President Obama, "It's not Class Warfare - It's Math!"

President Obama unveiled his $3 trillion debt-reduction plan today – and millionaires aren’t going to get off so easy this time. In what is called the “Buffett Rule” – the President proposed partially closing the capital gains tax loophole. This lets many of America’s millionaires and billionaires like Warren Buffett and Paris Hilton - who just collect dividend checks all day by the pool – skate by paying only a 15% tax rate – far lower than the rate working stiffs pay. Under the President’s new plan – the richest of the rich will pay at least the same tax rate as average middle class taxpayers.

Seems fair, right?

Not if you’re Republican Budget Chairman – and guy who wants to throw Grandma off a cliff by privatizing Medicare – Paul Ryan – who decried any tax increase on the rich as “class warfare.” Coincidentally – at the same time – Ryan and the rest of his Republican buddies came out against tax cuts for middle class families – the payroll tax-cut included in President Obama’s “American Jobs Act.” In fact – under Ryan’s Republican budget proposal that nearly every single Republican in House voted for – taxes would actually go UP on middle class families – and go down on millionaires and billionaires. So to recap – Republicans are calling a tax hike on billionaires “class warfare” – but are at the same time pushing for a tax hike on the middle class.

There is class warfare all right in America – and as Warren Buffet said – it’s his class – the rich – that’s winning. Thank to shills like Paul Ryan.

Popular blog posts

No blog posts. You can add one!

ADHD: Hunter in a Farmer's World

Thom Hartmann has written a dozen books covering ADD / ADHD - Attention Deficit Hyperactive Disorder.

Join Thom for his new twice-weekly email newsletters on ADHD, whether it affects you or a member of your family.

Thom's Blog Is On the Move

Hello All

Thom's blog in this space and moving to a new home.

Please follow us across to - this will be the only place going forward to read Thom's blog posts and articles.