Politics

Obama to Propose a New Minimum Tax Rate for High Earners Dubbed the ‘Buffett Rule’

Obama to Propose Millionaires Tax Called the Buffet Rule

On the same day that crowds gathered to protest on Wall Street, reports have emerged that President Barack Obama will call for a new base tax rate for the wealthy on Monday. Looking to gain populist support and to put pressure on Republicans, the President plans to call on a rate that will ensure that millionaires “pay at least the same percentage of their earnings as middle income taxpayers,” according to administration officials who spoke with the New York Times Saturday.

“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.”

A White House official said the proposal would be included in the president’ proposal for long term deficit reduction that he will announce Monday. The official spoke anonymously because the plan has not been officially announced.

The measure would be in addition to $447 billion in new tax revenue that Obama is seeking to pay for his short-term spending and tax cutting plan to jump start the economy. The Times reports that the tax hike will be for individuals making more than $1 million dollars a year.

House Speaker John Boehner said Thursday he would oppose tax increases to reduce the deficit.

The Associated Press contributed to this article.

Comments (322)

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  • longun45
    Posted on September 17, 2011 at 8:08pm

    OBUMMER — Stick it!!!!!

    Report Post »  
    • chazman
      Posted on September 17, 2011 at 8:27pm

      … you do not TAX the American people, you cut the size of government!!! What part of that do you not understand, you friggin’ MORON!!! Just get the hell out, you idiot …

      Report Post »  
    • Gold Coin & Economic News
      Posted on September 17, 2011 at 8:38pm

      What? The President gets to decide how much rich people get taxed? Are you effin kidding me. This is straight out of the Socialist handbook. Since when does the President get to decide how much he wants to steal from the rich?

      This is OUTRAGEOUS and is bound to lead a really bad situation. Glenn Beck and Rush are instigators because of their talk and this child, pretend leader wants to do nothing more than dictate how much money the rich have to give to the government. Honestly, who the HELL does he think he is?

      I fear the outcome of where this is going.

      Report Post » Gold Coin & Economic News  
    • Exrepublisheep
      Posted on September 17, 2011 at 8:48pm

      I see rich people have loosed their dogs. The rich are in no danger, they SHOULD pay a fair share. Oil companies are among the richest in history and they’re STILL outsourcing jobs. You fools will bark yourselfs right into those welfare lines you hate today. Your labor should receive fair compensation, which would not happen without threats of job actions. Instead you laugh at the strings telling you how to act. 1 John 3:17-18. But whoso hath this world’s good, and seeth his brother have need, and shutteth up his bowels of compassion from him, how dwelleth the love of God in him? 18 My little children, let us not love in word, neither in tongue; but in deed and in truth. God will punish the rich, and maybe those who propped them up too.

      Exrepublisheep  
    • Marci
      Posted on September 17, 2011 at 8:58pm

      So basically, you want to hurt investors? This will hurt investors in all income ranges, make no mistake. And it won’t do anything to affect the economy positively—all it amounts to is a class warfare move to appease his idiot followers. This man is a disgrace. As for Buffett, he sure complains a lot but I don’t see him DONATING his money to solve the problem. That’s the problem for out of touch billionaires, they woe the injustice because they haven’t had to scrape together any money for so long that they honestly believe that it is a neverending supply and will not affect them. Why is he not for equally making everyone poor including himself?

      Report Post » Marci  
    • hifi74
      Posted on September 17, 2011 at 9:01pm

      Hey Obama, here’s a thought when you decide to institute this “buffet tax”. GET YOUR BUDDY BUFFET TO PAY HIS OWN DAMN TAX YOU IGNORANT TWIT!

      Report Post » hifi74  
    • what4
      Posted on September 17, 2011 at 9:23pm

      To think we are STUCK with this IDIOT for another year….Really SUCKS!

      Report Post »  
    • dealer@678
      Posted on September 17, 2011 at 9:39pm

      Osama has lost his mind. Im convinced of it

      Report Post »  
    • booger71
      Posted on September 17, 2011 at 9:41pm

      The rich are in no danger, they SHOULD pay a fair share”

      What about the bottom 47% paying something. Wouldn’t that be fair? They enjoy the same things (military, roads, law enforcement) that the other 53% provide through federal payroll taxes. Plus they get other benefits that the upper 53% provide but do not qualify for ( housing, food, medical care, college,) It is time these takers start providing for themselves. Also, the rich give freely to charities (R‘s more than D’s). Jesus never said give freely with a Roman sword in your back.

      Report Post » booger71  
    • Hobbs57
      Posted on September 17, 2011 at 9:45pm

      What a moron. People will just not invest then. Those who are the wealthiest investors have all their money off shores anyways. They will just go to other markets and leave the money and profits out of the US until it proves profitable to bring it back. Those who will suffer most of the the service industry companies.. They are the ones who benefit from the extra disposable wealth the most. The whole thing is, this socialist doesn’t really even care about taxing these people as much as he desires to control them. He is trying to sink the free market so that the only game in town is government spending. Trying to force this nation into socialism for the reason that he made it so terrible expensive and burdensome to have it any other way. You know, these far lefty intellects have terribly damaged our nation in a way we have never known before. I suspect most of America wouldn’t have any problem helping their brother out trough programs by the government is t just stoped there. It never does though. They have to keep pushing the envelope trying to reach the perfect place that doesn’t exist. It reminds me of my mother, who is one who has always had this dream and expectation of how she wants her life one day. I can’t get it through her thick skull that maybe the reason she is no closer to that place she desires than 30 years ago is because maybe, just maybe, her plan is working. Nope, she will just keep pounding sand, refusing to come to terms with the fact she has been livin

      Report Post » Hobbs57  
    • DAZ
      Posted on September 17, 2011 at 9:49pm

      Warren Buffett’s company “Berkshire/Hathaway” earned over $15 billion for the year 2010. That is 7,500 times more than a person making $2 million per year. For Obama to proclaim that a Millionaire is the same as a Billionaire is deceptive and dishonorable, let alone mathematically incorrect. Furthermore, Berkshire paid $5.6 billion in taxes in 2010. About 29%. If Obama’s plan was to have the 50% of Americans who don’t pay any taxes at all, to pay their “fair share” of 29%, then everybody would finally have some skin in the game. There is no mathematical accounting symbol for “fair”. Fair is a subjective term, interpreted differently by a person with ethics, versus one who is self serving. So let’s stick with real math terminology and start using the term “equal”, such as, all American’s should pay their “equal share” based on a percentage of their net income or net purchases. Then see how fast Government spending would be reduced. Nevertheless I must admit, as a group of people, Progressives are by far the most generous …….. with other people’s money.

