Obama Raised Taxes on Buffet’s Secretary!

Populism Gone Wrong

Last night, Warren Buffet’s secretary occupied  a place of honor as an invited guest of the Obama’s to the State of the Union address.  She got to sit with the First Lady, sort of like the Iraqi woman who was invited by Bush and showed off her ink stained finger for voting.  So what exactly did Buffet’s secretary symbolize?  The downtrodden middle class who somehow pay more taxes than billionaires like her boss Warren Buffet.

There is one glaring problem with Obama using Debbie Bosanek, Buffet’s secretary, as a prop for class warfare.  As Paul Roderick Gregory with Forbes Magazine calculates, Buffet’s secretary makes at least $200,000 a year.  Fortunately, she can still call herself part of the 99% because at $200,000 a year, she only made the top 3% of income earners, not the top 1%.

But here is the best part: Obamacare raises taxes on individuals making more than $200,000.  Because of Obamacare, starting next year Warren Buffet’s secretary will pay an additional 3.8% on investment income, and an additional .9% in Medicare taxes for a total tax hike of 4.7%.  And if Obama gets his way and the Bush tax rates are eliminated for individuals who make more than $200,000, Obama will have effectively raised Buffet’s secretary’s taxes by 7.7%, or possibly as much as 9.6% if she is in the highest tax bracket.

Good job, Mr. President.  Thank you for that ever-so-perfect State of the Union prop.

Speaking of Buffet

In case you were wondering why Obama canceled the Keystone pipeline, a move the Washington Post called “insanity”, we may get some clues by following the money.  According to Bloomberg, Obama supporter Warren Buffet stands to profit big time from cancellation of the pipeline.  Buffet’s Berkshire Hathaway owns the rail companies who will transport the oil in lieu of a pipeline. Crony capitalism at its best, at the cost of thousands of American jobs.  Oh yeah, and for you environmentalists who opposed the pipeline, what sort of impact do you think transporting that oil on trains will have on the environment?  Maybe you should re-think this one.

Jacksonville TEA Party Straw Poll Picks Newt

In the first ever Angie’s Subs Caucus, TEA Party members from across the Northeast gathered at Angie’s Subs in Jacksonville, Florida to discuss local and national politics and have a straw poll.  323 votes were cast and the winner was Newt with 138 votes, or 43%.  Second place?  Ron Paul, gaining 26% of the vote.  Romney finished third.

Thursday, Jacksonville will be hosting the last debate before voters in this key state hold their primary.  Recent polls have wavered back and forth with Newt erasing a double digit deficit to now have a slight lead in most polls.

Rubio Flexes Influence

Newt Gingrich pulled an add calling Mitt Romney “anti-immigrant” after Marco Rubio called out the ad as deceptive.  What this shows is the incredible respect the current Republican godfathers have for the 2010 class.  And this is well deserved.  Marco Rubio, Alan West, Paul Ryan, Rand Paul, and a host of Republican governors including Scott Walker, Rick Scott, and others, represent the type of conservatism that the TEA Party loves, but that also resonates with Americans.  Part of the reason the 2012 Presidential field has been disappointing for some is because the giants of 2012 pale in comparison to the greatness of the younger Republican generation.

 

Advertisements

Paul Ryan v. The Fed

Ben Bernanke is warning the US of a dire future filled with high interest rates, crushing debt, and a weak dollar. He is calling on Congress to save the day. However, Bernanke is also warning Republicans to pay no attention to the man behind the curtain.

Bernanke has just cause to be concerned. After the Fed’s $600 billion cash creation used to buy US debt, Republicans are focusing on limiting the Fed’s ultimate fiscal power. Led by Paul Ryan, Republicans are looking to take away the Fed’s responsibility to create jobs. This would mean a much less powerful position for Ben Bernanke.

Normally, such an idea would be discarded. But after years of Fed manipulation creating no job growth and looming inflation that Bernanke swears is not there, the public might be ready to rein in the Fed’s power. Even crazy idea’s like Ron Paul’s idea to audit the Fed are gaining traction. Congressional oversight of the Fed? Truly a novel concept.

If Paul Ryan succeeds in bringing down the Fed’s unlimited economic power, he will be a household name by this time next year. But it won’t just be taking on Bernanke that makes him infamous.

Republicans are betting on austerity. They are counting on cutting debt and returning more money to the private sector as the way to restore our economy. Across Republican run states and in DC this is the strategy. Paul Ryan has been chosen to spearhead this effort. His ambitious plans include revamping Social Security and Medicare, and spending cuts in many areas politicians are normally wary about touching. If it works quickly, Paul Ryan could be very popular in 2012.

The Tea Party Response To The State Of The Union….Hey Michelle, The Camera Is Over Here.

Bookmark and Share With the State of the Union Address behind us the country can decide how they chose to interpret the message the President gave. But what will they think of the message or to be more specific, message(s), that the GOP gave in response? In this authors humble opinion it may not have been the proper strategy to put forth 2 messages from 2 different GOP Representatives to one message given by the President. A message which was built up all week under the premise of coming together as legislators to govern. The Republican’s couldn’t even come together for a common response.

Paul Ryan‘s giving the official Republican response,” House Majority Leader Eric Cantor (R-Va.) told reporters Monday. “And Michele Bachmann, just as the other 534 members of the House and Senate, are going to have opinions as to the State of the Union. Again, this is a process that happens every year, and I look forward to all comments, but it’s Paul Ryan that’s giving the official Republican [response].”

The opposition party traditionally delivers a speech following the president’s address. GOP leaders selected Republican Rep. Paul Ryan (Wis.) to offer this year’s official Republican response. But the Tea Party Express, a national small-government group, asked Minnesota Rep. Michelle Bachmann to deliver a separate tea party response via its website. The speech was also carried live on CNN, who has never been known to be a GOP friendly media outlet.

I believe Paul Ryan did a good job in the ‘official’ response. He pointed out the spending that was proposed by the President and the fact that we were told the same things the last time around. He was candid and at the same time was optimistic that both sides could do what was right for the country. Realistic? If history repeats itself, probably not, but it is what America wants to hear. Ryan did a good job in being firm yet not too confrontational on a night in which the country saw a show of unity within the halls of Congress. He gave a general direction of where we are at and where the GOP wants to take us and he did it with style.

Bachmann’s response was a bit more confrontational. She did not appear to be looking at the camera at any time. Whomever filmed the speech did a less than stellar job as she never once looked at the people whom she was addressing, and in my opinion, came off as a bit more rhetorical where as Ryan came off as more sincere. It was poor planning by the Tea Party Express. In a time dedicated to unity in the wake of the shooting of Rep. Giffords the second ‘un-official’ Tea Party response may have appeared to some that there is a huge split between the Republican party and the Tea Party. And after the responses to tonight’s State of the Union…Michelle Bachmann did not do the Tea Party any favors. In my opinion it may have been damaging in the long run. It seemed disconnected in more ways than one. But then again, the Tea Party has been never been considered part of the GOP establishment and in most instances, and it hasn’t seemed to hurt them.

Bookmark and Share
%d bloggers like this: