The Buffett Tax: What a Bad Idea

Forbes   Thanks a lot, Warren!
"It’s said that tomorrow President Obama will suggest a “Buffett Tax”. A provision in the tax code that makes sure that billionaires like Warren Buffett don’t end up paying lower average tax rates then their secretaries."

Thanks, Warren!

“President Barack Obama, in a populist gesture designed to appeal to voters, will propose a “Buffett Tax” on people making more than $1 million a year as part of his deficit recommendations to Congress on Monday.

...."The standard economics of taxation says that you desire lower taxation of the returns to capital precisely because you’d like people to be investing capital."

Warren Buffett’s Tax Hypocrisy  "But if he were truly sincere, perhaps he might simply try paying the taxes the IRS says his company owes? According to Berkshire Hathaway’s own annual report — see Note 15 on pp. 54-56 — the company has been in a years-long dispute over its federal tax bills."

Factbox: What's on Obama's tax list, besides "Buffett tax"?  "President Barack Obama is expected to make a raft of recommendations for changing tax law on Monday, in addition to his new proposed tax on the rich -- known as the "Buffett tax" after billionaire Warren Buffett -- which was disclosed on Saturday."

Millionaires and billionaires pay a higher share of their income in taxes than the middle class.. "The reason for the light capital gains and dividend tax is that corporations pay up to a 35% tax on their profits before a dime of it is passed on to shareholders. The real tax rate on corporate income paid to individuals through capital gains and dividends is not 15%. It is closer to 45% once you count the tax on corporate profits. If the dividend tax rises to 20% next year from 15% today, then the total tax on dividends paid to shareholders would be closer to 50%, and that doesn't include state and local taxes."

http://www.worldmag.com/editorialcartoons/

‘An Especially Amateurish Example of Media Bias’ from CNN

Newsbusters  " “The Republican Party is split right down the middle between Tea Party movement supporters and those who do not support the two-and-a-half-year-old movement, according to a new national survey,” a Thursday CNN.com “Political Ticker” post asserted in recounting the findings of a CNN/ORC poll which were cited on air by both Wolf Blitzer and John King."....

"In his “Best of the Web Today” compilation on Friday for the Wall Street Journal online, James Taranto wondered: “See the problem?” He explained:

They’re arbitrarily lumping voters who are neutral about the Tea Party with opponents in order to swell the latter’s numbers. One could just as easily write: “An overwhelming 74% of Republicans and GOP-leaning independents either support the Tea Party movement or have no feelings one way or another. Just 26% oppose it.”

(UPDATED) Top 10 attacks reported To Attack Watch as of Sunday, Sept 18th

Update: Groucho Marx Saves America  "Do the Stasi wannabes that write Obama's copy really think this invitation will win us over? "Join Attack Wire - and help stop the attacks on the President before they start."
"Before they start! Hey, comrades, is your wife muttering Rick Perry's name in her sleep? Does Grandma secretly watch Glenn Beck? Report your loved ones' pre-crimes to federal authorities now! A few friendly adjustments with a fist, and we guarantee we'll stop those deviant, anti-Obama attacks, "before they start." Help us, comrades!"

Actually, we have a buffet of fun tweets for your reading pleasure. If you think these are funny, what do you suppose the really, really serious ones are like? TD

OldHippie.com

RightWingNews.com

Beltway Confidential

Here, look 'em up for yourself. 
I only wish, however that it were* possible for me to remove any and all references to race or to personal attacks on the Obama family if there is any to be found. The left specializes in hate speech and I'd like to see their sites being the only places to find that kind of garbage.  (*"was"?)  TD

John Fund: What if a committee of prominent Dems approached Obama and asked him not to run?

Hot Air  "Note that [John] Fund’s not talking about a primary challenge here; that would alienate black Democrats and the party would fracture before the general election, so it’s not an option. The only way to dump him and hold the base together would be if he agreed to step down after Democratic chieftains privately appealed to him to do so."....

"Exit question: Would this “voluntary” refusal to run again really prevent a Democratic schism? Some black Democrats would surely conclude that it wasn’t as voluntary as it seemed. And they’d be right."

ChiTrib editor: Say, maybe it’s time for Obama to withdraw from 2012  "It’s one thing for John Fund, Allahpundit, or me to speculate on whether Barack Obama will bother running for a second term.  It’s another when one of the editors of a home-town newspaper tells a President to pull out.  Stephen Chapman of the Chicago Tribune’s editorial board writes in today’s paper that it’s time for the battered champ to hang ‘em up:"

The fear factor

Powerline  "So you have to wonder about the audacity of Ford in producing the Drive One ad featuring F-150 pickup truck buyer Chris.  Hasn’t Ford got the memo? Steve Hayward comments on my post on the Drive One ad: “The really interesting thing to me is that Ford and/or its ad agency apparently have no fear of offending Obama or Washington, and no concern that it will alienate enough potential customers with this ad. Normally a consumer products company would never come within a country mile of this kind of ad.
That alone makes this a significant indicator of where public opinion is trending.” "  More here.

What emails might be going back and forth between the Obama administration and Ford that may yet lead to a Ford "clarification"? TD

"I owe those unions ... When their leaders call, I do my best to call them back right away" Barack Obama

On The Edge  "The meeting with the joint session of Congress was nothing more than a re-election campaign speech. I’m sure he saw the Republican debates on Wednesday and was not happy with what he heard. One thing about the Republicans they are all united to dump Obama out of office. If there was a debate between Obama, and either, Romney, Perry or Bachman, they would take Obama to the Out-House and stick him in the hole. He has zero knowledge on Foreign Relations, Economy, Military, Defense and life in general."  Bill Pyatt, Hawthorne, NV (right)

Children’s Programming Not So Innocent Anymore

Big Hollywood  "Parents should not have to be on guard concerning children’s programming. They should be able to feel comfortable about leaving their kids in front of the TV for thirty minutes. I want to commend a couple of shows that, in my opinion, give them that. Even though many times they follow the recipe of talking louder than the last person who spoke, shows like Good Luck Charlie, So Random and Spongebob Squarepants give parents that level of security. At least for now.

