AP calls out President/Buffet's claim that secretaries pay more than their bosses

Discussion in 'Politics' started by eflatminor, Sep 20, 2011.

  1. eflatminor
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    eflatminor Classical Liberal

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    Once again, our President is happy to mislead the public if it supports his agenda. I'm beginning to think all this talk about taxes and class warfare is just a distraction, anything to keep the public from talking about the debt and our march towards European-style socialism. Whatever the case, millionaires do NOT pay a lower portion of their income than their secretaries.

    An overview of the AP article:

    AP Debunks Obama's Claim Millionaires Don't Pay Their Fair Share of Taxes | NewsBusters.org

    and the AP article itself:

    FACT CHECK: Are rich taxed less than secretaries? - AP Washington Heads - MyNorthwest.com
     
  2. grunt11b
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    grunt11b VIP Member

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    If Buffet feels so bad, why don't he just start cutting some checks? Because he doesn't feel bad, Obama actually used a real strawman this time, buffet!
     
  3. Grampa Murked U
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    Grampa Murked U Diamond Member

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    Many outlets and people are calling him on his bullshit but it will be ignored or dismissed by the left as usual.
     
  4. LordBrownTrout
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    LordBrownTrout Gold Member

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    They don't and he should be ashamed at making such a straw argument. It's petty but that's what he does.
     
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  5. Avatar4321
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    Avatar4321 Diamond Member Gold Supporting Member

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    Considering Buffet is currently under scrutiny by the IRS for not paying taxes, I would think that it would be quite possible that she is paying more. After all, when your boss refuses to pay taxes, then those who do are clearly paying more.
     
  6. rdean
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    rdean rddean

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    Where do I sign up for this 6 and 7% tax bracket? Because I'm not seeing it.

    Tax Brackets (Federal Income Tax Rates) 2000 through 2011
     
  7. Avatar4321
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    Avatar4321 Diamond Member Gold Supporting Member

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    You only qualify when you are rich and contribute to Obama.
     
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  8. norcal21jg
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    norcal21jg BANNED

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    hmm
     
  9. Listening
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    Listening Gold Member

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    Thank you for posting this article.

    It seems that once again we are mixing the points of the argument and I really don't know how President Obama makes this claim without making sure he understands everything that comes with it.

    If you read the article it does a good job of explaining things.

    My question to everyone is that if even if we raised the marginal tax rate to 50% on everything above 1 million and taxed all capital gains above a million at 50% (and I don't believe there is a progressive tax rate on capital gains is there ?), how much money would that mean and what would that do to our deficity ridden government ?
     
  10. Kuros
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    Kuros BANNED

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    The rich aren't taxed less than their secretaries.

    The claim that Buffet made was that he is taxed at a lower rate on his income than his secretary is. His secretary is taxed on her earnings. She works as a secretary. Thus, she is taxed on ordinary income. Most of Warren Buffet's income comes from the sale of stock held for over a year, so it is characterized as long-term capital gain. In addition, he benefits from the special low rate for carried interest taxation.

    Now, did Obama misrepresent the situation? Did he claim that millionaires are taxed at a lower rate than their secretaries?

    No. He claimed that Buffet's secretary pays a higher tax rate than Warren Buffett.

    Thus, it appears that all the people in this thread complaining about Obama's strawman are indulging in a strawman of their very own.
     

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