Romney needs to call Obama’s Bluffet….

 

We know that the Bluffet, sorry Buffet, rule is a motif for President’s class warfare, and more warning shots will be fired when Congress returns today from a two-week recess to a test vote on the rule, which would impose a minimum 30 percent tax rate on income over $1 million. The Bluffett tax targets wealthier Americans’ investments rather than salaries.

Today is the day when this issue of class warfare kicks off for November in earnest, now that we know it will be Romney for the GOP and Congress gets to have a say on the matter.

President Obama, who pays less tax than HIS secretary (he filed tax returns showing he paid an effective tax rate of 20.5 percent on income of about $800,000 in 2011) says the government needs the revenue from the Bluffett rule, estimated at $47 billion over 10 years, to cover “a broad range of goals.” He also says “This is not just about fairness.” Well, he got that right, it is very unfair, but not in the simplistic moralistic way he is peddling.

He says “This is also about growth. It’s about being able to make the investments we need to strengthen our economy and create jobs. And it’s about whether we as a country are willing to pay for those investments.” In other words, robbing Peter to pay Paul.

Fact is, do we really need government to do the investing, and where does the investment go? Into government black holes and deep pockets, rather than into businesses which create wealth. The Bluffet tax would not create wealth, it would merely enhance dependency. We would see a better rate of return on the $47 billion in business investment by the wealthy than we would from government. That is an awful lot of liquidity to take out of the markets, and I don’t see too many secretaries taking up the slack.

Of course, keeper of the Treasury keys Tim Geithner was out pushing the rule on Sunday, “Just because Republicans oppose this does not mean it’s not the right thing to do and not the right thing to push for,” he told NBC’s “Meet the Press” program. Double negatives aside, we can say that just because Democrats think it is the right thing to do doesn’t mean it even begins to make sense.

If we look at the paying side of this, we see the rich targeted for this end up paying more. Simple. But for what are they paying? Increased revenue means increased expenditure, and so the things for government to spend on expands to meet the expanded revenue. More programs, more dependency and less reward for effort. What does the payer get in return? They get little benefit, and the wealthier they are the less they need what they are paying for.

Which means the sole purpose of the Bluffet rule is twofold, increased state powers and redistribution of wealth. Conservatives who attack Romney or the rich for their wealth are playing with the same deck as Obama.

Obama says, “If you make more than $1 million every year, you should pay at least the same percentage of your income in taxes as middle-class families do… Most Americans support this idea. We just need some Republican politicians to get on board with where the country is.” Of course, Obama doesn’t have to worry too much about his investments, because after leaving office, which cannot come soon enough, he will make a ton of cash for the remainder of his days. He doesn’t have too much to worry about…The rest of us do.

Trunkline 2012: Saturday Political News in Review and the Cinema Politico Movie of the Week 11/12/11

Bookmark and Share  Saturdays edition of  Trunkline 2012 reveals where to watch tonight’s debate, photo of Rick Perry’s debate preparation, Buddy Roemer’s bitter twitter, the California Supreme Court’s ruling for Mexican flag and against our American flag, Newtmentum, the Obama Administration’s praise of Jon Corzine’s economic expertise,  the guest lineup and topics of this Sunday’s morning news programs, this week’s Cinema Politico Saturday night movie feature, and as always, more.

  • Watch tonight’s CBS/National Journal Republican presidential debate on foreign policy live here, starting at 8:00 PM ET
  • Hours before the CBS/ National Journal foreign policy debate and Rick Perry Tweets: “Debate prep in Spartanburg, SC !! “http://t.co/uwdY27IN
  • A frustrated and inconsequential Buddy Roemer tweets I’ve decided to go to the movies tonight instead of tweeting the debate. Less BS.”  Aren’t we bitter? Maybe he should join OWS protesters and watch the debate with them.
  • Some Advice for Newt Gingrich from White House 2012
  • Turning an elephant into a Newt?   Newtmentum kicks in!
  • 10 character assassination attempts by liberals
  • NPR runs nasty hit piece on Herman Cain
  • Cain: I wouldn’t be Romney’s VP — but I’d consider being his secretary of defense
  • Ironic Flashback, 2009: Biden touts Jon Corzine as economic go-to guy for Team Obama
  • If this doesn’t piss you off, nothing will: California Students: Court Rules Mexican Flag Okay on May 5th – American Flag Not Okay on May 5th 
  • With Debt There is No DemocracySunday Morning Political News Program Guest lineup:

ABC’s “This WeekRoundtables on politics and Iran.   NBC’s “Meet the Press” 2012 GOP presidential candidate Michele Bachmann; Florida Rep. Debbie Wasserman Schultz, head of the Democratic National Committee.   CBS’ “Face the Nation” 2012 GOP presidential candidate Jon Huntsman; Sen. Lindsey Graham, R-S.C.; Govs. Martin O’Malley, D-Md., and Haley Barbour, R-Miss.   CNN’s “State of the Union” Rep. Jeb Hensarling, R-Texas; Sens. Mark Warner, D-Va., and Tom Coburn, R-Okla.; Republican National Committee chairman Reince Priebus; Los Angeles Mayor Antonio Villaraigosa “Fox News Sunday” Sen. Pat Toomey, R-Pa.; Rep. James Clyburn, D-S.C.; Gov. Tom Corbett, R-Pa.; Penn State student body President T.J. Bard; former Penn State and Pittsburgh Steelers running back Franco Harris.

W takes viewers through Bush’s eventful life — his struggles and triumphs, how he found both his wife and his faith, and of course the critical days leading up to Bush’s decision to invade Iraq.  Oliver Stone’s biographical take on the life of George W. Bush, chronicles a liberal view of  George W. Bush’s life from his wild and carefree days in college, to his military service, to his governorship of Texas and role in the oil business, his 2000 candidacy for president, his first turbulent four years, and his 2004 re-election campaign.

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W. - on Hulu (You need to register with Hulu to see the movie. Registration is quick, free, and easy)

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