buffett rule” minimum tax on the wealthy. Or did he? For that matter, if it had passed, what would he have achieved? “This legislation will do nothing with regard to job creation, with regard to gas prices, with regard to economic recovery,” said Sen. John Kyl of Arizona, one of the Republicans who blocked the measure from getting the necessary 60 votes for continued debate. To that we might add...
  • 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...
  • Rebuffing Obama’s gimmicky 'Buffett Rule'

    04/11/2012 7:07:58 PM PDT · by tobyhill · 15 replies
    WASHINGTON POST ^ | 4/11/2012 | dana milbank
    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...
  • Obama says US can't afford tax cuts for richest

    04/14/2012 9:23:03 AM PDT · by Free ThinkerNY · 23 replies
    Associated Press ^ | April 14, 2012
    WASHINGTON—President Barack Obama says the nation can't afford to keep giving tax cuts to the wealthiest, "who don't need them and didn't even ask for them." Obama is using his weekly radio and Internet address to urge Americans to ask their member of Congress to support the "Buffett Rule," which is named after billionaire investor Warren Buffett, who says he pays a lower tax rate than his secretary.
  • Played for sucker: Biden's empty rhetoric

    04/14/2012 5:14:47 AM PDT · by billorites · 9 replies
    Manchester Union Leader ^ | April 14, 2012 | Editorial
    Vice President Joe Biden, bless his heart, tried hard to explain the White House's position on “fairness” during a stop in Exeter on Thursday. He blew so much hot air, the U.S.S. Constitution could have set sail. “We're not supposed to have a system with one set of rules for the wealthy and one set of rules for everyone else,” he said. Yet the Buffet Rule Biden was in town to promote creates a separate tax for millionaires that no one else has to pay. It is the definition of creating one set of rules for the wealthy and another...
  • French 75 pct tax rate would last years -Hollande aide

    04/13/2012 5:47:17 PM PDT · by TigerLikesRooster · 20 replies
    Reuters ^ | 04/10/12
    French 75 pct tax rate would last years -Hollande aide PARIS, April 10 | Tue Apr 10, 2012 11:26am EDT (Reuters) - The 75 percent tax rate that French presidential frontrunner Francois Hollande wants to slap on income over 1 million euros will be kept in place for many years, in line with the broader debt reduction effort, a top adviser to the Socialist candidate said on Tuesday. In an interview with Reuters, Hollande adviser Michel Sapin said the 75 percent rate was more a symbolic measure than a big moneyspinner for the state but should stay in place for...
  • President Obama’s Secretary Paid Higher Tax Rate Than He Did

    04/13/2012 12:44:36 PM PDT · by Sub-Driver · 16 replies
    President Obama’s Secretary Paid Higher Tax Rate Than He Did President Obama today released his 2011 federal income tax, with he and his wife reporting an adjusted gross income of $789,674. The Obamas paid $162,074 in total tax – an effective federal income tax rate of 20.5%. The Obamas also reported donating approximately 22% of their income to charity — $172,130. President Obama has been making a big political push for the “Buffett Rule,” which would require millionaires to pay a minimum of 30% of their income in taxes. To illustrate the point, the president has pointed out that billionaire...
  • Obama Website on Buffett Rule is a LIE!

    04/12/2012 5:54:16 PM PDT · by PhxRising · 6 replies
    Lying Obama Website ^ | 4/12/2012 | President Obama
    The Buffett Rule improves tax fairness by ensuring Americans who make more than $1 million a year can’t get special deals to pay a lower rate than many middle-class families. Mitt Romney opposes the Buffett Rule because it would mean people like him would have to pay more. In fact, Romney’s tax plan gives the average millionaire a $250,000 tax cut. To pay for these massive tax cuts, Romney will either drive up the deficit, gut programs important to the middle class, or both. Use the calculator to see how the Buffett Rule would level the playing field.
  • Politico's Vandehei: Obama Campaign 'Insanely Political', Buffett Rule 'Total Gimmickry'

