Thursday, April 19, 2012

The Buffett Rule: The real war is on "rich" people...

and it's not going to end any time soon.

The other day on the radio, Dave Ramsey proceeded to gut the irresponsible Buffett rule and deconstruct the massive lies being told by this administration.  He requested that only callers who thought that the rich were not paying their fair share or who thought they should pay more to call in. 

What followed was some of the most bizarre, illogical, and just plain hateful calls I think I have ever heard.  Through it all, Dave remained calm and easily debunked all the felicitous claims being made.  No doubt the majority of the callers were part of the 47% who pay no federal taxes at all.

 The bottom line here is this:  if you take away every cent the so-called rich have, it isn't going to change anyone's life one iota.  I'm not suddenly going to acquire a larger house, a yacht, or a Porsche because I confiscated your money.   And that, dear readers, is the basis for socialism.  I think I don't have enough, so I'm going to take away yours so that we may both be equally miserable. 

Which brings me to another point.  Let's talk about property taxes.  I bumped into a real estate listing for a house on Lake of the Isles Blvd. in Minneapolis.  The yearly taxes were 75K.  Yep, you read that right.  So a person who works hard and buys a big fancy house is further penalized by a tax system that says he has to pay according to the "value" of his house.   Since property taxes are the major funding for our failing public schools, are we to assume that this guy has a couple hundred kids in the local school?  Of course not.  But the whiners of this world, who decry the rich not paying their fair share, are overlooking the other ways the rich get hammered.

This whole "attack the rich" thing going on is nothing more than old-fashioned envy and greed which are a couple of the nastiest faults a person can harbor.

Dave has posted the entire show on his website.  It's split up into a number of segments and you can play it in the background while you work. 


Country Thinker does a great job of dismantling the Buffet rule and predicts:
But don’t expect the Buf­fett Rule to go away any time soon, because Obama is mak­ing it a cen­ter­piece of his House-​​divided class war­fare reelec­tion cam­paign. And like many of his pol­icy posi­tions, he is defend­ing the Buf­fett Rule with untruths, mis­rep­re­sen­ta­tions, and a whole lot of mis­guided eco­nomic thinking.
Read it all:

Obama and the Silly Buffett Rule


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