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Buffett Rule, Obama’s Bait and Switch

Posted by Steve Markowitz on April 12, 2012

During the run for his first term, the President did not have to protect a record or tangible proposals.  Instead, Obama ran on the nebulous promise of “Hope and Change“, as well as the public’s dissatisfaction with the Republican Party.  That approach which was so successful cannot work for his run for a second term.

President Obama is in full reelection mode.  It has become clear that a major tactic he will use for his run for a second term will be to pit subgroups of Americans against each other.  This became apparent as he is weighed in on the tragic shooting of Trayvon Martin.  It is also evident in Obama’s persistent use of class warfare.

This week the president again called for the so-called “Buffett rule” that aims to increase taxes on wealthier Americans.  Initially, the President justified increasing taxes on the wealthy as a way to address this Country’s huge deficit.  That has since morphed into a more foggy call for “fairness” and for good reason.  The fact is that no matter how aggressive the IRS soaks the “wealthy”, it will hardly put a dent into America’s real problem, excessive spending.

Yesterday, Rick Santelli of CNBC, added theatrics to a presentation that showed how little increasing taxes on the rich will cut into America’s ballooning deficit.  Santelli’s clearly shows that America has a spending problem, not one of inadequate taxes.

 

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