Ace of Spades HQ

April 10, 2012

Obama's Big Buffet Rule Gambit Aimed At... 135 Taxpaying Households
— Ace

You can't be serious.

Of the 400 highest income Americans, one out of every three in this group of the most financially fortunate Americans paid less than 15 percent of their income in income taxes in 2008.

One in every three of the top 400 taxpayers.

Why doesn't he just come clean, like Nancy Pelosi did, and confess that his ultimate goal isn't to tax one third of the richest 0.001% (as that raises trivial amounts) but to end the Bush Tax Cuts for the middle class?

A top-of-the-line gold-plated government is going to cost a lot of money.

If Obama wants to elevate the tone, maybe he could begin with some honesty. And some math.

Posted by: Ace at 03:17 PM | Comments (97)
Post contains 141 words, total size 1 kb.

1 Nancy Pelosi does not have a puffy face.

Posted by: wooga at April 10, 2012 03:18 PM (vjyZP)

2 Obama is a stuttering clusterf*ck of a miserable failure.

Posted by: steevy at April 10, 2012 03:19 PM (7W3wI)

3 we are going to be sooo broke if this axxhole is re-elected.

Posted by: TruthSpeaker at April 10, 2012 03:21 PM (pqVyv)

4 I'm waiting to hear what Romney says about this....

.....

....

Posted by: cherry at April 10, 2012 03:22 PM (OhYCU)

5 Math is racist.

Posted by: Wyatt's Torch at April 10, 2012 03:22 PM (zxrQh)

6 Honesty is racist, too.

Posted by: eureka! at April 10, 2012 03:23 PM (LQIyD)

7 How much did they pay in capital gains?

Posted by: Ghost of Lee Atwater at April 10, 2012 03:23 PM (E1JyF)

8 When I signed on to destroy the nation I was told there would be no math.

Posted by: Barky O'Genius at April 10, 2012 03:23 PM (QKKT0)

9 I hope the Occupy people go to each of their homes.

Wait for the inevitable overreach.

Posted by: cherry at April 10, 2012 03:24 PM (OhYCU)

10 Honesty is racist, too.

Don't go imposing your slave-master values on me, wingnut.

Posted by: Barky O'Genius at April 10, 2012 03:24 PM (QKKT0)

11 If Obama wants to elevate the tone, maybe he could begin with some honesty. And some math.

Seeing as he's a lying stealing POS and always has been, I'm not expecting much.

Posted by: Additional Blond Agent at April 10, 2012 03:25 PM (PMGbu)

12 Why doesn't he just come clean, like Nancy Pelosi did, and confess that his ultimate goal isn't to tax one third of the richest 0.001% (as that raises trivial amounts) but to end the Bush Tax Cuts for the middle class? True but False.

Posted by: steevy at April 10, 2012 03:25 PM (7W3wI)

13 I keep waiting for at least one pol to say something about the failed AMT we already have. Why is everyone ignoring the elephant on the couch?

Posted by: Vic at April 10, 2012 03:25 PM (YdQQY)

14 OT, but my panties are soaking wet and steaming right now with Rickie's withdrawal.

Posted by: Hugh Hewitt at April 10, 2012 03:26 PM (LQIyD)

15 I'm waiting to hear what Romney says about this....

He's addressed it already. Get the shit out of your ears and you'll be able to hear him better next time.

Posted by: Hollowpoint at April 10, 2012 03:26 PM (SY2Kh)

16 top-of-the-line gold-plated government

yo, dude. Get outta my mouth.

Posted by: Gold Toothed Citizens at April 10, 2012 03:26 PM (OhYCU)

17 There are 135 people out there, standin' by the side of the road drinkin' their Slurpees, while me and Plugs are workin' an' tryin' to get this car out of the ditch.

Posted by: Barky O'Genius at April 10, 2012 03:26 PM (QKKT0)

18 Hugh, mine too. But for different reasons. Just can't get enough peni.

Posted by: Sandra Fluck at April 10, 2012 03:27 PM (LQIyD)

19 If this commie gets re-elected I am thinking of making my Dental Practice an all cash business. Take my name off the front door and go underground.

