Warren Buffett Buys 73 Endorsements for Obama

How generous.

Hat tip to Instapundit for the link.

Pretty Much All it Boils Down To

By Michael Ramirez

It's Official

The United States now has the highest corporate tax rate in the world.

Even Russia, at 20 percent, and China, at 25 percent, have lower rates than America does. The difference in tax rates means American companies are trying to compete with one hand tied behind their backs.

…High taxes also leave less money for businesses to expand, innovate and create jobs. The prospect of saving millions of dollars in taxes has caused some U.S. businesses to move overseas, taking their jobs with them.

In contrast, researchers at the Heritage Foundation have calculated that if Washington were to cut our corporate rate to 25 percent, the benefits to Americans would be dramatic. After-tax income for a typical family would rise by almost $2,500. The U.S. economy would create 581,000 jobs a year over the next decade.

 If the President were truly serious about jobs, lowering the corporate tax rate would be near the top of his agenda.  After all, it's about fairness.  Isn't it?

The Buffett Rule

It is no secret that Obama has failed to put forth a credible solution to the nation's debt crisis.  One of the few solutions he has proposed is the so-called Buffett Rule.  Well, the numbers are in: the Buffett Rule would raise an additional $47 billion over the next 11years, compared to the $47,913 trillion the Congressional Budget Office now projects in federal spending during that time. 



Of course, the Buffett Rule was never really about raising revenue.  It was about scapegoating and villifying the wealthy. The reality is that the US already has the most progressive tax system in the world.  And even if you taxed 100% of the income of those millionaires and billionaires, it still wouldn't close the budget gaps.  Actually paying for Obama's spending would necessarily involve massive, crippling middle class tax hikes.  But he doesn't want to do that, at least not until after his re-election. 

How Serendipitous!

Obama friend and ally, Warren Buffett "stands to benefit from the president's decision to reject the Keystone XL oil pipeline permit.  Mr. Buffett's Bershire Hathaway Inc. owns Burlington Northern Santa Fe LLC, which is among the railroads that would transport oil produced in western Canada if the pipeline isn't built."

And I am sure that he will donate every penny of his windfall to the government.  It only seems fair, right?