    04/12/2012 5:32:27 AM PDT · by governsleastgovernsbest · 13 replies
    NewsBusters ^ | Mark Finkelstein
    Va-va-va-VandeHei! NewsBusters has frequently documented Politico's Dem-friendly tilt. But a pronounced flying pig moment for Politico this morning as its executive editor Jim VandeHei: ripped the Obama campaign as "insanely political;" described the Buffett Rule as "total gimmickry;" and opined that President Obama has given up on promoting any big ideas in favor of targeting various demographic groups. View the video here.
  • Warren Buffett Sued by Obama’s IRS

    04/11/2012 2:52:14 PM PDT · by Whenifhow · 8 replies
    Obama and his rich pals think you are just another useful idiot like the Occupy (OWS) crowd. While Obama seeks to enact the “Buffett Rule” to place a higher tax burden on families/small businesses that make $250K per year or more, his Internal Revenue Service (IRS) is suing Warren Buffett. Obama’s pal just doesn’t want to pay his taxes… but he has no problem stumping for Obama and calling for a higher tax burden on families and small businesses. “Get this: Uncle Sam is suing Warren Buffett’s company over taxes. Yes, taxes. The US government, in a little-followed case in...
  • Obama calls on Congress to pass 'Buffett Rule' tax

    03/31/2012 10:13:58 AM PDT · by Free ThinkerNY · 17 replies
    Associated Press ^ | March 31, 2012 | JIM KUHNHENN
    WASHINGTON (AP) -- President Barack Obama is calling on Congress to increase taxes on millionaires, reviving a proposal he first pitched last September that aims to draw sharp election-year lines between the president and the Republican opposition. The plan, scheduled for a vote in the Democratic-controlled Senate on April 16, stands little chance of passing in Congress.
  • The Bottom 0.1% - The Buffett rule yields a pittance.

    03/22/2012 4:45:08 PM PDT · by MissesBush · 6 replies
    There goes the Buffett rule. Remember that political gambit, in which billionaire Warren Buffett pretended he was going to pay a much higher tax bill and President Obama pretended that raising rates on millionaires would make a dent in his hemorrhaging budget deficits? In one fell swoop Wednesday, Congress's tax scorekeeper punctured both phony claims. The analysis from the Joint Committee on Taxation also showed less wealthy taxpayers why the Buffett ruse would eventually end up exposing them to higher taxes. With Mr. Buffett's help, Mr. Obama promoted the fairy tale that millionaires pay lower tax rates than their middle-class...
  • Buffett Rule Shares Flaw with Tax It Would Replace

    02/14/2012 12:46:44 PM PST · by Oldeconomybuyer · 3 replies
    TIME via Yahoo! News ^ | February 14, 2012 | By DAN KADLEC
    Say goodbye to the much-loathed Alternative Minimum Tax and hello to the Buffett Rule. Sweet relief. The AMT has perplexed taxpayers and agonized accountants for decades. But wait: Are the AMT and the Buffett Rule really so different? The two take aim at different types of tax avoidance, so the details have little in common. But the headline is the same: Both were designed to make sure that wealthy citizens pay their fair share of income tax -- without creating a tax monster that somehow reaches down to regular people. When the AMT came into being in 1969, rich people...
  • No Senate Budget But It Ponders Buffett Rule Law

    02/06/2012 5:26:55 PM PST · by Kaslin · 3 replies
    IBD Editorials ^ | February 6, 2012
    Taxes: The Senate hasn't passed a budget in over a thousand days, yet it has time to consider one member's bill to make the no-growth logic of the administration's favorite billionaire the law of the land. Senate Majority Leader Harry Reid, Democrat from the state ranking among the highest in foreclosures and unemployment, would prefer leaving the ship of state to drift rudderlessly. "We do not need to bring a budget to the floor this year — it's done, we don't need to do it," Reid told reporters Friday. Reid's idea of getting things done is punting to a supercommittee...
  • Obama the Flimflam Man

