By Douglas V. Gibbs
The Alternative Minimum Tax was part of the general Tax Reform Act of 1969. The goal of the policy was to force individuals with high incomes, who may be able to benefit from tax breaks in the tax code, to pay a minimum tax no matter what. The idea was to ensure that those who may use the code to pay no taxes, wind up paying taxes.
Today, there seems to be a small few large corporations who paid either no tax at all or taxes which represented very low effective rates.
Somehow, the alternative minimum tax didn't kick in, and the liberal democrats want to make sure those companies "pay their fair share."
Claiming that Warren Buffet paid less in taxes than his secretary, Obama is working to re-create the Alternative Minimum Tax all over again without getting rid of the original AMT. In other words, the democrats are doubling down.
This attempt to ensure tax is paid by the wealthy is called the Buffett Rule.
Obama plans to allow the Bush tax cuts to expire, and he is working to increase taxes above and beyond those.
In the long run, these taxes won't just be on the rich, but will reach down into the lower levels as well in the form of taxes and consumer cost increases imposed by the producers to offset the "tax the rich" attacks against them.
Now, Obama is talking about tax increases as a part of his jobs bill.
Have you ever come across a business owner that said, "Whew, here comes those tax increases, now I can start hiring."
Yes, I realize the government can't create jobs. Besides, Obama knows nothing about how to create jobs, anyway. I don't even think he's run a lemonade stand, much less learned anything about how the private sector works.
Barry seems to think that the way to create jobs is to raise $1.5 trillion in taxes, and to spend $445 billion more. But is that money getting distributed to those poor ol' poor people? Of course not. It's going to government. We are $16 trillion in debt, and nobody knows where it is being spent. Some of it is going to people who don't work, other globs of it will be redistributed to union people so that most of it can come back to the Democrat Party in a money laundering scheme. No jobs, just more spending, and tax increases.
Obama has already wasted a trillion dollars on the stimulus. Now he wants another trillion and a half to toss out the window. But none of it has anything to do with jobs.
Then he says that he wants to change it all because it is unfair when the rich pays 15% and Buffet's secretary is paying 39% in taxes.
Excuse me?
Even the Associated Press doesn't believe that load of crap.
The AP did a fact check on Obama's claims, and concluded "On average, the wealthiest people in America pay a lot more taxes than the middle class or the poor, according to private and government data. They pay at a higher rate, and as a group, they contribute a much larger share of the overall taxes collected by the federal government."
So how in the hell did Obama come to the conclusion that they aren't paying their fair share?
It's a liberal thing. Even in the face of facts, they believe their own bull crap.
In Obama's case, he's bought so much into his own B.S. that he even believes the messiah complex crap. He doesn't understand why everyone isn't making a big thing over him anymore. He is angry. He is lashing out. You can see it in his speeches as he accuses the Tea Party of interference, and the GOP of not cooperating. He's blaming everyone for his failures because he doesn't believe what is going on.
In the end, he's either a liar, a Marxist, or an idiot.
I tend to think he's all three.
-- Political Pistachio Conservative News and Commentary
FACT CHECK: Are rich taxed less than secretaries? - Associated Press
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