      Report Post »  
    • Nasado
      Posted on September 17, 2011 at 9:49pm

      @Exrepublisheep
      Please tell me where in those passages that you quoted it says that it is God’s will that the government forcefully take the money at the point of a gun and give it to others? Thats right, it doesn’t. You completely miss the point of it. What good does it do someone to have the mone taken from them then given to others? None because they are not doing it of their own free will. The wealthy are the largest contributers to charities and the US, the wealthiest nation on Earth, is the most sharitable nation. Now, what do you think will happen to all those contributions when they are taxed close to 50% of their income? You want people to pay their fair share then also cry for the close to 50% of Americans who pay no income tax. What is their fair share of all the services that others pay for? If Buffet thinks he should pay more, then why dosen’t he? Why do his accountants find all the loopholes they can for him? As soon as I see liberals first fork out what they think the rich should pay, then I will begin to listen. Until then it is just a group of people who contribute nothing calling for others to contribute more.

      Report Post »  
    • Silversmith
      Posted on September 17, 2011 at 10:12pm

      Flat tax at the cash register for everything. Stop all other miscellaneous taxes, and there’s no problem. Everyone pays the same rate. Congressmen and theives – or am I being redundant.

      Silversmith

      Report Post » Silversmith  
    • Exrepublisheep
      Posted on September 17, 2011 at 10:18pm

      @nasado. Way to change what you read to fit your response. A)The govt uses guns to tax people? B) Taxes are always here. Are you suggesting there should bw NO taxes? C) NO one is asking to tax the rich 50%. D) Good for the goose, good for the gander. You really think ANYONE would volunteer to pay more when their counterparts can pay less? You are right about the U.S. being the most generous people on the planet, but the vast majority of that money comes from the middle class as a whole. We should go back to the last time we actually had a balanced budget, you know, like under Clinton.

      Report Post » Exrepublisheep  
    • The-Monk
      Posted on September 17, 2011 at 10:29pm

      Now I hope all you people looked up the word, “buffet”?
      http://en.wikipedia.org/wiki/Buffet
      It has more than one meaning. Obamas’s new “buffet rule” might simply mean that he wants to feast at a grand table of multiple choices. Look it up. When was the last time you were at a buffet?

      Report Post » The-Monk  
    • claymoremacm
      Posted on September 17, 2011 at 11:09pm

      500 billion revenue VS 14 TRILLION yes that will make a HUGE differance LMFINGAO

      Report Post » claymoremacm  
    • Iam4EnoughALREADY
      Posted on September 17, 2011 at 11:19pm

      Suppose that every day, ten men go out for beer and the bill for all ten comes to $100. If they paid their bill the way we pay our taxes, it would go something like this:

      The first four men (the poorest) would pay nothing.
      The fifth would pay $1.
      The sixth would pay $3.
      The seventh would pay $7.
      The eighth would pay $12.
      The ninth would pay $18.
      The tenth man (the richest) would pay $59.
      So, that’s what they decided to do.

      The ten men drank in the bar every day and seemed quite happy with the arrangement, until one day, the owner threw them a curve. “Since you are all such good customers,” he said, “I’m going to reduce the cost of your daily beer by $20.” Drinks for the ten now cost just $80 total.

      The group still wanted to pay their bill the way we pay our taxes so the first four men were unaffected. They would still drink for free. But what about the other six men – the paying customers? How could they divide the $20 windfall so that everyone would get his ‘fair share?’ They realized that $20 divided by six is $3.33. But if they subtracted that from everybody’s share, then the fifth man and the sixth man would each end up being paid to drink his beer. So, the bar owner suggested that it would be fair to reduce each man’s bill by roughly the same amount, and he proceeded to work out the amounts each should pay.

      And so:

      The fifth man, like the first four, now paid nothing (100% savings).
      The sixth now paid $2 instead of $3 (33%savi

      Report Post »  
    • Iam4EnoughALREADY
      Posted on September 17, 2011 at 11:24pm

      he fifth man, like the first four, now paid nothing (100% savings).
      The sixth now paid $2 instead of $3 (33%savings).
      The seventh now pay $5 instead of $7 (28%savings).
      The eighth now paid $9 instead of $12 ( 25% savings).
      The ninth now paid $14 instead of $18 ( 22% savings).
      The tenth now paid $49 instead of $59 (16% savings).
      Each of the six was better off than before. And the first four continued to drink for free. But once outside the restaurant, the men began to compare their savings.

      “I only got a dollar out of the $20,” declared the sixth man. He pointed to the tenth man,”but he got $10!”

      “Yeah, that’s right,” exclaimed the fifth man. “I only saved a dollar, too. It’s unfair that he got ten times more than I!“

      “That’s true!!” shouted the seventh man. “Why should he get $10 back when I got only two? The wealthy get all the breaks!“

      “Wait a minute,” yelled the first four men in unison. “We didn’t get anything at all. The system exploits the poor!“

      The nine men surrounded the tenth and beat him up.

      The next night the tenth man didn’t show up for drinks, so the nine sat down and had beers without him. But when it came time to pay the bill, they discovered something important. They didn’t have enough money between all of them for even half of the bill!

