Tell us how you think President Barack Obama has handled the economic crisis so far. What's he done right? And what's he gotten wrong?
WOW SAYS IT ALL ABOUT FROGSCUMS THEORY!
Kevin Jackson is someone whom the president and fellow Democrats wished didn’t exist. Jackson is black and a member of the Tea Party where he serves as a spokesman for TheTeaParty.net
After the president’s State of the Union message, Jackson took offense to what Obama said to the nation. He claims the president is rife with liberal hypocrisy.
Jackson points out that Obama wants the wealthy to pay more in taxes because of the financial problems facing the nation. Yet at the same time the president takes half a dozen or so vacations a year, taking not only his wife and daughters, but other family members and friends all at taxpayer expense. The president also wastes taxpayer money by hosting lavish parties at the White House, some of which have nothing to do with politics.
He also points out that Obama criticizes Romney, who only paid about 15% in taxes. What Obama failed to note is that Romney reported $20 million in income and then gave $3 million (15% away to charity – mostly to the Mormon Church) where Obama, prior to his election only gave 1% to charity.
One hypocrisy that Jackson did not point out was Obama’s use of Warren Buffet’s secretary, in the State of the Union address. She sat in the First Lady’s box and Obama used her to point out that wealthy individuals like Buffet, should be paying the same tax rates as working people, like his secretary. After the SOTU was over, it was learned that in fact Buffet had paid the same tax rate as his secretary had, and it wasn’t the 30% figure Obama was advocating.
I find it interesting that a number of wealthy individuals have supported the President’s proposal to have the wealthy pay more in taxes. If they are in favor of it, then why aren’t they doing it? Why don’t they instruct their accountants to forget about all of the loopholes and deductions that allow them to pay lower rates of taxes? There’s no law that says you have to use them or that you can’t pay the IRS more than you owe.
Jackson also forgot to mention Obama’s hypocrisy when he called for more jobs while at the same time refusing to approve the Keystone XL pipeline which would have created a minimum of 10,000 jobs or the Pentagon contract that was awarded to a Brazilian company, sending about 1,400 jobs south of the border.
Mr. Jackson, I whole heartedly agree with what you said but believe that you fell way short of exposing more of Obama’s hypocrisies than what you mentioned. Of course if one was to compile a full list of them, it would probably fill volumes.
Read more: Black Tea Party Member Attacks Obama’s Hypocrisy http://godfatherpolitics.com/3430/black-tea-party-member-attacks-obamas-hypocrisy/#ixzz1l4MexPkb
hodag you forgot to change your moniker now its anonymous.
are the racist teabaggers proud to have a black person in their party or is he just a token. i would say token or these racists idiots would not be pointing out hes black.
Warren Buffett's Effective Federal Income Tax Rate Was Just 11%has now released a few more details about his 2010 tax bill which show he paid just 11.06% of his adjusted gross income in federal income taxes last year—considerably less than the rate for the 400 highest income taxpayers, or for folks earning $100,000 to $200,000 a year. According to a letter Buffett sent to Rep. Tim Huelskamp (R-Kansas) that the Congressman posted here, the billionaire had adjusted gross income in 2010 of $62,855,038, taxable income of $39,814,784, and a federal income tax bill of$6,923,494. That makes his effective tax rate, as a percentage of AGI, just 11.06%, compared to an average effective rate in 2008 (the most recent year available) of 18.1% of AGI for the 400 taxpayers with the largest incomes, according to figures reported by the Internal Revenue Service. (Huelskamp has echoed The Wall Street Journal editorial page’s demand that Buffett release his full return—a step Buffett says he’ll happily take when Rupert Murdoch, chairman and CEO of WSJ owner News Corp., releases his tax return too.) Buffett, the founder and CEO of Berkshire Hathaway, has made himself into a poster boy for tax reform by arguing in a New York Times op-ed and elsewhere that he is taxed at a far lower rate than his office staff and by calling for the “super-rich” to be coddled less and taxed more. That, in turn, has led President Barack Obama to call for tax reform to follow a “Buffett rule” —namely that millionaires should pay taxes at a higher rate than their secretaries and plumbers. The new figures don’t suggest anything untoward on Buffett’s part and, if anything, strengthen his case. Previously, he had said he paid 17.4% of his taxable income to Uncle Sam, including payroll taxes for Medicare and Social Security. It’s not surprising that Buffett’s rate, as a percentage of AGI, is significantly lower than as a percentage of taxable income. Taxable income is the smaller number you get after claiming deductions for charitable contributions, state and local taxes and the like. Moreover, since Buffett pays himself a salary of just $100,000 a year, most of his income comes from investments—long term capital gains and dividends–taxed at a special top rate of 15%. By contrast, some of the highest income taxpayers operate their businesses as privately held S corporations, which means that the businesses themselves pay no taxes, but pass through all their profits to their owners’ 1040s, where it is taxed at the ordinary top rate of 35%. (For example, that explains why, according to the government, billionaire Andrew Beal tried to stockpile more than $4 billion in artificial tax losses from the now disallowed DAD tax shelter to offset his future personal income—all the profits from Beal Financial Corp. were landing on his tax return. Beal insists the losses were proper.) Here, for 2008 (as reported by the IRS and calculated by Forbes) are the average effective individual income tax rates, as a percentage of adjusted gross income, for various income groups. Size of AGI Average Tax (in $) 2008 % of AGI 1-25,000 1.76 25-50,000 5.32 50-100,000 8.41 100-200,000 12.59 200-500,000 19.50 500-1,000,000 23.92 1-10,000,000 24.47 10,000,000 + 20.89 109,736,000+ 18.11