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Michael Bloomberg Slams Obama’s ‘Buffett Rule,’ Calls It ‘Just Theatrics’

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» 69 comments

Yesterday we brought you a clip from New York Mayor Michael Bloomberg’s appearance on Meet the Press (short story: like so many others, he’s a Chris Christie fan). However, there was another interesting moment in the program. In it, Bloomberg weighed in on the month’s big issue of contention, raising taxes on the rich, and came out strongly against the President Obama’s so-called “Buffett Rule.”

On the whole actually, Bloomberg wasn’t too negative towards the President. In fact, his comments that Obama had “tried some things he liked and some things he didn’t” for the economy weren’t too different from his comments on Christie. However, the Mayor made it clear that one of the things he didn’t like was raising taxes on the rich.

“I think it’s not fair to say that wealthy people don’t pay their fair share. They pay a much higher percentage of their income, they have a higher rate than people who make less. The Buffett thing is just theatrics. If Warren Buffett made his money from ordinary income rather than capital gains, his tax rate would be a lot higher than his secretary’s.”

So that’s another person against the plan. Of course, it’s also another billionaire against the plan. Eventually it would be nice to hear what an honest to goodness poor person has to say. It shouldn’t be hard to find out. I mean, these days those people are everywhere!

Watch the clip from NBC below:

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  • http://www.facebook.com/people/Dronetek-Bulk-Vanderhuge/100000918732763 Dronetek Bulk Vanderhuge

    “it’s also another billionaire against the plan. Eventually it would be nice to hear what an honest to goodness poor person has to say.”

    You cant refute the fact Bloomberg stated, so instead you’re just going to dismiss him as “another billionaire”? You go on to say:

    “It shouldn’t be hard to find out.”

    You’re right, it isn’t. Why didn’t you do the research and find that Bloomberg is correct? The rich pay a larger percentage of their income than everyone else? It’s because you’re another pro-Obama activist who’s trying his darndist to “make this a successful presidency”. 

  • RACE BAITING@6 RESIST WE MUCH!

    Uh oh …. later tonight he’ll be called a racist teabagger on MSDNC

  • Anonymous

    Off-course he is not happy, perhaps maybe, just maybe, he will start to pay the right tax. This is going to hit his sector the most, if you know wall street, then you know Bloomberg is a big name. 

  • Anonymous

    “So that’s another person against the plan. Of course, it’s also another billionaire against the plan. Eventually it would be nice to hear what an honest to goodness poor person has to say.”

    You mean an honest to goodness poor person…as long as they agree with you.

    I’m not poor but I’m no where near rich.  I think the rule is stupid and Obama is constantly lying during his speeches about it.  ”Millionaire’s & Billionaire’s” don’t pay more in taxes than secretaries or janitors.  To say they do is lying.  There may be a few whose income is based solely on capital gains but for the other 90+% they are paying a hell of a lot in real dollars and as a percentage of income.   

  • http://pulse.yahoo.com/_NWVKX2P2QBPQ6FHQHCHVIC2ALQ Fedup in Florida

    “Eventually it would be nice to hear what an honest to goodness poor person has to say. It shouldn’t be hard to find out. I mean, these days those people are everywhere!”

    OK…  Here’s what a poor person has to say…..

    http://www.youtube.com/watch?v=19v5Kjmc8FI

  • Anonymous

    “Off-course he is not happy,”

    If we taxed you on misspellings, the country could end its debt.

  • Michelle

    Jon,
    As a “poor” person, I think the war Obama has waged on the “rich” is pathetic.  As a “poor” person, I wouldn’t dream of pounding on my “rich” neighbors door and demand he pay for my wants and needs. 

    For once, Bloomberg says something I agree with. 

  • Fenngibbon

    Until two months ago I was unemployed and getting about 150 a week in benefits. I don’t know if that counts me as a poor person, but I am sick and tired of hearing Obama yammer on about having the rich pay their “fair” share.  If he wanted them to pay their “fair” share he’d have to cut taxes on the rich, because their share of the income tax burden is 50% more than their share of all the income earned in the U.S.  I don’t know what warped definition of “fair” Obama is using, but to my way of thinking, “fair” means putting in the same share as you get out. 

