Posts
The "Why" Of Buffett's Tax Proposal
The "Oracle of Omaha" has proposed income tax alternatives which HE thinks the negotiators should consider. Mr Buffett is being a bit disingenuous in his proposal.... he speaks of income taxes while HIS annual compensation falls under the 'dividends and interest' portion of the IRS Tax Code.
The aforementioned 'alternatives:'
Warren Buffett is suggesting in his proposal for higher taxes on the wealthiest of Americans-a minimum rate of 30% (those earning $1M+) and 35% (those earning $10M+).
The Buffett 'suggestion' continues with a $500,000 defined threshold of 'rich millionaires and billionaires' rather than the "Clown Prince's" $250,000; saying that
"....in some parts of the country, $250,000 barely convers a middle-class lifestyle."
[Here's where Warren Buffett misses "Clown Prince" obama's point. The "Clown Prince" has no inclination what-so-ever in allowing the average citizen to ever advance in 'class.']
Let's see how Mr Buffett's obfuscations affect his hypothetical 'income' taxes vs his actual taxes.
It's a given that Mr Buffett's current annual compensation is $100,000.
It's a given that Mr Buffett's current annual compensation is completely derived from dividends his portion of Berkshire-Hathaway generates.
If Mr Buffett's $100,000 compensation were actually subject to income taxes, after allowable deductions his rate would be 39.12995%!! Because his compensation is entirely derived from dividends Mr Buffett is taxed essentially at 15%. There are several different reasons for and levels of, the unearned income (dividends and interest-capital gains) tax rates. This is why Mr Buffett--during the most recent tax year--paid a 17.7% rate.
One fact all the socio-fascists are ignoring:
Higher taxes do not equal higher revenue (here and here)!
Til Nex'Time....
Showing posts with label Warren Buffett. Show all posts
Showing posts with label Warren Buffett. Show all posts
Thursday, November 29, 2012
Friday, November 9, 2012
This'n'That; November Nineth #1; obama-quences
obama-quences Begin BEFORE Re-immaculation!
Remember the photo op that never accomplished anything?!? You know the one: "Clown Prince" obama shows up on the Jersey Shore in his shiny, new helicopter; walks in the sand, as ususal-promising everything to everybody; is endorsed by turncoat-Governor Chris Christie, then--as is becoming more usual for the "Clown Prince"--hopped off to 'Vegas.
Since the aforementioned politically-expedient photo op, what's changed; what's been improved?!? A coupla million folks had their utilities restored, only to have them knocked out during the most recent nor'easter storm that hit New Jersey, southeastern New York State and continued on up into southern New England. The on-site FEMA offices were closed 'due to the weather!' Now that the election's over, the "Clown Prince" has taken a stance of blatant ignorance; the turncoat-Governor Christie--having secured future employment consideration by the continuing regime--apparently has better things to do!!
A Las Vegas employer--who remained anonymous--is laying off 22--out of 114--employees to afford to keep his business open; the aircraft giant--Boeing, Inc--will reduce its executive and management staffing by an additional 30% since early rounds in 2010; close facilities in California, as well as consolidating business units. So much for the obamanomics socio-fascist economic model!!
Not only do we have the quote attributed to obama-handler Valarie Jarrett:
"When we win, there'll be hell-to-pay for those who opposed us!"
We have that ass-tute statesman; the "Nevada Nose-Picker," pinky reid trying to convince the conservatives among us of a mandate in the recent election:
"The mandate was, look at all the exit polls, look at all the polling. The vast majority of the American people--rich,poor, everybody--agrees that the reich [the] richest of the rich, have to help a little bit."
....and finally, we have one of the most astute investors of all time--Warren Buffett--agreeing with those occupying barackingham Palace as well as the occupants of the Ameri-stag [Reichstag {Hitler's puppet government}-Git'it; git'it?!?]:
"There's class warfare, all right, but it's my class, the rich class, that's making war and we're winning."
This is exactly the right point beyond which Speaker Boehner should not cave!! He must continue to prove his nut-sack is not in the grips of any of the leftists in the House or the Senate (Remember the photo--from their appearance on 'the view'--of Michelle 'Antoinette' having a death-grip on the "Clown Prince's" nut-sack). The House Speaker must continue to stand up for--his version of--fiscal conservatism, for spending cuts and for the CURRENT tax code!!
Til Nex'Time....
