Here we go again.
President Obama is back it it with the Buffet Rule -- otherwise known as the millionaire's tax.
Obama says that the "wealthy" simply must pay more. And now he's trying to convince you that they actually want to pay more.
Forget that Buffet reportedly owes up to a billion bucks in back taxes. Buffet wants to pay more. Okay?
So, how much more will this new millionaire's tax raise? A bit more than $4 billion a year or roughly $47 billion over ten years.
Sounds like a substantial piece of change. But don't be fooled.
What we're talking about amounts to a mere one half of one percent of our total deficit. You got that right: 0.05%!
And that $47 billion that will take ten years to accumulate? Well, that will fund the US government for exactly one week.
This isn't a revenue raiser of any note and it isn't about fairness since the top ten percent in income are already paying more than 70% of all the federal income taxes. No, this is down and dirty resentment of the basest sort as directed by Obama & Co.
And you know what they say about resentment: Resentment is like drinking poison and waiting for the other person to die.
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