The wonderful thing about democrat proposals is that they always sound good. Affordable health care for all. Erasing the national debt. World peace through conversations. Yea!
However, the devil is in the details and maybe like Joe Boyd from Damn Yankees, the democrats may be making deals with the devil and spinning a story that usually unravels. A case in point is the Buffett tax or Buffett rule – which is getting a bit silly, Bush Tax Cuts, Buffett Rule, etc. I really don’t think we need to name these things as such. The proposal from the Obama budget would replace the AMT with the “Buffett Rule” (basically, a 30% tax on millionaires). However, it is projected to only raise $46.7 billion over 10 years and leave over 99% of the deficit untouched next year. The Joint Tax Committee scored the proposal and determined that swapping the Buffett Rule for the AMT would add $793.3 billion to the debt over the next 10 years.
The UK tried the millionaires tax and it demonstrated that it failed. Furthermore, tax planning professionals believe that with investment usage such as tax-free municipal bonds, many American millionaires could avoid the tax.
I think that either one needs to conclude that the Obama Administration is out to purposely redistribute wealth or they are so clueless that they really don’t understand the economy, business or reality.
GorT is an eight-foot-tall robot from the 51ˢᵗ Century who routinely time-travels to steal expensive technology from the future and return it to the past for retroinvention. The profits from this pay all the Gormogons’ bills, including subsidizing this website. Some of the products he has introduced from the future include oven mitts, the Guinness widget, Oxy-Clean, and Dr. Pepper. Due to his immense cybernetic brain, GorT is able to produce a post in 0.023 seconds and research it in even less time. Only ’Puter spends less time on research. GorT speaks entirely in zeros and ones, but occasionally throws in a ڭ to annoy the Volgi. He is a massive proponent of science, technology, and energy development, and enjoys nothing more than taking the Czar’s more interesting scientific theories, going into the past, publishing them as his own, and then returning to take credit for them. He is the only Gormogon who is capable of doing math. Possessed of incredible strength, he understands the awesome responsibility that follows and only uses it to hurt people.