This week we saw President Obama fire his first salvo in the 2012 presidential election. No he didn't give this speech before his adoring union members or college student "purple Kool-Aid" drinkers. He gave it from the Rose Garden of the White House. He said, "Middle class families shouldn't have to pay higher taxes than millionaires and billionaires."
Folks, as usual it is another Obama "half-truth." Yes, billionaire Warren Buffet pays only 15 percent taxation on his earnings. That is because he has no job = no "earned" income; only "capital gains income" from his stock. If Joe Smoe or Joe the Plumber earns his only income from stock investments, then he would be paying the same 15 percent taxes while his neighbor next door would be paying a higher "earned income" tax bracket. Here are some facts:
Average income tax bracket for people earning $1 million a year is 29.1 percent. Only 1,470 out of 237,000 millionaire taxpayers - less than 1 percent - paid no income tax at all. Among low and middle-income taxpayers across America, 46 percent paid no income tax because of tax breaks and deductions.
Obama and the Democrats are using this idea of class warfare to try and regain the upper hand in the 2012 election. They can't run on their failed politics so they appeal to the lowest common denominator - envy of people who have more than they do.
This is what the French Revolution was based on... class envy. Obama and the Democrats are just lying to the American public once again.
Leon Ceniceros, Mesa