The Buffet Tax Joke

Mr. Buffet is smart. He is smart enough to propose a new tax for “millionaires and billionaires” that he and many others likely will not have to pay. Buffet’s joke is on us, and President Obama is using this tax joke to garner votes through class warfare. Here’s why Buffet will not pay more taxes.

Obama to Letterman: Misleading or Wrong Statements

On Letterman’s September 20th show Obama made several misleading statements on the major issues of the day— debt and taxes.

OBAMA: The ($16T) debt is not a short-term problem. What does he mean by “short-term?” His 2013-2022 budget released from the Whitehouse indicates a debt increase of $4.67T in the next four years — a total increase of $11T over ten years. Is ten years short-term? These numbers do not include anything for his several education, infrastructure, jobs, etc. “proposals.”

President Obama’s Conflicting Debt Positions

The Quote of the Decade:  “The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the US Government cannot pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. Increasing America ‘s debt weakens us domestically and internationally. Leadership means that, ‘the buck stops here.’ Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.” ~ Senator Barack H. Obama, March 2006 As President Obama, he has:

TWO PATHS TO PROSPERITY

There are two paths to prosperity:

PATH 1.:  Steal it from others — through wars, taxation and robbery

PATH 2.:  Create value to build wealth — create what people need and want

Government deficit spending is stealing from today’s youth and robbing from future citizens.

> Liberals have chosen PATH 1.

> Fiscal conservatives have chosen PATH 2.

WHAT PATH WILL YOU CHOOSE?

Who’s Really To Blame For Our Financial Crisis?

The answer is BOTH parties. The democrats, particularly Clinton’s Administration, caused the most harm. Here is the history:

1977:  Under Carter the Administration the Community Reinvestment Act (CRA) was enacted that encouraged banks to provide home mortgages in their low-income neighborhoods where low-income customers had deposits — a good and noble goal.

1995:  The Clinton Administration rewrote the CRA rules to REQUIRE loans be made to low credit quality borrowers and these new rules became effective in January 31, 1995. This was the start of subprime mortgages — where borrowers did not meet the historic standards of the homeowner of the past.

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