SOTU Confused You Too?
The logic of Obama’s State of the Union speech… well, after dozens of rewinds, I struggled with the logic and facts.
The whole Warren Buffet/capital gains thing. The part where Buffet’s secretary Debbie Bosanek sat near the First Lady and the camera zooms in, remember?
If I got that, Buffet’s secretary pays 34%; Buffet pays 17.4%.
Wait a minute.
Did we leave out something?
That 17.4% is on his salary.when they receive a salary.
And, should the individual profit from investing any of that salary in, say, the stock market, they are subject to another 15% tax for capital gains.
You missed that?
Probably millions of other voters, too.
Once again, we conveniently skipped over double taxation and the difference between income taxes and the tax on capital gains. It’s all lumped together.
Void of context, overly simplistic.
Me, I’m for Cain’s 9-9-9. The government has sucked enough out of job creators in this nation; it’s time they switched the focus to spending less. If what I heard in the SOTU address comes to pass – well, just pray it doesn’t. A hike in capital gains – Obama was pitching 25-28% in his ’08 campaign – will only further discourage new investment and hiring. That’s how we get the real estate market back on its feet?