Priceless … Even Warren Buffett Does not Support Obama’s “Buffett” Rule



How disingenuous is President Barack Obama on jobs and the economy? Even billionaire Warren Buffett does not endorse Obama’s “Buffett Rule”. Buffett was not referring to individuals making $50 millions, he was referring to ultra-rich. As Buffett said, he was only referring to about 50,000 people … not Americans who make $250 K a year.  Heck, Buffett does not even think those that make $50 million a year are rich.

From Real Clear Politics:

CNBC: “Are you happy that the way it is being described. Is the program that the White House has presented a million dollars and over your program? ”

Warren Buffett: “Well, the precise program which will — I don’t know what their program will be. My program would be on the very high incomes that are taxed very low. Not just high incomes. Somebody making $50 million a year playing baseball, his taxes won’t change. Make $50 million a year appearing on television, his income won’t change. But, if they make a lot of money and pay a very low tax rate, like me, it would be changed by a minimum tax that would only bring them up to what other people pay.”

CNBC: “Does that mean you disagree with the president’s new jobs proposal which would be paid for by raising taxes on households with incomes of over $250,000.”

Buffett: “That’s another program that I won’t be discussing. My program is to have a tax on ultra-rich people who are very tax rates. Not just all rich people.

However, in typical fashion, Barack Obama has taken a plan form someone and “bastardized” it.  Because I always get $250,000 and $500,000,000 confused all of the time.  Buffett never intended to tax millionaires more, he was referring to a select group of ultra, ultra rich … but Obama never met a tax increase he didn’t like and looks to put indivuals who make $250 K in the same class as the uber-rich.

UPDATE I: This post was done after the Buffett fundraiser that is referenced in the above VIDEO. Needless to say the fundraiser was a bust and described as a disappointment.

If you liked this post, you may also like these:

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  • Barack Obama’s Secretary Paid Higher Tax Rate Than the One, But the Question Should Be Why … Also, Obama Does not Even Qualify for Buffet Rule
  • Warren Buffett Tells Congress To Raise Taxes On Wealthy … NO, STOP THE SPENDING!!!
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  • Comments

    One Response to “Priceless … Even Warren Buffett Does not Support Obama’s “Buffett” Rule”

    1. NGBoston on October 3rd, 2011 7:21 am

      Warren Buffet has long been known as someone who is uniquely and blatantly honest! Regardless of his wealth, his is a HUGE philantropist who gives millions upon millions away.

      He has invested wisely since being a College Graduate. He has literally built his wealth the old-fashioned way. For him to make the Statement that HE DOES NOT CONSIDER the EXTREMELY WEALTHY in his tax bracket to be shown any favoritisim (sp) gives just a bit of insight into what the MAJORITY of the Super-Rich do NOT think or feel.

      Not for anything, but when Buffett reserves comments (not usually) the silence alone speaks volumes. When he does not wish to comment at length on anything specific- it is like a death warrant. The Mass Social Media and Financial Markets pay close attention to this Man for good reason….he is very nearly never far off in his assessments and his foresight is excellent.

      Dissapointing showing @ Fundraiser? Hmnnnnnnnnnn…now what does that really mean for the big O?? He better get used to it for the remainder of this year and next Pre-Election. Pay attention to those in the Streets of NY and Boston the past few days PROTESTING about Corporate/Banking/Financial GREED, CORRUPTION and business as usual carrying on. Regular you and me Mr. & Ms. Citizen are speaking up, and actually getting arrested to stand up for what they believe in. In the days of joblessness, and even a Minimum Wage paying job (if you can find one) obtaining a CORI—that’s really saying something that everyday ordinary people are willing to have a little smudge on their record to show they actually stood up for something so significant in times like these !

      ROCK ON, WARREN and ROCK ON AMERICA! Our Founding Fathers would be proud!

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