      And that, boys and girls, journalists and college professors, is how our tax system works. The people who pay the highest taxes get the most benefit from

      Report Post »  
    • Corinar1
      Posted on September 17, 2011 at 11:26pm

      @ EXREPUBLISHEEP: A) Actually, yes, they DO tax people from the end of a gun. Tax evasion for years has been met with SWAT teams with fully automatic weapons breaking down the doors of private citizen’s homes. They then proceed to ransack and destroy the place, all the while holding the family at gun point. GOVERNMENT = coercion through the threat of violence. If the threat of violence isn’t sufficient, the violence comes shortly thereafter.
      B) Until 1913, there was NO income tax. There should be NO income tax. If human beings (Americans) managed to survive and take care of one another for the 100+ years prior to 1913, why the hell can we not reclaim the individual responsibility and private charity we once had?
      C) Progressives, socialists, fascists: All of them always begin with low numbers on taxes. When the income tax was first created, its rate was well under 10%. However, as is the nature of things, government has a tendency to gain ground, and liberty to yield. Under FDR, the top rate reached over 90% of income. The government and central planners driving it will NEVER have “enough” money to stop wanting to increase taxes, because in a mortal world, their socialist utopias can never be realized. In their mind, it is always the “rich” and a lack of the peoples’ money that are the cause for the failure of their policies. Their desire for control blinds them to the truths all around them.

      Report Post »  
    • Corinar1
      Posted on September 17, 2011 at 11:26pm

      Still @ EXREPUBLISHEEP: FINALLY, if you think this law will have any affect on the true “rich” who I agree pay nearly NO taxes, you are deluding yourself. They will either use the loopholes in our 68,000 pages of tax code (carved out by complicit politicians they have lobbied), or they will simply leave the country, taking their wealth and jobs with them.
      If you want to truly fix the tax code and our country, you have to treat the disease, not its symptoms. The disease is fractional reserve banking, our Federal Reserve System, and the centralization of power in the Federal Government. The treatment is an end to fractional reserve banking, the auditing and abolishing of the Federal Reserve, and the abolishing of our entire 68,000 page tax code to be replaced by a nationwide consumption tax.

      Report Post »  
    • CatB
      Posted on September 17, 2011 at 11:49pm

      So is he going to get BUFFET to pay all those BACK TAXES he owes? Buffet talks and talks BUT DOESN’T pay what he is supposed to now … you think he will when others are made to? How about GE they paid NOTHING!

      TEA!

      IMPEACH AND IMPRISON OBAMA NOW!

      Report Post »  
    • Nasado
      Posted on September 18, 2011 at 12:09am

      @Exrepublisheep
      A) Corinar1 covered the gun point quite well so no need to go any further on that. B) Taxes are necessary fo many things, but there are still close to 50% of people who pay no income tax yet reap the benefits of what those taxes pay for. How is that fair? Also, why should people pay more taxes when the government wastes the money? 17 billion to create 3300 jobs… 500+ million wasted on Solyndra… several hundread thousand to have a sick shrimp run on a treadmill… 50000+ to see how long it takes to make breakfast…. and the list goes on and on. Why should the rich trust the government with their money went we can see how much, and often it is wasted? C) The 50% was just a number to throw out to make you think but what will be their tax rate if all these tax increases that Obama is asking for goes through? D) The point I was trying to make was that often times liberals/Democrats call for things then do not follow them. Ex. Wealthy should pay more, more civility in discourse, the right uses half truths or out right lies, exc. And please do not use “the other side does not do it.” If you call for it, then you need to do it and be an example, regardless of what the other side may do. And I know that Republicans do it too and they both suck for it.

      Report Post »  
    • db321
      Posted on September 18, 2011 at 12:27am

      Obama is losing his job – and he want to take as many Republicans out with him – if any Republican votes for a Tax increase – let their days in office be few – vote them out.

      Report Post » db321  
    • Exrepublisheep
      Posted on September 18, 2011 at 1:15am

      @corinar1 and nasado. I don’t agree with either of you but thank you for the intelligent debate!

      Report Post » Exrepublisheep  
    • db321
      Posted on September 18, 2011 at 1:39am

      Gawker,s Article – Obama may be depressed – - Low T – The little Women sure is depressing me.

      http://gawker.com/5839440/is-barack-obama-depressed

      Report Post » db321  
    • jzs
      Posted on September 18, 2011 at 1:49am

      Nasado, that’s quite a post. To your point that, “If Buffet thinks he should pay more, then why dosen’t he?” Warren Buffet gave 30 billion dollars (that’s with a “b” as in $3,000,000,000) to the Gates Foundation for research for cures to diseases that kill and to improve education in the United States. How much have you donated to research? Or to charity? Not 30 billion for sure, but how much? Any? Couple of bucks?

      Maybe you should read this op-ed by Buffet so that you will understand what he’s saying: http://www.nytimes.com/2011/08/15/opinion/stop-coddling-the-super-rich.html He pays less income tax than I do, although probably not less than you.

      Nasado, please don’t even start with the religious comments. You say, “Please tell me where in those passages that you quoted it says that it is God’s will that the government forcefully take the money at the point of a gun and give it to others? ” Nasado, that cute but Jesus didn’t talk about the government did he? In reciprocation, please tell me which quote for Jesus says that you give the poor from your “free will?” Jesus didn’t say “hey, if you feel like it, give to the poor.“ He said ”If a man shuts his ears to the cry of the poor, he too will cry out and not be answered.”-Proverbs 21:13. “No one can serve two masters. Either he will hate the one and love the other, or he will be devoted to the one and despise the other. You cannot serve both God and Money.”-Matthew 6:24.

      Report Post » jzs  
    • AOL_REFUGEE
      Posted on September 18, 2011 at 1:52am

      Obahmer’s tax increases ought to be cut off – at his throat.

      Report Post » AOL_REFUGEE  
    • db321
      Posted on September 18, 2011 at 1:59am

      Exrepublisheep – Glad you brought it up – Clinton’s balanced Budget – And not one thank you from Clinton or the Liberal Media to Ronald Reagan. Exrepublisheep – since you seem to be an expert on Balanced Budget’s – let me ask you? The US Debt was paid off completely one time in our Nations history – Who was the President that Passed the Executive Order to pay it off and how many different Presidential terms did it take to achieve the Zero American Debt. Not Balanced – We owed Zero, Noda, Nothing,

      Let me give you a hint – it was one of the Adams Presidents. And two Presidents Later the US Debt was paid down to zero – and you claim that Clinton Balanced the US debt in his first 6 months as President – you have drank to much of the Liberal Tea.