    As for Warren Buffett, he can go to hell.

  • Anonymous

    “On the whole actually, Bloomberg wasn’t too negative towards the President. ”

    Speaking of Obama, why not report on Barry’s gaffe at the CBC dinner the other night when he tried to invoke his straw-man class-warfare argument?

    He said “If asking a billionaire to pay the same tax rate as a Jew, uh, as a janitor makes me a warrior for the working class, I wear that with a badge of honor. I have no problem with that.”

    LOL

    Now he is attacking Jews again!


    Washington – Obama Gaffe: President Says Billionaires Should Pay ‘Jew’ Tax Rate”

    http://www.vosizneias.com/92111/2011/09/26/washington-obama-gaffe-president-says-billionaires-should-pay-%E2%80%98jew%E2%80%99-tax-rate/

  • Dave

    Bloomberg doesn’t like the Buffet Rule. SHOCKER! Every poll has the American people showing support for this in large majorities. 

  • Pablo

    Uh oh. There goes your White House invite, Bloomie.

  • Anonymous

    Yes, everyone is in favor of something that has no impact on them. Ask Americans if they would be in favor of a consumption tax of 3% on everything they buy to help pay the debt down and report back.

  • Pablo

    Ah, but if the government forces him to pay up at gunpoint and then doles it out to you, that’s JUSTICE!!!

  • Guest

     California Democratic Party among SOLYNDRA’S creditors.

  • Michelle

    I know I should feel that way, but my sense of responsibility and self-reliance prevents it.

    As my bumper sticker says:

    Raised Republican, I can take care of myself, thanks!

  • Anonymous

    I would be happy with the Buffet rule that allows all of us to pay the same rate Warren (and George Soros) does….15%.

  • Michelle

    Yeah, that was Gafftastic!

  • http://pulse.yahoo.com/_FSPIVAFYI672OH5NOKVRTEZA4U MadCharles

    Ahh Bloomberg,. I wonder what he’s running for now. This guy changes stripes more often than anyone I’ve seen rise through the mud. Before you know it he;ll have slave blood.

  • http://www.scoamf.com/2011/08/hitler-realizes-obama-is-stuttering.html Unicon

    Bloomberg’s Scorecard with the Libs:

    “Build mega mosque at Ground Zero”:   +1

    “Class Warfare is bad”:    -1

  • Pablo

    Yeah, Obama wants everyone to pay the same rate as teachers and plumbers – 15%. Personally, I’m with Herman. If 10% is good enough for God, 9% is good enough for government. And like Obama said, everybody has to have some skin in the game, so I guess everybody should pay it. 

  • Anonymous

    Not a surprise at all.

  • Michelle

    HAHA, I almost choked on my cup O noodles!

  • http://twitter.com/TommyBennett Tom Bennett

    What a non-story. It’s like me saying, “you’re a petty conservative potty son- PARTISAN- …dick…I mean DIP shit.”

  • Anonymous

    He deserved it because he is always playing the spelling and grammar King.

  • Anonymous

    Did the aliens forget to remove your anal probe?

  • Michelle

    I know and he’s THE LAST person who should be doing it.

  • Chucker

    If you have an income of one million dollars, you are taxed at a rate of 28.5%.  That would mean $285,000 to the federal government.  If you make $50,000 you are taxed at a rate of 12.9%.  That means you pay $6,450.  So how is it that a millionaire makes 20 times as much but pays 44 times more in taxes and is told that he or she is not paying a “fair share?”  When Buffet, President Obama or even Mika can explain that to me I will get on board with their argument.  Until then, not so much. 

    And, if this is about deductions and tax breaks, take them away, but understand that the middle class benefits a great deal from some of those also.
     

  • Anonymous

    Why doesn’t Warren pay his $1 billion tax bill before he starts calling for higher taxes on people?

  • Colonel Lingus

    I wondered who was driving that ’74 Renault in the fast lane.

  • Guest

    Taxpayers paid for Fast & Furious

  • Colonel Lingus

    But they make more than 82% of the money made in this country.  The folks who only make 18% of the money made in this nation cannot possibly shoulder the burden of more taxes, the rich can.

