Bill Clinton pivoted and worked with the GOP led House and Senate, Obama has tripled down…
Mr Krauthammer’s op-ed piece clearly articulates Obama’s disastrous bit of wealth redistribution policy entitled the Buffett Rule. It does not impact our debt or deficit and would require some 250 years just to alleviate one year of Obama trillion dollar plus deficits. Bill Clinton pivoted and worked with the GOP led House and Senate, Obama has tripled down. This is a choice between two ideologies which yield two very different futures for America. I challenge my liberal admirers to show me where in the world has a socialist egalitarian State been successful?
Washington Post Op-Ed – “Free-lunch egalitarianism” By Charles Krauthammer
Here we go again.
At the beginning of his presidency, Barack Obama argued that the country’s spiraling debt was largely the result of exploding health-care costs. That was true. He then said the cure for these exploding costs would be his health-care reform. That was not true.
It was obvious at the time that it could never be true. If government gives health insurance to 33 million uninsured, that costs. Costs a lot. There is no free lunch.
Now we know. The Congressional Budget Office’s latest estimate is that Obamacare will add $1.76 trillion in federal expenditures through 2022. And, as one of the Medicare trustees has just made clear, if you don’t double count the $575 billion set aside for the Medicare trust fund, Obamacare adds to the already crushing national debt.
Three years later, we are back to smoke and mirrors. This time it’s not health care but the Buffett Rule, which would impose a minimum 30 percent effective tax rate on millionaires. Here is how Obama introduced it last September:
“Warren Buffett’s secretary shouldn’t pay a [higher] tax rate than Warren Buffett. . . .And that basic principle of fairness, if applied to our tax code, could raise enough money” to “stabilize our debt and deficits for the next decade. . . . This is not politics; this is math.”
Okay. Let’s do the math. The Joint Committee on Taxation estimates this new tax would yield between $4 billion and $5 billion a year. If we collect the Buffett tax for the next 250 years — a span longer than the life of this republic — it would not cover the Obama deficit for 2011 alone.
As an approach to our mountain of debt, the Buffett Rule is a farce. And yet Obama repeated the ridiculous claim again this week. “It will help us close our deficit.” Does he really think we’re that stupid?
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- Ira Stoll on the Deception of the Buffett Rule (reason.com)
- Did you email your US senator and US Rep. about the “Buffett Rule” as the President Asked? (goodolewoody.wordpress.com)
- Allen West: American ‘republic will collapse’ under Obama (thegrio.com)
- Rep Allen West “The Presidents actions and words more so resemble the flailing of a drowning person” (usamericanfreedom.com)