    01/27/2012 6:53:45 AM PST · by Kaslin · 9 replies
    Townhall.com ^ | January 27, 2012 | Donald Lambro
    There was very little that was really new in the president's agenda-setting State of the Union address to the nation Tuesday. Since when is it new when Barack Obama calls for higher taxes on our economy? He had little to say about the government's $15 trillion debt, nor about the yearly trillion dollar plus budget deficits he's piling up. Even though the Gallup poll says the voters place these issues among their top three concerns, along with the economy and jobs. Nor did he have much to say about the serious troubles millions of Americans still face in the oppressive...
  • Obama's Misstatements on the Union

    01/27/2012 4:53:41 AM PST · by Kaslin · 7 replies
    Townhall.com ^ | January 27, 2012 | David Limbaugh
    Only a president long shielded from criticism and accountability could make the kind of State of the Union speech President Obama did Tuesday night. It's hard to know where to begin, given his repetition of tired ideas from his previous SOTUs, his taking credit for successful policies he resisted and omitting failed ones he promoted, his numerous misrepresentations on issues big and small, and his glaring refusal to address the main issues that threaten the nation. Let me touch on just a few highlights in this brief space. Excessive spending is the primary threat to our nation's and Americans' financial...
  • Warren Buffett's Secretary Likely Makes Between $200,000 And $500,000/Year

    01/25/2012 2:15:12 PM PST · by grundle · 26 replies
    Forbes ^ | 1/25/2012 | Paul Roderick Gregory
    Warren Buffet’s secretary, Debbie Bosanek, served as a stage prop for President Obama’s State of the Union speech. She was the President’s chief display of the alleged unfairness of our tax system – a little person paying a higher tax rate than her billionaire boss. Bosanek’s prominent role in Obama’s “fairness” campaign piqued my curiosity, and I imagine the curiosity of others. How much does her boss pay this downtrodden woman? So far, no one has volunteered this information. The IRS publishes detailed tax tables by income level. The latest results are for 2009. They show that taxpayers earning an...
  • BLACK-GOLD BLUES: Buffett's railroad winner from Keystone denial

    01/24/2012 12:10:44 PM PST · by IbJensen · 2 replies
    WND (Bloomberg) ^ | 1/24/2012 | Staff
    'Whatever people bring to us, we're ready to haul' (BLOOMBERG) — Warren Buffett’s Burlington Northern Santa Fe LLC is among U.S. and Canadian railroads that stand to benefit from the Obama administration’s decision to reject TransCanada Corp. (TRP)’s Keystone XL oil pipeline permit. With modest expansion, railroads can handle all new oil produced in western Canada through 2030, according to an analysis of the Keystone proposal by the U.S. State Department. “Whatever people bring to us, we’re ready to haul,” Krista York-Wooley, a spokeswoman for Burlington Northern, a unit of Buffett’s Omaha, Nebraska-based Berkshire Hathaway Inc. (BRK/A), said in an...
  • Seriously, President Obama? ("Buffett Rule": Buffett profits from Keystone rejection, workers lose)

    01/24/2012 9:41:24 AM PST · by Qbert · 17 replies
    Pundit & Pundette ^ | 1/24/2012 | Pundit & Pundette
    Not since his minions handed out lab coats at a White House Obamacare rally has Barack Obama committed such a lame or electorate-insulting act of political theater. But it's just part of the class war he must wage if he's to get re-elected. Code word: fairness. Politico: Billionaire Warren Buffett's longtime secretary will be joining first lady Michelle Obama in her box at tonight's State of the Union, White House communications director Dan Pfeiffer announced on Twitter. Debbie Bosanek, who has worked for Buffett for nearly two decades, has become a symbol in the White House's fight over the tax code...
  • Congressman Takes Buffett Up On His Offer, Buffett Will Write The Treasury A $49,000 Check