Remember the photo op that never accomplished anything?!? You know the one: "Clown Prince" obama shows up on the Jersey Shore in his shiny, new helicopter; walks in the sand, as ususal-promising everything to everybody; is endorsed by turncoat-Governor Chris Christie, then--as is becoming more usual for the "Clown Prince"--hopped off to 'Vegas.
Since the aforementioned politically-expedient photo op, what's changed; what's been improved?!? A coupla million folks had their utilities restored, only to have them knocked out during the most recent nor'easter storm that hit New Jersey, southeastern New York State and continued on up into southern New England. The on-site FEMA offices were closed 'due to the weather!' Now that the election's over, the "Clown Prince" has taken a stance of blatant ignorance; the turncoat-Governor Christie--having secured future employment consideration by the continuing regime--apparently has better things to do!!
A Las Vegas employer--who remained anonymous--is laying off 22--out of 114--employees to afford to keep his business open; the aircraft giant--Boeing, Inc--will reduce its executive and management staffing by an additional 30% since early rounds in 2010; close facilities in California, as well as consolidating business units. So much for the obamanomics socio-fascist economic model!!
Not only do we have the quote attributed to obama-handler Valarie Jarrett:
"The mandate was, look at all the exit polls, look at all the polling. The vast majority of the American people--rich,poor, everybody--agrees that the reich [the] richest of the rich, have to help a little bit."
"There's class warfare, all right, but it's my class, the rich class, that's making war and we're winning."
This is exactly the right point beyond which Speaker Boehner should not cave!! He must continue to prove his nut-sack is not in the grips of any of the leftists in the House or the Senate (Remember the photo--from their appearance on 'the view'--of Michelle 'Antoinette' having a death-grip on the "Clown Prince's" nut-sack). The House Speaker must continue to stand up for--his version of--fiscal conservatism, for spending cuts and for the CURRENT tax code!!
Til Nex'Time....
Monday, April 16, 2012
This'n'That; April Sixteenth #1; owe-bama Agrees....
....With Warren Buffett!!
Both of them: the worst ruler America has ever seen--in it's entire history--and one of the best investors in American--if not world--history agree; S & M is great!! Yea, while that kinda S & M ain't what I'm talkin' about, it very well may be another story for another day.
The S & M I'm talking about is the Smoke and Mirrors the "Clown Prince" uses on a minute-by-minute basis. The most recent is this "Buffett Rule" bullshit. Here's some of the facts, fallacies and rumors I've found:
1. The "Buffett Rule" will go down in flaming defeat in the Senate; proving this is nothing more that political posturing, if nothing else, to use to hammer Mitt Romney for the tax rate he paid for 2011, and
2. The "Buffett Rule" on the off-chance it passes will effect about 4,000 current taxpayers, and
3. The "Buffett Rule" will ONLY GENERATE $47 billion--here's that phrase again--over ten years; roughly equalling--a comparative paltry--$5 billion per year, which equals about a day-and-a-half of the government's annual deficit spending, and
4. The "Buffett Rule"--as scored by the Congressional Budget Office--actually is only a $3.2 billion gain!!
5. The "Buffett Rule"--per the "Clown Prince"--is supposed to 'stabilize the debt'. If enacted, the "Buffett Rule" will leave over 99.5% of the deficit intact, again proving it's ONLY political posturing.
This again, is nothing more than Warren Buffett fueled class-warfare as a part of the "Clown Prince" re-immaculation scheme!!
Til Nex'Time....
Both of them: the worst ruler America has ever seen--in it's entire history--and one of the best investors in American--if not world--history agree; S & M is great!! Yea, while that kinda S & M ain't what I'm talkin' about, it very well may be another story for another day.
The S & M I'm talking about is the Smoke and Mirrors the "Clown Prince" uses on a minute-by-minute basis. The most recent is this "Buffett Rule" bullshit. Here's some of the facts, fallacies and rumors I've found:
1. The "Buffett Rule" will go down in flaming defeat in the Senate; proving this is nothing more that political posturing, if nothing else, to use to hammer Mitt Romney for the tax rate he paid for 2011, and
2. The "Buffett Rule" on the off-chance it passes will effect about 4,000 current taxpayers, and
3. The "Buffett Rule" will ONLY GENERATE $47 billion--here's that phrase again--over ten years; roughly equalling--a comparative paltry--$5 billion per year, which equals about a day-and-a-half of the government's annual deficit spending, and
4. The "Buffett Rule"--as scored by the Congressional Budget Office--actually is only a $3.2 billion gain!!
5. The "Buffett Rule"--per the "Clown Prince"--is supposed to 'stabilize the debt'. If enacted, the "Buffett Rule" will leave over 99.5% of the deficit intact, again proving it's ONLY political posturing.
