The “Buffet Rule” is the “flat tax”!
The “flat tax” system, so often called for by republicans, is now being promoted under a new flag by president Obama titled the “Buffet Rule”.
The Buffet Rule will require taxpayers making over one million dollars to pay the same percentage of income as as the rest of us working folks. Which means the millionaires will pay the same as everyone else – otherwise called a “flat tax”.
Most of our readers were “A” students in high school. So they know what that means. If you were a “C” student or didn’t pay attention to percentages, then let me explain.
It means that the wealthy will pay more.
If your tax rate is 50-percent and you make $10,000 dollars – then you pay $5,000 dollars.
If Mr. Buffet’s tax is 50-percent and he makes $100,000 – then he will pay $50,000 dollars.
That is a flat tax.
The funny thing (sick, really) is that republicans have long sought a flat tax. And democrats have resisted it calling it “regressive”.
Now, republicans are bad-mouthing President Obama’s “Buffet Rule”.
So, basically, democrats are now promoting a flat tax and republicans don’t like it.
What a twisted world politics makes.
The United States of America Corporation in Distress
“The business of business” – a phrase often used to describe the United States economy, is in distress. When viewed as a business model, the United States of America Corporation has lost it’s sterling reputation and become a model for centralized government and political welfare.
The CEO (President Obama) lacks any real power and seems to have lost his eloquent persuasive powers. This is because he truely does not have any answers nor know what action to take.
The Board of Directors (the US Congress) continues to act like a committee of neighborhood old ladies intent on getting their own piece of pie (goodies for their home constituents).
The downward economic direction is not today’s problem. . .it’s been a product of US government for many decades. “Ask not what your country can do for you, ask what you can do for your country” spoken by President John Kennedy is long forgotten and in the minds of US Congress, is a laugh.
If Warren Buffet or Alan Mulally were the US President and the heads of the Federal Reserve were the US Congress, then the US Shareholders (the American public) would have jobs and a solid economy.
But I must be dreaming.
See also: http://www.federalreserve.gov/
Congress Earns a Credit Downgrade for US
The credit rating agency Standard and Poor’s downgraded the US from a triple AAA rating to AA+ rating yesterday evening.
Deservedly so, since Congress has acted like a drunk with a no-limit credit card. Many people are under the illusion that the President has the power to control all of this. But “Congress controls the purse strings” is a well-known and true adage.
The US Congress should act like a corporation’s board of directors and make decisions that are good for the overall health of the US. They don’t.
The Corporation of the United States is mismanaged.