Biden Pushes “Patriotic” Tax Hike on the Rich

April 13th, 2012

FAKE NEWS for the Zionist agenda

JACK KENNY
The New American
Friday, April 13, 2012

Vice President Joe Biden Thursday repeated one of the controversial statements he made in the 2008 campaign. Speaking in Exeter, New Hampshire, Biden said it is patriotic for rich people to pay more in taxes than they do now, and the wealthy know it.

“Wealthy people are just as patriotic as middle-class people, as poor people, and they know they should be doing more,” Biden said. “We’re not supposed to have a system with one set of rules for the wealthy and one set of rules for everyone else.”

Biden ripped probable Republican presidential nominee Mitt Romney and Republicans in Congress for opposing Democratic efforts to enact what they call the “Buffett Rule” to increase taxes on those whose income exceeds $1 million a year. The “rule” is named after billionaire investor Warren Buffett, who has publicly stated that his secretary pays more in taxes than he does and that he and others like him should be taxed at a higher rate. Income from capital gains and dividends is taxed at a lower rate than salary or hourly wage income. Romney, a multi-millionaire, acknowledged in January that most of his wealth is from investments, including numerous overseas ventures, and that he pays taxes at a rate of about 15 percent. The top tax rate on earned income is 35 percent. Biden said that instead of the “Buffett Rule,” Republicans want a “Romney Rule” to protect tax cuts for the wealthy.

The Obama administration has been promoting its case for higher taxes on the rich on the White House website, with a calculator that encourages visitors to the site to compare their tax liabilities with those of millionaires. “Guess how many millionaires pay a lower tax rate than you [HINT: It’s at least 5,000] Try our #BuffettRule calculator: wh.gov/buffett-rule,” said a post from the official White House Twitter account.

Biden’s speech in New Hampshire included several references to Romney’s personal wealth, as the Vice President suggested the former Massachusetts Governor is “out of touch” with the concerns of poor and middle-class Americans.

“Governor Romney calls the president out of touch,” Biden said. “Hey, how many of y’all have a Swiss bank account?”

The Romney campaign was quick to respond. An e-mail sent out by the “Romney Press Shop” ridiculed the Vice President’s comments as a repeat of what it called his 2008 “gaffe.” Biden in the campaign of four years ago defended the plank in the Democratic Party platform that called for higher taxes on those making more than $200,000, along with tax cuts for middle- and lower-income families, in order to pay for healthcare and other government programs.

A d v e r t i s e m e n t

“It’s time to be patriotic,” Biden said in a September 2008 interview on ABC’s Good Morning, America. “Time to be part of the deal. Time to help get America out of the rut. And … they’re still going to pay less taxes than they paid under Reagan.”

“Only in Obama fantasy land,” Romney spokesman Ryan Williams said in Thursday’s press release, “are higher taxes patriotic — along with higher unemployment, higher deficits, higher government spending and a higher national debt.”

Left unaddressed, apparently, is the question of whether the tax rate on investment income is too low or the rates on earned income are too high. The patriots of the founding generation, who had rebelled over taxes on tea and on paper (the Stamp Act) might not have looked kindly on the government taking up to a third or more of anyone’s wealth, regardless of its source.

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5 Responses to “Biden Pushes “Patriotic” Tax Hike on the Rich”

Aside for the fact that the “personal income tax” is unconstitutional and illegal to begin with, so is charging more or less of a tax. All taxes are apportioned. Whether you are rich or poor, the idea is every one pays the same rate so, no one gets jealous or feels oppressed.
To ask the “rich” to pay more, is unconstitutional. In my opinion; they earned it, they keep it.
The down side to this promotion of “millionaires” paying more; you may not be a millionaire, so to speak but my have assets totaling over a million. Well, as a small business owner, or what have you, struggling to make ends meet, you just got nailed with a higher tax rate.
You might have a “income” for your self of, say, $75-80k but because the assesed value on your business is a mill or more, you are now thrust into paying a higher percentage on your personal income.

They want to crush the middle class more. The “rich” can afford it but who they are deeming “rich”, aren’t.

Way to go, moron. They know exactly what they are doing and all the sheeple are behind them “yea, eat the rich! YEA, they should pay more!”. People should think about what they ask for. You are broke and struggling to make it but, by your own hand, you are now going to be considered “rich”. Dumb fucks. Pay attention. If you’ll ever be able to afford at least that any more.

Chrisballs Reply:
April 13th, 2012 at 10:59 am

A good way to kill off small businesses.
Joe Biden is a full on retard
PATRIOTS DONT PAY TAXES, SLAVES DO.

THE USA FUNDS GOVERNMENT OFF OF CORPORATE TAXES,

YOUR 30% INCOME TAX GOES TO THE IMF TO ENSLAVE THE WORLD INTO GLOBALISM.
If you Google income tax rate charts for the last century you will see that the tax rate on millionaires was at one time as high as 90%, and the millionaires paid it because it was considered a “patriotic” thing to do as we had so much infrastructure in this country to be built, and it got built thanks to those taxes.

We now have a great interstate highway system, electrical grid, water and sewer systems, flood control, a strong military, safe food supply, etc. the list goes on and on.

The charts on wages also tell that during the Clinton years when the tax rates on millionaires was higher than today, wages went up, and we actually had a surplus! With the Bush tax cuts, wages were flat, and our national debt had skyrocketed due to both wars being paid for by billions of borrowed money from the Chinese, and our dollar value went from 120 to around 80 where it is today.

Besides, millionaires are making out like bandits as never before because borrowing costs on capital have never been lower, and that is why the top 1% have had there incomes increase the most the last decade percentage wise.

So you can cry all you want that millionaires are so mistreated in this country, but read your history and you will see that the system is gamed in the last decade as never before in their favor, while you and I in the middles class have gotten screwed the most!