In the end, free societies get the governments they deserve. So, if the American people wish to choose their chief executive on the basis of the "war on women," the Republican theocrats' confiscation of your contraceptives or whatever other mangy and emaciated rabbit the Great Magician produces from his threadbare topper, they are free to do so, and they will live with the consequences.
This week's bit of ham-handed misdirection was "the Buffett Rule," a not-so-disguised capital-gains tax hike designed to ensure that Warren Buffett pays as much tax as his secretary.
If the alleged Sage of Omaha is as exercised about this as his public effusions would suggest, I'd be in favor of repealing the prohibition on Bills of Attainder, and the old boy could sleep easy at night.
But instead every other American "millionaire" will be subject to the new rule — because, as President Obama said this week, it "will help us close our deficit."
Wow! Who knew it was that easy?
A-hem. According to the Congressional Budget Office (the same nonpartisan bean-counters who project that on Obama's current spending proposals the entire U.S. economy will cease to exist in 2027) Obama's Buffett Rule will raise — stand well back — $3.2 billion per year. Or what the United States government currently borrows every 17 hours.
So in 514 years it will have raised enough additional revenue to pay off the 2011 federal budget deficit. If you want to mark it on your calendar, 514 years is the year 2526. There's a sporting chance Joe Biden will have retired from public life by then, but other than that I'm not making any bets.
Let's go back to that presidential sound bite: "It will help us close our deficit."
(Excerpt) Read more at news.investors.com ...