This again, is nothing more than Warren Buffett fueled class-warfare as a part of the "Clown Prince" re-immaculation scheme!!
Til Nex'Time....
Thursday, April 12, 2012
This'n'That; April Twelfth #1; Unremarkable Remarks
[General-of-the-Army; President Dwight D.]
Eisenhower Executive Office Building,
District of Corruption
April 11, 2012
(A Conservative Perspective....?)
Lately, we’ve been talking about the fundamental choice that we face as a country. We can settle for an economy where a shrinking number of people do very, very well and everybody else is struggling to get by, or we can build an economy where we’re rewarding hard work and responsibility -- an economy where everybody has a fair shot, and everybody is doing their fair share, and everybody is playing by the same set of rules.
It can be said that every society; every segment of every society has rules, no matter how loosely perceived; how loosely applied. To that end--in federal governance--there are rules for all participants in the system. For Executive Branch edification: laws are written by the Congress, voted upon by the Congress, signed into law--or vetoed--by the president--or currently--our exalted ruler. The rule is: the president doesn't circumvent the Congress--and by extension, the will of the people--with executive orders to install 'a rule' disagreeable to both said Congress and said people.
The people who have joined me here today are extremely successful. They’ve created jobs and opportunity for thousands of Americans. They’re rightly proud of their success. They love the country that made their success possible, and most importantly, they want to make sure that the next generation, people coming up behind them, have the same opportunities that they had. They understand, though, that for some time now, when compared to the middle class, they haven’t been asked to do their fair share. And they are here because they believe there is something deeply wrong and irresponsible about that. At a time when the share of national income flowing to the top 1 percent of people in this country has climbed to levels we haven’t seen since the 1920s, these same folks are paying taxes at one of the lowest rates in 50 years. In fact, one in four millionaires pays a lower tax rate than millions of hardworking middle-class households. And while many millionaires do pay their fair share, some take advantage of loopholes and shelters that let them get away with paying no income taxes whatsoever -- and that’s all perfectly legal under the system that we currently have.
How would it skew the "Clown Prince's" doctrine of "class-warfare wins political office," to consider those evil rich, pasty-white guys' having paid their fair share of income taxes ....by extension?!?! Those evil, rich, pasty-white guys have created umpteen hundreds-of-thousands of--TAX PAYING--jobs--far more than any owe-bama give-away program--and yet they're vilified for not paying additional monies to the IRS!!
You’ve heard that my friend Warren Buffett pays a lower tax rate than his secretary -- because he’s the one who’s been pointing that out and saying we should fix it. The executives who are with me here today, not just behind me but in the audience, agree with me. They agree with Warren -- they should be fixed. They, in fact, have brought some of their own assistants to prove that same point -- that it is just plain wrong that middle-class Americans pay a higher share of their income in taxes than some millionaires and billionaires. Now, it’s not that these folks are excited about the idea of paying more taxes. This thing I’ve always made clear. I have yet to meet people who just love taxes. Nobody loves paying taxes. In a perfect world, none of us would have to pay any taxes. We’d have no deficits to pay down. And schools and bridges and roads and national defense and caring for our veterans would all happen magically. We’d all have the money we need to make investments in the things that help us grow -- investments, by the way, that have always been essential to the private sector’s success, as well, not just -- they're not just important in terms of the people that directly benefit from these programs, but historically, those investments that we’ve made in infrastructure, in education, in science, in technology, in transportation, that's part of what has made us an economic superpower.
owe-bama, again with the 'apples-versus-oranges' comparisons! Warren Buffett's annual compensation is primarily dividends and interest income which is taxed at 15%. The "Clown Prince" would like the public--the stupid people he plays to--to believe that Mr Buffett has actual earned income like any factory or office worker which is taxed in a range of 0% to 28%. The 'average' evil rich guy pays 21%; the top 10% of working-aged adults pay 34% of taxes; the bottom 45% of working-aged adults pay ZERO-PERCENT of taxes!! So much for the "Clown Prince's" class-warfare!!
