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Obama's Hypocrisy: Making Warren Buffett Richer


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keystone-xl-ban-enriches-warren-buffett-WEBHED-Obamas-Hypocrisy-Making-Warren-Buffett-Richer.htmInvestors Business Daily:

Hypocrisy: As the great investor's secretary sat with the first lady at the State of the Union, the president spoke of economic "fairness." Is it fair to make a supporter wealthier at the expense of the American people?

During the 2008 campaign, candidate Barack Obama cited billionaire Warren Buffett as one of his economic muses. In the 2012 State of the Union address Tuesday night, the president returned to his advocacy of the "Buffett rule," a proposed minimum tax on millionaires and billionaires.

To highlight his theme of "fairness," there in the first lady's box sat Buffett's secretary, Debbie Bosanek, whom the president has often cited as an example of the unfairness of our tax code and our economy as a whole. Obama claims she pays a lower tax rate than her boss.

"Now, you can call this class warfare all you want," the president told Congress. "But asking a billionaire to pay at least as much as his secretary in taxes? Most Americans would call that common sense."

No, most Americans would call that demagoguery.

Like GOP presidential candidate Mitt Romney, who's been attacked on his taxes, most of Buffett's income is from investments, not wages, which are taxed at a fixed rate.

And before they see any of this income, it's already been taxed at the corporate level at a much higher 35% rate.

Is this double taxation fair, Mr. President? If Buffett thinks he is undertaxed, he can write a check and send it in. Meanwhile, we'd like to see millionaires and billionaires putting their money into job-creating businesses that create wealth rather than redistribute it.

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Yes but Warren is not a member of the evil rich, He want's to pay more in taxes, I mean he really does. Is it is fault that he can't find the right form to send extra in?

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