      Also – I bet you think that individual American’s Credit Card debt is included in the National Debt. The reason I know you don’t know the answer is that most Democrats did not attend College where they would have studied Economics – let me tell you – it came as a big surprise to Clinton when Congress informed Clinton that the US debt was balance and being the Politician that Clinton was he ran with it – and you useful Idiots bought it hook line and sinker.

      Report Post » db321  
    • the hawk
      Posted on September 18, 2011 at 2:48am

      aT SOME PIONT THE HOUSE IS SO INFESTED YOU MUST BURN IT DOWN !

      Report Post »  
    • simply one voice
      Posted on September 18, 2011 at 6:54am

      President Barack Obama will call for a new base tax rate for the wealthy on Monday. Dubb it, “the Mafia” Rule: Extortion; to save your ugly Progressive, Marxist, Communist Face.

      Report Post » simply one voice  
    • Favored93
      Posted on September 18, 2011 at 8:27am

      @Exrepublisheep
      Do not quote scripture to justify evil!!! It is not sinful to be rich!!! We as individuals are commanded to give and our government is rightly restricted in what they can TAKE!
      If I want to give my money to help those in NEED that is my CHOICE!!! It is not now nor has it ever been the government’s job to take care of the needy.
      Remember that the Devil uses the bible to try and “justify” what he does and when you do the same you show the rest of us who’s family you belong to.

      Report Post » Favored93  
    • concho
      Posted on September 18, 2011 at 8:32am

      funny, he doesn’t look “clinically depressed”, maybe this is why…………http://www.youtube.com/watch_popup?v=tCAffMSWSzY#t=28

      Report Post »  
    • lillymckim
      Posted on September 18, 2011 at 8:48am

      Gee… I wonder why Obama didn’t pass this when he had the SENATE AND THE HOUSE?

      Report Post » lillymckim  
    • lillymckim
      Posted on September 18, 2011 at 8:50am

      They thought the jobs market looked bleak last week? cant wait to see it next week…
      Obama speaks … and more jobs disappear

      Report Post » lillymckim  
    • lillymckim
      Posted on September 18, 2011 at 9:24am

      G.E. comes to mind… when will Obama make his “Jobs Creator”… Jeffrey Immelt pay his

      “Fair Share”

      Report Post » lillymckim  
    • Bluefish49
      Posted on September 18, 2011 at 9:29am

      If I were a so called wealthy American with say 50 employee‘s I would lay off the number of employee’s needed to off set my new tax rate and tell the other employee‘s to suck it up and pick up the slack of fewer employee’s…..I would do this out of sheer spite due to this administrations complete lack of common sense.

      Report Post »  
    • mikem1969
      Posted on September 18, 2011 at 9:37am

      @Exrepublisheep
      Here is some news for you since you seem to be brain dead. The wealthy in this country pay 70 – 80% of all the taxes that get paid in this country, the middle class pays the other 20 – 30%. If you want to tax EVERYONE FAIRLY then a consumption tax of 3% or a flat tax of 5 – 8% would do just that. You see a flat tax of 5% on all would mean that EVERYONE PAYS THE SAME PERCENTAGE OF THEIR INCOME IN TAXES. Of course these two options that are VERY FAIR kind of destroy the ghetto base of obahitlerstalinmao, because they would actualy have to put something out.

      Report Post »  
    • thegrassroots
      Posted on September 18, 2011 at 10:52am

      Good Job, BHO — you’re rolling out your own asphalt, doing a great job of paving your own road out the door in 2012. Don’t forget the curbs — you’re going to be bouncing off of them all the way out and into your future of being an embarrassment to your grandchildren for all generations to come. America wouldn’t be surprised if your future includes prison.

      In all of America’s History, America’s White House has NEVER housed such corrupt and filthy dumbness, seen such blatant disregard for America’s Constitution. Can’t wait for 2012, when American gets to SCRUB our White House CLEAN and DISMANTLE EVERYTHING BHO.

      Good Riddance, BHO. America’s White House, Itself, will boot you out the door on your last day, while breathing HUGE SIGHS of Relief. You can expect that White House Door to hit you on your backside. O Happy Day!

      Report Post »  
    • jbh
      Posted on September 18, 2011 at 11:16am

      Have never seen a person in the WH like this person. Zero budget out of senate now going on 800 plus days. Have the majority in his first two years of office. And did zero, but did pass the healthcare plan that Americans do not want. Maybe he should go back on cocaine, may make his last year in office more pleasant for he and his family.

      Or maybe just leave the country and play golf for the last year. Just a thought.

      JBH

      Report Post »  
    • Evileye
      Posted on September 18, 2011 at 11:38am

      What this will do in the long run is to prevent people from ever becoming millionaires.
      When they reach a certain income the Government will confiscate what they claim are excessive income.
      Right out of Carl Marx play book.
      Obumbler the stumbler must be stop by the Congress now and Defeated in 2012.
      Any congress person that vote for this measure need s to be defeated on hi or her re-election.

      Report Post »  
    • smokeysmoke
      Posted on September 18, 2011 at 11:46am

      when are these dumb democrats going to learn… raising income tax on households who make 250K= raising taxes on those who 1) EMPOLOY PEOPLE 2)USE THEIR CASH AS INVESTMENTS 3)spend their cash in new technology and EXPENSIVE devices 4) WHEN YOU TAX THIS GROUP EXCESSIVELY IT STOPS NEW PEOPLE FROM EVER HAVING A CHANCE OF “MAKING IT”, thus you create WITH YOUR INCOMETAX, the uber wealthy that dont have a reason to REINVEST OR USE wealth, and at the same time STOP NEW PEOPLE from having a chance at making it…. all the while blaming republicans….. WHY DOESNT THE GOVT OPEN A PUBLIC BANK ACCOUNT THAT WILL ACCEPT DONATIONS AND PEOPLE CAN BE PUBLIC IF THEY WANT!!!!! THIS IS THE SAME THING… this is how i KNOW it is not about REVINUE ENHANCEMENT… its ABOUT CONTROL!!!!