FACT: Are you aware that Warren Buffett--the guy owe-bama parades around at all these class-warfare blatherings--owes the U.S. Treasury over ONE-BILLION-DOLLARS in unpaid income taxes?!?
And it would be nice if we didn't have to pay for them, but this is the real world that we live in. We have real choices and real consequences. Right now, we’ve got significant deficits that are going to have to be closed. Right now, we have significant needs if we want to continue to grow this economy and compete in this 21st-century, hyper-competitive, technologically-integrated economy. That means we can’t afford to keep spending more money on tax cuts for wealthy Americans who don’t need them and weren’t even asking for them. And it’s time we did something about it. Now, I want to emphasize, this is not simply an issue of redistributing wealth. That's what you’ll hear from those who object to a tax plan that is fair. This is not just about fairness. This is also about growth. This is also about being able to make the investments we need to succeed. And it’s about we as a country being willing to pay for those investments and closing our deficits. That’s what this is about. Now, next week, members of Congress are going to have a chance to vote on what we call the Buffett Rule. And it’s simple: If you make more money -- more than $1 million a year, not if you have $1 million, but if you make more than $1 million a year, you should pay at least the same percentage of your income in taxes as middle-class families do. If on the other hand, you make less than $250,000 a year -- like 98 percent of American families do -- your taxes shouldn’t go up. That’s all there is to it. That’s pretty sensible. Most Americans agree with me, so do most millionaires. One survey found that two-thirds of millionaires support this idea. So do nearly half of all Republicans across America.
I have to admire how this guy--the "Clown Prince"--can speak in the abstract; lies just roll off his tongue like 'sweet-nothin's' in Michelle Antoinette's ear!
Speaking of "....we've got significant deficits that have to be closed...." Where do you suppose the bulk of these deficits came from?!? From the $787 Billion PORKulus give-away; from the purchase of two auto manufacturers and giving substantial ownerships to the labor unions; from the untold billions-of-dollars passed out like gum-drops to owe-bama's- and owe-bamacRATic- supporters; from the untold billions-of-dollars given to various alternative energy companies who promptly filed bankruptcy; each and every one a result of one in the myriad of failed owe-bama economic policies!! The interest on the national debt alone is $226.2 BILLION; wasted money that's taken out of the economy; money that could stay in the economy to create hundreds of small businesses hiring several million unemployed workers!!
Remember when earning a million-dollars was really big stuff?!? Now, if you earn a--comparatively--measly $250,000.01, you're one of those evil, rich, pasty-white guys to be demagogued by the owe-bama regime in their attempt to tax them out-of-existance!!
So we just need some of the Republican politicians here in Washington to get on board with where the country is. I know that some prefer to run around using the same reflexive, false claims about wanting to raise people’s taxes. What they won’t tell you is the truth -- that I’ve cut taxes for middle-class families each year that I’ve been in office. I’ve cut taxes for small business owners not once or twice, but 17 times. As I said, for most of the folks in this room, taxes are lower than they’ve been, or as low as they’ve been, in 50 years. There are others who are saying, well, this is just a gimmick. Just taxing millionaires and billionaires, just imposing the Buffett Rule won’t do enough to close the deficit. Well, I agree. That’s not all we have to do to close the deficit. But the notion that it doesn’t solve the entire problem doesn’t mean that we shouldn’t do it at all. There are enough excuses for inaction in Washington. We certainly don’t need more excuses. I’d just point out that the Buffett Rule is something that will get us moving in the right direction towards fairness, towards economic growth. It will help us close our deficit and it’s a lot more specific than anything that the other side has proposed so far. And if Republicans in Congress were truly concerned with deficits and debt, then I’m assuming they wouldn’t have just proposed to spend an additional $4.6 trillion on lower tax rates, including an average tax cut of at least $150,000 for every millionaire in America.
owe-bama--as his defeat gets ever closer--blathers on about tax cuts for this business; tax cuts for that class of taxpayer. What this clown NEVER REFERS TO is the 'net effect' of his actions. While he cuts taxes on the one hand; he's establishing new fees, fines, reglatory red-tape which--in the end--never reduces taxpayer's tax liability; most generally increases revenues to the Treasury to continue feeding his insatiable spending proclivities!!
