Mathematically speaking: Take away, give away

by YankeeJim | September 19, 2011 at 04:24 pm
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Buffet Rules

Buffet Rules

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Debit, Credit

Look, I understand the situation. It is straightforward. The Bush tax breaks to the wealthy were unaffordable at a time when Bush war policy was too aggressive. We could not afford it and finances got out of balance. Now, those who benefited unfairly are going to have to pay it back. Wars must stop and the Department of Defense is going to take a budget hit while US foreign policy is adjusted.


“Friend --

This morning, the President proposed the "Buffett Rule," which would require those earning more than $1 million a year to pay the same share of their income in taxes as middle-class families do.

This proposal makes sure millionaires and billionaires share the responsibility for reducing the deficit. It would correct, for example, the fact that Warren Buffett's secretary currently pays taxes at a higher rate than he does.

The other side is already saying it's "class warfare" -- that's their rhetorical smokescreen for providing millionaires and billionaires special treatment.

As the President said this morning, "This is not class warfare -- it's math."

The wealthiest Americans don't need further tax cuts and in many cases aren't even asking for them. Requiring that they pay their fair share is the only practical way forward. The Republican alternative is to drastically slash education, gut Medicare, let roads and bridges crumble, and privatize Social Security. That's not the America we believe in -- but many in the Republican leadership actually prefer those policies, which explains their refusal to act.

That's why they'll say "tax increase" over and over again, trying to muddy the waters and trick ordinary Americans into thinking the Buffett Rule will hurt them. And if we don't speak out right now, they just might get away with it.

If you stand with President Obama in this fight and want to see the Buffett Rule passed -- say you'll get his back now.

Of course, the Buffett Rule won't really touch most Americans -- only 0.3% of households will even be affected.

And without it, the only way to reduce our debt is to savage the programs that seniors and middle-class families rely on.

That's exactly what the President refuses to do -- in fact, he's said he'll veto any bill that changes benefits for folks who rely on Medicare but doesn't raise serious revenue by asking the wealthiest Americans or biggest corporations to pay their fair share.

This isn't just a commonsense approach to cutting the deficit -- it's the only way to make sure we can provide security to people who work hard and play by the rules.

So right now, I'm asking you to say you'll stand with the President on something that won't be easy. Get the President's back today:

http://my.barackobama.com/Buffett-Rule

Thanks,

Messina

Jim Messina
Campaign Manager
Obama for America”

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1
"thirty-aught-six"

The lie is that increasing the taxes on 0.03% of the population will resolve our deficit/debt issues while Obama increases spending on an agenda that has already proven to offer zero job creation the last time around when he offered the same package of road building/bridge building to the States. The overhead on government services is going to have to be addressed and the sooner Democrats stop with the tax the wealthy BS and get on with the hard work of trimming government fat/duplication of services/ and other wasteful entities; the sooner the people will believe this government has the will to be the government of the people, and not the Party who's sole interest is government expansion and a social agenda that encourages further government expansion. It's time to get off the merry-go-round of spin on top of spin. The public is dizzy and [more] Democrats are going to pay come election for making them so. Makes you wonder just who's side Obama is on. It ain't the public's or Democratic Party Rep's.... 

0
YankeeJim

I would sure like some economists explain it and evaluate the impact so that I can understand it better.

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