      Report Post » smokeysmoke  
    • Nasado
      Posted on September 18, 2011 at 12:16pm

      @jzs
      I did not say that Buffet did not donate to good causes. I am proud that he has. Yet most of his income comes from capital gains, not from wealth that would be considered for the income tax. So therefore, even if the tax was raised, it would not affect him. And by the way, did you mean 30 billion or 3 because you, hanged the number? just curious.
      When it comes to the religious statement, are you really insinuating that Jesus felt it was ok for a group to forcefully take away the resources of others? Or was he saying that one should willingly donate them? You use the religious argument when you do not understand the teachings of Jesus. Everything in this life is based on free will. We are here to see if we will willingly obey God, not to be forced to do it. So let me ask again, how does it help anyone to be forced to *give* up their property? What benefit, both temporal and spiritual, do they gain from that? The answer is none.Thwe purpose of what Jesus was saying is that we should not hold our wealth in a greater love than God and those around us. Yes, there are many wealthy individuals who fail in that but it is their choice to make… not one that should be forced upon them. Also, would you give your money to a charity that was inefficient, corrupt, and wasted trillions of dollars that had been given to it thoughout its existance? That is what the government is.

      Report Post »  
    • jzs
      Posted on September 18, 2011 at 8:07pm

      Asado, that was thirty billion, not three billion, sorry for the confusion. Buffet gave that money for research into the curing diseases and for education. You can’t blaming him not “writing a check” to the government since the Republicans are actively trying to dismantle both of those in order to provide tax breaks to the richest in our country. Those tax breaks don’t create jobs (research job creation and encomic growth after Bush’s tax: sorry to challenge the conventional Republican dogma but neither occurred).

      You make this statement, “…are you really insinuating that Jesus felt it was ok for a group to forcefully take away the resources of others?” The US constitution grants the federal government to levy an income tax. So you‘re not challenging the federal income tax on the basis of it’s constitutionality. You must be saying it‘s violation of Christ’s philosophy. Have I missed something?

      An advanced society without forced taxation (”forcefully take[ing] away the resources of others”)? To my knowledge that’s never existed but what would it look like? No centralized source of authority, no police (or equivalentlant), no teachers, no roads, no military etc.

      You don’t believe that. You’re not an anarchist. You don’t believe that taxation is immoral. You believe in a “social contract” of some kind which confers rights and obligations on it’s citizenry. So what is it exactly you are trying to say?

      Report Post » jzs  
    • asybot12
      Posted on September 18, 2011 at 9:49pm

      @ex repub, you probably could not handle the truth. Oil companies and other big companies are owned by PEOPLE, they bought things called stocks with already taxed income and now you want to tax them some more no wonder you became a democrat there no words to describe your idiocity

      Report Post »  
    • tequilamockingbird
      Posted on September 19, 2011 at 2:04am

      How do you reply to such a flood of ignorance and hatred? Hey, Glenn, be like every other site in the world and allow responses to individual posts.

      Report Post » tequilamockingbird  
    • smithclar3nc3
      Posted on September 19, 2011 at 8:04am

      Warner Buffet doesn’t pay income tax he claims all his earning as capital gains so he only pays 18%. He could just as easy claim his earning as income and pay the 35% he suppose to pay. He’s a liar and hypocrit and is attempting to regulate business out of America.

      Report Post »  
    • Nasado
      Posted on September 19, 2011 at 10:14am

      @jzs
      You are absoulutely right, taxes are necessary for any form of goverment. And it does follow Jesus’ teachings when he said “render unto Ceaser what is Ceasers.” Now when it comes to the constitutionality of what taxes are used for, that is another issue. According to the constitution, the only thing mentioned in it is the ability to tax for the defense of the nation. So some would argue that taxes for roads, welfare, education, research, are unconstitutional. Now that is not for me to decide but I do believe that there are some things the govn. is into that they should not be. For example, welfare. Here is what I think should occure and you can let me know if you agree or not. Move the system of welfare to private charities to govern. The private charities would be able to govern the donations and weed out all the people who abuse the system. Run it off of private donations and have the government subsidize whatever the charities may be lacking when it first starts out. As time goes on and people get used to the system, I believe that the charites whould eventually recieve the contributions needed to run independent form the government. You would get the government out of in, weed out most corruption and gaming the system, take care of those who need it at the time, and allow individuals to to donate according to their conscious. I think both sides would agree on that. Granted there would have to be more to it like standards for all charites but it is an outline.

      Report Post »  
    • Xkiller
      Posted on September 19, 2011 at 11:14am

      To Warren Buffet and his millionaire friends that WANT to pay more in taxes….WERE’S THE CHECK WARREN??? Put your money were your mouth is and sign a check Warren…I’m sick of this old goat….were’s the CHECJK WARREN????

      Report Post »  
  • dadadadio
    Posted on September 17, 2011 at 8:08pm

    Great Idea! If your last name is ‘Buffet’ and your first name begins with ‘W’, then your rate is 100%. No problem. I’ll go for that.

    Report Post » dadadadio  
  • jt2127
    Posted on September 17, 2011 at 8:08pm

    Why does the POTUS keep attacking the productive members of society? This “Buffett Rule” is a hoax. It won’t make any difference in the debt. It’s all about his social justice agenda. I guess it’s easy to attack “the rich” when you have NO concept of what it takes to build a business yourself.

    Report Post »  
    • Principlex
      Posted on September 17, 2011 at 8:29pm

      I agree. Tax, punish, demean the rich and the poor suffer. What the Obamabots need to discover is that it is the creative people in society who make it work. And those people are often rich. We want more of them, not less. I say “Honor the Honest Rich.”

      Report Post »  
    • Gary S
      Posted on September 17, 2011 at 9:43pm

      I never worked for a poor man.

      Report Post »  
    • tequilamockingbird
      Posted on September 19, 2011 at 2:10am

      Why are “the productive members of society” — the so-called job creators — not creating any jobs?

