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Comments about ‘Obama in Florida pressing for 'Buffett rule'’

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Published: Tuesday, April 10 2012 1:10 a.m. MDT

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SME
Kearns, UT

Taxes are always initially passed by promising to "soak the rich", then after they are passed the gradually effect everybody else as well. Once the camel's nose is under the tent, the rest of the camel is sure to follow. Keep un mind that when the income tax was initially passed, congress assured the nation that this would apply to only 2% of the nation, "only the rich".

procuradorfiscal
Tooele, UT

Re: "Obama in Florida pressing for 'Buffett rule'"

Buffett rule? You mean the rule that says eurosocialist liberal political hacks must use prevarication to push their deranged, devisive, unsustainable tax-and-spend agenda?

lost in DC
West Jordan, UT

You mean the rule that will raise revenues by only about $3 Billion per year when he is running deficits in the trillions? BO isn’t pushing the Buffet rule to close the deficit, he’s pushing it to maintain his class warfare agenda.

Revenue is not the problem, it is spending.

JWB
Kaysville, UT

When you realize that the Federal Government is Suing a Warren Buffett-Owned Company Over $366 million in Unpaid Taxes. The Berkshire division at the center of the suit is NetJets, the private-aircraft company that caters to the nation’s wealthiest — the people Mr. Buffett says should pay more in taxes. The President doesn't talk about this law suit and the case behind it which has gone on for years. Warren Buffett is a big talker as is the Presideent. If Warren Buffett wants to pay more taxes for himself, it seems like he would pay the $366,000,000 which he has owned for quite a while. He doesn't like to pay interest but his attorneys will spend that in court costs. Warren Buffett likes his power and the President is giving him his day in Florida but the government is in court.

RedShirt
USS Enterprise, UT

Let not forget the story that the AP ran 3 weeks ago titled "'Buffett' tax would only yield $31B, report states". The AP figured out that over 11 years the nation would collect $31 Billion from the wealthy by following Obama's plans, that means that the tax on millionaires would result in $2.8 billion/year in additional tax revenues. With a $1.4 Trillion deficit, that means that by taxing billionaires we cut the deficit by 0.2%.

Cutting Ethanol Subsidies would result in a $6 billion savings. Cutting unemployment benefits back to 6 months would save the government up to $82 Billion.

There are many more effective ways of saving money than raising the taxes on millionaires.

VST
Bountiful, UT

Well now let's see. The Buffett rule would raise $47 billion in tax revenue over the next ten years. That will cover about one week of Government expenditures. Meanwhile the projected deficit will increase by $7 trillion dollars over the same time period.

Now then, I have one question for Joe Biden. Just who is 'out of touch' with reality?

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