  • Colonel Lingus

    Christie initially opposed it but then learned it was not about the all you can eat buffet.

  • Colonel Lingus

    Christie initially opposed it but then learned it was not about the all you can eat buffet.

  • Colonel Lingus

    It’s all about the deductions and loopholes and if you think for one minute republicans will ever take one of these away from their chosen people, you’re wrong.

  • Colonel Lingus

    It’s all about the deductions and loopholes and if you think for one minute republicans will ever take one of these away from their chosen people, you’re wrong.

  • Colonel Lingus

    It’s all about the deductions and loopholes and if you think for one minute republicans will ever take one of these away from their chosen people, you’re wrong.

  • Anonymous

    Were you watching the passing cars from the shoulder after your Volt ran out of power?

  • Landmark

    Obama supported it also, until him and Michelle found out the Buffett Rule doesn’t come with fried chicken, chitlins and collard greens. Just as ignorant, but you think your funny

  • Chris

    What do you mean “ask a poor person”?  You have no idea what you’re talking about even after Bloomberg pretty concisely explained what the Buffet rule is. 

    BO is the one who’s obfuscating the “rule” which is basically an “alternative” alternative minimum tax (if you don’t know what that is, look it up…) for those whose total income from all sources is beyond a certain level.  He’s doing this because he knows a rate change on unearned income would get nowhere, including within his own party.

    If you don’t understand something, stop writing about it. Because this “rule” will affect only a small portion of all those “millionaires” you like to disparage – like Warren HYPOCRITE Buffet – and the expected income won’t make any of the “poor people’s” life better at all because the government will just waste it…on maybe some solar energy company that has to sell their products at a loss.

  • Michelle

    I must have missed Mediaite’s report on this yesterday:

    Video: Wallace rips Plouffe over “budget gimmicks”

    http://hotair.com/archives/2011/09/26/video-wallace-rips-plouffe-over-budget-gimmicks/

  • Michelle

    The only 70′s era car I’ve ever driven was a 1972 Plymouth Fury III, in gold.  Man was that car ugly.  But it was fast and you could stuff alot of people in it. 

  • Anonymous

    This Chris Wallace interview of Obama hack David Plouffe is a much more newsworthy and entertaining item to report on, imo.
    Wallace basically made Plouffe and Obama his b*tch:
    http://hotair.com/archives/2011/09/26/video-wallace-rips-plouffe-over-budget-gimmicks/

  • RACE BAITING@6 RESIST WE MUCH!

    KOOK ALERT !!

  • Michelle

    Funny, at his fundraiser with the fat cats this weekend, he didn’t mention the “Buffett Rule”.  I wonder why.

  • TruDat

    He was too busy soaking them for $35,000 a pop.

  • Anonymous

    Obama is talking out of both sides of his teleprompters.

  • Anonymous

    Hehe, I should read all the comments before I post.

  • DCBorn

    What an ignorant remark.  You don’t like rich people, that’s obvious.  You trash overweight people. Short people on your blacklist?  Tall people?  People who don’t look like you?  We know you don’t like people who don’t think like you.   How about high-IQ people, since you don’t like rich people?   Your liberal tolerance for others just glows.

  • DCBorn

    One question, Colonel.  How will taxing the rich more help the unemployment problem?  Oh, that’s right.  It’ll make you feel better and that’s all that’s important.  Get a life.

  • Colonel Lingus

    It’s a Prius, if it runs out of juice, I just step on the gas.

  • Colonel Lingus

    No, you’re just plain wrong, I support my friends in Mensa.  And by the way, get over yourself, I made a fat joke, I’m not the first to take aim at Cristie’s girth.  There is no moral equivalence between my comment and that of Landmark’s racist rant.

  • Colonel Lingus

    Look, if you haven’t taken any economics courses or done any reading, I doubt you’d understand.

  • Colonel Lingus

    Absolutely correct, it will only effect .3% of all Americans and I seriously doubt any of them post on this site.

  • Anonymous

    Oh please, please, explain how taxing the rich more is going to lead to job utopia.

  • Colonel Lingus

    I feel your pain. My wife drove a ’70 Plymouth New Yorker when I met her, man what an ugly car that was.