      Because the little people don’t have any money, so there’s no demand. Until more people start walking in your doors, I wouldn’t expand either. “Trickle down,“ ”supply side”: Bush I had it right in his presidential campaign against Reagan: Voodoo economics.

      Report Post » tequilamockingbird  
  • kickagrandma
    Posted on September 17, 2011 at 8:06pm

    N O! no NOT NOW, NOT EVER.

    DEAR GOD IN HEAVEN, I don’t think these “people” are getting it. Could YOU please just swat them upside their arrogant facelifts, please, and let’s all have a “come to JESUS meeting” that they will understand.

    Thank YOU, LORD. In JESUS’ name, amen.

    Report Post »  
    • db321
      Posted on September 18, 2011 at 12:30am

      Yes Lord – put a hook in their mouth and pull them out of their tax and spend office. Amen

      Report Post » db321  
  • teahugger
    Posted on September 17, 2011 at 8:05pm

    The new taxes would go to new spending, not deficit reduction…once its mingled with the general revenue you can kiss it good-bye. That’s the way it always works in DC. They are all incompetent at handling our money and I don’t think they deserve another red cent of mine. This class warfare crap that the big O is ladeling out really stinks.

    Report Post » teahugger  
    • thought criminal
      Posted on September 18, 2011 at 9:27am

      Well said.

      Report Post » thought criminal  
    • tequilamockingbird
      Posted on September 19, 2011 at 2:15am

      Deficit reduction? Forget it. The problem is not the deficit — it’s unemployment and economic stagnation. Get the economy rolling! Expand the tax base. Then let’s worry about getting the deficit down to where it was when Clinton passed it over to Bush.

      Report Post » tequilamockingbird  
    • tequilamockingbird
      Posted on September 19, 2011 at 2:27am

      And what do you suggest should be the “minimum tax” on a single mother — working two jobs, Wal-Mart and McDonald’s, and earning $20,000 a year — should be? How much food should we take out of her children’s mouths to justify a 3% increase to people like the top 25 hedge-fund managers who last year averaged $1 billion income in 2010? Yeah, right. That freeloader should pay, while the hedge-fund managers — who produce nothing, who create no wealth, who shuffle papers and manipulate numbers — should get more breaks.

      Report Post » tequilamockingbird  
  • Rob
    Posted on September 17, 2011 at 8:04pm

    Tax the losers that currently pay NO federal income tax…

    Report Post »  
    • Nick84
      Posted on September 17, 2011 at 8:33pm

      Do you understand how counterproductive it is to tax the poorest members of society? Raise the taxes on them and more people will be on welfare. Most of the revenue would go back to the people paying it.

      Report Post »  
    • Sy Kosys
      Posted on September 17, 2011 at 9:30pm

      @ nick

      Thats the point….there can be no such thing as “fair share” when half of wage-earners dont pay income taxes…

      Report Post » Sy Kosys  
    • Nick84
      Posted on September 17, 2011 at 10:03pm

      I think you’re missing my point… The original post and many others on this site are in favor of raising taxes on the poor. The point is, that would accomplish nothing as they would just receive more money back in welfare. What I don’t understand is that the gap between the wealthy and poor in this country keeps widening. There are fewer jobs, and most of what’s left pays poorly. The wealthy also have some of the lowest tax rates in recent history. I don’t understand why people on here are so obsessed with defending the rich.

      Report Post »  
    • michael48
      Posted on September 17, 2011 at 10:26pm

      well nick…crap flows downhill…next year obango will attack those mean old people making $50,000.00 a year…they’re not paying their “fair share”…there will NEVER be enough for the Gumbas in D.C…..they collect $2 Trillion NOW… and spend $4 Trillion NOW…how far down the slippery slope do you think they’ll have to go????…if you have a job , you’re the new “RICH” ??????????????????????????

      Report Post »  
    • tequilamockingbird
      Posted on September 19, 2011 at 2:16am

      They pay no income tax because their income is so low. Bleed the poor? Is that your idea of a solution?

      Report Post » tequilamockingbird  
    • tequilamockingbird
      Posted on September 19, 2011 at 2:28am

      See above. Tax the poor, so they become even more desperate?

      Report Post » tequilamockingbird  
  • ares338
    Posted on September 17, 2011 at 8:03pm

    Buffet’s trying to look like a generous giving soul who is just so selfless. He won’t pay a darn bit more in taxes even if they do get this tax on the rich. Obama will shovel goodies his way to make
    up for paying a little more in taxes. I. Have no problem with them being rich but I do have a problem with them having a ton of influence over The Flatulous in Chief.

    Report Post » ares338  
    • Davtam
      Posted on September 17, 2011 at 9:11pm

      Buffett owes back taxes. I think the name is intended as a slap in the face.

      Report Post »  
    • bleuze
      Posted on September 18, 2011 at 7:04pm

      I think that Obama maybe believes that we should all not pay taxes and be more like Buffet.
      We show put a minimum tax on the 48% that do not pay taxes and we should NOT exempt the labor unions fron NOT paying taxes (they earn billions, ask for tax payer money all the time, and have a political agenda).

      Report Post » bleuze  
    • tequilamockingbird
      Posted on September 19, 2011 at 2:20am

      You do realize that the Senate, the House, the judiciary, and state legislatures are bought and sold by lobbyists and big campaign contributors, right? The American system of government has been completely corrupted. Years ago I thought such levels of corruption were strictly in third-world countries; now the U.S. is leading the way.

      Report Post » tequilamockingbird  
  • kindling
    Posted on September 17, 2011 at 8:03pm

    Obama is going to keep squeezing the life out of our economy for as long as he is in office. I don’t see how we are going to be able to recover from the last few squeezes. This has been a slow choke for 60+ years, is there anyone alive that will be able to set it right except the Lord. NO!

    Report Post » kindling  
  • peapaw
    Posted on September 17, 2011 at 8:01pm

    OMG use to mean “oh my god” now ‘OBAMA MUST GO” how about the democrats that voted for that 14 trilion lead the way and start paying.

    Report Post » peapaw  
    • Stephan D. Markos
      Posted on September 18, 2011 at 7:25am

      Ron Paul 2012. The truth is self evident after honest evaluation.

