Tag Archives: Buffett Rule

Jon Lovitz Nails Obama on Hannity

JLov

By now, most readers know about Jon Lovitz’s tirade against President Obama’s “Tax the Rich” philosophy.  His opinion on this matter has been so popular that he’s been asked to discuss it on cable news several times now.  In one of his more articulate appearances, he explains to Sean Hannity that as a “rich business owner”, his employees get paid, but more often than not, he “doesn’t make a dime”.  It’s a pretty thought provoking look at an issue that America likes talking about, but doesn’t seem to like resolving.  Stick around for the end, when Lovitz asks Sean “if he’s from Kenya”.

Oops! Obama’s Secretary Pays A Higher Tax Rate Than He Does

Does anybody remember President Obama moaning about Warren Buffett paying a lower tax rate than his secretary?

Well guess what, the Anointed One pays a lower tax rate than his secretary.

(From ABC)

President Obama today released his 2011 federal income tax, with he and his wife reporting an adjusted gross income of $789,674. The Obamas paid $162,074 in total tax – an effective federal income tax rate of 20.5%. The Obamas also reported donating approximately 22% of their income to charity — $172,130.

President Obama has been making a big political push for the “Buffett Rule,” which would require millionaires to pay a minimum of 30% of their income in taxes. To illustrate the point, the president has pointed out that billionaire investor Warren Buffett pays a lower tax rate than does his secretary.

President Obama’s secretary, Anita Decker Breckenridge, makes $95,000 a year. White House spokeswoman Amy Brundage tells ABC News that Breckenridge “pays a slightly higher rate this year on her substantially lower income, which is exactly why we need to reform our tax code and ask the wealthiest to pay their fair share. ”

It should be noted that president would not be impacted by the Buffett Rule, though he would see his taxes go up if the so-called Bush tax cuts on higher income wage-earners were allowed to expire, as the president says he wants.

-Jake Tapper

So…. How’s he going to spin this one?  Or will he even bother?  It’s not like Mr. Hope and Change has much shame, anyway.