Posted by: Nevergiveup at April 10, 2012 03:27 PM (i6RpT)

20 Those 135 people despise me because I'm shockingly beautiful.

Posted by: Samantha Brick at April 10, 2012 03:28 PM (QKKT0)

21 (CNSNews.com) - Assistant Secretary of State for African Affairs Johnnie Carson said Monday that Â“religion is not driving extremist violenceÂ” in Nigeria--just one day after a Christian church conducting an Easter service was targeted by a car bombing that left 39 dead. Similarly, on Christmas Day, the Nigerian Islamist terrorist group, Boko Haram, attacked a Catholic church in that country, killing more than 40 people. Â“I want to take this opportunity to stress one key point and that is that religion is not driving extremist violence either in Jos or northern Nigeria,Â” Assistant Secretary of State Carson said Monday at a forum on U.S. policy toward Nigeria held at the Center for Strategic and International Studies (CSIS) in Washington, D.C.

Posted by: steevy at April 10, 2012 03:28 PM (7W3wI)

22 I think a more important story is the 1st lady's plan to starve the president. It's working.

Posted by: Dr Spank at April 10, 2012 03:29 PM (KNvk+)

23 It is disingenuous in the extreme to report these people's tax bill as a percentage. How about the raw data?

For instance, IIRC Romney earned about $42 Million over the last two years, and will pay $6,200,000 for the privilege of being successful.

Posted by: CharlieBrown'sDildo (NJConservative) at April 10, 2012 03:29 PM (nEUpB)

24 Obama's brilliants obviates his occasional errs--most of which are plainly do to the insouciance of his administrative staph.

Posted by: Toure at April 10, 2012 03:30 PM (LQIyD)

25 Can we tax stupid people instead? That would probably pay off our national debt. (Just read the sidebar linked item on the tweets about "OMG, the Titanic was real??? and now am fearing for the fate of our nation.)

Posted by: ParanoidGirlInSeattle at April 10, 2012 03:30 PM (RZ8pf)

26 Assistant Secretary of State for African Affairs Johnnie Carson said Monday that Â“religion is not driving extremist violenceÂ” in Nigeria--just one day after a Christian church conducting an Easter service was targeted by a car bombing that left 39 dead.

And may the fleas of a thousand islamists infest your armpits, infidel.

Posted by: Here's Johnnie! at April 10, 2012 03:30 PM (QKKT0)

27 Get the shit out of your ears and you'll be able to hear him better next time.

I admire a true Romney fan. Are there many of you?

/I will vote for him. I eat broccoli, but I don't like it.

Posted by: cherry at April 10, 2012 03:31 PM (OhYCU)

28 Liberal Puritanism.

Posted by: HoboJerky at April 10, 2012 03:31 PM (dptRY)

29 Should I be getting together an outfit that will allow the New Black Panthers into my polling place? I should maybe get a SEIU t-shirt or some grilz? How long does it take to get your hair to go dred lock?

Posted by: dagny at April 10, 2012 03:31 PM (CMM9V)

30 Obama 2012: Hair Shirt America

Posted by: Cicero at April 10, 2012 03:32 PM (QKKT0)

31 Buffet, you say?

Posted by: Chris Chrispie at April 10, 2012 03:32 PM (OhYCU)

32 "The Buffett Tax: Politics, Not Math" (chart) http://tinyurl.com/dxy7z6d

Posted by: Miss80sBaby at April 10, 2012 03:32 PM (d6QMz)

33 Posted by: Nevergiveup at April 10, 2012 07:27 PM (i6RpT)

There are many physicians who no longer take any insurance. Their patients pay cash and then submit the bill for reimbursement. I have a doctor who does this and it works extremely well for him.

That's a start. But going completely underground might be tough.

No prescription writing.
You won't be able to buy medications directly.
You won't have the privilege of paying for crack whores to screw in Paterson.

Wait..one of these is a good thing.

Posted by: CharlieBrown'sDildo (NJConservative) at April 10, 2012 03:33 PM (nEUpB)

34 Who is this Rakba Mabooma? He doesn't look like anyone I ever saw in my classes.

Posted by: Math at April 10, 2012 03:33 PM (QTHTd)

35 That ain't where the money is.

Posted by: Willie Sutton at April 10, 2012 03:33 PM (QKKT0)

36 I mean for the New Black Panthers to let me into my polling place. I mean if I look the part they wouldn't try to intimidate me, right?

