Deception...or a purse snatcher...

[Pudfark]

This reminds me of how the Nazis blamed the Jews to validate the confiscation of their property and lives.

IRS Data Show Most Millionaires Pay Taxes at Higher Rate Than Middle Class

President Obama and his advisers are presenting the "Buffett Rule" as the cure for an epidemic of millionaire tax scofflaws, but national statistics show millionaires by and large are paying taxes at a much higher rate than middle-class families.
And their income taxes make up a significant portion of the federal budget pie.
Data compiled by the nonpartisan Tax Policy Center show households pulling in more than $1 million pay about 29.1 percent of their income in federal taxes. By contrast, households making between $50,000 and $75,000 pay about 15 percent.

The so-called Buffett Rule has become the political centerpiece of the president's deficit-reduction program. Named after Warren Buffett, the provision would ensure people making more than $1 million a year pay taxes at a higher rate than the middle class.
The president proposed the rule after Buffett complained he was paying taxes at a lower rate than his secretary. Democrats said he's not the only one -- according to Senate Democratic Leader Harry Reid's office, 22,000 people who make over $1 million a year pay taxes at a rate of less than 15 percent. According to the IRS, nearly 1,500 households reporting more than $1 million in income paid no federal income taxes in 2009.
That's out of about 236,000 returns for income above $1 million, most of which belong to households paying taxes at a higher rate. And, as would be expected, they contribute a disproportionate share of tax toward federal coffers.
IRS statistics for tax year 2009 show the millionaires -- who make up a fraction of a percent of all taxpayers -- contributed more than 20 percent of total federal income tax revenue. That's about $180 billion in taxes from millionaires, according to number-crunching from the National Taxpayers Union.
The National Taxpayers Union also found that in 2008 the top 1 percent of American taxpayers paid 38 percent of collections for personal federal income tax while they represented 20 percent of all income.
For those wealthy Americans paying taxes at a seemingly low rate, it could be because they earn income overseas or because a large part of annual income is from investments. Though corporate profits are taxed at 35 percent, in the form of capital gains and dividends they are taxed at 15 percent. Senate testimony in May from the Tax Foundation also showed that for taxpayers making more than $200,000 a year, their salary income made up just 20 percent of national salary income. Much more came from business income.
In total, the Obama deficit-reduction package would seek to raise taxes, mostly on high-income households, by $1.5 trillion over the next decade.
About half of that is from letting the Bush tax cuts expire for households making more than $250,000. Other changes would strip tax breaks for oil and gas companies and other benefits.

The White House would not say how much might be raised from the Buffett Rule or how it would be implemented.

Read more: http://www.foxnews.com/politics/2011/09 ... z1YVhma0o0

WTF? "The White House would not say how much might be raised from the Buffett Rule or how it would be implemented." WTF?
Yup, Obama admitting he don't know WTF he's doing or the consequences.

Here's a dab of common sense for y'all....Poor folks and the current crop of politicians ain't gonna restore our country. Because? The poor don't have any money to invest and the current crop of politicians don't have any more money to borrow. Moving right along.... It's gonna take folks with money to invest (the rich) and a complete change in the political arena to effect a permanent and complete restoration. Because? The rich have the money to invest and hopefully, the new political arena will be such that it encourages and rewards the investment by those willing to make it. As opposed to those willing to borrow it...and make the poor pay it back... Our national debt is ours collectively. Just, as our vote is ours collectively. It is not for another to pay, just because it is perceived that they are able.

Old Pudfark sez? " It's hard to pull a rabbit out of the hat....when ya just ate him fer dinner.... "

[CUDA]

I heard it said about Buffet calling for Higher taxes on millionaires, that it's easy for him to call for those taxes when it would take the average Millionaire 50,000 years to earn what Buffet has. not to mention that "supposedly" one of Buffets corps owes "supposedly 1 billion in back taxes.

[nicolas10]

Eyecandy.

Let's talk corporate tax please.

edit: I hadn't even read Cuda's post, but now I feel like saying it: "case in point"

Nic

[CUDA]

On Monday, The Blaze reported that Warren Buffett’s company, Berkshire Hathaway, owes back taxes dating to 2002. The news is significant because in a recent op-ed column for the New York Times, Buffett, one of President Obama’s staunchest supporters, stated that, to now, the “super wealthy” have been coddled and deserve to be taxed at an even higher rate than they currently are.

AH I see how it works, call for higher taxes on the wealthy and then just don't pay them. you'd have thought the IRS would have the man in jail by now for owing nearly 1 billion in back taxes

http://www.newsmax.com/Headline/buffett ... /id/409520

[Pudfark]

Excellent find Cuda....

[fatman]

Looks like you guys need a bit of old school British Labour

Caine has been open about his political ... ens."[34]

[Pudfark]

Thankx Fats...impressive...