President Obama Abandoned The Buffett Rule Regarding Taxing The Rich

What This Will Mean For The Economy

First Lady Michelle Obama and President Barack Obama

Forbes magazine did a write up on President Obama abandoning the Buffet rule, named after billionaire Warren Buffett, regarding rich people not paying enough taxes in America. President Obama's budget made public this month, contains no such rule, which means less revenues for the treasury to create jobs for the unemployed in America and pay down the massive national deficit. Obama flinched at the last minute, bowing to the rich, when America needs the tax revenue. His new budget is more of the same, which has been unsuccessful for three years.

If I were a head of state, under current economic conditions, as I have maintained in articles for years, I'd raise taxes on the rich. My attitude would be: *rolls eyes* what are they really going to do to me - besides that's what they make bullet proof vests for. Everyday I'd also say to my bodyguards, "We're not married, why are you walking beside and not in front of me - because if they shoot me, I'm going to shoot you. It's easy to remember, if I get shot, you get shot."

STORY SOURCE

Where Did the Buffett Rule Go?

2/15/2012 @ 5:12PM - In last month’s State of the Union address, President Barack Obama endorsed a so-called “Buffett Rule”: an additional alternative minimum tax that would ensure that people making over $1 million would pay at least a 30 percent tax rate. So it comes as some surprise that the President’s budget, released this week, doesn’t contain a Buffett Rule.

In the written budget narrative, Obama lays out broad principles for tax reform, including a call for the Buffett Rule. Other items in that narrative include lower tax rates with fewer deductions and exclusions, making tax incentives more progressive, and “fundamental corporate tax reform.” But none of those proposals are actually scored in the budget tables—while Obama is saying they would be a good idea, he is not proposing them for Fiscal Year 2013. Instead, the White House’s proposals for new revenue are a rehash of what it has proposed in the past...

http://www.forbes.com

Has Barack Obama Become Out Of Touch Since Becoming President

Did The Move To The White House Change Him Rather Than Him Creating "Change"

Barack Obama

Over the past year, polls have consistently indicated a sizeable decline in support for President Barack Obama among independent voters. This was a demographic Obama enjoyed a great deal of support from in the 2008 election. With said section of voters withdrawing their support in 2012, what will this mean for Obama in this year's presidential election. 99% of polls, especially the granddaddy of them all, Gallup, indicate any Republican candidate will beat Obama in this year's election.

It is clear Obama has lost touch with reality and the everyday people since becoming president, which is a dangerous thing for any head of state. Obama has become a corporate president and not the kind that knows finance in a manner that creates greater revenues and jobs for the nation. He has spent more money than the nation made, greatly adding to the deficit and financial decline of the country.