Posted by: dagny at April 10, 2012 03:34 PM (CMM9V)

37 Posted by: dagny at April 10, 2012 07:31 PM (CMM9V)

More than three days, because I have really curly hair and that's the longest I have ever gone without washing it.

Posted by: CharlieBrown'sDildo (NJConservative) at April 10, 2012 03:34 PM (nEUpB)

38 BTW, FoxB was talking about those Bush tax cuts earlier. They seem to think because some Dems like them that they will be able to pass a bill "extending them".

What we need to do is make them permanent so that small buisness people will be able to effectively plan.

We also need to kill Obamacare permanently (not rewrite it). But alas that is not possible so had better pray for SCOTUS.

Posted by: Vic at April 10, 2012 03:34 PM (YdQQY)

39 No prescription writing.

Wait. Why can't a doctor who doesn't take Medicare write prescriptions? Is he a witch doctor?

Posted by: Cicero at April 10, 2012 03:35 PM (QKKT0)

This whole thing is stupid.

If you laid out the total $23billion expected from the Buffet tax, end to end, the bills would stretch from here to the moon and back 5 times. That sounds like a huge amount of money.

The annual budget deficit by comparison would stretch from the earth to the sun and back to Mercury.

The national debt would stretch from the earth way out past Saturn, in fact 600 million miles past Saturn, almost to Uranus.

And the total unfunded debt bomb, the MedPartD, SS, etc, would be a continuous string of bills stretching 11.4 billion miles, a distance so large, Voyager 1, which launched 35 years ago and is the fastest ship ever created by man, still hasn't crossed that distance (it would be over 100 million miles short).

That is how screwed we are, and President dickless wants to play games.

Posted by: CAC at April 10, 2012 03:36 PM (S+zwo)

41 Assistant Secretary of State for African Affairs Johnnie Carson said[/]

Was this part of the "Great Carmack" routine?

Posted by: dagny at April 10, 2012 03:36 PM (CMM9V)

42 If I was a Republican in congress I would submit a bill that taxed all billionaires with names beginning in a J and B at a rate of 100%.

Then watch them squirm.

Posted by: Vic at April 10, 2012 03:36 PM (YdQQY)

43 CAIRO (AP) Â– Al-Qaeda warned Britain on Tuesday not to deport to Jordan a radical Islamist preacher considered a leading figure in the terror network. A statement from the organization posted on a militant website said Abu Qatada's expulsion would open "an unnecessary door to evil that will harm (Britain) and its subjects." Britain has been trying for years to deport the Palestinian-Jordanian Abu Qatada, whose real name is Omar Mahmoud Mohammed Othman. He has been described in both Spanish and British courts as a leading al-Qaeda figure in Europe and a threat to national security.... But the European Court of Human Rights ruled in January that Abu Qatada cannot be sent back to Jordan because of a risk that evidence obtained through torture would be used against him if he is put on trial there.

Posted by: steevy at April 10, 2012 03:37 PM (7W3wI)

Posted by: dagny at April 10, 2012 03:37 PM (CMM9V)

45 If Obama wants to elevate the tone, maybe he could begin with some honesty. And some math.

OK, now that's funny. I'm sure SNL will get right on that.

Posted by: AnonymousDrivel at April 10, 2012 03:37 PM (eHIJJ)

46 Is he a witch doctor? Posted by: Cicero at April 10, 2012 07:35 PM (QKKT0) No but he might be a werewolf. There Wolf

Posted by: Nevergiveup at April 10, 2012 03:37 PM (i6RpT)

47 And I mailed off my taxes today, both 2011 and first quarter 2012. I am not happy.

Posted by: Vic at April 10, 2012 03:37 PM (YdQQY)

48 The national debt would stretch from the earth way out past Saturn, in fact 600 million miles past Saturn, almost to Uranus.

Do you have any idea how meaningless these distances would sound to a modern high school graduate? (You would get a good laugh out of Uranus though.)

Posted by: Cicero at April 10, 2012 03:38 PM (QKKT0)

49 TruthSpeaker: "we are going to be sooo broke if this axxhole is re-elected."

We're broke now.

Posted by: AnonymousDrivel at April 10, 2012 03:38 PM (eHIJJ)

50 Why doesn't he just come clean, like Nancy Pelosi did, and confess that his ultimate goal isn't to tax one third of the richest 0.001% (as that raises trivial amounts) but to end the Bush Tax Cuts for the middle class?

