President Barack Obama is using every tool in the playbook to promote his class warfare. The president seems to be adamant that taxes be raise on individuals making over $200,000 if only for the sake of fairness, not if it makes economic sense.
Obama repeatedly calls these people millionaires and billionaires, despite the fact that it would take someone earning $200,000, 5,000 years to earn a billion dollars.
Assuming someone worked 5,000 years, and did not spend a penny they would in fact be a billionaire. Perhaps when Obama speak, he is only allowed to use a teleprompter, not a calculator.
Warren Buffett is not only a master of investing but also a great writer.
However, Buffett wrote an op-ed in the New York Times earlier this week that was probably the worst essay I have ever seen from such a brilliant thinker. The op-ed was full of inaccuracies, inconsistencies, hints of class warfare and calls for higher taxes on the rich.
However, Buffett made it clear that he would only call for taxes on people making over $1 million a year, not $200,000. Obama so eager to tax the “rich” immediately seized on Buffett’s words to promote his agenda to tax and spend agenda. Again, Obama pushed for anyone making over $200,000 a year.
Buffett stated in his op-ed that while the poor and middle class were fighting in Afghanistan, the rich were not suffering too much despite the economic crisis. Again Obama thinks that this includes anyone making over $200,000.
Let’s first start off with Obama’s conduct of the war in Afghanistan. It was Obama’s idea to send an extra 30,000 troops into a war that was lost.
Under Obama’s command more American troops died in Afghanistan in 2010 than any other year. And while I strongly hope I am wrong, 2011 is on pace to far exceed the casualties in 2010. So if Obama cared so much about the suffering of the poor and middle class in Afghanistan how dare he use Buffett to further his political propaganda? Obama was the one who put all these troops in harms ways.
Additionally, Obama is not living it rough with his vacations to Martha Vineyard, and $1 million fund-raisers with ultra-rich liberals.
However, many “rich” people making $200,000 or $300,000 suffering immensely. I personally know many people in this category who lost their job as a result of mass layoffs by firms they have been working at for decades in technology, pharmaceutical, banking and other industries.
Buffett should not have provided the cannon fodder for the president. However, the American people are starting to get sick of Obama’s harmful rhetoric and constant twisting off the facts; his approval rating is at the lowest level of his presidency.
If Obama stops the class warfare and the dishonesty, it would not only help his re-election, campaign but help the economy, as more Americans would have confidence in the future of our country.
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