Mayor Mike Bloomberg rips Buffett Rule, says rich pay more than their fair share

I remember when Barack Obama was first inaugurated, a well known presidential historian said on the Imus in the Morning radio show that Obama’s I.Q. was off the charts. When Imus challenged the historian to answer how high his I.Q. was, the historian could only say he was pretty smart.

Nearly 3 years into his presidency I think it’s safe to say that Obama doesn’t know much about economics, the green energy industry (see the Solyndra scandal), nor does he know much about our progressive tax system which by design dictates that the more money one makes the more taxes they have to pay.

However, this doesn’t prevent Obama from continuously repeating that the rich need to pay their fair share even though this flies in the face of the truth. So either Obama doesn’t understand how our tax system works or he thinks the American people are gullible to believe everything he says without fact checking him. We can thank the Associate Press for setting the record straight and basically calling the president a liar.


New York Post

Mayor Mike won't be joining the Buffett bandwagon.
Bloomberg, speaking this morning on "Meet the Press," blasted billionaire investor Warren Buffett's call for the super-rich to pay more in taxes as political gamesmanship, and insisted any tax increases must be levelled on everyone.

"The Warren Buffett thing, that's just theatrics," the mayor said. "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.

"In fact a very small percentage of people in this country pay a big chunk of the taxes."

More here

This wasn’t the first time Obama was caught lying to the American people. Remember, “If you like your doctor, you can keep him.” If ObamCare isn’t repelled millions of Americans will be in for a very rude surprise when their employer drops their health insurance coverage because of increased costs and people are forced into the public plan. That bomb hasn’t gone off yet, but it’s still ticking.


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