Barky doesn't think like this. He doesn't think much at all. All he's looking to do is cause chaos wherever he can.

This Butthead Tax rule has never been anything more than Barky's idiotic 2008 primary debate in which he said that he would still raise capital gains taxes, even if he knew that it would result in decreased receipts ... just because it was a matter of ~~sticking it to whitey~~ fairness.

This is the same old shit rehashed and with that doddering old self-hating fool happy to play the Andy Griffith role for this one.

Posted by: ThePrimordialOrderedPair at April 10, 2012 03:38 PM (X3lox)

51 How many of these "financially fortunate" people voted for Obama, I wonder?

Posted by: Teresa in Fort Worth, TX at April 10, 2012 03:38 PM (0xqzf)

52 Sounds like some of these people are only paying capital gains taxes or have a huge amount of government bonds that are non-taxable.

Posted by: Voluble at April 10, 2012 03:38 PM (c8WV/)

53 But the European Court of Human Rights ruled in January that Abu Qatada cannot be sent back to Jordan because of a risk that evidence obtained through torture would be used against him if he is put on trial there.
----------------

Piss on them.

Posted by: Vic at April 10, 2012 03:39 PM (YdQQY)

54 Posted by: cherry at April 10, 2012 07:31 PM (OhYCU)

That was impressively restrained.

Posted by: CharlieBrown'sDildo (NJConservative) at April 10, 2012 03:39 PM (nEUpB)

55 Britain has been trying for years to deport the Palestinian-Jordanian Abu Qatada, whose real name is Omar Mahmoud Mohammed Othman

Wow. What a coincidence!! That's my dog's real name!

Posted by: dagny at April 10, 2012 03:39 PM (CMM9V)

56 The reality of a Romney/ Obama race is finally kicking in.

How many stages of grief are there, and how long will it last?

Posted by: cherry at April 10, 2012 03:39 PM (OhYCU)

57 Posted by: Cicero at April 10, 2012 07:35 PM (QKKT0)

I think he is talking about going completely off the grid. All cash...no tax.

Posted by: CharlieBrown'sDildo (NJConservative) at April 10, 2012 03:40 PM (nEUpB)

58 55 I think it's the name on Obama's REAL birth certificate.

Posted by: steevy at April 10, 2012 03:40 PM (7W3wI)

59 This entire administration have some sort of allergy/phobia to math and honesty. When math and honesty are combined they are known to fly into a hulk like (but with less control) rage.

Posted by: Shiggz RocketSurgeon doesnt reread before post at April 10, 2012 03:40 PM (RfvTE)

60 I'd like to see Romney dismantle that bullshit meme in a debate, too bad he'll be answering questions on the governments role in contraception.

Posted by: lowandslow at April 10, 2012 03:41 PM (GZitp)

61 'Buffett' Rule.

Meghan McCain could probably explain the Buffet Rule, though.

Posted by: Waterhouse at April 10, 2012 03:41 PM (6qptC)

62 How many stages of grief are there, and how long will it last?

Posted by: cherry at April 10, 2012 07:39 PM (OhYCU)

I imagine that when Romney hits the $2billion mark to tsunami-wave Obama over (between himself, his PACs, various superPACs, etc), they will skip right on by.

If his Death Star-level of destruction of his competitors is any indication, he wants this badly and will stop at nothing to get it. So at least there's that

Posted by: CAC at April 10, 2012 03:42 PM (S+zwo)

63 No buffet, no peas

Posted by: cherry at April 10, 2012 03:42 PM (OhYCU)

64 There are many physicians who no longer take any insurance. Their patients pay cash and then submit the bill for reimbursement. I have a doctor who does this and it works extremely well for him.

My dentist does the same. He says it saves him a ton of time, money, and hassle.

Posted by: Ghost of Lee Atwater at April 10, 2012 03:43 PM (E1JyF)

Buffet Rule:

Always

Chewing

Posted by: fluffy at April 10, 2012 03:44 PM (Qh1xX)

66 I think he is talking about going completely off the grid. All cash...no tax. Posted by: CharlieBrown'sDildo (NJConservative) at April 10, 2012 07:40 PM (nEUpB) Oh i f I only could.

