Filed under: Capitalism, Democrat Corruption, Economy, Election 2012, Politics, Taxes | Tags: 88 Million Unemployed, No Recovery in Sight, The Buffett Rule
Remember Rick Santelli whose rant on the economy was the impetus for the founding of the Tea Party? Here he is again. Still ranting.
Here we’ve all been so worried about the deficit, what it will do to our economy and the burden on our children, but Obama explained that if we just pass the Buffett Rule, it “will help us close our deficit.”
Of course the Congressional Budget Office chimed in. Mark Steyn reminded us that the CBO are “the same nonpartisan bean-counters who project that the entire U.S. economy will cease to exist in 2027.” They predict that “Obama’s Buffett Rule will raise…$3.2 billion per year. Or what the United States government currently borrows every 17 hours. So in 514 years it will have raised enough additional revenue to pay off the 2011 federal budget deficit. If you want to mark it on your calendar, 514 years is the year 2526.”
He adds: “For what Obama’s spending, there aren’t enough of them, or us, or “the rich” — and there never will be. There is only one Warren Buffett. He is the third-wealthiest person on the planet. The first is a Mexican, and beyond the reach of the U.S. Treasury. Mr. Buffett is worth $44 billion. If he donated the entire lot to the government of the United States, they would blow through it within four and a half days.“
Doesn’t matter. That’s not what Obama is on about. He thinks if he can just get Americans riled up about “the rich” then he can point to Mitt Romney as one of the hated rich. If Congress doesn’t pass his Buffett Rule, which they won’t, then he can point to a recalcitrant Republican Congress that blocks his every effort to save the country.
Since he has no real accomplishments to run on, Obama clearly plans on taking the low road. He does not tolerate honest differences, and he will impugn the motives of anyone who dares to disagree with him. Envy of “the rich” and pointing out that rich and old-fashioned Mitt Romney and his stay-at-home wife are simply out of touch with ordinary people, is Obama’s strategy. But that’s not what ordinary people are concerned about.
Ordinary people of both parties care about the 88 million unemployed. They care about an economy that is not creating jobs, and a debt and deficit that keep growing without the slightest effort to rein in spending.
Heritage did this handy little graph to show just how totally insignificant the amount raised by the Buffett Rule would be. Once again, a visual explanation helps to explain what is not so clear in numbers.
The Hill suggests that weak jobs numbers raise pressure on the Federal Reserve to adopt a new stimulus to boost the economy.
Arrrggggh! It is not another useless stimulus that the economy needs. It is a halt to reckless spending, the constant flow of new rules, the burden of over-regulation, the coming Tax Armageddon, the rising cost of energy, and the crushing burden of ObamaCare. Businessmen and business organizations keep telling the folks in Washington why they are not hiring, why the economy is not growing, but nobody hears them. The smartest people in the world are fully in charge, and as soon as they enlarge the government a little more, all will be well. Or not.
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