Barack Obama is on the warpath about the rich and taxing them. He trots out the so called Buffet Rule, named for the tax cheat who claims the rich need to pay more because he pays less in taxes than his secretary does. This sleight of hand is an issue involving the kind of income on which taxes are levied. His secretary has earned income and Buffet has investment (passive) income. These items are taxed at different rates and are not comparable.
Buffet could change his income to earned income and pay more. More importantly, he could pay the taxes he owes. Yes, Mr. the rich need to pay more owes a lot of money to the government. Ellen Sauerbrey put it nicely:
Obama is campaigning for “the Buffett rule” Which one does he mean? That the rich should pay more taxes? – or – that the rich should fight the IRS to pay less as Buffett is doing and has been doing for the last decade? His Berkshire Hathaway company owes the IRS one billion dollars IN BACK TAXES. He doesn’t seem TOO gung-ho to pay what HE OWES!. Is that spelled HYPOCRITE ? [From her Facebook Wall]
This is a very timely question and brings into the sunlight the dirty little secret. The people who are always screaming for higher taxes find many ways to avoid paying their own taxes. John Kerry and his yacht come to mind.
The neglected item in all this is the fact that the so called Buffet rule will do little to help the current fiscal mess our government is in. It will amount to a few billion dollars a year. The amount of money collected is rapidly spent by the government.
What is this all about then? It is nothing more than an effort to make things “fair”. It is about leveling the playing field and redistributing wealth. Barack Obama is on the campaign trail screaming that he is not a Socialist and that he is not out to redistribute wealth but his words do not square with his actions (or his past words).
Obama told Joe the Plumber that things were better when you spread the wealth around. He has stated that the Buffet rule was about making things fair.
As if it is fair to steal one person’s money and give it to another.
This is all about Obama’s Socialist policies of redistributing wealth. He claims that it is not but he is lying. Yes, to quote Congressman Joe Wilson, YOU LIE!
I have no problem calling Obama a liar because he is one and Wilson had it right. You can tell Obama is lying because his lips will be moving.
This is all about redistributive policies where government robs those who have been successful and give to those who have not. The wealthy already pay most of the taxes in this country (when they pay them Mr. Buffet and all you Democrat tax evaders) and they do more than their fair share.
Nearly half of wage earners pay no federal taxes. They do not pay their fair share or as Joe Biden would say, they are not being patriotic.
No, Barack Obama is not interested in getting deficits under control. He is not interested in policies that will actually get the economy moving.
Barack Obama is ONLY interested in pushing Socialist policies that will redistribute wealth.
Because yes, he is a Socialist.
And we need to make the Won, a One term wonder.
It is November or never…
Never surrender, never submit.