Posted by: Nevergiveup at April 10, 2012 03:45 PM (i6RpT)

67 How did I do that?

Posted by: fluffy at April 10, 2012 03:48 PM (Qh1xX)

68 We are the 99.99999957%.

Posted by: sandy burger at April 10, 2012 03:48 PM (HfydS)

69 And again.

Posted by: fluffy at April 10, 2012 03:48 PM (4pSIn)

70 Math does not apply.
Econ 101 does not apply.
The Second Law of Thermodynamics does not apply.
The Laffer Curve does not apply.
Judicial review does not apply.
Congressional oversight does not apply.
History does not apply.

Imagine it all in Spanish and Hugo Chavez springs to life.

Posted by: Circa (Insert Year Here) at April 10, 2012 03:48 PM (7utQ2)

71 maybe he could begin with some honesty. And some math.

Comic genius sir!

Posted by: DaveA at April 10, 2012 03:50 PM (onSRg)

72 Remember that guy that Obama promised a job? The one who he couldn't believe couldn't find a job here in hope n change land? Well , guess what? OBAMA HIMSELF COULDN'T FIND THIS GUY A JOB.

http://tinyurl.com/6rvor9u

Posted by: dagny at April 10, 2012 03:50 PM (CMM9V)

73 pay attention dummies and learn some economic

a secretary of a really rich guy doesnt not make as much

as the guy she working for you have to be a idiot if you

didnt not know that but the rich guy pay less taxes

loop holes and accounting but what about america

fariness and equalty for all color and gays mexicans blacks ect

may be you retards shuold by a calculator some time

#JusticeForBravell

Posted by: Jose Canseco's Gristle Encased Head at April 10, 2012 03:50 PM (+lsX1)

74 My dentist does the same. He says it saves him a ton of time, money, and hassle.

The Under Secretary of Health and Human Services for Making You Do Nonsensical Shit and a staff of 5,000 dedicated public servants will soon put a top to this war on women.

Posted by: Circa (Insert Year Here) at April 10, 2012 03:52 PM (7utQ2)

75 Posted by: Nevergiveup at April 10, 2012 07:45 PM (i6RpT)

I'll bet that if you ran the numbers at the same income (obviously not taxable), you could go underground and you wouldn't have to charge your patients anything more than what they pay now in premiums and deductibles and co-pays and all that shit.

Posted by: CharlieBrown'sDildo (NJConservative) at April 10, 2012 03:52 PM (nEUpB)

76 There should be a Buffett Tax on people who pay for one person, but feed their whole table from the Buffett!

Posted by: Deli LLama at April 10, 2012 03:52 PM (uv9eO)

77 Jose has spoken. I have be humbled.

Posted by: Soona at April 10, 2012 03:53 PM (OvdJX)

78 well, one of the good things about being an autocrat is that you get to decide who doesn't pay enough taxes. Some may recall that the 1993 Clinton/Dem tax hikes affected some people who owned homes and made as little as $20,000 a year.

Posted by: mallfly at April 10, 2012 04:01 PM (bJm7W)

79 This is getting pretty close to a Bill of Attainder, isn't it?

Posted by: toby928© at April 10, 2012 04:03 PM (GTbGH)

I have a topic for a possibly interesting thread.

Who and how do I contact the powers that be here?

Posted by: seamrog at April 10, 2012 04:04 PM (yy2lk)

81 Ouch! Head hurts. Just did math.

Congress Millionaires = 261

Obama's Cabinet Millionaires = 8

Count in Barackie & Michelle = 2

Total 271 Millionaires. Take 271 from the 400 = leaves only 129 to tax!

Posted by: Deli LLama at April 10, 2012 04:05 PM (uv9eO)

82 aceofspadeshqATgmailDOTcom;

Posted by: toby928© at April 10, 2012 04:05 PM (GTbGH)

83 13 I keep waiting for at least one pol to say something about the failed AMT we already have. Why is everyone ignoring the elephant on the couch?

Posted by: Vic at April 10, 2012 07:25 PM (YdQQY)

I think yu needs ta Chek Yo' Self....

Posted by: Elephant in the Room at April 10, 2012 04:10 PM (6c7LS)

84 It's theft. pure and simple. Plus -get fucktard Warren Buffet to pony up. alone, back taxes and then some. fucker.

Posted by: rectal exam at April 10, 2012 04:10 PM (O7ksG)

85 And if they have tax rates less than 15%, that means they hold massive amounts of tax-free state and municipal bonds... So when they lose that tax-advantage and stop buying, Blue States will be hit the hardest ...