They want to go in the opposite direction. They want to double down on some of the inequities that already exist in the tax code. If we’re going to keep giving somebody like me or some of the people in this room tax breaks that we don’t need and we can’t afford, then one of two things happens: Either you've got to borrow more money to pay down a deeper deficit, or you've got to demand deeper sacrifices from the middle class, and you've got to cut investments that help us grow as an economy.
You've got to tell seniors to pay a little bit more for their Medicare. You've got to tell the college student, we're going to have to charge you higher interest rates on your student loan or you're just going to get smaller student loans. You're going to have to tell that working family that’s scraping by that they're going to have to do more because the wealthiest of Americans are doing less. That’s not right. The middle class has seen enough of its security erode over the past few decades that we shouldn't let that happen. And we're not going to stop investing in the things that create real and lasting growth in this country just so folks like me can get an additional tax cut. We're not going to stop building first-class schools and making sure that they've got science labs in them. We're not going to fail to make investments in basic science and research that could cure diseases that harm people, or create the new technology that ends up creating entire jobs and industries that we haven't seen before. In America, prosperity has never just trickled down from a wealthy few. Prosperity has always been built from the bottom up and from the heart of the middle class outward. And so it’s time for Congress to stand up for the middle class and make our tax system fairer by passing this Buffett Rule. Let me just close by saying this. I’m not the first President to call for this idea that everybody has got to do their fair share. Some years ago, one of my predecessors traveled across the country pushing for the same concept. He gave a speech where he talked about a letter he had received from a wealthy executive who paid lower tax rates than his secretary, and wanted to come to Washington and tell Congress why that was wrong. So this President gave another speech where he said it was “crazy” -- that's a quote -- that certain tax loopholes make it possible for multimillionaires to pay nothing, while a bus driver was paying 10 percent of his salary. That wild-eyed, socialist, tax-hiking class warrior was Ronald Reagan. He thought that, in America, the wealthiest should pay their fair share, and he said so. I know that position might disqualify him from the Republican primaries these days but what Ronald Reagan was calling for then is the same thing that we’re calling for now: a return to basic fairness and responsibility; everybody doing their part. And if it will help convince folks in Congress to make the right choice, we could call it the Reagan Rule instead of the Buffett Rule. But the choice is clear. This vote is coming up. I’m asking every American who agrees with me to call your member of Congress, or write them an email, tweet them. Tell them to stop giving tax breaks to the wealthiest Americans who don’t need them and aren’t asking for them. Tell them to start asking everybody to do their fair share and play by the same rules, so that every American who’s willing to work hard has a chance at similar success, so that we’re making the investments that help this economy grow, so that we’re able to bring down our deficits in a fair and balanced and sensible way. Tell them to pass the Buffett Rule. I’m going to keep on making this case across the country because I believe that this rule is consistent with those principles and those values that have helped make us this remarkable place where everybody has opportunity. Now, each of us is only here because somebody, somewhere, felt responsibility not only for themselves, but also for their community and for their country. They felt a responsibility to us, to future generations. And now it’s our turn to be similarly responsible. Now it’s our turn to preserve that American Dream for future generations.
WHY--when he wants to APPEAR 'centrist'--does owe-bama invoke "Ronaldus-Magnus?!?" I'll tell'ya why: Ronald Reagan IS the best; the greatest president of BOTH the twentieth and twenty-first centuries!! Mister Reagan is one of the very few presidents in American history who truly took the best interests of the American citizen to heart. He presided over a period of almost unbelievable economic growth; 51 continuous months of increasing GDP! Over the ten-year period covering President Reagan's administration, revenues to the Treasury INCREASED nearly 30% due to his tax-rate reductions. As a result of the Reagan economic policies, those evil, rich, pasty-white guys paid more in taxes after the Reagan tax cuts than they did under the previous tax rates!! One needs no clearer evidence than Mr Reagan's policies to conclude the Buffett Rule is but one more of owe-bama's myriad of presidential failures.
Eisenhower Executive Office Building,
District of Corruption
April 11, 2012
(A Conservative Perspective....?)
Lately, we’ve been talking about the fundamental choice that we face as a country. We can settle for an economy where a shrinking number of people do very, very well and everybody else is struggling to get by, or we can build an economy where we’re rewarding hard work and responsibility -- an economy where everybody has a fair shot, and everybody is doing their fair share, and everybody is playing by the same set of rules.