      Report Post »  
    • tequilamockingbird
      Posted on September 19, 2011 at 2:22am

      That 14 trillion was passed by Congress, Democrats and Republicans alike. The debt ceiling debacle was about paying debts already incurred (by Congress).

      Report Post » tequilamockingbird  
  • Snowleopard {gallery of cat folks}
    Posted on September 17, 2011 at 8:01pm

    Mr Obama, why not craft a legislation for the massive, overweight, and fanatically hungry Federal government that is called “The Diet Bill” in which spending is cut, the debt is tackeled, and a balanced budget amendment is put into place with teeth of steel.

    Report Post » Snowleopard {gallery of cat folks}  
    • kindling
      Posted on September 17, 2011 at 8:05pm

      You are right. We need to get rid of most government programs, get rid of income tax, and have only sales tax on new products and services.

      Report Post » kindling  
    • RIGHTHOOK
      Posted on September 17, 2011 at 8:18pm

      Too pragmatic. It is too obvious and would undo what BO wants to continue to bloat. It doesn’t comply with his absurdly left agenda.
      Lastly, this proposed lunacy he and Buffett are cooking up won’t do much of anything to fill in the deficit that he has contributed immensely to. It just sounds good to his Marxist supporters so he goes with it and has a senile billionaire craft it.

      Report Post » RIGHTHOOK  
    • FlowerBell
      Posted on September 18, 2011 at 2:58am

      A flat sales tax will never happen. Barter systems between citizens could cut the government out completely. They will never let go of their power to tax you and take your money before you get it.

      Report Post » FlowerBell  
    • tequilamockingbird
      Posted on September 19, 2011 at 2:34am

      A flat tax is abominably unfair. Two people make a $1,000 purchase. One is Warren Buffett, the other is a single mother working for minimum wage. The tax is not even restaurant tip money for Buffett; for the single mother, it’s less for her children to eat.

      Report Post » tequilamockingbird  
  • Tear Em Up
    Posted on September 17, 2011 at 7:58pm

    Dubbed “The Buffet Plan” does that mean Buffet will not pay THESE taxes too?

    http://traffic.libsyn.com/mikeleeandterrymartin/Number_81_Sept._17th_2011.mp3

    Report Post » Tear Em Up  
  • ares338
    Posted on September 17, 2011 at 7:58pm

    Flat tax…..it’s just too simple I guess!

    Report Post » ares338  
    • TH30PH1LUS
      Posted on September 17, 2011 at 8:54pm

      Forbes came out with a version of that. Wish we had him instead of Geithner.

      Report Post » TH30PH1LUS  
  • stevoschmidt
    Posted on September 17, 2011 at 7:57pm

    More economic warfare, just another form of eugenics. They’re trying to make it impossible to be able to provide for your children. Canadian infanticide was a perfect case.

    Report Post »  
    • Smokey_Bojangles
      Posted on September 17, 2011 at 8:13pm

      Ever notice the Environmentalist,abortionist,elitist,and everyone in favor of eugenics and population control,are never the first to volunteer to go?

      Report Post » Smokey_Bojangles  
    • Stephan D. Markos
      Posted on September 18, 2011 at 8:53am

      What progressives REALLY don’t want you to know is the real history of the eugenics movement in the U.S. Before 1938, thirty states had passed laws providing for the mandatory sterilization of the “feeble-minded.“ The term ”racial purity” did not originate in Germany. The Nuremburg Laws were DIRECTLY influenced by the American eugenics movement, state laws passed in California in particular.
      Read “Better for All the World: The Secret History of Forced Sterilization and America’s Quest for Racial Purity” by Harry Bruinius. I was shocked and sickened by what I learned.

      ” We have seen more than once that the public welfare may call upon the best citizens for their lives. It would be strange if it could not call upon those who already sap the strength of the State for these lesser sacrifices, often not felt to be such by those concerned, in order to prevent our being swamped with incompetence. It is better for all the world. if instead of waiting to execute degenerate offspring for crime, or let them starve for their imbecility, society can prevent those who are manifestly unfit from continuing their kind. The principle that sustains compulsory vaccination is broad enough to cover cutting the Fallopian tubes…. Three generations of imbeciles are enough.” – Supreme Court Justice Oliver Wendall Holmes, Jr.

      Very progressive.

       
    • tequilamockingbird
      Posted on September 19, 2011 at 2:36am

      No, the Canadian infanticide was a single act by a deranged lunatic, and not an example of anything.

      Report Post » tequilamockingbird  
    • tequilamockingbird
      Posted on September 19, 2011 at 2:43am

      Hey, Markos, so what if eugenics enjoyed some public support 70 years ago? It wasn’t too long before that that slavery was the law in the South.

      Was it “progressives” who pushed eugenics? What about white supremacists? There is NO support for such policies today, by anyone. Straw man.

      Report Post » tequilamockingbird  
  • jmmjr49er
    Posted on September 17, 2011 at 7:55pm

    Nothing is stopping Warren and others in the Patriotic Millionaries Group from paying more in taxes.

    Remember Buffett pays Capital Gains Tax on his investments!

    Report Post »  
    • hersey10
      Posted on September 17, 2011 at 7:57pm

      You said it all brother , this is a hoax . Plain and simple . We were sold the messiah , we are watching the worst president possibly ever .

      Report Post » hersey10  
    • tequilamockingbird
      Posted on September 19, 2011 at 2:46am

      That’s nonsense. Buffett has given away billions. And advocating a fair tax policy doesn’t mean he should give his money away while the Koch brothers swim in their money bins.

      Report Post » tequilamockingbird  
  • lketchum
    Posted on September 17, 2011 at 7:55pm

    This man is more than one billion dollars behind in his own corp. taxes and he has the nerve to propose that Herr Obama crush small business people???

    PHKU, Herr Buffet; you‘re Obama’s lap-dog and your liberal proposals make free people sick.

    Report Post » lketchum  
    • RIGHTHOOK
      Posted on September 17, 2011 at 7:58pm

      Could not have said it better!!!!! Thx!

