By Chrissy the Hyphenated
I think Obama’s “Buffett Rule” should be called the “Bullshit Rule.”
I thought about the “Divide The Nation By Encouraging The Majority of Americans To Hate And Envy The Minority of Americans Who Are More Successful Than They Are Rule.”
But that wouldn’t fit on a bumper sticker.
The Obama campaign sent this out to supporters on behalf of the “Bullshit Rule”:
“This proposal makes sure millionaires and billionaires share the responsibility for reducing the deficit. The other side is already saying it’s ‘class warfare’ — that’s their rhetorical smokescreen for providing millionaires and billionaires special treatment.”
More like “Speaking truth to power.”
So “Bullshit Rule” it is.
Obama and his cronies say the wealthy pay less than the middle class, but that’s a lie.
According to the IRS, households making more than $1 million pay 29.1% of their income in federal taxes, while households making between $50,000 and $75,000 pay only about 15% in federal taxes.
Obama and his cronies say the wealthy should pay their “fair” share. But our federal income tax system is the opposite of fair.
According to the IRS, millionaires and billionaires make up less than one percent of all taxpayers.
In 2008, this group of Americans earned 20% of the total income, but paid the IRS 38% of all the personal income tax revenue.
Either way you look at it, it’s far from fair.
One percent of Americans paid thirty-eight percent of the income tax? Not fair!
The group that made 20% of the personal income paid 38% of the tax? Not fair!
And that was under the system that Obama and his cronies say gave the wealthy too many tax breaks!
In other words, THEY WANT TO MAKE THIS UNFAIR SYSTEM EVEN MORE UNFAIR!
They say our pointing this out is a “smokescreen to hide special treatment for the wealthy.”
I think their “Bullshit Rule” is a smokescreen to DIVERT ATTENTION from the REAL CAUSE of our national financial problem … DEMOCRAT SPENDING.
IRS Data Show Most Millionaires Pay Taxes at Higher Rate Than Middle Class
Published September 20, 2011