Posts Tagged ‘middle class’

Mitt Romney: Liar, liar, pants on fire. Said he didn’t care about poor people, now brushes it off as “I misspoke”

February 3, 2012

Mitt Romney said he’s not concerned about the very poor because they have a safety net. And if the safety net needs repair he’ll fix it.

This proves he doesn’t care. If he thinks the safety net is OK he’s out of touch, and his out-of-touchness proves his lack of concern.

The safety net leaves millions of minimum- or low-wage earners without enough to feed, clothe, and shelter their families, leaves them dependent on emergency room visits for any medical care, and—if they’ve been unemployed for a long time—facing termination of their unemployment checks. And candidate Romney, along with nearly unanimous Republican Senators and members of Congress, are reflexively opposed to “fixing” the safety net.

But appearing so heartless can be costly to a Presidential candidate. So Romney tried to lie his way out of it, saying he misspoke. But he didn’t misspeak. Misspeaking is when I call my granddaughter by her sister’s name. Misspeaking is when John McCain tells a Romney gathering that he’s confident that President Obama will cure the nation’s ills. Misspeaking is not saying something, then when challenged explaining what you said. He didn’t misspeak.

The interview that got Romney into this mess went like this:

The candidate told CNN’s Soledad O’Brien on Wednesday that he’s “not concerned about the very poor,” explaining that he’s concerned about the middle class (more…)

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Warren Buffett calls for fair—that is, higher—taxes on the super-rich

August 15, 2011

The battle in Congress over America’s budget problem is both practical and ideological. People on the left argue that the budget can never be brought under control without a blend of tax hikes on the rich and spending cuts. On the right tea-party-fueled passions oppose any tax increase on the grounds that the rich are already paying more than their fair share and, moreover, that raising their taxes will stifle job creation.

Into this battle rides Warren Buffett, the world’s third richest person with assets of $50 billion. In an op-ed in today’s New York Times, headlined “Stop Coddling the Super-Rich,” Buffett demolishes both arguments against higher taxes for the super-rich.

First he explains how under-taxed the wealthy are: his tax rate of 17.4 % of taxable income is the lowest of the twenty people in his office, including his secretary. And that’s not uncommon for the super-rich. His summary:

While the poor and middle class fight for us in Afghanistan, and while most Americans struggle to make ends meet, we mega-rich continue to get our extraordinary tax breaks.

And as far as the argument that higher taxes will slow down investment by the super-rich in new jobs, America’s most successful investor puts it this way:

People invest to make money, and potential taxes have never scared them off. And to those who argue that higher rates hurt job creation, I would note that a net of nearly 40 million jobs were added between 1980 and 2000. (more…)