The Corner

Buffetts and HENRYs

Every once in a while, President Obama, when he freelances, exposes his inner-core ideology and the fact that he has little acquaintance with how the real world works. In his Q & A Monday, he explained again the necessity for people like Warren Buffett and himself to give up in taxes “hundreds of thousands of dollars I don’t need.”

It is going to be difficult for a great many of those “millionaires and billionaires” subject to the Obama tax rates to pay those extra “hundreds of thousands of dollars,” because they only make $200,000.

Does he not realize that the little company tending the lawn around Warren Buffett’s home probably pays the same income-tax rate that Buffett pays? And that his tax-rate increase on the “wealthy” would raise that firm’s taxes the same? According to the Obama vision, money you have earned is basically on loan from the government until our president deems you don’t “need” it anymore.

I think about the guy or gal who has worked their way up the ladder to finally reach the $200,000 taxable income level, who has a medical emergency or who is the sole source of income for an invalid parent. I wonder if they think they “need” every dime they earn.

There are very few Buffetts, and President Obama probably knows most of them. But we’ve got quite a few H.E.N.R.Y.s (High Earning Not Rich Yet).

I wonder if our president knows any of them.

Most Popular

Culture

Krauthammer’s Take on Life

Dear Reader (And members of the Remnant everywhere), My plan was to do something new this week: Write a “news”letter in which the number and ratio of consonants to vowels in each word advanced in accordance with the Fibonacci sequence until, like a pointillist painting, seen from afar this “news”letter ... Read More
PC Culture

When PC Comes Back to Bite You

Political correctness run amok is a popular topic on the right these days. Indeed, the conservative bookshelf is chock full of best-sellers devoted to the topic. Subject matters vary. One may focus on the hypocrisy of campus speech codes, another on the revisionist attempt to indict our founding fathers, yet ... Read More
Politics & Policy

Charles Krauthammer, R.I.P.

It’s not often that the loss of an opinion writer can be said to be a loss for the country, but that is true of Charles Krauthammer, the Pulitzer Prize–winning columnist who died yesterday. In a fractured media environment where almost no one commands universal respect, where crudity of expression and ... Read More
Politics & Policy

Time Stands by Misleading Cover Photo

Time magazine on Friday defended its decision to feature a photo of a crying toddler who was never separated from her mother on the cover of its July issue detailing family separations at the border. “The June 12 photograph of the 2-year-old Honduran girl became the most visible symbol of the ongoing ... Read More