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NYT Admits: "Buffet Rule"is a Sham!

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posted on Apr, 11 2012 @ 04:21 PM
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Even after president Obama adopted the heralded "buffet Rule" as the centerpiece of his "fairness" agenda, many people have decided to look at the actual impact of such a "Rule," and its impact on the Obama budget.

Now, the New York Times, after waiting as long as it could, concedes that early ctritics were correct: the "Buffet Rule" yields about as much revenue as is necessary to sustain the debt-service on the Obama budget for 24 hours!


The Buffett Rule, which would raise an estimated $50 billion over 10 years, would not make an appreciable dent in the deficit or provide a lot more for essential programs.

Mr. Obama and the ‘Buffett Rule’

Even the NYT realizes that the actual effects are nowhere near what the Obama campaign implies.


Unfairness in the tax burden is one important example and driver of that divide. The White House released tax data showing that the average federal tax rate of the wealthiest 0.1 percent of Americans has fallen from 51 percent to [26 percent over the last 50 years. At the same time, the middle-class tax burden was basically unchanged or slightly higher, with those taxpayers paying 16 percent of their income in federal taxes in 2010, versus 14 percent 50 years ago.


The "Buffet Rule Hoax" has been exposed previously, but the Obama campaign seems to be intent on riding on this "fairness" myth/hoax as long as it can.
The "Buffet Rule" hoax revealed: Produces only $31B over 10 years; costs Billions more!

How long will it take for the US to wake up to how ignorance is being counted upon as an "asset" of the Obama campaign?

jw




posted on Apr, 11 2012 @ 05:44 PM
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It's always been more about appeasement fueled by the petty jealousies.

Not economics.

Obama has nothing much else to show.






edit on Apr-11-2012 by xuenchen because: (no reason given)



posted on Apr, 11 2012 @ 09:31 PM
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reply to post by jdub297
 


NO!
Obama has "Fairness" to parade around the country, when i means absolutely nothing to our pocketbooks.

So long as BHO can place himself aheaf of the line for "Fairness," the ignorant sheeple will go along and and mouth the words of the unspoken magic spell.

it's Time to deny ignorance

jw



posted on Apr, 12 2012 @ 06:53 AM
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reply to post by jdub297
 


The Buffet Tax = The Big Joke

If that is all that they have, then it's over.

Obama can't run on his record.

The next 3 months will be the worst months of his presidency.

We will see one distraction after another and that's it.



posted on Apr, 12 2012 @ 04:16 PM
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Here's an interesting idea of taxation:

www.stanford.edu...

Derek



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