The coolest place on the internet, according to this tagline.
AskArchiveFAQ

April 24, 2012
10:32 // 2 years ago
April 13, 2012

Obama’s 2011 tax returns wouldn’t fall under the Buffet Rule

  • $789,674 in income for Obama during 2011, according to his just-released tax returns released Friday
  • $162,074 the amount the president paid in taxes on that income, which is a 20.5 percent tax rate source

» A dip from prior years: Obama’s taxes show a dip in income from his book sales — which earned him millions of dollars in prior years — to the point where it makes up roughly half of his income in 2012, with the other half coming from his presidential salary. The president, it turns out, made under the $1 million in income that would force him to pay higher taxes under his proposed “Buffett Rule.” Obama certainly isn’t struggling, though his income doesn’t compare to what his likely GOP competitor, Mitt Romney, has made in recent years. In other news, we’re betting this post is reminding you that you forgot to do your taxes. Better get on that!

Read ShortFormBlogFollow

11:15 // 2 years ago
April 11, 2012
We could call it the Reagan Rule instead of the Buffett Rule. I’m not the first president to call for this idea that everyone has to do their fair share.
President Barack Obama • During a speech before a group of executives at the White House, the second pitch he’s made for the policy in as many days. The President said he agreed with critics who claim the policy doesn’t put a large enough dent in our debt, saying that the absence of a complete fix was not an excuse for inaction, and that it would be “something that will get us moving in the right direction.” Obama also took aim at Republican opposition, saying, “If Republicans in Congress were truly concerned with deficits and debt, then I’m assuming they wouldn’t have just proposed to spend an additional $4.6 trillion on lower tax rates….for every millionaire in America.”source (viafollow)
15:51 // 2 years ago
February 13, 2012

Three things you should know about Obama’s forthcoming budget plan

  • cuts While still leaning on the “Buffett Rule” that he’s been pushing for months and planning to end the Bush tax cuts for the super-rich, Obama’s plan would also cut $2.50 for each dollar raised from tax proposals affecting high income-earners.
  • jobs With the GOP blocking much of Obama’s job plan last year, he’s taking another try at it, offering up $350 billion in job-growth spending, which includes $50 billion to improve infrastructure and $60 billion to modernize schools.
  • defense Echoing the words of Secretary of Defense Leon Panetta, the budget proposal would cut non-war spending. However, automatic cuts set to kick in next year will likely get replaced by a “balanced deficit-reduction package.” source

Read ShortFormBlogFollow

10:02 // 2 years ago
October 12, 2011

Warren Buffett made lots of money in 2010, paid fairly low taxes

  • $63 million dollars in 2010 alone for Mr. Berkshire Hathaway source

» And he only paid 17.4% in taxes: Buffett, whose monetary gains are the subject of scrutiny because of the fact that he’s the inspiration for Obama’s “Buffett Rule" (a notable part of the president’s jobs plan), released the earnings after being prodded by Rep. Tim Huelskamp of Kansas, a Republican. Of note: Just $39,814,784 of his earnings were taxable, with the rest going to deductions and exemptions (like, say, his fairly robust charitable givings). And in case you’re wondering, Warren’s tax rate is low largely because he makes most of his income through investing. In the end, how much did he pay in taxes? A paltry $7 million (or a mere nine percent in taxes on adjusted gross income).

Read ShortFormBlogFollow

20:16 // 3 years ago
October 3, 2011
x

With this weekend of arrests, this seems like a great way to end it. Warren Buffett knows the score. Love how the reporter is like “it won’t do anything,” and he just drops the $20 billion number off the top. Can’t get anything past him. (via Percolate)

0:20 // 3 years ago
September 19, 2011
The money has to come from somewhere. So why not the rich? “We are not going to have a one-sided deal that hurts folks that are most vulnerable,” he says. Let’s see what he says in six months.

The money has to come from somewhere. So why not the rich? “We are not going to have a one-sided deal that hurts folks that are most vulnerable,” he says. Let’s see what he says in six months.

(Source: CNN)

11:16 // 3 years ago
Middle-class families shouldn’t pay higher taxes than millionaires & billionaires. It’s hard to argue against that.
President Obama (via thedailyfeed)
11:13 // 3 years ago
We can’t afford these special rates for the wealthy. They were meant as temporary measures.
Obama • Explaining his reasoning for the “Buffett Rule.”

(Source: CNN)

11:11 // 3 years ago
Coming soon: Obama’s press conference where he reveals his $3 billion trillion debt-reduction plan, including the “Buffett Rule.” Watch live at the link above.
Edit: He’s speaking now.

Coming soon: Obama’s press conference where he reveals his $3 billion trillion debt-reduction plan, including the “Buffett Rule.” Watch live at the link above.

Edit: He’s speaking now.

10:36 // 3 years ago