President Obama, Warren Buffett, the media and the Democrat Party for almost a year have repeated the same lie that Warren Buffet’s secretary pays a higher tax rate than the second richest man in America without pointing out they’re comparing apples to oranges of our progressive tax system.
It’s the kind of big lie that would make Goebbels smile from the gates of Hel for its deceitfulness. Warren Buffett earns his money, not by a salary like his secretary, but through capital gains on the buying and selling of stocks and dividends on investments at 15%. But, what President Obama and Buffett don’t admit to is that Buffett’s companies pay a 35% tax rate, the highest corporate rate in the world. So Buffett is being tax at least 50% when you add the corporate and capital gains together.
If Warren Buffett’s secretary is paid a six figure income, she’s paying between 28% to 35% in federal income taxes. That’s less than the at least 50% Buffett is paying not including a wholes hosts of other fess he’s paying.
Oh, did mention 47% of Americans pay no Federal income taxes—peried!
Nonetheless, President Obamna continues his Goebbels game plan to deceive the American public. How the man can sleep at night is beyond me.
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