    01/18/2012 2:10:36 PM PST · by SeekAndFind · 7 replies
    Business Insider ^ | 01/18/2012 | Ben Walsh
    Warren Buffett has written his first check to the U.S. Treasury since announcing his pledge to match Republican donations to pay down the national debt a week ago. Carol Loomis, Fortune's senior editor-at-large and long-time friend of Buffett's, reports that the Omaha investor received a letter from Congressman Scott Rigell of Virginia (pictured below). In it, Rigell details the $49,000 he had donated to Treasury in total in 2011 and 2012 and asks Buffett to match both (full letter is below). Buffett agreed (full letter below). Lest we raise your hopes that the national debt is over as an issue,...
  • Peter Schwiezer Book 'Throw Them All Out' exposes Warren Buffets participating in inside trading?

    11/13/2011 8:18:23 PM PST · by Bigtigermike · 13 replies
    Sunday November 13, 2011
    Listening to an interview of Peter Schwiezer talking to Steve Bannon (Director of Palin's Undefeated movie)...There's a whole chapter in Peter's new book exposing Warren Buffet. Supposedly he is involved in insider trading. This chapter of Schweizer's book shows how his company got the sweetheart deal to invest in Goldman Sachs in the midst of the 2008 financial crisis. One member of Congress even bought Berkshire stock the day before the deal was even announced....It was a racket!
  • GOP introduces its own ‘Buffett Rule’: Streamline donating cash to government

    10/13/2011 12:14:43 PM PDT · by DFG · 14 replies
    Daily Caller ^ | 10/13/11 | Caroline May
    Billionaire investor Warren Buffett revealed Wednesday that he made $62,855,038 last year, paying $6,923,494 in income taxes (or about 17 percent of his $39,814,784 taxable income) and $15,300 in payroll taxes. With Buffett concerned that he does not pay enough in taxes, congressional Republicans have introduced legislation to allow Buffett — and others who believe they are under-taxed — the easy option of voluntarily donating to the U.S. Treasury on their tax forms.
  • House GOP proposes 'Buffett' tax rule [for wealthy taxpayers to donate as much of their money....]

    10/06/2011 8:19:30 AM PDT · by Sub-Driver · 15 replies
    House GOP proposes 'Buffett' tax rule By Pete Kasperowicz - 10/06/11 08:42 AM ET Rep. Steve Scalise (R-La.) and eight other House Republicans on Wednesday moved to counteract President Obama's campaign to raise taxes on the rich by offering legislation that would make it easier for wealthy taxpayers to donate as much of their money to the government as they wish. Scalise introduced the "Buffett Rule Act," H.R. 3099, which would require the IRS to create a new line on people's tax forms to let rich taxpayers pay extra to help pay down the debt. The bill bears the name...
  • CNN: Every 'Serious' Budget Expert Says 'Taxes Must Go Up' (How about just stop spending?)

    09/20/2011 4:45:15 AM PDT · by tobyhill · 21 replies
    newsbusters ^ | 9/19/2011 | By Matt Hadro
    CNN business correspondent Christine Romans claimed Monday that "any serious budget expert's analysis" concludes that taxes must increase. During CNN's coverage of President Obama's address concerning his deficit reduction plan, Romans asked not if, but when Republicans should get on board with his proposals. "So at what point do Republicans say, okay, we agree that taxes have to go up, and here's what we'll agree to?" Romans posed to former Bush CBO director, Douglas Holtz-Eakin. According to Romans, President Obama's proposal to raise taxes on millionaires is just fine. "So what's wrong with raising taxes for that crowd so they're...
  • Liberal group takes credit for audience member asking Obama to raise taxes

