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Obama’s Slander Against the Rich

Yes, they do pay more taxes than you or I do.

And Warren Buffett is a poopoo head. There, I said it. He’s figured out how to pay less taxes than his secretaries. What a jerk.

Most rich people that I’ve known didn’t inherit their money – or if they did they’ve grown their bequest – work constantly, and incur damage to relationships with friends and families to achieve their goals.

And they pay their taxes.

President Obama Monday in the Rose Garden launched the class warfare element of his political campaign with a deficit reduction/economic rescue proposal most likely crafted by those eminent economists, David Plouffe and Jim Messina (the chief White House political adviser and the manager of Obama’s 2012 campaign, respectively).

This particular proposal, with its attack on the rich, seems designed to fire up Obama’s liberal base, which just eats this stuff up for breakfast, lunch and dinner.

Obama served up the erroneous – actually, to say this is an error is charitable – impression that the wealthy pay a lower percentage of their income in taxes than the middle class

Any reform plan will have to raise revenue to help close our deficit.  That has to be part of the formula.  And any reform should follow another simple principle:  Middle-class families shouldn’t pay higher taxes than millionaires and billionaires.  That’s pretty straightforward.  It’s hard to argue against that.  Warren Buffett’s secretary shouldn’t pay a higher tax rate than Warren Buffett.  There is no justification for it.

It just isn’t true. A “fact check” run today by the Associated Press – not really a foaming den of libertarianism – tells a very different story.

Buffett wrote in a recent piece for The New York Times that the tax rate he paid last year was lower than that paid by any of the other 20 people in his 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 and payroll taxes, according to the Tax Policy Center, a Washington think tank.

Households making between $50,000 and $75,000 will pay 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.

What’s more, the top one percent actually pay about 40 percent of all federal income taxes.

Keith Hennessey, George W. Bush’s top White House economic adviser, has a good rundown of the actual numbers behind Obama’s massive tax increase proposal.

If Obama wanted to courageously lead on the deficit, he’d take a political risk and tackle entitlements. Instead, he does nothing to reduce the growth of Social Security, and his limited effort to restrain Medicare includes almost no cuts to the growth in spending on beneficiaries. Instead, he mostly hits providers, whose lobbyists will assuredly have these reductions rescinded.

If you are wondering why there is no bipartisanship today, let me transport you to another time when there was more cooperation, and to another Democrat who sounds today like SOME CRAZY TEA PARTY SUPPLY-SIDING REDNECK BEER-GUZZLING IGNORAMUS.

John F. Kennedy.

Pretty stunning, isn’t it? H/T to Ace of Spades, where I saw the Kennedy video.

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36 Responses to Obama’s Slander Against the Rich

  1. Keith, you can’t bring up facts when there are political points to be scored. Consider yourself reported to attackwatch.com. The good news is, this report puts me only five away from earning a brand new brown shirt.

  2. I must be missing something. I thought the TaxTheRich plan was to convince the public that his not-paid-for JobsPlan would be “paid for” and not to reduce the deficit. They way I understand it, the extra revenue would help finance the not-shovel-ready repairs of roads and bridges, paying teachers and other public employee salaries and some sly kickbacks to political allies.

    The Obamas are multi-millionaires but exercised their right to various income tax deductions that resulted in a $12,000 tax refund. When we see the President present a check to the Treasury for $12K then we’ll know he’s serious.

    • You know he’s not serious….this has zero chance of getting through the House. Just another blaming point for the campaign. I made just South of 200K last year and paid over 40K in federal and state taxes.

      I can’t wait to pay more!!

      Time to retire….I’m tired of supporting the entitlement class.

      • How can Independents, Conservatives, and Republicans get the message out to BHO’s “brainwashed” supporters that nobody should need to pay on average $12.50 to $15 to almost $30 out of every $100 they earn to the Fed Govt! On top of that are state income taxes, city earnings taxes, local sales taxes, school district taxes, special school district taxes, community college and library district taxes, real estate property taxes, personal property taxes, all of the “phone service” taxes(?), plus sewer district surcharges, trash hauling services/neighborhood association fees, and on and on and on.

        DC MUST CUT SPENDING! Sorry for yelling at the Chorus Members. Why don’t BHO & Dems get IT: cut taxes=more money to spend=more demand for businesses & services=need to hire workers to meet needs=more revenue streams locally, state-wide, and to feds=economic growth and recovery=more stability=fewer migraines!

        Small towns and urban business owners of Mom & Pop stores, barber shops/salons, shoes and clothing, small neighborhood markets, cleaners, repair shops, pharmacies, diners, etc., etc. that hire neighborhood residents and family to work are nearly wiped-put already! BHO has proposed an “earlier than expected” death to the American citizens’ ability to earn a living on their own, provide for families’ needs, support their communities which would revive our towns and cities!

        If somebody lives in CA or NY where the costs of living are so much higher than other states, $250,000 with three children, a huge mortgage, a business to run and workers to pay, old equipment to replace, etc., etc., may seem as if they are “rich” to others, but in reality they are just trying to stay afloat like the vast majority of Americans!

        BHO Adm, Czars, Advisers, and all DC LEGISLATORS SHOULD BE REQUIRED TO TAKE ECONOMICS 101 or better yet, LIVE in the REAL WORLD!

