Populism Gone Wrong
Last night, Warren Buffet’s secretary occupied a place of honor as an invited guest of the Obama’s to the State of the Union address. She got to sit with the First Lady, sort of like the Iraqi woman who was invited by Bush and showed off her ink stained finger for voting. So what exactly did Buffet’s secretary symbolize? The downtrodden middle class who somehow pay more taxes than billionaires like her boss Warren Buffet.
There is one glaring problem with Obama using Debbie Bosanek, Buffet’s secretary, as a prop for class warfare. As Paul Roderick Gregory with Forbes Magazine calculates, Buffet’s secretary makes at least $200,000 a year. Fortunately, she can still call herself part of the 99% because at $200,000 a year, she only made the top 3% of income earners, not the top 1%.
But here is the best part: Obamacare raises taxes on individuals making more than $200,000. Because of Obamacare, starting next year Warren Buffet’s secretary will pay an additional 3.8% on investment income, and an additional .9% in Medicare taxes for a total tax hike of 4.7%. And if Obama gets his way and the Bush tax rates are eliminated for individuals who make more than $200,000, Obama will have effectively raised Buffet’s secretary’s taxes by 7.7%, or possibly as much as 9.6% if she is in the highest tax bracket.
Good job, Mr. President. Thank you for that ever-so-perfect State of the Union prop.
Speaking of Buffet
In case you were wondering why Obama canceled the Keystone pipeline, a move the Washington Post called “insanity”, we may get some clues by following the money. According to Bloomberg, Obama supporter Warren Buffet stands to profit big time from cancellation of the pipeline. Buffet’s Berkshire Hathaway owns the rail companies who will transport the oil in lieu of a pipeline. Crony capitalism at its best, at the cost of thousands of American jobs. Oh yeah, and for you environmentalists who opposed the pipeline, what sort of impact do you think transporting that oil on trains will have on the environment? Maybe you should re-think this one.
Jacksonville TEA Party Straw Poll Picks Newt
In the first ever Angie’s Subs Caucus, TEA Party members from across the Northeast gathered at Angie’s Subs in Jacksonville, Florida to discuss local and national politics and have a straw poll. 323 votes were cast and the winner was Newt with 138 votes, or 43%. Second place? Ron Paul, gaining 26% of the vote. Romney finished third.
Thursday, Jacksonville will be hosting the last debate before voters in this key state hold their primary. Recent polls have wavered back and forth with Newt erasing a double digit deficit to now have a slight lead in most polls.
Rubio Flexes Influence
Newt Gingrich pulled an add calling Mitt Romney “anti-immigrant” after Marco Rubio called out the ad as deceptive. What this shows is the incredible respect the current Republican godfathers have for the 2010 class. And this is well deserved. Marco Rubio, Alan West, Paul Ryan, Rand Paul, and a host of Republican governors including Scott Walker, Rick Scott, and others, represent the type of conservatism that the TEA Party loves, but that also resonates with Americans. Part of the reason the 2012 Presidential field has been disappointing for some is because the giants of 2012 pale in comparison to the greatness of the younger Republican generation.
Filed under: About the Candidates, Marco Rubio, Newt Gingrich, Paul Ryan, Polls, President Obama, Rand Paul, TEA Party | Tagged: 99%, alan west, angie's subs, anti-immigrant, berkshire hathaway, buffet's secretary, environment, florida, is buffet's secretary part of the 99%, jacksonville, keystone pipeline, Marco Rubio, mitt, Mitt Romney, newt pulls ad, newt wins tea party straw poll, occupy wall street, oil, Paul Ryan, pipeline, prop, rail, rick scott, Romney, rubio, rubio chides newt, scott walker, sotu, state of the union, tea, Tea Party, tea party straw poll, train, Warren Buffet |