September 17, 2011

Dear O: why not just repeal the Obama tax cuts?

President Barack Obama is now trotting out what's being given the PR moniker the "Buffett Rule," after Warren Buffett noting his secretary has a higher tax rate than he does. (Note that St. Warren of Omaha said bupkis about corporate tax rates, though.)

Dear Leader: Rather than trot out a new PR talking point while either not having any detailed plan yet (per Ron Suskind's new book, that would be totally unsurprising) or else while hiding what plan you have because you know it, too, is bupkis, why not just push now to repeal the Bush Obama tax cuts? You know, the ones you could have repealed last December if you really cared? 

That said, let's see if Dear Leader actually does something radical, like proposing to tax hedge fund fees like general income.

Also, the WSJ story compares the rollout of the "Buffett Rule" to the "Volcker Rule." Reality? Nearly two years later, we're not yet at its actual implementation; besides, speaking of hedge funds, it's riddled with loopholes anyway. Those loopholes include insurance agencies. Gee, wasn't AIG one of those?

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