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Saturday, August 10, 2013

Buffeted

President Obama’s “American Jobs Act”, which was recently effectively killed by the so-called “Republican”s in the House of Representatives, and filibustered by the Teabagging-Partiers in the Senate Minority, contained not only tax breaks for small businesses and the working class, but a leveling of the tax burden (referred to by the Administration as being their “Buffet Rule”) on the wealthiest 1% [the tax increase in question would technically only apply to the top one-fifth to one-half of one percent], who have seen their incomes skyrocket since the trickle-down Reaganomics of the 1980′s, while the working middle class has yet to see a raise in wages for nearly three decades.
Let us just look at the Teabagging Party itself, for an example, shall we?
The Teabagging Party [8] is funded [19] by David and Charles Koch, whose combined personal wealth of $50 Billion Dollars now exceeds that of Warren Buffet by 11 Billion. Over the past three years since 2009, the Koch Brother’s personal wealth has skyrocketed from $32 billion in 2009 to 50 Billion Dollars in 2001. During the same time period, the number of people employed by David and Charles Koch’s wholly privately owned and operated corporation of Koch Petrochemical Industries has dropped from 80,000 in 2008 to 67,000 in 2011. The personal wealth of David and Charles Koch alone is greater than the gross domestic product of the Eastern European nations of Slovenia, Bulgaria, Serbia, Lithuania, Latvia, Estonia, Bosnia, Herzegovina, Iceland, Albania, and Georgia; The Asian countries of Sri Lanka, Uzbekistan, Macau, Turkmenistan, Nepal, and Afghanistan; The Middle Eastern nations of Oman, Lebanon, Jordan, Yemen, Cyprus, and Bahrain; the African Nations of Tunisia, Kenya, Ghana, Ethiopia, Tanzania, Ivory Coast, Cameroon, Uganda, Zambia, Botswana, Democratic Republic of Congo, Gabon, Senegal, Namibia, and Republic of Congo; the Central American countries of Guatemala, Costa Rica, Panama, El Salvador, Trinidad, Tobago, Honduras, and Jamaica; and the South American Nations of Uruguay, Bolivia, Paraguay, and Equatorial Guinea.
Warren Buffet, one of the richest men in the world, pays less in taxes to the federal government than the middle-class people, and even the minimum-wage people, who work for his corporation. He, and numerous other multi billionaires and multi-millionaires, are asking, and indeed pleading with, (some would even go so far as to say “begging”) the government to please raise their taxes. If the ones we would be taking the money from are, of their own free will, offering to give it to us, can it still really be called “redistribution”? Or is it merely, once more again as always, the government just doing what the richest people in the country are telling it to do?
President Obama’s “Warren Buffet Rule” [25] has been and is supported by the overwhelmingly vast majority of Americans [28] as the American public has been in favor of raising taxes on the richest Americans for quite some while now [14].
However the statement in response to President Obama’s American Jobs Act of 2011 from the Koch Brothers owned and operated “Americans For Prosperity” Teabagger organization read in part: “We know that decreasing taxation and regulatory burdens on job creators and innovators is the only policy design that has ever lifted people out of poverty, spurred economic growth, and created jobs.” This, of course, as can be expected of teabaggers by this point in time, is demonstrably false [6] as is the claim by the now wholly Teabbagging Party owned and operated so-called “Republican” GOP in Congress that President Obama’s American Jobs act of 2011, and more specifically his “Warren Buffet Rule”, which is supported by even the Wealthy in America [4] amounts what is in their mind, in their own words “class warfare” [27]. But what really makes the “class warfare” over President Obama’s American Jobs Act of 2011 even more, in the words of the Washington Post, “surreal” [20] in addition to the overwhelming majority of Americans in favor of raising taxes on the rich [22] is the fact that not only do most Americans are in support of the bill [1] and want it to be passed [3] but it is, at its core, by its very essence, a very conservative thing to do. [13]

“Obama will propose new taxes on the wealthy, special new taxes for millionaires, and eliminating or scaling back a variety of loopholes and deductions, officials say. About half of the tax savings would come from the expiration next year of the George W. Bush administration tax cuts for the wealthy.” [9]

