The Obama Rule [He says taxation is about fairness, not growth or revenue...]

Wall Street Journal ^

[Sub-Driver]

The Obama Rule He says taxation is about fairness, not growth or revenue.

Forget Warren Buffett, or whatever other political prop the White House wants to use for its tax agenda. This week the Administration officially endorsed what in essence is the Obama Rule: Taxes must be high simply to spread the wealth, never mind the impact on the economy or government revenue. It's all about "fairness," baby.

This was long apparent to those fated to closely watch the 2008 campaign, but some voters might have missed the point amid the gauzy rhetoric about hope and change. Now we know without any doubt. White House aides made it official Tuesday in their on-the-record briefing on the new federal minimum tax that travels under the political alias known as the "Buffett rule."

The policy goal is to impose an effective minimum tax of 30% on the income of anyone who makes more than $1 million a year. When President Obama first proposed this new minimum tax he declared that the rule "could raise enough money" so that we "stabilize our debt and deficits for the next decade."

Then he added: "This is not politics; this is math." Well, remedial math maybe.

The Obama Treasury's own numbers confirm that the tax would raise at most $5 billion a year—or less than 0.5% of the $1.2 trillion fiscal 2012 budget deficit and over the next decade a mere 0.1% of the $45.43 trillion the federal government will spend. When asked about those revenue projections, White House aide Jason Furman backpedaled from Mr. Obama's rationale by explaining that the tax was never intended "to bring the deficit down and the debt under control."

Okay. So what is the point?

[FlingWingFlyer]

The Buffet Rule. When the piggies pig out on other people’s money. Whadda country! Barry’s America! The land of the big buffet.

[PLD]

http://www.youtube.com/watch?v=LJc8Mzg0C-c&feature=player_embedded

1965

Do you remember the famous ABC radio news commentator Paul Harvey?

Millions of Americans listened to his programs which were broadcast over 1,200 radio stations nationwide.

The following commentary was broadcast 47 years ago.... April 3, 1965.

I hope you will listen to this. It’s short...less than 3 minutes. Notice especially what he said in 7 seconds, from 1:57 to 2:04 in the broadcast.

[556x45]

Not surprising at all. Its just another way to say wealth redistribution. This is what commies do, from the masses (Little People) to themselves (faux royalty).

[Texas Eagle]

My favorite part of The Buffett Rule is that the first billion is tax free.

[repentant_pundit]

Obama Treasury's own numbers confirm that the tax would raise at most $5 billion a year

A measly $5 billion per year ?

The US gov't spends 10 billion dollars per day....while borrowing 4 billion dollars per day !

.

[EscapedDutch]

‎0bama must be defeated this fall, for the sake of the future of this country. There's no sense in trying to talk any into the leftwing kool aid drinkers, who follow their dear leader like lemmings with blinders. They are drunk from over eating at the government trough. They don't realize they are creating a slavery society, where half are slaves to the government for their existence, and the other half is enslaved by that government to pay for it all. The kool aid drinkers believe they will get free health care, free this, free that, because they don't realize others have to work and have the fruits of their labor confiscated, so that government can play Santa Clause. They don't realize that a government big enough to give you everything, is big enough to take everything away. 0bama understands economics, he understands the principles of capitalism and a free market, to a degree. He just doesn't believe in it. He has gone on record not believing in the very system that made America the leader of the free world. He fails to realize government interference, regulations, over taxing, along with subsidizing and picking winners (GM, Solyndra to name 2), has upset the natural balance free markets seek. I think he's purposely going about things, to tear America down, so that he can rebuild it in his utopian view of a Euro style socialist state. For this, he should be impeached and put on trial for treason. In the mean time, vote him out. If that means pulling the lever for Mitt Romney, hold your nose and do it!

[BobP]

The Obama Rule [He says taxation is about fairness, not growth or revenue...]

--------------------------

The king has spoken...

King Zer0

 Real unemployment 19.1% - the 'new normal'
 $4.89/gal gas - the 'new normal'
 Massive federal debt - the 'new normal'
 Send Zer0 back to Chicago in January of 2013

[Cinnamontea]

Fairness? Huh? What's fair about 49% of Americans paying NOTHING in federal income tax? I wish every time Obama opened his yap about taxes someone would ask him that question. Every single time. Hammer him with it. I'm SO fed up with the takers in this country.

[Lou L]

There still seems to be a sleight-of-hand going on with this "Buffet Rule." They keep referring to the 15% rate that apparently millionaires receive--but that 15% is only against income received from dividends. If someone had a million-dollar salary, they would certainly pay 35% or whatever is currently is.

In any case, is Obama wanting to raise the tax rate on ALL sources of income (absolutely), or just the income from dividends and capital gains? Either way is horrible, but especially so for income received from investments, which has already been taxed in many ways.

[Vaduz]

He says taxation is about **fairness**, not growth or revenue.

So much for truth why don’t 48% pay taxes?.

[Vendome]

Fair?

Great! Let’s make it Biblical then.

Everyone should render unto Ceasar the same amount in Federal Taxes.

10%, 15% or 20%. Whichever....take your pick.

If God doesn’t distinguish in a call for tithing 10% then why is the government obviously playing favorites?

/S

[No Socialist]

Liberalism and liberal policies always bring out the worst in people instead of the best. Be lazy and don’t support yourself and then be greedy and want other people’s money. They don’t care about bringing anyone up or improving the economy and the country for everyone, just as long as the guy who has it all pays.

[reg45]

To 0bama, any tax rate less than 100% is a “tax break”.

[dsrtsage]

I have worked my ass off for 20 years so far. Based on studies I have seen, the amount I pay in taxes is equal to the amount of free money and bennies given to just one deadbeat. How is that fair?

[mjp]

The Obama Rule He says taxation is about fairness, not growth or revenue.

It about envy, resentment against achievement, and hatred of the good for being the good by libtards.

[Cyber Liberty]

That Obama favors redistribution over maximizing revenue has been patently obvious to even the most casual observer since at least 2004.

[USNA74]

bump