    09/28/2011 6:54:55 AM PDT · by Sub-Driver · 19 replies
    Liberal group takes credit for audience member asking Obama to raise taxes By Alicia M. Cohn - 09/28/11 09:32 AM ET Patriotic Millionaires for Fiscal Strength, a campaign by the progressive group The Agenda Project, on Tuesday took credit for a member of the audience who asked President Obama to raise his taxes during a town hall meeting in Silicon Valley on Monday. “Will you please raise my taxes?” the man said. “It kills me to see Congress not supporting the expiration of the tax cuts that have been benefiting so many of us for so long." It was a...
  • Insight: America's rich losing tussle with taxman (you can't even renounce citizenship)

    09/30/2011 3:46:09 PM PDT · by SeekAndFind · 25 replies
    Real Clear Markets ^ | 09/30/2011 | Chris Vellacott
    When Irish rockers U2 took to the main stage at this year's Glastonbury music festival, a small but vocal group of activists raised a large balloon emblazoned with the words "U Pay Tax 2?" Most people in the 60,000-strong crowd barely noticed the stunt on a rain-lashed night, but the world's media latched on to the protest and gave it prominent mention in their reports of the eagerly awaited performance by one of rock and roll's biggest acts. Years ago the band transferred some of its assets from Ireland to the Netherlands, as did members of the Rolling Stones, prompting...
  • Warren Buffett Says He Will Release His Tax Returns If Rupert Murdoch Does (First shots fired)

    10/04/2011 12:32:11 PM PDT · by SeekAndFind · 26 replies
    Business Insider ^ | 10/04/2011 | Zeke Miller
    Pressed by House Republicans and the Wall Street Journal editorial board to release a copy of his tax returns to justify the so-called "Buffett tax," the Oracle of Omaha said he would comply if News Corp CEO Rupert Murdoch did the same. "I think it might be a terrific idea if they would just ask their boss, Rupert Murdoch, and he and I will meet at Fortune, and we'll both give you our tax returns and you can publish them," Buffett told Fortune's Carol Loomis. "I'm ready tomorrow morning," he said. In a New York Times column, Buffett asked Congress...
  • Bluff Called… Republicans Demand Buffett’s Tax Returns

    09/22/2011 5:14:31 PM PDT · by Nachum · 19 replies
    Gateway Pundit ^ | 9/22/11 | Jim Hoft
    Bluff Called. Senate Republicans demanded that Warren Buffett, the namesake of Obama’s tax hikes, turn over his tax returns so they can be compared to his secretary’s returns. Buffett says his secretary pays more taxes than he does. Bluff Called. Senate Republicans demanded that Warren Buffett, the namesake of Obama’s tax hikes, turn over his tax returns so they can be compared to his secretary’s returns. Buffett says his secretary pays more taxes than he does. Republicans want to see Buffett’s tax returns. The Hill reported: The GOP is making a concerted effort to pressure billionaire investment guru Warren Buffett...
  • AP fact check: Secretaries don’t pay more taxes than their bosses (Paging Warren Buffet)

    09/20/2011 9:37:03 AM PDT · by SeekAndFind · 21 replies
    Hotair ^ | 09/19/2011 | Ed Morrisey
    Let's hope that Warren Buffet is better at managing funds than he is at tax policy. After Buffett complained that his secretary pays a higher tax rate than he does, Barack Obama decided to call his new class-warfare taxes “the Buffett Rule” and emphasize that he wants to make taxes more “fair.” But was Buffett right? According to an AP fact check — and just about every ounce of common sense that exists outside of the class-warfare fever swamps of the White House these days — not at all: “Middle-class families shouldn’t pay higher taxes than millionaires and billionaires,” Obama...
  • FACT CHECK: Are rich taxed less than secretaries?

    09/20/2011 3:04:12 PM PDT · by barmag25 · 21 replies
    AP-via yahoo ^ | 09/19/11 | STEPHEN OHLEMACHER
    WASHINGTON (AP) — President Barack Obama says he wants to make sure millionaires are taxed at higher rates than their secretaries. The data say they already are. "Warren Buffett's secretary shouldn't pay a higher tax rate than Warren Buffett. There is no justification for it," Obama said as he announced his deficit-reduction plan this week. "It is wrong that in the United States of America, a teacher or a nurse or a construction worker who earns $50,000 should pay higher tax rates than somebody pulling in $50 million." On average, the wealthiest people in America pay a lot more taxes...
  • AP Checks Obama's Facts: Secretaries Pay Higher Taxes?