"We all have to be aware. Turn it off it you deem it wrong for your family. Don’t just accept it. Demand better. Support the good stuff. Let the producers know what matters to you. And, if this doesn’t matter to you… it should."

We do not have to give our children a reason for turning off the TV; they should have a good reason to turn it on. TD

Family Guide to Prime Time Television  "The Parents Television Council Is Working to Help You and Your Family Make Better Viewing Decisions.... What's on TV for Your Family Tonight?"

Christian sites for movies and television:
ChristianAnswers.net  For movies.
For television:   "Ranking the best and worst programs / Providing help for controlling your children's viewing / Easy-to-use ratings include links to comments from Christian viewers."
Movieguide
PluggedIn Online  TV reviews
The Fish  "A Christian look at pop culture"
Crosswalk.com  Reviews movies.
And in case you need it, here is a review of games

This is a partial list, but an excellent one, we feel.

Anatomy of a White(House)Wash

Tony Katz  "Yes, the Bush administration did look at these loans, and wanted to make the loans.  And why wouldn’t they?  Back to my earlier statement, we all want these technologies to work (though a conversation should exist as to whether or not government should subsidize any business).  In the case of Solyndra, the company didn’t work.  The Bush Administration received numerous warnings and made the prudent decision to back off the loans. "

The above is counterpoint to this statement (below) made by Sally Kohn.  "Typical of a smear (where is our AttackWatch?) Kohn states:"

The Bush administration initiated loans to Solyndra – and tried to push them through before Obama was inaugurated.

Latest e-rumor: 1% tax on all bank transactions HR4646

"This is a 1% tax on all transactions at any financial institution - banks, credit unions, savings and loans, etc. Any deposit you make, or even a transfer within your account, will have a 1% tax charged.
"~If your paycheck or your social security or whatever is direct deposit, it will get a 1% tax charged for the transaction.'
Snopes has this:

From Peter DeFazio: Learn the Truth about H.R. 4646

Chakka Fattah

This is email is false. I do not support and have never supported this legislation. H.R. 4646 was introduced in 2010 by Rep. Chaka Fattah  (pictured at right) of Pennsylvania, and has no cosponsors. I oppose this bill because it wrongly taxes all financial transactions, rather than just focusing on the Wall Street speculators who got us into this current economic mess. Americans making normal day-to-day transfers of money should not be subject to a tax on those transactions.

From Wikipedia:  "On February 23, 2010, Fattah reincarnated the bill as the "Debt Free America Act," (H.R. 4646) which proposed to repeal the federal income tax and replace it with a 1 percent "transaction tax" on every financial transaction — whether paid by cash, credit card or any form of financial transfer, the only exception being transactions involving the purchase or sale of stock.[5] The latest bill places more focus on eliminating the federal debt. Fattah has also added a 1 percent tax credit designed to eliminate the impact of the measure on couples making less than $250,000 a year. As of Sept. 5, 2010, none of the House committees have scheduled any action on the latest bill."

The point of all this is that though this bill is a non-starter, it was still put forth by a liberal in Congress. With Democrats something like this will always be waiting in the wings and if they rule Congress for any length of time you can expect anything.
We all may look at what Democrats have done to California and learn from that, but leftists do not learn.
If they made the entire nation one big California, they would never acknowledge their failure; they would only look elsewhere to fix the blame.
For corroboration I refer you to the transcript of any Obama speech.

Hat tip to Joy  from Garibaldi, Oregon who keeps me up to date on the latest rumors.

Obama vs. Gibson Guitars

http://townhall.com/political-cartoons/chipbok

The Left turns on Obama as if he were culpable for pushing through the Left’s own agenda.

Victor Davis Hanson  The Left turns on Obama as if he were culpable for pushing through the Left’s own agenda.

"In response, the Left needs a sacrificial lamb. So it has nonsensically turned with a fury on Obama as if he were culpable for pushing through the Left’s own agenda. If Democrats do not blame the public’s anger on their once-beloved messenger, then they are left only with their message itself. And that is something they simply cannot accept."

                                                                                    Photo: Jacksonville Observer

I take no comfort in the left turning on Obama. It would be great if they had learned from Obama's policies that socialism was a bankrupt philosophy, but they did not. Their anger at him is only because Obama was not far enough left to suit them. Leftist Democrats (pardon the redundancy) have not seen- cannot be made to see- that socialism is a failure, but that is in the socialist gene; the Soviets stuck with it for seven decades with no sign of repentance yet. TD

Lemonade Wars: The State Battles Entrepreneurialism

American Thinker  "Governments are targeting neighborhood lemonade stands throughout the land of the free. The reasons behind these "lemonade raids" are similar no matter their location. Young businessmen and businesswomen, like their mature counterparts, are running afoul of local codes and health ordinances, lacking required permits and licenses, or tripping over bureaucratic red tape. When even the childhood entrepreneur can't escape the overbearing and burdensome tentacles of government's regulatory octopus, what chance has the adult?"

"Actually, my name is Bobby. 'Jimmy's Lemonade' is an international franchise." "

franchising-consultants.com