“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,’ ” Obama declared Wednesday. “Well, I agree.”
But it works for ME, what the hell, might as well…I will say anything to get re-elected so I can be “flexible”.
“The notion that it doesn’t solve the entire problem doesn’t mean that we shouldn’t do it at all,” he explained.
Who cares about the economics. It’s good politics.
So let’s cut spending, it won’t solve the whole problem but it doesn’t mean we shouldn’t do it right? 🙂
Appointing the Simpson-Bowles commission and then disregarding its findings, offering a plan for business tax reform only, and issuing a series of platitudes. The Buffett Rule, rather than overhauling the tax code, would simply add another layer.
And another layer of bureaucratic morass can’t be bad and beside it’s more “fair” and that’s much more important. 🙂
A search of the White House Web site yields 17,400 mentions of the Buffett Rule — a proposal that would bring in $47 billion over 10 years (That’s 4.7 billion a year– The government current has a debt of over 3 billion a day!- Wow! That’s a great plan!), much of that from 22,000 wealthy households. By contrast, the alternative minimum tax gets fewer than 600 mentions on the site. The AMT, if not changed, will take about $1 trillion over a decade from millions of taxpayers, many of whom earn less than $200,000 a year.
And the DEMOCRATS passed the AMT back in 1968 as a way to stick it to 155 millionaires!
YES, I SAID 155 Millionaires!
In August 1969 as he was preparing the next year’s budget <Treasury Secretary> Barr warned that the country faced a taxpayers’ revolt. He explained, according to the Washington Post, that in 1967 there were a total of 155 individuals with incomes over $200,000 who did not pay any federal income taxes; twenty of them were millionaires. These individuals successfully used all tax loopholes available to legally evade paying taxes. The revelation attracted wide media attention and led to public shock.
Sound familiar? Gee, Liberals don’t stray very far from their “fair” tree do they. 🙂
And funny how that all worked out. You don’t think it could happen again do you? 🙂
The politics of the Buffett Rule — it has no chance of passing when the Senate takes it up next week — are so overt that Obama’s remarks Wednesday were virtually indistinguishable from a section of his campaign speech in Florida on Tuesday.
Wednesday: “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 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.’ . . . That’s not right.”
So does this mean he admits to being an evil “rich” Millionaire. Aren’t they untrustworthy, selfish, self-centered, egotists only looking out for #1?-themselves 🙂
Tuesday: “If somebody like me, who is doing just fine, gets tax breaks I don’t need and that the country can’t afford, then one of two things is going to happen: Either it gets added to our deficit . . . or, alternatively, you’ve got to take it away from somebody else — a student who’s trying to pay for their college, or a senior trying to get by with Social Security and Medicare. . . . That’s not right.”
Parts of Obama’s “official” speech will no doubt be repeated on the stump, including the points that “we just need some of the Republican politicians here in Washington to get on board with where the country is,” that Obama cut taxes 17 times (the bobbleheads nodded in agreement), and the contention that Republicans today would view Ronald Reagan as a “wild-eyed, socialist, tax-hiking class warrior.”
Nothing is inherently wrong with campaign-style rhetoric from the White House; George W. Bush used it repeatedly to pass his tax cuts and in his attempt at a Social Security overhaul. The pity is that Obama doesn’t use his unrivaled political skill to sell a tax plan of more consequence — and less gimmickry. (Dana Millbank)
The federal tax code with its 44000 pages, 5.5 million words, and 721 different forms so whose going to notice one more gimmick?
According to the National Taxpayers Union, we each waste about 12 hours a year, every year, filling out this crazy stuff. Schedule B. Schedule C. Above the line. Below the line. Deductions, exemptions, non-refundable credits. Medical bills over 7.5% of adjusted gross income. The instruction booklet for the 1040 now runs to 189 pages. No kidding. Seventy-five years ago, says the NTU, it was two pages.
The U.S. tax code is insane and out of control. It’s tripled in a decade. It now runs to 3.8 million words. To put that in context, William Shakespeare only needed 900,000 words to say everything he had to say. Hamlet. Othello. The history plays. The sonnets. The whole shebang.
Your tax bill this year is a lie. You’re only seeing about two-thirds of the full cost of government services. Really. Taxes are $2.3 trillion. Government spending is $3.6 trillion. The rest is being put on the national credit card.
The tax bill is a lie every year. We’ve only paid our bills in full on April 15 five times in the last fifty years. The last president to balance the books every year he was in office? Calvin Coolidge — back in the 1920s.