It can be said that every society; every segment of every society has rules, no matter how loosely perceived; how loosely applied. To that end--in federal governance--there are rules for all participants in the system. For Executive Branch edification: laws are written by the Congress, voted upon by the Congress, signed into law--or vetoed--by the president--or currently--our exalted ruler. The rule is: the president doesn't circumvent the Congress--and by extension, the will of the people--with executive orders to install 'a rule' disagreeable to both said Congress and said people.
The people who have joined me here today are extremely successful. They’ve created jobs and opportunity for thousands of Americans. They’re rightly proud of their success. They love the country that made their success possible, and most importantly, they want to make sure that the next generation, people coming up behind them, have the same opportunities that they had. They understand, though, that for some time now, when compared to the middle class, they haven’t been asked to do their fair share. And they are here because they believe there is something deeply wrong and irresponsible about that. At a time when the share of national income flowing to the top 1 percent of people in this country has climbed to levels we haven’t seen since the 1920s, these same folks are paying taxes at one of the lowest rates in 50 years. In fact, one in four millionaires pays a lower tax rate than millions of hardworking middle-class households. And while many millionaires do pay their fair share, some take advantage of loopholes and shelters that let them get away with paying no income taxes whatsoever -- and that’s all perfectly legal under the system that we currently have.
How would it skew the "Clown Prince's" doctrine of "class-warfare wins political office," to consider those evil rich, pasty-white guys' having paid their fair share of income taxes ....by extension?!?! Those evil, rich, pasty-white guys have created umpteen hundreds-of-thousands of--TAX PAYING--jobs--far more than any owe-bama give-away program--and yet they're vilified for not paying additional monies to the IRS!!
You’ve heard that my friend Warren Buffett pays a lower tax rate than his secretary -- because he’s the one who’s been pointing that out and saying we should fix it. The executives who are with me here today, not just behind me but in the audience, agree with me. They agree with Warren -- they should be fixed. They, in fact, have brought some of their own assistants to prove that same point -- that it is just plain wrong that middle-class Americans pay a higher share of their income in taxes than some millionaires and billionaires. Now, it’s not that these folks are excited about the idea of paying more taxes. This thing I’ve always made clear. I have yet to meet people who just love taxes. Nobody loves paying taxes. In a perfect world, none of us would have to pay any taxes. We’d have no deficits to pay down. And schools and bridges and roads and national defense and caring for our veterans would all happen magically. We’d all have the money we need to make investments in the things that help us grow -- investments, by the way, that have always been essential to the private sector’s success, as well, not just -- they're not just important in terms of the people that directly benefit from these programs, but historically, those investments that we’ve made in infrastructure, in education, in science, in technology, in transportation, that's part of what has made us an economic superpower.
owe-bama, again with the 'apples-versus-oranges' comparisons! Warren Buffett's annual compensation is primarily dividends and interest income which is taxed at 15%. The "Clown Prince" would like the public--the stupid people he plays to--to believe that Mr Buffett has actual earned income like any factory or office worker which is taxed in a range of 0% to 28%. The 'average' evil rich guy pays 21%; the top 10% of working-aged adults pay 34% of taxes; the bottom 45% of working-aged adults pay ZERO-PERCENT of taxes!! So much for the "Clown Prince's" class-warfare!!
FACT: Are you aware that Warren Buffett--the guy owe-bama parades around at all these class-warfare blatherings--owes the U.S. Treasury over ONE-BILLION-DOLLARS in unpaid income taxes?!?
And it would be nice if we didn't have to pay for them, but this is the real world that we live in. We have real choices and real consequences. Right now, we’ve got significant deficits that are going to have to be closed. Right now, we have significant needs if we want to continue to grow this economy and compete in this 21st-century, hyper-competitive, technologically-integrated economy. That means we can’t afford to keep spending more money on tax cuts for wealthy Americans who don’t need them and weren’t even asking for them. And it’s time we did something about it. Now, I want to emphasize, this is not simply an issue of redistributing wealth. That's what you’ll hear from those who object to a tax plan that is fair. This is not just about fairness. This is also about growth. This is also about being able to make the investments we need to succeed. And it’s about we as a country being willing to pay for those investments and closing our deficits. That’s what this is about. Now, next week, members of Congress are going to have a chance to vote on what we call the Buffett Rule. And it’s simple: If you make more money -- more than $1 million a year, not if you have $1 million, but if you make more than $1 million a year, you should pay at least the same percentage of your income in taxes as middle-class families do. If on the other hand, you make less than $250,000 a year -- like 98 percent of American families do -- your taxes shouldn’t go up. That’s all there is to it. That’s pretty sensible. Most Americans agree with me, so do most millionaires. One survey found that two-thirds of millionaires support this idea. So do nearly half of all Republicans across America.
