In his article published in yesterday's Washington Post, Charles Krauthammer poses this question -
As an approach to our mountain of debt, the Buffett Rule is a farce. And yet Obama repeated the ridiculous claim again this week. “It will help us close our deficit.” Does he really think we’re that stupid?
Sorry, Charles, but Americans are that stupid.
At least, most Washington Post readers are.
In a poll in today's Post, the question is -
Do you agree with Charles Krauthammer's opinion that "as an approach to our mountain of debt, the Buffett Rule is a farce"?
Sadly, the majority of Washington Post readers voting in the poll said "no". True, the poll isn't scientific, but as of this writing, 57% believe that the so-called Buffett Rule will substantially reduce the nation's debt.
Krauthammer points out that, according to the Joint Committee on Taxation, "this new tax would yield between $4 billion and $5 billion a year. If we collect the Buffett tax for the next 250 years — a span longer than the life of this republic — it would not cover the Obama deficit for 2011 alone."
He goes on - "The Buffett Rule redistributes deck chairs on the Titanic, ostensibly to make more available for those in steerage."
No question about it. We need to replace Obama this election. If he wins reelection, we can say that we as a nation have gone past the point of no return. The entitlement mentality is destroying the country and if the people return him to office, then obviously, it's too late to bring the country back from the brink.