President Obama Abandoned The Buffett Rule Regarding Taxing The Rich

What This Will Mean For The Economy

First Lady Michelle Obama and President Barack Obama

Forbes magazine did a write up on President Obama abandoning the Buffet rule, named after billionaire Warren Buffett, regarding rich people not paying enough taxes in America. President Obama's budget made public this month, contains no such rule, which means less revenues for the treasury to create jobs for the unemployed in America and pay down the massive national deficit. Obama flinched at the last minute, bowing to the rich, when America needs the tax revenue. His new budget is more of the same, which has been unsuccessful for three years.

If I were a head of state, under current economic conditions, as I have maintained in articles for years, I'd raise taxes on the rich. My attitude would be: *rolls eyes* what are they really going to do to me - besides that's what they make bullet proof vests for. Everyday I'd also say to my bodyguards, "We're not married, why are you walking beside and not in front of me - because if they shoot me, I'm going to shoot you. It's easy to remember, if I get shot, you get shot."

STORY SOURCE

Where Did the Buffett Rule Go?

2/15/2012 @ 5:12PM - In last month’s State of the Union address, President Barack Obama endorsed a so-called “Buffett Rule”: an additional alternative minimum tax that would ensure that people making over $1 million would pay at least a 30 percent tax rate. So it comes as some surprise that the President’s budget, released this week, doesn’t contain a Buffett Rule.

In the written budget narrative, Obama lays out broad principles for tax reform, including a call for the Buffett Rule. Other items in that narrative include lower tax rates with fewer deductions and exclusions, making tax incentives more progressive, and “fundamental corporate tax reform.” But none of those proposals are actually scored in the budget tables—while Obama is saying they would be a good idea, he is not proposing them for Fiscal Year 2013. Instead, the White House’s proposals for new revenue are a rehash of what it has proposed in the past...

http://www.forbes.com

Financial Experts State The U.S. Economy Is Permanently Damaged

Sustained Economic Deterioration Caused Lasting Damage

Barack Obama

U.S. President Obama has been unable to fix the U.S. economy, which is burdened with stubbornly high unemployment, millions of foreclosures, significantly decreased property values and many shuttered businesses. This month, international experts are now of the belief the U.S. economy will not recover to what it once was, as the damage is so widespread and has persisted for four years, creating a last effect. Experts from Canada (Bank of Canada Governor Mark Carney) and Europe have gone on record voicing these opinions this month.

The Judiciary Report stated the same previously: Ben Bernake Didn't See The Financial Crisis Coming and Wall Street Protesters March Outside The Home Of Greedy CEOs.

The irony is the problems could have been corrected, but Obama’s wasteful spending aided banks and corporate titans, who have hoarded and hidden taxpayer bailout money, rendering it useless to the U.S. economy. However, it has stimulated the off shore banking sectors of foreign economies using the funds to make more money.

President Obama is in bed with Wall Street and the corporate sector, in a manner that has given them free reign to do as they please, which is what caused the crisis in the first place under former President Bush. Rather than taking to task offenders in the corporate sector, President Obama has enriched them with hundreds of billions of dollars in taxpayer money and no ground rules regarding gouging and theft, allowing them to get away with murder against the populace.

It has caused the failure of his presidency and if polls are any indication, he shall not have a second term to correct his damaged legacy in the history books, something his family will have to live with. It is extraordinary what Obama has looked the other way to and the terrible damage it has caused America and the world.

The corporate sector does have the ability to lavish massive campaign donations on Obama, to pay for many commercials and internet ads. However, there aren’t enough people in the corporate sector to get him reelected, under the anger and disappointment of an abused and offended nation of 305,000,000 people, who have lost so much during his tenure.

President Obama's deeds have shown he is not for the working class and the poor, but his filthy rich campaign donors. Under Obama the rich have gotten richer and the poor have gotten poorer. This must stop if America is to have a bright future.

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