It's easy to tell a vast majority of libs never had second-year calculus...

Posted by: phreshone at April 10, 2012 04:14 PM (KtT0H)

86 Posted by: Deli LLama at April 10, 2012 08:05 PM (uv9eO)

millionaire =/= top 400 income in America

Posted by: wooga at April 10, 2012 04:14 PM (vjyZP)

87 As W said earlier, it might help it folks stopped referring to it as the "Bush" tax cuts.

Posted by: Niedermeyer's Dead Horse at April 10, 2012 04:26 PM (piMMO)

88 This is getting pretty close to a Bill of Attainder, isn't it?

Posted by: toby928Â© at April 10, 2012 08:03 PM (GTbGH)

It is. Why should it be different than the rest of the progressive tax system?

Posted by: ThePrimordialOrderedPair at April 10, 2012 04:29 PM (X3lox)

89 If we executed the top 400 and confiscated everything cent they had, it still is just a drop in a bucket.

Posted by: Purple Avenger at April 10, 2012 04:44 PM (emWXx)

90 Thanks Toby928 @82

Posted by: seamrog at April 10, 2012 04:46 PM (yy2lk)

91 "Some may recall that the 1993 Clinton/Dem tax hikes affected some people who owned homes and made as little as $20,000 a year."

Well, if they make $20,000 a year for 50 years, they're millionaires!

Posted by: Algore at April 10, 2012 04:53 PM (x2CNJ)

92 Damn this country is screwed. The amount of debt is beyond what we can recover from and we are buying uncounted 100's of billions of euros to try and save their sorry-assed liberalism from collapsing around their ears. I think I need a beer.

Posted by: middle-america at April 10, 2012 05:15 PM (9RLv5)

93 Vic- I agree with you and have been wondering about this for days. How is the so-called Buffett Rule different from the AMT? Is it supposed to be imposed in addition to the AMT or replace it? It makes no sense to me that no one has raised the AMT in this discussion. Here's an interesting piece of history re: the origins of the AMT- sound familiar? "In August 1969 as he was preparing the next year's budget, (Treasury Sec. Joseph) Barr warned that the country faced a taxpayers' revolt. He explained, according to the Washington Post, that in 1967 there were a total of 155 individuals with incomes over $200,000 who did not pay any federal income taxes; twenty of them were millionaires. These individuals successfully used all tax loopholes available to legally evade paying taxes. The revelation attracted wide media attention and led to public shock." Of course, in the present case, we know who's trying to foment the revolt.

Posted by: Moonbeam at April 10, 2012 07:34 PM (1k4dd)

94 If you believe the Buffet Rule will balance the budget, I've got a solar panel plant to sell. you.

Posted by: mutantman at April 10, 2012 09:28 PM (VPhv9)

95 The buffet rule don't actually tax buffet. Funny how it work. If you want to tax buffet, increase corporate taxes, not individual taxes

Posted by: oic at April 11, 2012 02:33 AM (XCKXL)

96 You know, we should just let the left win on this and say, anyone who have more than 30 billion asset get 90% tax. Which mean, only 2 liberals get hit

Posted by: oic at April 11, 2012 02:35 AM (XCKXL)

97 Can we all just start calling this "OBAMA'S DOUBLE TAXATION PLAN". Look, he wants to tax your income twice. I think people will get that because it fits with their image of Obama as a big spender and big taxer.

It's a stupid rule for a number of reasons, but if we get lost in the details I think he gets a free ride on this. The polls keep showing the "Buffet Rule" is popular. I bet the "Double Taxation Plan" isn't popular.

By the way, what if you get income, pay income taxes, then get capital gains and use that income to get more capital gains. Isn't that Triple Taxation. I don't think is Double, Triple, and Quadruple taxation plans will be that popular when people call them what they are.

Posted by: Dave at April 11, 2012 02:24 PM (OMNfZ)

Hide Comments | Add Comment | Refresh | Top

Comments are disabled. Post is locked.

112kb generated in CPU 0.054, elapsed 0.294 seconds.
64 queries taking 0.2673 seconds, 225 records returned.
Powered by Minx 1.1.6c-pink.