I have to admire how this guy--the "Clown Prince"--can speak in the abstract; lies just roll off his tongue like 'sweet-nothin's' in Michelle Antoinette's ear!
Speaking of "....we've got significant deficits that have to be closed...." Where do you suppose the bulk of these deficits came from?!? From the $787 Billion PORKulus give-away; from the purchase of two auto manufacturers and giving substantial ownerships to the labor unions; from the untold billions-of-dollars passed out like gum-drops to owe-bama's- and owe-bamacRATic- supporters; from the untold billions-of-dollars given to various alternative energy companies who promptly filed bankruptcy; each and every one a result of one in the myriad of failed owe-bama economic policies!! The interest on the national debt alone is $226.2 BILLION; wasted money that's taken out of the economy; money that could stay in the economy to create hundreds of small businesses hiring several million unemployed workers!!
Remember when earning a million-dollars was really big stuff?!? Now, if you earn a--comparatively--measly $250,000.01, you're one of those evil, rich, pasty-white guys to be demagogued by the owe-bama regime in their attempt to tax them out-of-existance!!
So we just need some of the Republican politicians here in Washington to get on board with where the country is. I know that some prefer to run around using the same reflexive, false claims about wanting to raise people’s taxes. What they won’t tell you is the truth -- that I’ve cut taxes for middle-class families each year that I’ve been in office. I’ve cut taxes for small business owners not once or twice, but 17 times. As I said, for most of the folks in this room, taxes are lower than they’ve been, or as low as they’ve been, in 50 years. There are others who are saying, well, this is just a gimmick. Just taxing millionaires and billionaires, just imposing the Buffett Rule won’t do enough to close the deficit. Well, I agree. That’s not all we have to do to close the deficit. But the notion that it doesn’t solve the entire problem doesn’t mean that we shouldn’t do it at all. There are enough excuses for inaction in Washington. We certainly don’t need more excuses. I’d just point out that the Buffett Rule is something that will get us moving in the right direction towards fairness, towards economic growth. It will help us close our deficit and it’s a lot more specific than anything that the other side has proposed so far. And if Republicans in Congress were truly concerned with deficits and debt, then I’m assuming they wouldn’t have just proposed to spend an additional $4.6 trillion on lower tax rates, including an average tax cut of at least $150,000 for every millionaire in America.
owe-bama--as his defeat gets ever closer--blathers on about tax cuts for this business; tax cuts for that class of taxpayer. What this clown NEVER REFERS TO is the 'net effect' of his actions. While he cuts taxes on the one hand; he's establishing new fees, fines, reglatory red-tape which--in the end--never reduces taxpayer's tax liability; most generally increases revenues to the Treasury to continue feeding his insatiable spending proclivities!!
They want to go in the opposite direction. They want to double down on some of the inequities that already exist in the tax code. If we’re going to keep giving somebody like me or some of the people in this room tax breaks that we don’t need and we can’t afford, then one of two things happens: Either you've got to borrow more money to pay down a deeper deficit, or you've got to demand deeper sacrifices from the middle class, and you've got to cut investments that help us grow as an economy.