    09/20/2011 11:29:22 AM PDT · by Freemarkets101 · 18 replies · 1+ views
    Brian Koenig ^ | 9/20/11 | Brian Koenig
    Obama and Warren Buffett - and the President's new "Buffett Rule" tax proposal - got fact checked by AP about their outlandish claim that secretaries pay more in taxes than their bosses. "Middle-class families shouldn't pay higher taxes than millionaires and billionaires," Obama recklessly proclaimed Monday. "That's pretty straightforward. It's hard to argue against that." When put that way, yes that is hard to argue against. However... (Associated Press) - The data tells a different story. On average, the wealthiest people in America pay a lot more taxes than the middle class or the poor, according to private and government...
  • 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...
  • Obama Gets the Numbers Wrong In His Tax Plan! (Nothing new! Obama always gets the numbers wrong)

    09/19/2011 2:34:35 PM PDT · by tobyhill · 11 replies · 1+ views
    Fox News ^ | 9/19/2011 | By John Lott
    The justification for President Obama's new proposed tax on the wealthy is wrong on the numbers. Despite the president's claims, millionaires don't pay lower tax rates than middle class workers. His proposed surcharge on capital gains and dividend taxes will raise already high tax rates on high income individuals and force even more investment outside the United States. The so-called "Buffett rule" is based on Warren Buffett's claim: "The 400 of us [here] pay a lower part of our income in taxes than our receptionists do, or our cleaning ladies, for that matter. If you’re in the luckiest 1 per...
  • Warren Buffet May Owe A Billion Dollars In Back Taxes (Is this what Obama means by "Buffet Rule"?)

    10/13/2011 2:23:49 AM PDT · by Clairity · 13 replies
    Human Events ^ | Aug 31, 2011 | John Hayward
    Warren Buffett, President Obama's pet billionaire, spends a great deal of time calling for tax increases on wealthy people. Funny thing is, it turns out Buffett was being… shall we say ... disingenuous when he claimed his "leaders" never got around to asking for his "shared sacrifice." His company, Berkshire Hathaway, has been fighting the IRS tooth and nail to avoid paying its federal tax bill for nearly a decade.
  • 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...
  • Obama Gets the Numbers Wrong In His Tax Plan

    09/19/2011 9:55:28 AM PDT · by JohnLott · 27 replies
    Fox News ^ | September 19, 2011 | John R. Lott Jr.
    The justification for President Obama's new proposed tax on the wealthy is wrong on the numbers. Despite the president's claims, millionaires don't pay lower tax rates than middle class workers. His proposed surcharge on capital gains and dividend taxes will raise already high tax rates on high income individuals and force even more investment outside the United States. The so-called "Buffett rule" is based on Warren Buffett's claim: "The 400 of us [here] pay a lower part of our income in taxes than our receptionists do, or our cleaning ladies, for that matter. If you’re in the luckiest 1 per...
  • Obama: Reagan Would Have Supported ‘Buffett Rule’ [Video]

    10/05/2011 5:40:37 PM PDT · by YankeeReb · 8 replies
    Breitbart TV ^ | 10/4/11 | Colin Sumner
    "Twenty-six years ago, another President said that some of these tax loopholes, and I quote, 'made it possible for millionaires to pay nothing while a bus driver was paying 10 percent of his salary, and that’s crazy. It’s time we stopped it.' That was 26 years ago. You know the name of that President? Ronald Reagan."
  • Obama: Reagan would have supported Buffett rule