      Report Post » RIGHTHOOK  
    • 82dAirborne
      Posted on September 17, 2011 at 8:03pm

      I think that you have the “dog” – “master” relationship backwards!!

      Report Post » 82dAirborne  
    • Snowleopard {gallery of cat folks}
      Posted on September 17, 2011 at 8:23pm

      @82nd Airborne — How right you are.

      Report Post » Snowleopard {gallery of cat folks}  
    • db321
      Posted on September 18, 2011 at 2:22am

      Buffet knows how to screw the American People for personal gain – Buffet sold All – I repeat All of his properties in CA at peak value 6 months before the Housing Crisis started. One article written at the time – nothing after that – When buffet sold – many investors panicked and the Bubble burst. Then he bought a Manufacture Housing Company – I guess he knew we would all be living in trailers and he wanted to profit on that too. Soros, Obama and Buffet are real pieces of work.

      Report Post » db321  
    • tequilamockingbird
      Posted on September 19, 2011 at 2:47am

      $1 billion behind in taxes? Hadn’t heard that before. Links, please?

      Report Post » tequilamockingbird  
  • Constructionist
    Posted on September 17, 2011 at 7:53pm

    How about a minimum tax rate for everyone (even that 50% who pay no taxes and vote Democratic). We could call it the ‘What’s good for the goose is good for the gander’ rule.

    Report Post » Constructionist  
    • tequilamockingbird
      Posted on September 19, 2011 at 2:51am

      Like I’ve said before, what do you suggest as a minimum tax rate for a single mother working at Wal-Mart and McDonald’s making $20,000 a year? Whatever tax rate you propose, it’s going to mean her children have less.

      Report Post » tequilamockingbird  
  • jessieH
    Posted on September 17, 2011 at 7:51pm

    The Buffet Rule. Same as the Imelt Rule. Screw over the citizens because you know all the loopholes.

    Report Post »  
  • aspkisser
    Posted on September 17, 2011 at 7:45pm

    Let’s get Buffet to pay his own taxes! Or can we all do a “Buffet Rule” and not pay ours? OBAMA must goooooo!

    Report Post » aspkisser  
  • loriann12
    Posted on September 17, 2011 at 7:44pm

    Toss out the whole income tax plan and use Herman Cain’s 9/9/9 plan. A straight 9% income tax across the board, a 9% corporate tax, 9% national sales tax on new items (doesn’t include if you buy a used car) and the only deduction would be charitable contributions.

    This stimulates the economy because business know what they’re paying. The business deduction would be items they actually use to run their business (I know potential of being abused). The national sales tax on new items would get foreign investors/visiters, and illegal aliens who pay no reported income tax. But, if the only deduction for income tax is charitable contriutions, there will be no people getting back more on tax day than they put in.

    Report Post »  
    • JediPatriot
      Posted on September 17, 2011 at 7:53pm

      @ loriann12, Here’s another idea. We can lower our politicians’ wages. They get free healthcare anyway. Amongst other free things. We overthrew the British rule of our land for a 3% tax. Why are we happy with 9%? WE earned that money. Our politicians spent that money with disregard. If our companies were kept here at home, our economy would “stimulate” itself.
      Peace

      Report Post » JediPatriot  
    • tequilamockingbird
      Posted on September 19, 2011 at 2:55am

      Jedipatriot: There’s an idea that might get some traction. I bet it’d be popular. The only problem is that we have to get the lawmakers to vote it in (not too likely).

      It would be good to get back to the idea that lawmakers are giving something to the people, not just feathering their nests.

      Report Post » tequilamockingbird  
    • JediPatriot
      Posted on September 19, 2011 at 6:16am

      @ tequilamockingbird, Okay. What is your proposition, exactly? I’m all ears. If it’s a good idea I can pass it on.
      Peace

      Report Post » JediPatriot  
  • billwill
    Posted on September 17, 2011 at 7:43pm

    Our Chief dictator, who is it Buffet or Obama?

    Report Post »  
    • MIBUGNU2
      Posted on September 17, 2011 at 8:33pm

      Puppet Masters working overtime, we are being destroyed
      from the inside, the people in Obama’s Administration are
      all IDIOT’S…ie: Biden, Holder, Lil Timmy,

      Report Post » MIBUGNU2  
    • tequilamockingbird
      Posted on September 19, 2011 at 2:56am

      Sorry, although W fantasized about how great things would be if he was dictator, Obama is nowhere near there, handcuffed by an obstructionist opposition.

      Report Post » tequilamockingbird  
  • MHP
    Posted on September 17, 2011 at 7:42pm

    Well how bout we scrap the whole income tax for everybody and go to a US Savings bonds like we did in WW II. that way we buy into them, collect interest, the gvt does what they need with the money, once the bonds are paid off. the bonds expire. Making us a profit.
    Everybody gets richer all the way around.

    The system we have now, nobody gets rich but the government.

    Report Post » MHP  
  • billwill
    Posted on September 17, 2011 at 7:41pm

    Dictator in Chief!

    Report Post »  
  • ladyda
    Posted on September 17, 2011 at 7:39pm

    Does that mean that the “rich” won’t have to pay the taxes that their businesses owe, just like Warren Buffett…..and those businesses that are exempt, like G.E. and G.M.? This “Cronie Crapitalism” and Government thiefdom has to stop.

    Report Post » ladyda  
  • threedoor
    Posted on September 17, 2011 at 7:37pm

    How about taxing tose 50% that pay no income tax? Lets just say 10% and drop everyone elses.

    Report Post » threedoor  
    • tequilamockingbird
      Posted on September 19, 2011 at 3:03am

      Right. So we tax single mothers making $20,000 a year, and they have $2,000 a year less to buy food for their children. CEOs of the top Fortune 500 companies average $20 million a year — and they’ll have to struggle by with a paltry $18 million. Beautiful system you’ve got there.

      Report Post » tequilamockingbird  
  • Grandmadar
    Posted on September 17, 2011 at 7:37pm

    OMG…..Obama Must Go.

    He is becoming more open about his takeover. A Civil War is coming ( I pray not but…). If the jobs bill passes States will lose their sovereignty.

    Report Post »  
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