The Washington Times - September 20, 2011, 04:09PM

Miller writes in today’s Washington Times: President Obama took to the Rose Garden podium on Monday to unveil the latest in his series of misleading and unpopular plans to fix the stalled economy. Now he wants another $1.5 trillion in government coffers from higher taxes, and he’s waging class warfare to get it. Taxes on working Americans and small businesses would go up under the guise of punishing the president’s favorite villains: the nation’s investors and job creators. “Middle-class families shouldn’t pay higher taxes than millionaires and billionaires,” said Mr. Obama “That’s pretty straightforward.” The new “Buffett Rule” concept is named in honor of billionaire investor Warren Buffett, who says he pays a lower tax rate than his secretary. But it’s not so: Mr. Buffett is doubly taxed. He paid the highest tax rate of 35 percent on his income. In turn, he invested that money, taking the associated risk, and paid a capital-gains tax on any earnings. His secretary, who Mr. Buffett pays $60,000 a year, is taxed at a lower rate on just her income. The size of Mr. Buffett’s deductions is no excuse to raise rates on everyone else’s capital. (more)

 

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