And it will devastate the middle class-not the really wealthy. Oblahblah just LOVES this plan.
‘Occupy Wall Street’ Tax Proposal Is Backed By Wall Street Itself
There’s no better way of deciding an outcome than owning both sides of the debate. That’s why the Wall Street-owned Obama administration must be licking its lips at the fact that ‘Occupy Wall Street’ protesters have been conned into advocating new tax policies backed by billionaires like Warren Buffett and Bill Gates that will do nothing to touch Wall Street, but everything to sink what’s left of the American middle class.
The Occupy Wall Street protesters are campaigning for the Obama administration to “Pass the Buffett Rule on fair taxation, so the rich pay their fair share.” This demand is posted on their own website. The campaigners are demanding that the US Congress pass a bill backed by the Obama administration, which is comprised of Wall Street operatives and is a creature of Wall Street.
Do you see the dichotomy here?
The protesters are pushing for a new tax rule which is supported by the Wall Street-owned Obama administration, therefore the demonstrators are unwittingly doing the bidding of Wall Street itself.
The “Buffett tax rule” will do virtually nothing to make the ‘filthy rich pay their share’ – it will only raise taxes for middle class Americans and middle class businesses.
As the Wall Street Journal reports, “Roughly 90% of the tax filers who would pay more under Mr. Obama’s plan aren’t millionaires, and 99.99% aren’t billionaires.” It is the middle class – not Warren Buffett or Wall Street corporations – who will be most hurt by the very policies the ‘Occupy Wall Street’ crowd are calling for.
Warren Buffett’s Berkshire Hathaway still owes taxes from 10 years ago. Buffet is the ultimate Wall Street insider – he is the third wealthiest person on the planet. Buffet avoids billions in taxes because most of his interests are based offshore...
Buffett, aided by the Occupy Wall Street protesters who amplify his message, is volunteering the middle class, not himself, for a tax increase, that’s why the Wall Street-owned Obama administration is fully on board with the idea.
“No differences exist between the Obama administration and billionaire investor Warren Buffett on the principles of a White House tax proposal that bears his name, Jay Carney, President Barack Obama’s spokesman,” told Bloomberg...
More at the link.