  • Bourekas

    Yes there are poor people everywhere.  Obama loves them, that’s why he’s so busy making them…

    Seriously, of course the guy not paying taxes would rather the other guy did.  The alternative being proposed isn’t “tax the middle class more” as much as it is “stop spending so damned much”. 

  • Jason

    Why does the government deserve more of their money?

    Can one of you soclialist retards possibly answer that question in a cogent manner?

  • Jason

    Actually moron, bigotry is bigotry.

  • Anonymous

    What you really mean to say – I have no clue but I’m going to do some double speak here and hope I can fool you.

    You can’t – it’s b.s. and it’s you who should understand economics before you try to explain it, because there is no explanation.  

    p.s.  I took that economics course for you (and many others) – so next!
    p.p.s.  You could try taking a statistics course and they would show you how you can double talk and skew the results.  Perhaps that’s what you were referring to but got the course name wrong.  Easy mistake. lol

  • Anonymous

    Post a logical argument if you have one. Or if you can try to make something up.

  • Anonymous

    everyone who has no skin in that game is very vocal.  What a shock! lol

    I think nobody should own a Bentley until I can have one – whatcha think, good idea?

  • Darladoon

    they don’t NOT pay a “much higher % of their income in taxes”

    that is a flat out LIE, mr. bloomberg

     

  • Darladoon

    the government deserves more of their money, because they get a lot more
    from the government than the poor do:  better schools, better roads, better cops,
    better transportation, better doctors, better hospitals, better health outcomes,
    longer lives, better land, better lawyers, AND, most importantly, a congress
    they can BUY

  • Michelle

    Obama Asked During Town Hall, “Would You Please Raise My Taxes?” – Update: Man Who Asked Question An Ex-Google Employee, Has Given $300K To Dems Since 2000…

    http://weaselzippers.us/2011/09/26/unbelievably-pathetic-obama-asked-during-town-hall-would-you-please-raise-my-taxes/

  • http://pulse.yahoo.com/_SMUGSPLRKQOJBS5T6I4S5H2YSE Andy-48

    I’m wondering if you have seen any of the Newsmax ad’s regarding the “Rich” not paying taxes. From those ad’s I can tell you that I hardly think that many of the “rich” are paying that 28.5% rate that you are talking about. Those ad’s tell you how to pay ZERO just like the rich are doing.

  • Michelle

    No worries, I’ve been there!  It deserves to be repeated.  I always find it interesting which Sunday segments Mediaite focuses on and which they ignore. 

  • http://twitter.com/runforfun54 Ilene K

    Oh for goodness sake, he did not “SLAM” Obama .. he simply said he thought it was “theatrics.’  It’s called Politics – you know, like what the Baggers are doing in hopes of shutting down the government.

  • Anonymous

    Mayor Bloomberg should be concerned that the GOP has been taken over by the Extremist Terrifying Errant Activist(T­­EA) party! The unemployme­­­nt rate, a more direct concern to Americans, has remained high after shooting up from 5.5 % in December 2007 to a peak of 10.1 % in October 2009. It was 7.8 % when Obama took office, and it has held at 9.1 % for the past two months. False. The Obama administra­­­tion’s much-criti­­­cized efforts to revive the economy may not have lived up to their billing, but statistics show the bulk of the damage was done before he was sworn in. It has gone up in two years to 9.1%, but this current 112th Congress has been in office seven of those months. The Commerce Department­­­’s Bureau of Economic Analysis found the recession officially ended in June 2009, five months after Obama took office. The economy has grown in every quarter since then, though barely in the past six months, according to the Commerce Department­­­. Let’s see – This current 112th Congress has been in office for nine months, so it true this current Congress has done nothing. We can call them the “do nothing, No, not ever” Congress! Is Bloomberg a tea party activist in drag?

  • Mfontz

    Oh what a surprise Bloomberg says it won’t work. I say raise the tax to what it was in the 50′s, 60′s and 70′s and we’ll all pay off the debt just like our fathers did. Oh you say the rich will move. Let them, this is America and if you don’t want to pay your taxes you can leave and go somewhere else. It’s been done before by those rich enough to afford it and the US didn’t miss them one bit.

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