CNN Suggests Higher Taxes on Millionaires
CNN claims to be the moderate voice of cable news, but it certainly doesn't play the part when it shills for President Obama's tax plan. Obama has called for the Buffett Rule, or higher taxes on millionaires, and CNN helped him make his case in a one-sided segment Wednesday afternoon.
Anchor Brooke Baldwin begged for her viewers' attention before she aired Obama's liberal spin on taxes from his State of the Union address. She then highlighted millionaire Mitt Romney's low tax rate, "adding fuel to the fire that the incredibly affluent, the rich folks, pay taxes at a lower rate than the average person," she hyped. [Video below the break.]
Obama has called for the rich to pay their "fair share" of taxes, targeting the disparity in tax rates between the upper and middle classes. Of course, CNN is "adding fuel to the fire" in blaring such a disparity over and over. But then they hosted "economist" Ben Stein to give commentary. Stein agreed with Obama's words as "fair."
Baldwin acted surprised that Stein, a former speechwriter for Presidents Nixon and Ford and a contributor to the conservative magazine The American Spectator, favored Obama's position. To the contrary, Stein has repeatedly called for higher taxes on millionaires to help reduce the deficit.
And on Twitter, Baldwin continued to express amazement that a conservative like Stein would agree with Obama.
A brief transcript of the segment, which aired on January 25 at 2:28 p.m. EST, is as follows:
BROOKE BALDWIN: You say the word "taxes," and most people's eyes glaze over. Your ears shut down as soon as the subject matter comes up. But not now. Please don't glaze over, this is so important. This is huge, especially now in this political climate. Not with this.
(Video Clip)
BARACK OBAMA, President of the United States: We need to change our tax code so that people like me and an awful lot of members of Congress pay our fair share of taxes.
Tax reform should follow the Buffett Rule. If you make more than a million dollars a year, you should not pay less than 30 percent in taxes.
(End Video Clip)
(...)
BALDWIN: (to Ben Stein) My question to you, the President's tax proposal, is it fair, or does it penalize the successful?
BEN STEIN, economist and author: It's totally fair, and it's absolutely necessary.
(...)
BALDWIN: Ben Stein, are you agreeing with President Obama right here on CNN?
STEIN: Well I'm agreeing with him about that.
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Comments
First of all,
Submitted by bkeyser on Wed, 01/25/2012 - 7:38pm.
just WTF is the Buffett Rule? I've looked for details but none seem to be available. Obama says he wants millionaires to pay at least 30% on income, and yet the current tax rates call for 33% on $174,400 – $379,150 for single filers and 35% on $379,150+ for all filers. Is he proposing the top two brackets be dropped to 30%? Well, of course not. I assume he's proposing limiting deductions or applying a required minimum tax rate of 30% when deductions allow for net taxes owed below that level, and I'm assuming he means for $1,000,000+ only.
But if that's the case, what revenues will result? My guess is not enough to fund one day of federal spending at the current Obama rate, though I'm looking forward to someone's math on that. But even if it's two days, or three days, what's the point other than to punish high-earners and score political points with his base? I know, I know- that's the point. And maybe that's why there's no details available on this supposed Buffet Rule that'll have zero effect on Warren Buffett or Mitt Romney.
Shilling for this "plan" certainly exposes the media for what they are: blind followers of Obama and inherently too stupid to realize the change would be mostly meaningless.
⇒ Do you know the Buffett rule?
Submitted by Cool Arrow on Wed, 01/25/2012 - 7:47pm.
The "Buffett Rule" states that any CEO whose company owes more than $1 billion in back taxes, but complains about not paying enough personal taxes, gets a pass on his company's taxes.
Pretty simple and straightforward. Now, shall I explain the "Immelt Rule"? The Geithner Rule?
Those Other Rules
Submitted by amlaml on Wed, 01/25/2012 - 7:57pm.
The Immelt Rule: If you are the CEO of a company and serve on the President's "job council" you get tax money back, so long as the stations you partially own do nothing but sing the praises of the Obama Administration and Democrats in general while saying large corporations need to pay more taxes.
The Geithner Rule: If you are a Democrat, especially if you serve in government, you can call for higher taxes on the "rich" without actually paying your own. I hear they also considered calling it the "Rangel Rule".
Was I close?
⇒ Absotively and posolutely
Submitted by Cool Arrow on Wed, 01/25/2012 - 8:04pm.
Your answer is correct, but everybody gets a trophy in Obamaland.
we can include all the rules
Submitted by jkwtrading on Wed, 01/25/2012 - 8:21pm.
we can include all the rules in the room they were formed.. Outhouse..
