President Obama, Warren BuffettPresident Obama's "laser like focus" on jobs seems only to entail pushing for things that will have the exact opposite effect of creating jobs. His latest nonsense? The Buffett Rule. Good grief; Warren Buffett's secretary is omnipresent. Does she even perform her job as, you know, secretary or is she now just a shill for Obama?
Desperate to foment an atmosphere of class warfare, he and his fellow Democrats have even resorted to trying to tie Ronald Reagan, a man whom they usually viciously demonize, to the absurd Buffett Rule. It doesn't pass the smell test, though. Even we oh-so-silly "never worked a day in our lives" moms can see that, as evidenced when the White House shamefully took to Twitter to push the "fair share" Buffett Rule falsehoods. Evidently, some "bitter clingers" know garbage when they see it. Of course, many regular people know what it's like to meet a payroll, unlike our President.
The lie about how Ronald Reagan would totally heart the Buffett Rule was just as egregious -- and false. Ronald Reagan argued for closing loopholes, not creating new ones. He also lowered tax rates on our highest earners, he didn't seek to punish them. But, "fair share" and stuff! How can this be? As Ronald Reagan said, "My friends, history is clear: Lower tax rates mean greater freedom, and whenever we lower the tax rates, our entire nation is better off."
It would be wise for people to remember that, lest we are doomed to repeat history. Remember the last "millionaire's tax"? The Alternative Minimum Tax was created to punitively tax under 200 people. It now harms 27 million taxpayers.
While polls show the public is in favor of the Buffett Rule, the questioning is misleading, plus the press is acting as water boy for the President. Were the Buffett Rule, and it's expected results or lack thereof, explained properly, the public would respond with a hearty "no, thank you."
Economy in the crapper? Stagnant job growth? Out of control spending? Hey, let's punish the risk-takers and the investors! That is what the Buffett Rule would do and it would not even make a dent in the deficit. Great plan there, genius.
Instead of offering pablum like the Buffett Rule all merely in a quest to foment a class warfare mentality, perhaps the President should try doing his job and focus on ways to help the economy, not harm it. But, hey, his election is all that matters, isn't it?
To President Obama, yes. The economy and the good of our nation be damned.
Image via Medill DC/Flickr