Sixty-four percent of Americans said they believe those making a million dollars or more in taxes should pay more. Thirty percent said taxes on such individuals should not be increased. Democrats were extremely likely to support such an increase (83 percent did so), and independents also supported it, 65 percent to 28 percent. On the other side, 54 percent of Republicans opposed such an increase, while 40 percent supported it. [15]
A Gallup poll [16] released today provides the latest data point in this regard. According to the survey, 66 percent of all Americans favor the idea of raising taxes on individuals earning more than $200,000 and families making more than $250,000 in order to pay for the president’s jobs plan, while only 32 percent oppose the idea. By an even larger margin (70-26), Americans favor eliminating tax deductions for some corporations, thus raising their taxes. [21]
According to the latest CBS News/New York Times Poll [11] conducted before the president announced his plan, the public supports increasing taxes in order to help reduce the budget deficit – at least on those with higher incomes. Fifty-six percent of Americans think taxes should be increased on households earning $250,000 a year or higher to help lower the deficit, while 37 percent say taxes should not be raised on those households. There is a partisan divide here with most Democrats and independents in favor of increasing taxes on this group, while 56 percent of Republicans are opposed. Still, support for a hike in taxes was slightly higher back in August on the heels of the debt ceiling agreement – 63 percent of Americans favored raising taxes on households earning $250,000 or more, including 52 percent of Republicans. There is some division within the Republican Party on this issue. Seventy-one percent of Republicans who support the Tea Party movement are opposed to tax hikes on households making $250,000 or more, but among those Republicans who do not support the Tea Party, only 43 percent hold that view. Fifty-two of this group actually supports tax increases on those with higher incomes in order to reduce the deficit. [17]
According to figures released by Bloomberg and The Washington Post on Tuesday [5] eight in 10 Americans, including a majority of Republicans, support raising taxes on households earning over $250,000 a year. A full 81 percent of Democrats were behind the plan, along with 67 percent of independents and 53 percent of Republicans. [26]
More than half of Republicans say wealthier Americans should pay more in taxes to bring down the federal budget deficit. Fifty-three percent of self-identified Republicans back an increase in taxes on households making more than $250,000, a sentiment at odds with the party’s presidential candidates, who will meet tonight in a Bloomberg-Washington Post-sponsored debate focused on economic issues. More than two-thirds of all Americans back higher taxes on the rich and even larger numbers think Medicare and Social Security benefits should be left alone, according to a Bloomberg-Washington Post national poll conducted Oct. 6-9. [7] But the president won’t call for any changes in Social Security, officials say, and is seeking less-aggressive changes to Medicare and Medicaid than previously considered. He will propose $320 billion in health-care savings but will not include raising the Medicare eligibility age from 65 to 67, officials said. [10] Any reduction in Medicare benefits would not begin until 2017, they said. Other cuts in domestic spending would bring the total spending savings to $580 billion. About $1 trillion in savings is also expected from winding down the wars in Iraq and Afghanistan. Obama will pledge to veto any cut in entitlements that does not also include increases in tax revenue. [9]
A CNN/ORC International Poll released Wednesday also indicates that the public doesn’t want the super committee to propose major changes to Social Security and Medicare or increase taxes on middle class and lower-income Americans. According to the poll, 63 percent say the super committee should call for increased taxes on higher-income Americans and businesses, with 36 percent disagreeing. And by a 57 to 40 percent margin they say the committee’s deficit reduction proposal should include major cuts in domestic spending. But cuts in defense spending get a mixed review: Forty-seven percent would like the committee to include major cuts in military spending, with 53 percent saying no to such cuts. Nearly two-thirds say no to major changes to Social Security and Medicare. And nearly nine in ten don’t want any increase in taxes on middle class and lower-income Americans. [23] The poll also underscored differences between Republican supporters and the rest of the nation on the burden the military should bear in righting the country’s fiscal situation, with 61 percent of party backers opposing defense cuts, while 60 percent of Democrats and 58 percent of independents support them. [7]