    • I think you’re right srdem. The “TaxTheRich” plan is to pay for the nationally televised ReplenishMyCampaignCoffer plan he put forward post-Martha’s Vineyard vacation. I’d like to add that we might take him and his plan more seriously if Mr. Buffett would cough up the $1 billion he owes in back taxes as well.

  3. What? A Democrat, a scion of the Democrat party, calling for tax cuts? This must have been dubbed or something.

    Actually, Kennedy learned from his mistakes (at least when it came to running the country, his personal life not so much). And he, like Reagan, understood that the only way to increase tax revenue was to allow businesses to grow and have businesses and the people reinvest their money into the economy. Unlike the current crop of Democrats who think that the government is the end all of everything, Kennedy trusted the people to know what is best for them when it came to living their lives.

    While not a Kennedy fan, the man’s personal moral compass pointed south, he had back bone to stand up to the Soviets, knew what the economy was based on, had respect for the military (get a boat blown out from under you and you get a new understanding about what an enemy is), and believed in this country. His words, “Ask not what your country can do for you . . .” have resonated with me all my life. They are the reason that I spent the majority of my adult life in service to my community and country.

    Obama and the Dems today have no clue as to what a true patriot is, nor do they care. If JFK were alive today, I would bet that he would b-slap Obama, Carter, Reid and the rest of them.

  4. Teachers, cops & firefighters are the human shields of the LEFT. A couple of firsthand examples: Teachers get 15% discount at Michaels art supplies. Guys like me who paint for a living? Nada. Cops get 50% discount at Shanes Rib Shack. Parking lot looks like a crime in progress. (actually, there is ironically enough). Firemen at local Kroger get a discount -not sure the amt. but they eat better cut of meat than we do.

    But I can live w/ that if I have to. This I cant’:
    http://www.youtube.com/watch?v=o64Fz-KW1Dk

  5. I like ‘rich’ people. My husband works for a non-profit and we have seen many rich people serve on the board, volunteer to help or on occasion when money is really tight, whip out their check book and say, ‘How much do you need?’ And they write a check on the spot; not for $10, 50 or 100 but for thousands of dollars. It brings tears to my eyes to see their generosity.

    Really? Tax the bastxxds?

  6. These “folks” make my skin crawl–those prissy little pinched fingers pointing, the “it’s math” stuff…ew. We so dumb. Drool. Even David Brooks says he was a “sap” to think this would be a real proposal–and the NYT Greek chorus, of course, blasted in with versions of “It’s the Republicans, they are meanies” or whatever. I feel like I am in the audience of a long-running play…like being around my Mom, who has “memory deficits.” Brooks, I am sure, will find something else to love–maybe a nicely pressed rolled up sleeve instead of the sexy pants cuff…and the show will go on.

    Buffett, for my money, was a money manipulator who now plays bridge on his computer and when it breaks, he calls Bill Gates to send someone over. True story. I could not make this up. The old guy is just lonely.

  7. “And they pay their taxes”

    Your friends must, by default, be Republicans. If history has shown us anything (Geithner, Buffet, Daschle), democrats don’t pay their taxes.

    • That’s a good point. Maybe the reason Pres. Obama thinks rich people don’t pay their taxes is because everyone he knows who is rich, doesn’t.

      • I have little doubt about this – I believe lefties are always projecting their own weaknesses on everyone else. They can’t believe people would give to charity, because they don’t. They don’t believe rich people pay their taxes, because they don’t. They are constantly reinforcing their own view of “racism abounds” simply because they can’t get past other people’s skin when they look around the world. Gives you a bit of food for thought:

        Why do they constantly worry that someone with a strong religious background in the Oval Office will foist their opinions on the public at large? (unlike, of course, the President’s rather socialist viewpoints)
        Why are the lefties always worried about “crony capitalism?” (see Solyndra for details)
        Why do the democrats constantly decry corporate ownership? (see GM for additional details)

        The drivel that emanates from the lefty’s mouths give wonderful insight into the occasional thoughts they have bouncing around their drug-reduced brains.

        • ROD: “Why do they constantly worry that someone with a strong religious background in the Oval Office will foist their opinions on the public at large?”

          ANSWER: afraid of getting “Christian Cooties”. duh…

          • Sadly, another important reason is that most Libs/Dems ignore or do not understand nor have they read the Constitution, studied FACTUAL history (not revised), and they are completely unaware that America’s Founding Fathers’ Judeo-Christian values and principles are the very BASIS of all Law and Order in the USA and most other civilized nations!

  8. JFK’s daddy made his fortune and bought JFK’s political seats (Congress, Senate, White House) with MONEY$$$ from “criminal capitalism”

  9. I don’t hate the rich–I just think some of them are pretty dopey and I actually include my sister in this…A tree in front of her house died and she was complaining that the “landscape guy” wanted more than his monthly fee to remove it. Aw. Also..Some Tea Party Congressman is bleating that he can’t get by on $200K a yr–this is what’s left after he buys more Subway restaurants or something. Then I see Biden extolling Solyndra on the news–he has been in Congress for all his damn life, helping the credit card cos in Delaware, sucking down all the perks…He sure knows a lot about real life…