Wow. We’re a long way from the presidential election in November 2012, but there sure is some great political reality TV available already. Yesterday the Prez was campaigning in Silicon Valley, and he took a question from a guy in the audience who said he was “unemployed by choice” after cashing out from a job at Google. He asked the Prez:”…would you please raise my taxes?”
OK. I understand that this is good election politics. It’s a populist wet dream come true to tax the millionaires and billionaires. But is it really sound economic policy — something that will really make a difference in solving the big problems we face involving jobs, government spending and our national debt?
Here’s another billionaire, Mike Bloomberg, who opines that the so-called Buffett Rule is just “theatrics.” Here’s from Mediaite.com:
On the whole actually, Bloomberg wasn’t too negative towards the President. In fact, his comments that Obama had “tried some things he liked and some things he didn’t” for the economy weren’t too different from his comments on Christie. However, the Mayor made it clear that one of the things he didn’t like was raising taxes on the rich.
“I think it’s not fair to say that wealthy people don’t pay their fair share. They pay a much higher percentage of their income, they have a higher rate than people who make less. The Buffett thing is just theatrics. If Warren Buffett made his money from ordinary income rather than capital gains, his tax rate would be a lot higher than his secretary’s.”
Wonder if the asshat who asked the Prez yesterday to please raise his taxes paid taxes on ordinary income or on the appreciation on stock options from Goggle? I digress.
I also heard on TV while chasing the treadmill this early a.m. that it is possible just to send a check — a voluntary contribution — to the IRS. Apparently not that many millionaires feel that guilty about their current taxes to make a voluntary contribution. At least I can’t find out via a Google search how to do it. Hey, the guy who wants his taxes raised. He was a Google exec. Maybe he can find it. Oops. I digress again.
And I reprinted info from an AP story last week that shows that the Buffett Rule doesn’t really add up to much — beyond politics.
Anyway, if you are interested in more on this LOL story, check out Michelle Malkin’s blog. She has plenty of commentary and links to other information.
And I didn’t check but she may even have a link to where we can get discount barf bags. With the national campaign just starting, we may need them.