Posted by
ApolloSpeaks on Tuesday, January 24, 2012 3:13:22 PM
Tonight at the State of the Union we will see a failing, lying, economic illiterate in a collapsing, isolated presidency desperate for reelection laughably putting on a deceitful smoke and mirrors show with Warren Buffet's secretary to underscore the unfairness of our tax system and how it favors the 1% superrich over everyone else. Buffet's secretary pays a 35% income tax on a 1040 tax form; while Buffet pays 15% on capital gains (his only source of income) using a 1099 DIV form. If invested in the market Buffet's secretary would pay the same 15% as her boss; Obama invited Buffet's secretary to tonight's event solely to fool the ignorant who don't know this-i.e, to stir up the anger of those who never played the market against the greedy rich (and their GOP guardians) who, like Buffet, only pay 15% while they pay more. But unfortunately for Obama and his class warfare populism the vast majority of taxpayers are either currently invested in the market or have been in the past; they can't be fooled by this demagogic trickery. Indeed, in 2002 investment in the market reached an all time high of 67% of the public; now it's down to 53% (see). What these statistics tell us is that more than 2/3rds of the country know the difference between a 1040 and a 1099 DIV for capital gains. With good reason Maureen Dowd recently wrote that Obama "lives within a bubble inside a bubble," and is out of touch with reality. With good reason John Boehner said that tonight's speech will be "pathetic" and inconsequential, as it will offer no real solutions for economic renewal, and do nothing to advance Obama's quest for a second term. This will be Obama's last State of the Union speech, and it will be his poorest. By the way, irony of ironies, today is Obama's 1099th day in office.
Also see
BARACK OBAMA, THE BUFFETT RULE AND TAX HIKE HEAVEN
Major websites linking this piece were as follows (click anjd see):