In April of this year, 52 percent were unwilling to have their own taxes raised in order to reduce the deficit, according to a CBS News/New York Times Poll. But in a separate question, 72 percent approved of a tax hike starting in 2013 on households earning $250,000 or more. [17]
More than 8 out of 10 Americans say the middle class will have to make financial sacrifices to cut the deficit even as the public strongly opposes higher taxes on middle-income families. [7] Overall, 81 percent of American adults said they believe that even the middle class will be forced to make sacrifices to reduce the nation’s deficit. However, 83 percent of Americans agreed that cutting Social Security should not be an option. Another 82 percent said cutting Medicare should be off the table. [26] Nearly half of those polled approved of income tax increases on discretionary household incomes of $500,000 or more annually, said the poll sponsored by two marketing and publishing companies. For those earning $1 million or more annually, 65 percent of respondents said they would support income tax increases. [24]
A new survey from the Spectrem Group [18] discovered that 68 percent of millionaires support raising taxes on those who make at least one million dollars a year. [12] Republicans often argue that increasing taxes on the wealthy will impact job creation. But the new CBS News poll finds that just 18 percent of Americans agree. More – 25 percent – say the increase will actually help job creation. A slim majority – 51 percent – says it will have little impact. [2] Still, there are mixed signals: Asked the most effective way for the government to get the economy moving, nearly half (47 percent) chose cutting taxes to encourage investment. Fewer – 37 percent – preferred spending more money to create jobs. A majority of Republicans called for tax cuts while a majority of Democrats called for spending to create jobs. [15]


  1. “American Support Obama Jobs Plan, Poll Finds”. The Star Ledger. September 15, 2011. http://www.nj.com/njvoices/index.ssf/2011/09/americans_support_obama_jobs_p.html 
  2. Bartlett, Bruce. “23 Polls Ay People Support Higher Taxes To Reduce Deficit”. Capital Gains and Games. August 10, 2011. http://capitalgainsandgames.com/blog/bruce-bartlett/2341/23-polls-say-people-support-higher-taxes-reduce-deficit 
  3. Browdie, Brian. “President Obama Jobs Plan: More Americans Want Congress To Pass It, Says Gallup Poll”. New York Daily News. Thursday September 15, 2011.  http://www.nydailynews.com/news/politics/president-obama-jobs-plan-americans-congress-pass-gallup-poll-article-1.955163
  4. Callahan, David. “Why The Wealthy Don’t Object To Obama’s “Class Warfare”. Reuters. September 22, 2011. http://blogs.reuters.com/great-debate/2011/09/22/why-the-wealthy-don%E2%80%99t-object-to-obama%E2%80%99s-%E2%80%9Cclass-warfare%E2%80%9D/ 
  5. Clement, Scott. “Poll: Middle Class Pain Necessary, But Widely Unpopular”. The Washington Post. November 10, 2011. http://www.washingtonpost.com/blogs/behind-the-numbers/post/poll-middle-class-pain-necessary-but-widely-unpopular/2011/10/07/gIQAMksvaL_blog.html 
  6. Dorning, Mike. “Job-Killing” Tax Hikes May Not Be So Lethal”. Bloomberg. September 22, 2011. http://www.businessweek.com/magazine/jobkilling-tax-hikes-may-not-be-so-lethal-09222011.html 
  7. Dorning, Mike. “Poll: Americans Back Taxing Rich”. Bloomberg. October 11, 2011. http://www.bloomberg.com/news/2011-10-10/cain-pulls-even-with-romney-on-economy-for-republican-supporters-in-poll.html 
  8. Goldenberg, Suzanne. “Tea Party Movement: Billionaire Koch Brothers Who Helped It Grow”. The Guardian. Wednesday October 13, 2010.  http://www.theguardian.com/world/2010/oct/13/tea-party-billionaire-koch-brothers
  9. Goldfarb, Zachary. “Obama’s Debt-Reduction Plan: $3 Trillion In Savings, Half From New Tax Revenue”. The Washington Post. September 18, 2011.  http://www.washingtonpost.com/business/economy/obamas-new-debt-reduction-plan-to-draw-contrasts-with-republican-vision/2011/09/18/gIQAI9XddK_story.html
