Shockingly, Obama Calls For Taxation On Millionaires, Refuses To Send Check To IRS Himself

18 Sep, 2011 by William Teach

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Yeah, I guess I should say something about Obama’s “Buffett tax,” though I really, really, really didn’t want to link the NY Times, thanks to that despicable 9/11 op-ed by Krugman. Alas,

President Obama on Monday will call for a new minimum tax rate for individuals making more than $1 million a year to ensure that they pay at least the same percentage of their earnings as middle-income taxpayers, according to administration officials. …

Mr. Obama, in a bit of political salesmanship, will call his proposal the “Buffett Rule,” in a reference to Warren E. Buffett, the billionaire investor who has complained repeatedly that the richest Americans generally pay a smaller share of their income in federal taxes than do middle-income workers, because investment gains are taxed at a lower rate than wages.

So, a little more than a week since Obama gave his big speech on creating jobs, and less than a week since he actually submitted his plan to Congress, and we can formally and officially see what his “jobs” bill is about (as I’ve stated): class warfare and taxation, playing to his unhinged base which sees profit (for some people) as evil. Not bad, not mean, not wrong, but evil. And rather than voluntarily paying more, then want everyone else to suffer.

We can expect to hear about this Buffett Rule for weeks on end. Perhaps an enterprising reporter can ask Obama about job creation. The deer in the headlights from Obama will be priceless.

Powerline explains just why this whole tax the rich idiocy will fail.