You know what that is? Of course you do... A giant load of CRAP! I am not a tax attorney, nor do I play one on television, but when I read President Obama's following statement my initial reaction was to spit coffee all over my keyboard in laughter.
“Any reform should follow another simple principle: Middle-class families shouldn’t pay higher taxes than millionaires and billionaires. That’s pretty straightforward. It’s hard to argue against that. Warren Buffett’s secretary shouldn’t pay a higher tax rate than Warren Buffett. There is no justification for it. 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.”
My next reaction was anger. Our Dear Leader knows that this is a load of manure. So why oh why make such an utterly misleading statement? Because he knows that many people will believe it. He is falling back on the left's old playbook page of class warfare.
Stunning Fact #1:
Warren Buffet pays more in taxes than his secretary. That is unless she makes more than $2 million a year, claims no deductions, and has no capital gains.
Stunning Fact #2:
Warren Buffet has already paid taxes once on the money he invests. His lower tax rate (lower than only the upper income tax brackets) is the lower rate of tax for capital gains. That is the tax he pays on the money he makes from the investment of his money on which he has ALREADY paid income tax.
Stunning Fact #3:
Investment creates jobs. Contrary to what our Dear Leader would like you to believe, private investment is the most effective means of job creation. Government spending is not.
So what is the President's end game here? Why would he want to hinder the most effective means of job creation at a time when addressing unemployment is "Job 1"? Because devoted reader, if the left can drive out the private investor, who is left? (Sorry, I mean remaining.) You guessed it! Our newest (OK maybe not so new), bestest buddy and big toe... the US Federal Government!* The end game is as always: generating more dependency on the government.
* My apologies to Ivan Reitman and Harold Ramis
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Fearless Leader you are correct! But... It's sort of true that the secretary pays more- because she is paying her taxes and He (Buffet) is not!! He has been fighting the IRS since 2002 trying to pay LESS than his tax bill!! He owes something like a billion!! So, if he truly thought rich people should pay more-why doesn't HE?
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