  10. Goldfarb, Zachary. “Obama, In New Debt Proposal, Won’t Put Social Security Cuts Back On The Table”. The Washington Post. Thursday September 15, 2011.  http://www.washingtonpost.com/business/economy/obama-unlikely-to-put-social-security-cuts-back-on-the-table-sources-say/2011/09/14/gIQAsW9LTK_story.html
  11. Hechtkopf, Kevin. “Public Split On Jobs Plan”. CBS News. September 16, 2011.  http://www.cbsnews.com/news/obamas-approval-rating-drops-to-all-time-low-public-split-on-jobs-plan/
  12. Kephart, Tim. “Majority Of Millionaires Want To Pay More Taxes”. CBS. October 27, 2011.  http://miami.cbslocal.com/2011/10/27/majority-of-millionaires-want-to-pay-more-taxes/
  13. McAdams, David. “Buffett Rule” A Tax Reform Republicans Could, Should Support”. The Star Ledger. October 13, 2011. http://blog.nj.com/njv_guest_blog/2011/09/buffet_rule_a_tax_reform_repub.html 
  14. McCambridge, Ruth. “Polls Show Americans Are In Favor Of Tax Hikes On Rich (As Well As Many Obama Jobs And Deficit Reduction Proposals)”. NonProfit Quarterly. Wednesday September 21, 2011. http://www.nonprofitquarterly.org/index.php?option=com_content&view=article&id=16066%3Apolls-show-americans-are-in-favor-of-tax-hikes-on-rich-as-well-as-many-obama-jobs-and-deficit-reduction-proposals&catid=155%3Anonprofit-newswire&Itemid=986
  15. Montopoli, Brian. “Poll: Most Want Taxes On Millionaires Increased”. CBS News. October 3, 2011. http://www.cbsnews.com/news/poll-most-want-taxes-on-millionaires-increased/ 
  16. Newport, Frank. “American Favor Jobs Plan Proposals, Including Taxing Rich”. Gallup. September 20, 2011. http://www.gallup.com/poll/149567/americans-favor-jobs-plan-proposals-including-taxing-rich.aspx 
  17. Pinto, Jennifer. “Polls Show Most Americans Support Raising Taxes On Wealthy”. CBS News. September 23, 2011. http://www.cbsnews.com/news/polls-show-most-americans-support-raising-taxes-on-wealthy/ 
  18. Reyneri, Adriana. “Economic Situation Warrants Tax Hikes, Program Cuts, Say Millionaires”. Spectrem Group. Monday October 24, 2011. http://www.millionairecorner.com/article/economic-situation-warrants-tax-hikes-program-cuts-say-millionaires 
  19. Rich, Frank. “The Billionaires Bankrolling The Tea Party”. The New York Times. August 28, 2010. http://www.nytimes.com/2010/08/29/opinion/29rich.html?pagewanted=all&_r=0 
  20. Sargent, Greg. “Our Surreal Debate Over Taxing The Rich”. The Washington Post. September 22, 2011. http://www.washingtonpost.com/blogs/plum-line/post/our-surreal-debate-over-taxing-the-rich/2011/03/03/gIQAJGkvnK_blog.html 
  21. Schlesinger, Robert. “Poll: Most Americans Support Obama Deficit Plan To Tax Rich”. US News And World Report. September 20, 2011. http://www.usnews.com/opinion/blogs/robert-schlesinger/2011/09/20/poll-most-americans-support-obama-deficit-plan-to-tax-rich 
  22. Seligman, Lara. “Gallup: Majority Of Americans Favor Tax Hikes On The Rich”. National Journal. September 21, 2011. http://www.nationaljournal.com/whitehouse/gallup-majority-of-americans-favor-tax-hikes-on-the-rich-20110921 
  23. Steinhauser, Paul. “New CNN Poll: Majority Want Tax Increase For Wealthy And Deep Spending Cuts”. CNN. August 10, 2011. http://politicalticker.blogs.cnn.com/2011/08/10/new-cnn-poll-majority-want-tax-increase-for-wealthy-and-deep-spending-cuts/ 
  24. Temple-West, Patrick. “Majority Of Wealthy Support Tax Increases On Millionaires: Poll”. Reuters. December 4, 2011. http://www.huffingtonpost.com/2011/10/04/majority-of-millionaires-tax-increases_n_994219.html 
  25. Thompson, Derek. “Gallup: Americans Support Obama’s Plan To Spend Now, Tax The Rich Later”. The Atlantic. September 21, 2011.  http://www.theatlantic.com/business/archive/2011/09/gallup-americans-support-obamas-plan-to-spend-now-tax-the-rich-later/245434/
  26. Webster, Stephen. “Poll: Huge Majority Of Americans Support Taxing The Rich”. The Washington Post. Tuesday October 11, 2011. http://www.rawstory.com/rs/2011/10/11/poll-huge-majority-of-americans-support-taxing-the-rich/ 
  27. Wolff, Richard. “The Truth About “Class Warfare” In America”. Truthout. Thursday September 22, 2011. http://www.truth-out.org/news/item/3513:the-truth-about-class-war-in-america 
  28. Zuckerman, Ed. “Poll: American Favor Jobs Plan, Taxing Rich”. Talk Radio News Service. September 21, 2011. http://www.talkradionews.com/opinion/newscommentary/2011/09/21/poll-americans-favor-jobs-plan-taxing-rich.html#.UgXMiGR4YU8

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