The administration admits that the “Buffett rule” wouldn’t do anything about the deficit. “From each according to his ability.”
[Update a while later]
Twitter explains to the president how the revenue from the “Buffett rule” should be spent: “Almost half your vacations?”
It’s not even that — it’s just a pathetic attempt at triangulation in an election year. Obama’s sudden interest in deficits is akin to a junkie’s sudden interest in sobriety during arraignment.
And I do find it interesting that Buffet’s means (undeclared capital gains) for paying less taxes than his secretary still apply.
The GOP’s #1 priority is low taxes for the rich. Meanwhile, 70+% of voters think the rich should pay more in taxes. It’s good politics for the Dems to talk about this as much as possible, especially with Mitt “14%” Romney on the ballot.
low taxes for the rich
Sloppy wording Jim, is that rates or revenue? I really don’t see rates as that big an issue.
The slogan should be… IT’S THE SPENDING STUPID.
GOP wants low taxes for all. Dems look at the word all, then break it down into groups. They pick a group they don’t like and say GOP supports X group.
The Bush taxrate cuts overwhelmingly favored the lower income brackets. The Republicans have acted to keep ALL of the cuts in place and not target one out of hatred, for increases.
Good politics to scapegoat the rich and call for classwarfare while OWS riots in the streets? Sad that you would think that.
Says a lot when one party thinks that dividing the country on race, religion, gender, age, class, and weight is “good” politics. Gee I wonder why the country is so divided right now? (because Obama’s plan is working)
We already have almost 50% of the people paying no federal income tax while the top 5% pays over 40% of all taxes. In the meantime, we’re spending about $1.40 for every $1 of revenue. And Democrats are stupid enough to believe that raising taxes on those making over $1 million a year (or is it $250K?) will do the trick. They – and you – are economic morons.
How bad is federal spending? Remember that $640 MegaMillions jackpot? That would fund the federal government for all of 80 minutes. It the spending, moron.
Like most “Staatshtuppers” ,Jim never met a chance to legally lift someone’s wallet that he didn’t like.
My take on the tax rates of Warren Buffet vs. his secretary:
– The secretary is over taxed.
– Capitol gains is on top of the corporate income tax.