But ultimately he’s not selling anything but himself. It’s all about HIM. The universe does revolve around him and he just has to get you to see it too.
So it begins…
In 2008, a mostly unknown Barack Obama ran for president on an inclusive agenda of “hope and change.” That upbeat message was supposed to translate into millions of green jobs, fiscal sobriety, universal health care, a resetting of Bush foreign policy, and racial unity.
Four years later, none of those promises will be themes of his 2012 re-election campaign. Gas has more than doubled in price. Billions of dollars have been wasted in insider and subsidized wind and solar projects that have produced little green energy.
Unemployment rates above 8 percent appear the new norm, when 5 percent in the past was dubbed a “jobless recovery.”
From the Middle East to the Korean peninsula, the world seems on the brink. Modern racial relations are at a new low.
If borrowing $4 trillion in eight years was “unpatriotic,” as Obama once labeled George W. Bush, no one quite knows how to term the addition of $5 trillion in new debt in less than four years. ObamaCare is unpopular with the public. Its constitutionality now rests with the Supreme Court.
After four years, the claims of “Bush did it” and “It might have been worse” grow stale. So re-election will rest not on a new agenda, or an explanation of what happened, but on a divide-and-conquer strategy. Translated, that means Obama will find fissures in the voting public over fairness, expand them, and then cobble together various angry partisans in hopes of achieving a bare majority. Such an us/them strategy is not new in American history.
There are suddenly new enemies called the “one percent” — those who make more than $200,000 per year and who “do not pay their fair share.” Apparently in a zero-sum economy, this tiny minority has taken too much from the majority and thereby caused the four-year lethargy that followed the 2008 meltdown. Andrew Jackson, William Jennings Bryan and Franklin D. Roosevelt all ran, with varying success, against the selfish “rich.”
Congress is also now a convenient enemy of the people. Although it was Democratically controlled in Obama’s first two years, and the Senate remains so, the new theme insists that a Republican House stops the Democrats from finishing all the good things they started. When support for 16 years of the New Deal had evaporated by 1948, Harry Truman ran successfully against a “do-nothing” Republican Congress that had blocked his own big-government “Fair Deal” follow-up and thus supposedly stalled the economy.
In 2009, Obama pushed through his health care plan by a narrow partisan margin in the House, despite constitutional questions about the individual mandate. Now, as the Supreme Court seems skeptical of the legality of ObamaCare, the president seems to be running against “unelected” justices. That could work too. In 1968, Richard Nixon squeaked by Hubert Humphrey in a divisive campaign, in part by lambasting the activist Warren Court that had done everything from outlawing school prayer to supporting school busing.
Team Obama has seized on the Democrats’ allegations of a “war on women,” waged by both Republican and Catholic grandees against federal subsidies of birth control. For the first time since the campaign of John F. Kennedy a half-century ago, the role of the Catholic Church in politics is suddenly a landmark issue.
The president faults “Big Oil” and tension in the Middle East — not his own failure to develop vast new gas and oil reserves on public lands — for high gas prices. Jimmy Carter likewise blamed greedy oil companies and the Middle East in 1980, after gasoline prices spiked and lines formed at filling stations.
Suddenly, after the Trayvon Martin tragedy and what may prove to be murderous white vigilantism in Oklahoma, race again looms large. President Obama and Attorney General Eric Holder have weighed in often on that issue. The former castigated police for acting “stupidly” in one incident, and more recently reminded the nation of the racial affinities between himself and Trayvon Martin. The latter blasted the nation’s reluctance to discuss race as cowardly, and alleged racial bias among his own congressional overseers. Race is always an explosive wedge issue. In 1964, Lyndon Johnson ran successfully in part on the need to expand civil rights, while in 1968 Richard Nixon found traction in the backlash against racial violence.
If Obama can cobble together disaffected young people, greens, women, minorities and the poor — who all believe a nefarious “they” have crushed their dreams — then massive debt and deficits, high unemployment, sluggish growth and spiraling gas prices won’t decide the election.
Lots of presidential candidates have run by identifying such enemies of the people, rather than debating the general state of the nation — sometimes successfully, sometimes not.
But the problem with an us/them strategy is not just winning an election, but trying to put back together what was torn asunder. (Victor David Hanson)
Assuming a Democrat would want to do that to begin with. Divide and Conquer is more satisfying when you get to the Conquer bit.
Conquering is good.
Conquering is “fair”
Conquering gives you the power to do what you want when you want because you want to. And doesn’t every “selfless” and “fair” liberal just want “fairness” and “justice” for all. :0