    10/04/2011 6:22:45 PM PDT · by Clairity · 37 replies
    CBS News ^ | Oct. 4, 2011 | Brian Montopoli
    President Obama said Tuesday that none other than conservative icon former President Ronald Reagan would have supported his plan to raise taxes on Americans who make more than $1 million per year, known as the "Buffett rule." Mr. Obama quoted Mr. Reagan's 1985 comment calling for an end to tax loopholes for the rich. "Some of those loopholes were understandable, but in practice they sometimes made it possible for millionaires to pay nothing, while a bus driver was paying 10 percent of his salary, and that's crazy. It's time we stopped it," Mr. Obama quoted Mr. Reagan saying.
  • Warren Buffett Does Not Endorse WH's "Buffett Rule"

    09/30/2011 9:33:19 AM PDT · by bobsunshine · 13 replies
    Real Clear Politics ^ | September 30, 2011 | CNBC
    CNBC: "Are you happy that the way it is being described. Is the program that the White House has presented a million dollars and over your program? " Warren Buffett: "Well, the precise program which will -- I don't know what their program will be. My program would be on the very high incomes that are taxed very low. Not just high incomes. Somebody making $50 million a year playing baseball, his taxes won't change. Make $50 million a year appearing on television, his income won't change. But, if they make a lot of money and pay a very low...
  • Republicans Unveil Their ‘Buffett Rule’ Allowing Americans to Pay More to Uncle Sam

    10/15/2011 9:05:33 AM PDT · by tobyhill · 19 replies
    Fox News ^ | 10/15/2011 | fox news
    President Obama’s proposed “Buffett Rule”-- which would force the wealthiest Americans to pay higher taxes to help cut the nation’s deficits -- has met its Republican match. Republican lawmakers have introduced their own “Buffett Rule” that would allow billionaire investors like Warren Buffett who say they’re not paying enough taxes to voluntarily give more money to the federal government. Under the legislation, authored by Sen. John Thune of South Dakota and Rep. John Scalise of Louisiana, taxpayers can donate at least a $1 to the Treasury fund for deficit reduction when they file their federal income tax returns starting next...
  • White House: Millionaire tax isn’t enough

    10/07/2011 12:25:45 PM PDT · by Sub-Driver · 77 replies · 1+ views
    White House: Millionaire tax isn’t enough Neil Munro -- The Daily Caller 39 mins ago President Obama wants tax increases on the wealthy, regardless of whether the Democrats’ proposed millionaire tax becomes law, White House spokesman Jay Carney said Friday. “The president’s position has not changed” since he called for increased tax rates on individuals earning more than $250,000 per year, and for adoption of the “Buffett Rule,” Carney said during his midday press conference. Under the still-vague “Buffett Rule,” named for multi-billionaire investor Warren Buffett, the government would ensure wealthy people could not use current features of the tax...
  • Buffett: My plan was not the 'Buffett Rule'

    09/30/2011 8:15:02 AM PDT · by Sub-Driver · 42 replies
    Buffett: My plan was not the 'Buffett Rule' By Alicia M. Cohn - 09/30/11 11:01 AM ET Billionaire investment guru Warren Buffett, who has become the face of President Obama's $447 billion jobs creation legislation, said Friday that he might not agree with everything in the bill. Obama has called for higher tax rates on millionaires as part of his proposed deficit-reduction plan. Obama’s proposed tax increase, called the “Buffett Rule” in a nod to Buffett’s call for higher taxes on the wealthiest Americans, would apply to those earning annual incomes of $1 million or more. However, Buffett said he...
  • GBTV Exclusive: Buffett’s secretary (Video)

    09/23/2011 6:03:40 PM PDT · by RightGeek · 24 replies
    GBTV ^ | 9/23/2011 | Glenn Beck
    (Video of Buffett secretary at link - http://www.glennbeck.com/2011/09/23/gbtv-exclusive-buffetts-secretary/)A disturbing sight but great information to debunk Buffett’s ridiculous tax delusions. Get more information on the facts Stu lays out here.