You've got to tell seniors to pay a little bit more for their Medicare. You've got to tell the college student, we're going to have to charge you higher interest rates on your student loan or you're just going to get smaller student loans. You're going to have to tell that working family that’s scraping by that they're going to have to do more because the wealthiest of Americans are doing less. That’s not right. The middle class has seen enough of its security erode over the past few decades that we shouldn't let that happen. And we're not going to stop investing in the things that create real and lasting growth in this country just so folks like me can get an additional tax cut. We're not going to stop building first-class schools and making sure that they've got science labs in them. We're not going to fail to make investments in basic science and research that could cure diseases that harm people, or create the new technology that ends up creating entire jobs and industries that we haven't seen before. In America, prosperity has never just trickled down from a wealthy few. Prosperity has always been built from the bottom up and from the heart of the middle class outward. And so it’s time for Congress to stand up for the middle class and make our tax system fairer by passing this Buffett Rule. Let me just close by saying this. I’m not the first President to call for this idea that everybody has got to do their fair share. Some years ago, one of my predecessors traveled across the country pushing for the same concept. He gave a speech where he talked about a letter he had received from a wealthy executive who paid lower tax rates than his secretary, and wanted to come to Washington and tell Congress why that was wrong. So this President gave another speech where he said it was “crazy” -- that's a quote -- that certain tax loopholes make it possible for multimillionaires to pay nothing, while a bus driver was paying 10 percent of his salary. That wild-eyed, socialist, tax-hiking class warrior was Ronald Reagan. He thought that, in America, the wealthiest should pay their fair share, and he said so. I know that position might disqualify him from the Republican primaries these days but what Ronald Reagan was calling for then is the same thing that we’re calling for now: a return to basic fairness and responsibility; everybody doing their part. And if it will help convince folks in Congress to make the right choice, we could call it the Reagan Rule instead of the Buffett Rule. But the choice is clear. This vote is coming up. I’m asking every American who agrees with me to call your member of Congress, or write them an email, tweet them. Tell them to stop giving tax breaks to the wealthiest Americans who don’t need them and aren’t asking for them. Tell them to start asking everybody to do their fair share and play by the same rules, so that every American who’s willing to work hard has a chance at similar success, so that we’re making the investments that help this economy grow, so that we’re able to bring down our deficits in a fair and balanced and sensible way. Tell them to pass the Buffett Rule. I’m going to keep on making this case across the country because I believe that this rule is consistent with those principles and those values that have helped make us this remarkable place where everybody has opportunity. Now, each of us is only here because somebody, somewhere, felt responsibility not only for themselves, but also for their community and for their country. They felt a responsibility to us, to future generations. And now it’s our turn to be similarly responsible. Now it’s our turn to preserve that American Dream for future generations.
WHY--when he wants to APPEAR 'centrist'--does owe-bama invoke "Ronaldus-Magnus?!?" I'll tell'ya why: Ronald Reagan IS the best; the greatest president of BOTH the twentieth and twenty-first centuries!! Mister Reagan is one of the very few presidents in American history who truly took the best interests of the American citizen to heart. He presided over a period of almost unbelievable economic growth; 51 continuous months of increasing GDP! Over the ten-year period covering President Reagan's administration, revenues to the Treasury INCREASED nearly 30% due to his tax-rate reductions. As a result of the Reagan economic policies, those evil, rich, pasty-white guys paid more in taxes after the Reagan tax cuts than they did under the previous tax rates!! One needs no clearer evidence than Mr Reagan's policies to conclude the Buffett Rule is but one more of owe-bama's myriad of presidential failures.
Tuesday, August 16, 2011
This 'n'That; August Sixteenth #2; Buffett
Note To Warren Buffett:
Warren: Rather than continuing to 'carry owe-bama's water,' by vilifying those millionaires and billionaires who'd rather create jobs than fund out-of-control federal spending, why not just send a check to the same out-of-control socio-fascists to pay down the public debt:
{*}Just send a check; how'bout $25,000,0000,000 (billion) or so?!? That'd be about .0000017% or so, of the $14++TRILLION debt!!
Maybe if you're really nice--and donate the required $36,000 to be seen in his presence--he might take you on his "Debt-Man, Driving" tour, or if you 'donate' more than is required, he may just invite you on his monthly vacation, this time to Martha's Vineyard, where you can view 'lesser souls' in their natural habitat; won't that be "just ducky?!?"
Til Nex'Time....
http://www.usdebtclock.org/
Warren: Rather than continuing to 'carry owe-bama's water,' by vilifying those millionaires and billionaires who'd rather create jobs than fund out-of-control federal spending, why not just send a check to the same out-of-control socio-fascists to pay down the public debt:
{*}Just send a check; how'bout $25,000,0000,000 (billion) or so?!? That'd be about .0000017% or so, of the $14++TRILLION debt!!
Bureau of the Public Debt{*}
Department 'G;' P.O. Box 2188,
Parkersburg, WV., 26106-2188
Maybe if you're really nice--and donate the required $36,000 to be seen in his presence--he might take you on his "Debt-Man, Driving" tour, or if you 'donate' more than is required, he may just invite you on his monthly vacation, this time to Martha's Vineyard, where you can view 'lesser souls' in their natural habitat; won't that be "just ducky?!?"
Til Nex'Time....
http://www.usdebtclock.org/
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