Obama's Buffet Rule - serious or a campaign stunt? - Granite Grok

Obama’s Buffet Rule – serious or a campaign stunt?

Update:

NTU - Who Pays Income Taxes - 2009So, Joe Biden wants to come and defend this crock?  Hey Joe, those folks ARE paying the same rates on their EARNED income – how else is the top 1% paying 37% of all income taxes? And if this chart is insufficient, try these.  Fair, Joe Biden – how much is enough to be “fair” to “help others”?  Remember, this?

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Obama, over the last two weeks has let us all know that he is in full campaign mode – after all, he is attacking pretty much anything that moves in the political world that doesn’t fit his political worldview (boy, how paranoid he must feel to know that everyone is out to “get him”?  Well, sport, you’ve kinda brought it upon yourself, eh?).  Certainly, one of his tools is going to be those misbegotten words (at least, now it is) “fair” and “fairness”.  Sure he uses it, but as I have learned over last few years, he isn’t about to define and REALLY state what “fair” and “fairness” is, other than to be a political club against his enemies (and make no mistake – we’ve seen him treat those that most of us would consider to be national enemies (or, “not friends at all” at best) far better than his political rivals here at home.  Truly, he believes that old saw “Conservatives believe that Liberals are just wrong; Liberals believe that Conservatives are EVIL!” and treats everyone else as such (why does Obama hate “The Other” so much?  Isn’t he all about diversity?  Oh, sorry, that only goes skin deep – ask his Granny).

For a guy that promised so much to be a “post-political” President and “unite us and heal our planet” kind of guy, he’s really showing his BULLY side, ain’t he?

So it is with the rich.  He’s been gnawing at the rich ever since he had a lucid thought in his head and amped it up since becoming President.  Like the true Socialist Progressive he is (darn, we don’t have NH Democrat Party spokesflack Harrel Kirstein to kick around any more, I guess Collin Gately will have to hold up the “Political Correctness Flag Here” duties – don’t worry, we’ll train you right.).  It isn’t enough for Obama to own the most progressive tax code and highest corporate tax rate in the world, but he’s going to make it even worse with his Buffet Rule (we’ve talked about this at length here, here, here, here, here (interview with Grokster Steve), and here (see the comments)).

Essentially, he wants to tax the millionaires and billionaires at the same rate as the rest of us.  Er, NO, he doesn’t – he want to change the tax code so that capital gains (ditto) will be charged HIGHER, MUCH HIGHER, taking away their usefulness as “capital formation tools” for our economy.  Obama truly believes that our economy, even as he speaks differently, is a zero-sum game and it is his DUTY to take away what others have earned to give it to those that have not (even kids can figure out this is wrong).

When dealing with the tax code in this manner, what will Obama accomplish besides having that political speaking point club?  This shows a little; after the jump shows just how “effective” Obama intent really would be (kinds sums up his Presidency, dontcha know?):

Obama's Buffet Rule Impact

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