Why do more than half the people in this country pay no income taxes at all, while President Barack Hussein Obama keeps insisting that everyone must "pay his fair share?" For over half of citizens, is that their fair share? Or is creating more recipients of government handouts, at no cost to themselves, simply a strategy to gain more votes? The current federal debt burden works out at about $140,000 per federal taxpayer. Are you one of those taxpayers, the unlucky less than half? Obama is proposing to increase both debt and taxes. How much more do you want added to your $140,000 debt burden? Is your fair share $140,000?
Now Obama is pushing "the Buffett Rule," a capital gains tax hike designed to ensure that Warren Buffett pays as much tax as his secretary. His reason is that it, "will help us close our deficit." Oh, really? Does Obama realize that the Buffett Rule, if enacted, will help pay down the 2011 deficit (which, I'm sure, was George Walker Bush's fault) in only 514 years? And that's only for 2011, not deficits in future years. The Buffett Rule is forecast to raise $3.2 billion per year, what the US government currently borrows every 17 hours. Buffett is worth $44 billion, so if he donated his entire fortune to the US government, they would go through it within four and a half days. If you confiscate the total wealth of the Forbes 400 richest Americans it comes to $1.5 trillion, which is just a little less than the Obama budget deficit for a year.
Obama denounced (excuse me, evaluated) Paul Ryan's budget plan. Given what's at stake, you might think then that Obama would have an alternative plan. But his was voted down 414-0.
And speaking of the Buffett Rule, did everyone see this? In an article titled "Obama Paid Lower Tax Rate Than Secretary," we learn that the Obamas paid an effective rate of 20.5 percent in 2011. White House aides would not reveal presidential secretary Anita Breckenridge's tax rate (on earned income of $95,000) but confirmed it was higher than the first family's rate. And the Obamas paid a rate far below the 30 percent Buffett Rule rate.