Political pandering week by week

It's a campaign year and thus far each week or two has seen the Obama campaign harping on one thing or other.

It's been the War on Women, Racisim, and this week it's back to the Buffet Rule for solving the federal budget crisis. The Buffet Rule's main focus is that the rich should pay more in taxes. Funny how this works since Warren Buffet's company owes and has owed, over 1 billion dollars in back taxes. This is just not information coming from strictly conservative Buffet haters, even the Huffington Post took note.

But as I mentioned, this "make the rich pay more" is merely this week's DNC campaign meme. One CBS reporter wrote that by his count, the most recent Buffet Rule push is the 20th time Obama has used this in speeches since the State of the Union. Watch for all the spokemen heading for cable news shows pushing this once again. It's gotten so there are a handful of things in the regular rotation.

Comments

[Ron]

I would like to see, and wish the Republican leaders would propose, a 5% income tax surcharge for the next 5 years on those having incomes over $500,000 per year. This proposal would include spending cuts equal to the taxes generated by the tax surcharge. Of course, these spending cuts would have to take affect immediately and not years in the future.

[Frank]

Almost all large corporations protest their tax assessments. That was my job in IRS Appeals. A normal practice.
They are audited in two or three year cycles. Protest the findings and eventually the issues are resolved in Appeals settlements or litigation. Most are timing issues, as to which year income must be reported or expenses deducted, or the category of income, i.e ordinary or capital gain, etc.. Congress created the appeals issues. Burma Shave.