Obama's Abominable Obamanomics
Ever wonder when you wake up in the morning if we’re blessed to be living in a rare age of wonderment, of great innovations and unprecedented progress? Or is ours a cursed era where little makes sense, where up is down, where truths are lies, where the formerly-understood has degenerated into massive confusion?
Our age is all of the above, though the nonsensical, falsehoods, misrepresentations, and confusions have upstaged innovative progress, taken center stage, and are evolving into the norm.
When President Barack Hussein Obama unequivocably declared in August, 2009 that the United States should never raise taxes during a recession, he seemed, even to me, sincere. When he said, “The last thing you want to do is raise taxes during a recession,” he seemed to believe what most rational people think, that the very thought of any government taxing money out of an already-reeling economy was incomprehensible.
That was then, this is now.
Two years later, with America’s economy still in pitiful shape, unemployment stuck at over 9%, poverty on the rise, the under-employed numbering some 26 million, those who hire not hiring for fear of the future, food stamps being doled out like candy at Halloween, the nation’s credit rating lower than ever before, our president is proposing $1.6 trillion in new tax levies.
Fear not, however. Those taxes, which he pledged would never be exacted during a recession, will only burden the filthy rich, i.e., anyone earning more than his constituents. The 45% of American workers who don’t pay a dime in federal income taxes now will continue to save that dime under his scheme and the wealthy would finally cough up their fair share.
Obama never lets facts intrude on his socialist ideology and intentionally ignores an Associated Press report which puts the lie to his populist soak the rich gambit.
The same AP that has twisted news to his advantage since 2007 exposed Obama for a tax charlatan by revealing the truth.
According to the CBO, ”On average, the wealthiest people in America pay a lot more taxes than the middle class or the poor . . . They pay at a higher rate, and as a group, they contribute a much larger share of the overall taxes collected by the federal government. The 10 percent of households with the highest incomes pay more than half of all federal taxes. They pay more than 70 percent of federal income taxes.”
So much for Obama-buddy multi-billionaire, Warren Buffett, so much for Obama’s wealth theories.
Regardless of his other misrepresentations, did we miss something here? Did the recession, when raising taxes was verboten, end and nobody noticed? . . .
(Read more at http://www.genelalor.com/blog1/?p=5500)
Showing posts with label warren buffett. Show all posts
Showing posts with label warren buffett. Show all posts
Tuesday, September 20, 2011
Friday, August 26, 2011
Buffett's Bluffing
Buffett's Bluffing
. . . Unlike most carpenters, Buffett has, he says, cut off his progeny from his billions when he eventually shuffles off this mortal coil. Susan, Howard, and Peter Buffett can just shuffle for themselves, he says, when Warren bites the bullet and moves on up to the great corporation in the sky.
He might just as well sing, “If I were a billionaire/ And gave it all away/ Would you love me anyway/ Would you be my babies?”
Maybe they will, and maybe not since Buffett’s whole, politically-motivated charade, his pledge to give away 99% of his almost boundless wealth, most to be dispensed, with strings attached and in relative deibbles, to the philanthropic Bill and Melinda Gates Foundation, is an outrageous crock.
Borne of his new-found, George Soros-esque, socialistic, pseudo-egalitarianism and guilt over decades of milking the capitalist system for all it was worth, Buffett’s pledge is less a promise than a threat.
When octogenarians sniff their mortality, some seem to get social consciences even as their years tend to cloud their sanity.
Alternatively referred to as the Oracle of Omaha and the Sage of Omaha, the oracular, sagacious Buffett earned his billions as Chairman, CEO, and principal shareholder of the amazingly-successful American conglomerate, holding company, Berkshire Hathaway.
Just incidentally, Buffett indirectly made my neighbor a millionaire when Berkshire’s principal holding, Coca Cola, bought out his modest Coke delivery enterprise. For that, my neighbor is eternally grateful, even worshipful, of Buffett, Berkshire Hathaway, and Coke, although he thinks Buffett’s professed, current political and economic views are asinine.
