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The Buffet Rule would pay for 0.1% of Obama's budget this year, are people falling for this class warfare?
14 Answers
- Max KLv 59 years agoFavorite Answer
Hook Line and Sinker. Its a sad day for America that 50% of the country is ignorant enough to fall for it.
- ?Lv 59 years ago
People on the right are friggin morons. So what your saying is tax the poor so they are paying "something" when taxing the bottom 100,000,000 americans 100% of their entire net worth would bring in the combined total of the top 400 richest americans. Yes that is an absolutely true fact!!! In essence raising taxes 3% on the bottom 100 million americans would bring in far less than taxing the top 400 americans 3% and we would be taking literally all that money out of the economy because unlike the top 400 the bottom 100 million spend every cent of their paycheck every week!!! Get a brain neocons and start voting for the president that is in your best interest...hint, it ain't romney!!
- ugotthatLv 69 years ago
So we should pay .1% less? And just let the deficit balloon even more as the middle class foots the tax cuts for the wealthy?
I see nothing great about subsidizing the lifestyle of a wealthy deadbeat. Judging by the deficit and high unemployment it's obvious tax cuts aren't working and the wealthy are getting richer.
That's no trickle down anything. That's Deadbeat economics and financing a free ride.
- SarahLv 79 years ago
And? You pretend that this is the only plan. He also calls for lowering corporate tax rates, he's already cut taxes for small businesses 17 times, keeping middle class tax cuts, helping businesses with loans, 4 trillion in across the board spending cuts, etc.
What has Romney offered, again? Oh, that's right....even more spending on defense, yet another preemptive war, and his budget spends significantly more than Obama's.
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- ?Lv 79 years ago
That's not the point.
The point is that the current tax code distorts the market by giving favorable treatment to capital gains over other forms of income.
Distortions in the market are bad for capitalism and for the economy, and should therefore be corrected. Market distortions cause ill economic effects that exceed their immediate monetary value.
It's telling that Republicans are against restoring capitalism and market forces in situations where it negatively affects the rich (i.e. in the elimination of special favors for the rich), even if it's the right thing to do for the country as a whole.
- 9 years ago
They still think "cash for clunkers" was a brilliant Obama financial plan ! Here is a math problem for your typical liberal ................
A vehicle at 15 mpg and 12,000 miles per year uses 800 gallons a year of gasoline.
A vehicle at 25 mpg and 12,000 miles per year uses 480 gallons a year. So, the average clunker transaction will reduce U.S. gasoline consumption by 320 gallons per year, hopefully.
The "Cash for Clunkers" program claims 700,000 vehicles — so that's 224 million gallons a year. That equates to a bit over five million barrels of oil. Five million barrels of oil is about one quarter of one day's U.S. consumption. Hey, every little bit helps.
And, five million barrels of oil costs about $375 million dollars at $75 a barrel.
So, we all contributed to spending $3 billion (cost of "Cash for Clunkers") to save $375 million. Really good deal? $3 billion for $375 million?
The government will probably tell us that we will save that $375 million every year. Maybe five years? So what is the interest we are going to pay China on $3 billion, probably forever? And they got all that scrap steel besides?
Another thought — the new car owner will save $960 per year at $3 per gallon.
And we paid up to $4,500 per car so that could happen?
Source(s): Obama basically spent $8.00 to make $1.00 ...............And the liberals tell us that Obama will do a great job on your health care too ??? - ?Lv 69 years ago
Why call it class warfare? Heck, I just call it getting things fair, regardless the class if they are making money.
- ?Lv 79 years ago
0.1% is better than nothing. Class warfare is a system where people who make millions a year pay less of a percentage of their income in taxes than people who make thousands a year.
- Anonymous9 years ago
Apparently you are falling for the idea that you ought to pay lots more taxes to finance a big tax cut for the ultra-rich, who have so much money they could never spend it all. Now that's class warfare!
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