This is insane and the administration is an embarrassment to this country. Buffett and Obama are pushing for higher taxes for the rich while Buffet pays little, if any tax. Not because of the tax rate for his tax bracket, but because he chooses to take advantage of loopholes at best, and at worst, perhaps just doesn't even pay the taxes (while saying the government should raise taxes). When Buffett is arrested for tax evasion Obama, who complains that the rich pay too little in taxes - PARDONS HIM?
What kind of example does this set? How are we to view Obama's proposal as anything other than politics and pandering to his base. His proposal is deal on arrival.
And about the evil rich, barring people like Warren Buffet who simply don't pay their taxes...
From the AP:
Quote:
On average, the wealthiest people in America pay a lot more taxes than the middle class or the poor, according to private and government data. They pay at a higher rate, and as a group, they contribute a much larger share of the overall taxes collected by the federal government.
The 10 percent of households with the highest incomes pay more than half of all federal taxes. They pay more than 70 percent of federal income taxes, according to the Congressional Budget Office.
...
This year, households making more than $1 million will pay an average of 29.1 percent of their income in federal taxes, including income taxes, payroll taxes and other taxes, according to the Tax Policy Center, a Washington think tank.
Households making between $50,000 and $75,000 will pay an average of 15 percent of their income in federal taxes.
Lower-income households will pay less. For example, households making between $40,000 and $50,000 will pay an average of 12.5 percent of their income in federal taxes. Households making between $20,000 and $30,000 will pay 5.7 percent.
|
So let's cut the crap. To tell the segment of the population that not only drives the country's economy, but funds 70% of the government's income that they need to pay more is an insult. If Obama had any interest in really attacking the problem, he'd have the IRS go after tax dodgers like Warren Buffett and collect.
Then there's the Solyndra thing. BO props up this train-wreck of a company with a half billion $, everyone who knew the company knew it wasn't viable. Naturally it goes bankrupt and the half billion $ is gone. The company will be investigated... by Obama's goon Eric Holder. Solyndra has been advised to plead the 5th. The injustice department will ensure that congress never sees that data. I think Solyndra is just the tip of the iceberg. How many other non-viable companies have been propped up by Obama's stimulus packages?
This coming presidential race is the republican's to loose. Not that that's encouraging to me...