the ‘buffett rule’ ….. genius

NYT: President Obama on Monday will call for a new minimum tax rate for individuals making more than $1 million a year to ensure that they pay at least the same percentage of their earnings as middle-income taxpayers, according to administration officials.

…. the proposal adds a new and populist feature to Mr. Obama’s effort to raise the political pressure on Republicans to agree to higher revenues from the wealthy in return for Democrats’ support of future cuts from Medicare and Medicaid.

Mr. Obama, in a bit of political salesmanship, will call his proposal the “Buffett Rule”, in a reference to Warren E. Buffett, the billionaire investor who has complained repeatedly that the richest Americans generally pay a smaller share of their income in federal taxes than do middle-income workers, because investment gains are taxed at a lower rate than wages.

… The Obama proposal has little chance of becoming law unless Republican lawmakers bend. But by focusing on the wealthiest Americans, the president is sharpening the contrast between Republicans and Democrats with a theme he can carry into his bid for re-election in 2012.

It could also reassure Democrats who have feared that Mr. Obama would agree to changes in programs like Medicare without forcing Republicans to compromise on taxes.

Full article here

19 Responses to “the ‘buffett rule’ ….. genius”

    • 2 jacquelineoboomer
      September 17, 2011 at 9:33 pm

      Wow – guess these are ’08 videos – the media blackout’s been going on forevah. Just change the topic but everything else stays the same.

  1. September 17, 2011 at 9:13 pm

    For TODer’s on the West Coast, PBS is showing last year’s Performance at the White House celebrating Latino Heritage Month. So much fun!!

  2. 4 GGail
    September 17, 2011 at 9:15 pm

    Boy oh Boy, that Mr. President Barack Obama is one SMART cookie. Look out GOP, he’s in fighting mode!

    • September 17, 2011 at 9:20 pm

      Brilliant, he is!!

      And yet we have a Washington Post story on twitter about Cornel West and Ralph Nader teaming up and looking for six people to primary PBO. These people have lost their ever-loving minds.

      • 6 EDP4BHO
        September 17, 2011 at 9:29 pm

        Just looking at the two of them, they look like roving maniacs, and that’s exactly what they are. Give them a couple of lab coats, and you’d think you were watching a Frankenstein movie, except we have to decide which is the monster.

      • 8 utaustinliberal
        September 17, 2011 at 9:37 pm

        Cornel West and Ralph Nader need to take some meds, wake up to the real world and realize they are 100% irrelevant.

        Genius move by President Obama to label the new rule “the buffett rule.” Methinks Mr. Buffett might get a chuckle or two out of this.

        • September 17, 2011 at 9:49 pm

          But Cornell West has a PhD(Piled High & Deep) and uses big words. 😆

          • 10 Anonymous
            September 18, 2011 at 1:50 pm

            And was an elder in Zion on the Matrix!
            Beyond his desire to see his name in lights and misreading Marx to a generation of privileged Ivy League students, there is really nothing he has done with his life.

            • September 18, 2011 at 1:53 pm

              Hi Anon, thanks so much for the comments. Would you mind choosing a name – any name at all – when you post a comment, just so everyone knows who’s who? Thanks 😉

    • September 17, 2011 at 9:48 pm

      I love the name of it too, the Buffet rule. Hard to yell Soshalizzum with a freaking billionaires name on it. I said hard, not impossible. Look how they attack George Soros.

  3. September 17, 2011 at 9:59 pm


    People are going to have to give this man credit for slow-walking the nation to sanity re: taxes on the rich. The whole language around this issue has changed, and the people are ahead of the politicians on this one. It didn’t even take PBO long to turn the tide. Now practically everybody agrees that the richest people and the richest corporations should pay more in taxes. Norquist and his buddies are on the losing end — nobody brags about taking his damn pledge anymore, and Luntz approved “job creators” is becoming an epithet.

    Now it’s all about “shared sacrifice.” Genius indeed. :mrgreen:

    • 15 theo67
      September 18, 2011 at 1:22 am

      I totally agree with you. I’ve seen a few people on Twitter discussing this, too.The President has quietly and calmly changed the language on taxes, and people are now talking about “fair share”, “shared sacrifice” and other easy catch phrases to symbolize that times are changing. Excellent!

  4. 16 HZ
    September 18, 2011 at 2:45 am

    Love my brilliant President.HZ

  5. 18 Anonymous
    September 18, 2011 at 1:33 pm

    As a white guy myownself, is it okay if I observe that Ralph Nader is the favorite candidate of self-hating Whites?

    I have absolutely no use for this guy, a one time protest vote that now stands as thorn to anything that looks like actual progress towards a just society. A self-promoting obtuse little man who is proud of his ability to keep greater men from getting elected President. But my special venom is saved for those who would entertain the notion of supporting anything he has to say on any political subject after his role in handing the White House to the GOP in 2000. Nader does not care about the poor, the workers or anyone else. His only achievements since the 1980s have been to saddle us with right wing government. Now who is the tool for corporate America? Any supporters of Nader have my immediate disrespect. They are the Tea Party of the Left.

  6. 19 Anonymous
    September 18, 2011 at 1:34 pm

    Its almost as if this Barack Obama fellow knows what he’s doing.

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