Senator Sheldon Whitehouse (D-RI) is set to propose “The Buffett Rule”, a tax increase on everyone making more than a million dollars a year. The law named after Warren Buffett, the second richest person in the world, is also known as the “Paying a Fair Share Act.”
In his State of the Union address last week, President Obama used billionaire investor Warren Buffett's secretary, Debbie Bosanek, as a prop to illustrate the unfairness of our tax system. "Right now," he said as Bosanek sat near first lady Michelle Obama, "Warren Buffett pays a lower tax rate than his secretary."
Only a president long shielded from criticism and accountability could make the kind of State of the Union speech President Obama did Tuesday night. It's hard to know where to begin, given his repetition of tired ideas from his previous SOTUs, his taking credit for successful policies he resisted and omitting failed ones he promoted, his numerous misrepresentations on issues big and small, and his glaring refusal to address the main issues that threaten the nation.
There was very little that was really new in the president's agenda-setting State of the Union address to the nation Tuesday. Since when is it new when Barack Obama calls for higher taxes on our economy?
"I went in business to create jobs, create value, create opportunity for myself and my investors and that’s what the president should be praising," he said. Preach it.
It is clear from the way President Barack Obama has been talking about the federal budget recently, and about taxation since he came to office, that all the money that Americans earn belongs to the federal government.
President Obama and the Democrats are finally happy. Liberated from thoughts of compromise with Republicans, they can fully indulge their most lascivious pleasure -- trashing rich people.
"None of the changes I'm proposing are easy or politically convenient," President Obama noted from the Rose Garden on Monday. I've never seen a president less in a hurry to get things done -- or as quick to display his deep reservoir of self-pity.