Good call, neighbor!
In conjunction with his 99% pledge which, even if fulfilled some day and which would leave him with a piddling $600,000,000 of his current $60 billion kitty, Obama buddy Buffett wants his fellow billionaires to cough up half their money for the common good, an invitation with as much likelihood of acceptance as Obama becoming a capitalist.
Knowing that Pollyannaish idea is a non-starter, he has other monetary plans up his sleeve which would threaten the livelihoods of millions.
Buffett made headlines with his as yet unfulfilled 99% giveaway as well as with his claim of paying 17.4% in federal taxes, a much lower rate than that paid by his secretary, and with his persistent insistence that the government undertaxes the rich even as it is in dire need of additional funding.
He ignores the truth that the upper echelons already pay 70% of federal taxes and 45% of those at the other end pay zilch and he doesn’t cite the primary cause of that funding shortfall–Obama’s profligacy. He also hasn’t offered to raise his secretary’s salary in compensation nor to write a check for ten billion or so to the Treasury Department to tide it over.
What he could do to help his country, and hasn’t . . .
(Read more at http://www.genelalor.com/blog1/?p=5293)
. . . Unlike most carpenters, Buffett has, he says, cut off his progeny from his billions when he eventually shuffles off this mortal coil. Susan, Howard, and Peter Buffett can just shuffle for themselves, he says, when Warren bites the bullet and moves on up to the great corporation in the sky.
He might just as well sing, “If I were a billionaire/ And gave it all away/ Would you love me anyway/ Would you be my babies?”
Maybe they will, and maybe not since Buffett’s whole, politically-motivated charade, his pledge to give away 99% of his almost boundless wealth, most to be dispensed, with strings attached and in relative deibbles, to the philanthropic Bill and Melinda Gates Foundation, is an outrageous crock.
Borne of his new-found, George Soros-esque, socialistic, pseudo-egalitarianism and guilt over decades of milking the capitalist system for all it was worth, Buffett’s pledge is less a promise than a threat.
When octogenarians sniff their mortality, some seem to get social consciences even as their years tend to cloud their sanity.
Alternatively referred to as the Oracle of Omaha and the Sage of Omaha, the oracular, sagacious Buffett earned his billions as Chairman, CEO, and principal shareholder of the amazingly-successful American conglomerate, holding company, Berkshire Hathaway.
Just incidentally, Buffett indirectly made my neighbor a millionaire when Berkshire’s principal holding, Coca Cola, bought out his modest Coke delivery enterprise. For that, my neighbor is eternally grateful, even worshipful, of Buffett, Berkshire Hathaway, and Coke, although he thinks Buffett’s professed, current political and economic views are asinine.
Good call, neighbor!
In conjunction with his 99% pledge which, even if fulfilled some day and which would leave him with a piddling $600,000,000 of his current $60 billion kitty, Obama buddy Buffett wants his fellow billionaires to cough up half their money for the common good, an invitation with as much likelihood of acceptance as Obama becoming a capitalist.
Knowing that Pollyannaish idea is a non-starter, he has other monetary plans up his sleeve which would threaten the livelihoods of millions.
Buffett made headlines with his as yet unfulfilled 99% giveaway as well as with his claim of paying 17.4% in federal taxes, a much lower rate than that paid by his secretary, and with his persistent insistence that the government undertaxes the rich even as it is in dire need of additional funding.
He ignores the truth that the upper echelons already pay 70% of federal taxes and 45% of those at the other end pay zilch and he doesn’t cite the primary cause of that funding shortfall–Obama’s profligacy. He also hasn’t offered to raise his secretary’s salary in compensation nor to write a check for ten billion or so to the Treasury Department to tide it over.
What he could do to help his country, and hasn’t . . .
(Read more at http://www.genelalor.com/blog1/?p=5293)
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