There is buzz everywhere about the Buffett Rule. What is the Buffett Rule? Well is seems that another one of the richest men in the world, Warren Buffett has decided to join the ranks of the taxers. Warren noted that he paid a lower tax rate than his secretary. But he pays his secretary a salary and he gets most of his money by risky investments (actually usually smart investments) in stocks. Berkshire Hathaway is the big dog on stock market acquisitions. His money is Capitol gain on stocks.
So here is the plan Barack Obama will announce the Buffett Rule saying once again the rich must pay their fair share. The kicker is he will be making this proposal to the unconstitutional Super Committee on the deficit.
But this is all political gamesmanship. Remember Obama wants four more years. I am not sure why as he has said more than once he does not like our system. Having to deal with a republic style government is difficult for him. He just wants to make it happen. So why then does he want to do four more years? Obviously he is a bad fit for the job. Let’s show him the door.
The answer lies in a truly “balanced” approach. Not the balanced approach as proposed by Obama and his advisers. We don’t need a Buffett Rule we need new tax rules across the board.
End the federal income tax.
Institute a fair or flat tax at a much lower rate. 10 to 15 percent on flat and even lower on the consumption based fair tax system.
Begin the process of reducing the size of Government. The Federal government is currently the largest employer in the country. That one fact is just wrong.
While there is a need for some regulation our current system gives too much power to unelected bureaucrats. There is no accountability for all the regulations that are imposed on the people. This is nothing but political cover for both parties. Any proposed regulations should be voted on by Congress. Every law that established an agency must be modified to say that no regulation shall be enacted without following the legislative process.
We need a to return to the citizen legislature. Term Limits and we the people need to vote on doing away with the pension and Cadillac health care provided to our elected officials. They give themselves that money and while the constitution does call for compensation for their service this was because the folks who started this whole thing were leaving their real lives to set up the government.
As for Warren Buffett his tale of woe is a paper tiger also. He could pay the feds anything he wants. Any citizen can send a check to the Government if they so wish. I wonder why up until now Buffett never felt guilty enough to do so. Besides you know he has a tax attorney on staff to reduce his taxes. Now he suddenly has an epiphany? Bull! Buffett just wants to make sure his empire will be safe when the system fails. Being buddies with the boss is the way to make that happen.
How about we do a people’s rule. That would be where all people pay fairly and our government works for us not against us.