President Obama and the Democratic Party have been working very hard on selling the Buffett Rule. They go from rally to rally trying to get people to support it. It has become their best idea. They even had the U.S. Senate vote on it this week.
Essentially the law would double dividend taxes on people earning over $1 million per year. All of this chatter is done in the name of fairness.
Let me get this straight. Our government currently runs a deficit of $1 trillion per year. At best, this silly scheme will only raise about $4 billion per year. That is a rounding error. Is this the best that they can do to solve our nation’s financial problems? Over the last few years they have spent over $800 billion on “cash for clunkers,” cash for bankrupt Solyndra and clowns for the General Services Administration. Now they are promoting taking even more money from hard-working families and businesses to continue this binge.
Our nation has a lot of problems. We have too many people out of work, a budget that is out of control and an infrastructure that is falling apart. Wouldn’t it be great if we had a president who was interested in solving problems?
The president’s campaign spent over $1 billion to win the chance to lead our country. If he and his party aren’t actually going to solve problems, perhaps it is time for them to exit. What an absolute disappointment this experience has been.