Pelousy and Reid rule
Submitted by Boudin on Wed, 01/25/2012 - 8:07pm.
If you can set up to take advantage of Gov contracts, do it, just share with your friends, ; ]
Also see Fienstien: regarding defense contracts.
Another Pelosi rule
Submitted by Cool Arrow on Wed, 01/25/2012 - 8:22pm.
It is better to kill the tuna canning industry in American Samoa than admit an increase in the minimum wage really does affect jobs.
Personally I prefer...
Submitted by OldJarhead77 on Wed, 01/25/2012 - 8:26pm.
The Jimmy Buffett Rule.... IT'S 5:00 SOMEWHERE!!!
Nyuk, nyuk, nyuk
Submitted by bobsmom on Wed, 01/25/2012 - 8:45pm.
got a full belly laugh out of that one! Thanks Jar, gonna go have me a cheeseburger in paradise right now!
Because nobody is that
Submitted by ray johnson on Wed, 01/25/2012 - 7:58pm.
Because nobody is that stupid, it has to be deliberate lying, or misleading as the euphemism goes....but, we're all pretty used to the media propaganda. That they take the lib side of things must be because it's easy, puts them in a favorable light, and results from being schooled in lib dens of "education" - ivy league and ultra commie colleges, and being intellectually lazy.
Pigs don't fly and Obama idea
Submitted by jkwtrading on Wed, 01/25/2012 - 8:19pm.
Pigs don't fly and Obama idea to add a tax won't either. he might as well be sniffing the pigs butt, like a good ol dog.
What does more taxes on the rich accomplish?
Submitted by Order270 on Wed, 01/25/2012 - 8:18pm.
He has to be trying to get everyone used to less so he can have more. And btw, Obama falls in that million dollar category and gets a $12,000 refund. I call that rampant Government Greed.
Destroys wealth,
Submitted by Boudin on Wed, 01/25/2012 - 8:30pm.
Thats about it,
My idea:
Submitted by Dave the mailman on Wed, 01/25/2012 - 8:25pm.
Let them levy heavy taxes on the stupid and the lazy. We'd reduce our debt in no time.
Is it really fair
Submitted by Radical1979 on Wed, 01/25/2012 - 8:31pm.
to foist the whole tax burden on DC, NYC, and California?
Yeah, I guess it is.
Okay Babbling Brooke
Submitted by bobsmom on Wed, 01/25/2012 - 8:35pm.
Do you realize that "them" (the millionaires) are "you" and your ilk? Holy Moly. They is in for a big azz surprise methinks.
Have Ted Turner give ALL of his income....
Submitted by stage9 on Wed, 01/25/2012 - 8:46pm.
first, and then we'll negotiate the others CNN.
"If God is dead, somebody is going to have to take his place. It will be megalomania or erotomania, the drive for power or the drive for pleasure, the clenched fist or the phallus, Hitler or Hugh Hefner." — Malcolm Muggeridge
I wonder if Buffet's
Submitted by ricklail on Wed, 01/25/2012 - 8:57pm.
I wonder if Buffet's secretary has investments? If she does she pays the same rate on them as Romey. I'd be willing to bet that Buffet sees that she gets all the tax breaks she is entilted to. I bet his headquaters are in a state that has either no income tax or a low income tax. These questions need to be answered before Obama uses this woman as a prop again.
rick
Submitted by Radical1979 on Wed, 01/25/2012 - 9:06pm.
I saw somewhere today that if Buffet's secretary is paying over 15% then she's got an income of between $250,000 and $500,000. Really hard to have sympathy for her knowing that.
Hummmmmmmm
Submitted by donabernathy on Wed, 01/25/2012 - 9:05pm.
Seems to me If Warren Buffett pays a lower tax rate than his secretary. The FAIR SOLUTION is to lower HER TAX RATE. Not Raise His. but what do I Know..... I don't subscribe to share the misery.
roflmao
Tax rate is inversely proportional to the number of pages filed.
Submitted by upcountrywater on Wed, 01/25/2012 - 10:20pm.
GE files 57,000 pages and pays no tax on 4 billion. Romney files about 400 pages and pays 4 million. My guess is buffet's business filed about 13,000 pages on a billion allegedly owed and the lawyer fees are less than the interest on a billion bucks.
The future growth business...
You Didn't Build That.
And this will balance the
Submitted by ant on Wed, 01/25/2012 - 10:38pm.
And this will balance the budget, solve the deficit and our unfunded future liabilities? If not..then what's the point? Besides gearing Occutards up for chaos and the resulting martial law.