Taxes are always initially passed by promising to "soak the rich", then
after they are passed the gradually effect everybody else as well. Once the
camel's nose is under the tent, the rest of the camel is sure to follow.
Keep un mind that when the income tax was initially passed, congress assured the
nation that this would apply to only 2% of the nation, "only the rich".
Re: "Obama in Florida pressing for 'Buffett rule'"Buffett rule? You mean the rule that says eurosocialist liberal political
hacks must use prevarication to push their deranged, devisive, unsustainable
You mean the rule that will raise revenues by only about $3 Billion per year
when he is running deficits in the trillions? BO isn’t pushing the Buffet
rule to close the deficit, he’s pushing it to maintain his class warfare
agenda.Revenue is not the problem, it is spending.
When you realize that the Federal Government is Suing a Warren Buffett-Owned
Company Over $366 million in Unpaid Taxes. The Berkshire division at the center
of the suit is NetJets, the private-aircraft company that caters to the
nation’s wealthiest — the people Mr. Buffett says should pay more in
taxes. The President doesn't talk about this law suit and the case behind
it which has gone on for years. Warren Buffett is a big talker as is the
Presideent. If Warren Buffett wants to pay more taxes for himself, it seems
like he would pay the $366,000,000 which he has owned for quite a while. He
doesn't like to pay interest but his attorneys will spend that in court
costs. Warren Buffett likes his power and the President is giving him his day
in Florida but the government is in court.
Let not forget the story that the AP ran 3 weeks ago titled
"'Buffett' tax would only yield $31B, report states". The AP
figured out that over 11 years the nation would collect $31 Billion from the
wealthy by following Obama's plans, that means that the tax on millionaires
would result in $2.8 billion/year in additional tax revenues. With a $1.4
Trillion deficit, that means that by taxing billionaires we cut the deficit by
0.2%.Cutting Ethanol Subsidies would result in a $6 billion savings.
Cutting unemployment benefits back to 6 months would save the government up to
$82 Billion.There are many more effective ways of saving money than
raising the taxes on millionaires.