Posted on 04/11/2012 7:21:30 AM PDT by 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 yearor 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?
(Excerpt) Read more at online.wsj.com ...
The Buffet Rule. When the piggies pig out on other people’s money. Whadda country! Barry’s America! The land of the big buffet.
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.
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).
My favorite part of The Buffett Rule is that the first billion is tax free.
A measly $5 billion per year ?
The US gov't spends 10 billion dollars per day....while borrowing 4 billion dollars per day !
.
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The king has spoken...
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
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.
He says taxation is about **fairness**, not growth or revenue.
So much for truth why don’t 48% pay taxes?.
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
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.
To 0bama, any tax rate less than 100% is a “tax break”.
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?
It about envy, resentment against achievement, and hatred of the good for being the good by libtards.
That Obama favors redistribution over maximizing revenue has been patently obvious to even the most casual observer since at least 2004.
bump
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