Notice that he is not talking about averages, he is talking about individuals, and in some cases, he is absolutely correct."Warren Buffett's secretary shouldn't pay a higher tax rate than Warren Buffett. There is no justification for it," Obama said as he announced his deficit-reduction plan this week. "It is wrong that in the United States of America, a teacher or a nurse or a construction worker who earns $50,000 should pay higher tax rates than somebody pulling in $50 million."
The Iraq war was a large (and the most wasteful) chunk of our national debt that you like to complain about. At least the money Obama spent was to help our own citizens that are hurting. Also, your 4 trillion figure is inaccurate. You are crediting him with some of the obligations made by Bush.
Please list for us the items that you claim Obama spent $ 4 trillion on?
Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb
its moronic his plan
and its moronic to believe that people making 50K a year are paying a higher effective income tax rate than someone making billions
the tax bracket for someone making 50K a year is 25%
the tax bracket for someone who makes 50 million is 35% but if ALL of their money is capital gains its 15%
but they pay an effective rate of 15% because that starts very early in their total income
the effective rate on someone making 50K a year (and that assumes no deductions whatsover) is far less than 25%
that is why buffett is dishonest. He is talking about the next marginal dollar rather on non like income because someone making 50K a year in Long Term capital gains is paying a far lower rate and a lower marginal rate
As for the 4 trillion, the 2009, 2010, 2011 deficits total 4 trillion dollars. You can find out by going to the U.S. Treasury site and look at the budgets.