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This is a direct quote from Obama's SOTU address: "Asking a billionaire to pay at least as much as his secretary in taxes? Most Americans would call that common sense." Obama was referring to Buffett's secretary, of course. The false impression that Obama is trying to convey is that Buffett's secretary paid more taxes than her boss. I'm sure Buffett paid millions in taxes last year--just like Romney. For Obama's statment to be true Buffett's secretary would have had to pay millions, also. That's just plain stupid. Obama is not stupid--just dishonest.
Of course Obama was referring to the differences in tax rates between earned income and investment income. But if he had made that explicit in the speech he would have had to spend the next two hours trying to explain an inexplicable and corrupt tax code. Which would have lead inevitably to a demand for tax reform. Obama doesn't want to amend the tax code. He just wants more money to spend on his political allies. And he's using class warfare to extort that money from the wealthy. Do you really think Obama gives a hoot about Buffett's secretary?
This is a direct quote from Obama's SOTU address: "Asking a billionaire to pay at least as much as his secretary in taxes? Most Americans would call that common sense." Obama was referring to Buffett's secretary, of course. The false impression that Obama is trying to convey is that Buffett's secretary paid more taxes than her boss. I'm sure Buffett paid millions in taxes last year--just like Romney. For Obama's statment to be true Buffett's secretary would have had to pay millions, also. That's just plain stupid. Obama is not stupid--just dishonest.
Of course Obama was referring to the differences in tax rates between earned income and investment income. But if he had made that explicit in the speech he would have had to spend the next two hours trying to explain an inexplicable and corrupt tax code. Which would have lead inevitably to a demand for tax reform. Obama doesn't want to amend the tax code. He just wants more money to spend on his political allies. And he's using class warfare to extort that money from the wealthy. Do you really think Obama gives a hoot about Buffett's secretary?
It is a complete misstatement. His secretary pays the exact same marginal rate for income in the same bracket as Buffett, and pays the exact same 15% tax rate on her capital gains as Buffett.
The tax code does not discriminate. Buffett just has more capital gains income than she does. I'm sure if she is a long-time Berkshire employee she has some stock options. Depending on the option type, she will pay 15% on that income when she recognizes it.
Obama is counting on the average voter to not understand the tax code. He's really saying "they are too stupid to see through what we are doing." But maybe that's why they voted for him in the first place.
It is a complete misstatement. His secretary pays the exact same marginal rate for income in the same bracket as Buffett, and pays the exact same 15% tax rate on her capital gains as Buffett.
The tax code does not discriminate. Buffett just has more capital gains income than she does. I'm sure if she is a long-time Berkshire employee she has some stock options. Depending on the option type, she will pay 15% on that income when she recognizes it.
Obama is counting on the average voter to not understand the tax code. He's really saying "they are too stupid to see through what we are doing." But maybe that's why they voted for him in the first place.
Location: By the sea, by the sea, by the beautiful sea
68,329 posts, read 54,400,252 times
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Quote:
Originally Posted by doctrain
What do you call a President who misstates the facts in order to score chaep political points?
Obama
And Bush, Clinton, Reagan, Bush, Carter, Ford, Nixon, et al...........................
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