Saturday, April 21, 2012

Buffet Rule - #3826 - VIDEO: Did the White House Fudge the Numbers on the Buffet Rule? - Hot Air


Did the White House Fudge the Numbers on the Buffet Rule? - Hot Air - The White House offered a white-board presentation on the need for the Buffett Rule, the surtax on the uber-rich — a term actually used by the White House in its presentation — that claimed that the effective federal tax rates on the wealthiest Americans falls slightly below that paid by teachers and cops. As Douglas Holtz-Eakin points out in this clip, however, a review of these cases shows a much lower income-tax rate in all of these categories except for the uber-rich. Why? As Fox News’ Jim Angle reports, that’s because the White House didn’t disclose that they added in Social Security and Medicare taxes: With the executive system we didn’t come up with 16%, we got 7%. And when we look at the teacher and the cop, we couldn’t get 19%, we got 10% and finally when we got to our doctor not 23…16%. And if you will notice, that looks like tax fairness. 7,10,16,18. More income you have, higher your tax rate. Read more.......

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