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Friday, April 12, 2013

Wait a minute, did Obama just pay 18% in taxes for 2012?

Correction "every" - under Romney: The 2 men who attacked each other in 2012 on
taxes - Shocking Obama tax rate! 
Readers probably reacted the same way as I did when the news of Obama's tax records for 2012 came out today - it is a total shocker! The man who screamed at the top of his lungs that his opponent is for the RICH because he only paid 14% in taxes, he himself paid about the same level - 18% - for earning exceeded his standard for high tax brackets. While the average American family saw their taxes went up since the Obama's first term in office, and while calling for the increase in US corporate tax from 35 to 39%, Obama settled for the rate most millionaires are paying - just a little over 10%. Certainly the millionaire Democrats who reaped the benefits of George W. Bush's tax-cuts probably paying about the same rate as Obama, made focal attack on Gov. Romney back in 2012, a total joke! 

In trying to justify Obama's rather interesting tax-rate, the White House' website wrote the following: 

The President believes we must reform our tax system which is why he has proposed policies like the Buffett Rule that would ask the wealthiest Americans to pay their fair share while protecting families making under $250,000 from seeing their taxes go up. (whitehouse.gov)

Notice that the White House quoted president Obama's "tax" views in an attempt to say that while he paid less than expected, he believes he should pay more, really? if he truly believes that Americans aren't paying their fair share of taxes, why not leading by example and pay the 39% he has been preaching since 2008? 
The site doesn't mention the fact that Obama deferred his tax-increases to take effect in 2014. It is obvious that this deferment is to avoid a catastrophic mid-term election when tax payers see their paycheck sliced and diced by his tax-increase. He wanted to increase everyone's taxes just before exiting office. Off course, Obama could have implemented his tax policies earlier so that he pay his own fair share before leaving office. As predictable, he, as many other Democrat big earners, paid a lower tax rate since taking over the White House. These fat rich Democrats did absolutely nothing to ensure that people like him (who earned more than half a million) pay their fair share. Which forces the question, why talking about it when they can't live their own ideologies?
The article mentioned also mentioned the so-called "Buffett Rule". What the White House and Democrats have been doing is using apple to demonstrate orange - and in this case, the Obama administration have been attacking Gov Romney and the Republicans using "capital gains tax" to make the case for an increase in corporate tax rate. Obama senselessly attacked Gov Romney's tax rate knowing full well that Gov Romney was paying the rate the law required him to pay. In fact, Buffett and Romney both paid the same amount of rate on so-called "capital gains" tax - a tax on investment profits. 

Capital gain income from assets held longer than one year are generally taxed at a special long-term capital gains rate. (about.com)

This is a tax rate paid for long term investments. Obama used this argument to attack Gov Romney's when he knows very well, Gov Romney did not commit a crime. He also implied that Gov Romney had a choice but chose to pay a lower tax-rate, and further implied that Gov Romney deliberately paid less taxes than he should. His campaign also suggested Gov Romney may have committed a "felony" for paying lower tax rate. Obama also made the argument back in 2008-2012 that the Republican wanted to give rich people ($250,000+) tax cuts but not the poor Americans.  All these charges were, albeit, false, misleading, and defamatory. Stunningly, however, he and his wife paid 18% for 2012 - just about the same rate as Gov Romney. And in their own words and definition of corporate crime, Obama is a felon. Who can take this man and the Democrats seriously?
It is beyond laughable - its no joking matter when Obama fights hard to increase everyone else's taxes, including significant hike in food and service taxes, including smoke, while he and his cronies decided to pay just a fraction of what they were harping about. They chose to pay about the same rate he seemed to detest as a candidate and as president. Talking the talk but not walking the walk is the definition of so-called "hypocrisy!"
This is, sadly, not news! Democrat millionaires and billionaires pretended that the Democrat party is for the poor and that the Republican party is for the rich. This is a mantra that students and women, including minorities, seemed to embraced. But a mantra that produced absolutely nothing to back it up. Students see their tuition doubled, and that higher unemployment rates also hit the minorities now than any other time. 
These clowns attacked the Bush' tax-cuts to top earners in this country and suggested alternative taxes with which they argued are fair, but when tax retirement arrived, these buffoons only pay less than 20%. Rich Democrats know deep in their hearts they benefited so much from the tax-cuts they demonized day in and day out. They know very well that they pay less in taxes but they do this as a matter of talking what they believed sounds good to the ears of voters - the know-little voters of the nation. 
Today, the media who vehemently attacking Romney over his lower taxes and wealth, refused to report on this breaking news, and those who did settled for the "well its the law", or simply along the conciliatory lines of -"Well he is not breaking the law", something they refused to give Gov Romney in 2012. The justification, legal explanation of the Obama taxes for 2012 is expected to dominate all news cable henceforth, so here we go again!

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