While the President is campaigning on “tax the rich” you need to understand that it is you, not the rich, that are the ultimate focus of the Democrat’s plan.
The “Buffet Rule” is a drop in the bucket. Even the Treasury Department expects it to raise only some $4.7 billion per year, compared to our annual deficits under President Obama of $1.3 trillion.
Listen to what Mayor Michael Bloomberg has to say about “taxing the rich”.
And, were that not enough, listen to what Senator Charles Schumer (D. N.Y.) has to say about “taxing the rich”.
When you applaud “taxing the rich” because you are not “the rich”, you need to understand one thing. Taxing the rich is the Democrat’s version of “trickle down”, only in their version, it is not wealth that is trickling down, but rather higher tax rates that will trickle down, ultimately, to you.