Insulting our intelligence, yet again.
Via Politico:
President Barack Obama repeated his call Saturday for Congress to act on the so-called Buffett rule — calling the measure “common sense,” not class warfare.
The Buffett rule, named after billionaire investor Warren Buffett, was first floated by Obama late last year after a New York Times op-ed by the Omaha businessman encouraged Congress to raise taxes on the wealthy.
Since then, Obama has named his plan to raise taxes on investment income after Buffett — pointing to the fact that the billionaire’s secretary pays a lower tax rate than he does because of a system that taxes investment income at a much lower rate than salary and wages.
“Some people call this class warfare. But I think asking a billionaire to pay at least the same tax rate as his secretary is just common sense,” Obama said in his weekly address. “We don’t envy success in this country. We aspire to it. But we also believe that anyone who does well for themselves should do their fair share in return, so that more people have the opportunity to get ahead — not just a few.”