Conservative
Type 40
Excellent take on the Buffet Ruse.
RealClearPolitics - The Buffett Ruse
RealClearPolitics - The Buffett Ruse
The Buffett Rule wont balance the budget. It wont prevent a debt crisis. It wont help the economy. It wont get you a job.
But contrary to Obamas rhetoric, it was never meant to.
For Barack Obama, the Buffett Tax (its a tax, plain and simple) has one goal: to divide and distract America. He wants to divide the electorate with class warfare to distract us from his failed policies. This is how desperate he is to win reelection. This is how little he thinks of the American voter.
As the Wall Street Journal explained last month, This year, the Buffett rule would increase federal revenues by all of $1.1 billion. That's less than one-tenth of one percent of the $1.2 trillion budget deficit Mr. Obama is scheduled to run this year.
This stark reality led even the Los Angeles Times editorial board to declare, The proposed Buffett rule is more a political statement than a deficit-reduction tool, given how little money it may raise.
Obama must have failed math at Harvard.Based on Obamas budget, the federal government will spend $45.4 trillion between 2013 and 2022. $9.6 trillion will be borrowed money. The Buffett Tax would raise $46.7 billion.
President Obama has said the Buffett Tax would help stabilize our debt and deficits for the next decade, adding, This is not politics; this is math. But thats just another deception. The math doesnt add up. This is the most cynical political tool imaginable.