Obama records first budget surplus of $58 billion in April, breaking a streak of deficits inherited from Bush dating back to SEP 2008

[mawilson 2,133]

Mind you, telling people that lowering government spending alone can reduce turn deficit into surplus wouldn't sound too good, when mentioned alongside the (I don't want you to use my name any more for the) Buffett Rule.

The essence of the "Buffett rule" is that Buffett's secretary shouldn't pay a higher effective tax rate than Buffett himself.

Which sounds good on paper until you realize that Buffett's secretary makes between $200,000 And $500,000 a year.

[lostinblue 1,989]

[james&olya 1,121]

The essence of the "Buffett rule" is that Buffett's secretary shouldn't pay a higher effective tax rate than Buffett himself.

Which sounds good on paper until you realize that Buffett's secretary makes between $200,000 And $500,000 a year.

It still sounds pretty good! And not just 'on paper'!

[Gary and Alla 3,694]

There is no appoved budget. There has not been since 2008 in violation of Federal Law

[Gary and Alla 3,694]

The essence of the "Buffett rule" is that Buffett's secretary shouldn't pay a higher effective tax rate than Buffett himself.

Which sounds good on paper until you realize that Buffett's secretary makes between $200,000 And $500,000 a year.

And until you ralize that Buffett owes more than $1 billion in back taxes which he is fighting to avoid paying. If he actually PAID his taxes he would pay more than his secretary. He is fighting paying them by using provisions written into current tax code to protect rich people from paying tax.

What is wrong with FAIR TAX or flat tax? Wouldn't that be better than a rule named for a tax dodger?

[Gary and Alla 3,694]

It still sounds pretty good! And not just 'on paper'!

How about 19% for everyone? 16%? Whatever it takes

New form 1040....

1. How much do you make?

2. Multiply by .19

3. Send a check.

witholding would be simplified.

Works good for EVERY state, medicare, Social security, sales tax, property tax, in fact EVERY form of tax in this country EXCEPT income tax. For that we need 23,000 pages of code which exists to exempt certain people and certain income from being taxed. My Federal tax return is 17 pages, my state return is one page.

[Dan and Judy 614]

He was able to give the money back to the people in the form of a tax cut.

It seems to me the money he "gave back" was being borrowed from our grandchildren

[unlockingsky 94]

i am just poor... thats all i know...

[Gary and Alla 3,694]

It seems to me the money he "gave back" was being borrowed from our grandchildren

Only if you assume it was trhe government's to begin with. It is not.

[mawilson 2,133]

It still sounds pretty good! And not just 'on paper'!

If you don't make over $200,000 a year, your effective federal tax rate is already lower than Buffett's or Romney's.

[Dan and Judy 614]

It seems to me the money he "gave back" was being borrowed from our grandchildren

Only if you assume it was trhe government's to begin with. It is not.

if it was the goverments they wouldnt have to borrow it

[james&olya 1,121]

Only if you assume it was trhe government's to begin with. It is not.

When I provide a service and then get paid it is most assuredly MY money. The same can be said for government. We might not have individually agreed to the 'services' provided but collectively we have elected our government and they have contracted on our behalf. Taxes are a debt we owe to our government and, unless we can get the bill transferred to our children and grand-children, we are on the hook for whatever our tax 'contract' specifies!

[Gary and Alla 3,694]

When I provide a service and then get paid it is most assuredly MY money. The same can be said for government. We might not have individually agreed to the 'services' provided but collectively we have elected our government and they have contracted on our behalf. Taxes are a debt we owe to our government and, unless we can get the bill transferred to our children and grand-children, we are on the hook for whatever our tax 'contract' specifies!

One of the better arguments I have heard, not suprisingly from you and not from the Kool aid drinkers.

However they do not, as you do not, have unlimited ability to spend and then say we must pay the bill. I see your point and how would you feel if your auto mechanic worked like the government? In most states he would go to jail. The government also has the unique position of giving service to ONE person and making another pay for it. Can you do that? Can an auto mechanic? We elect the representatives that write the budget and that budegt needs to be within the income ability...or should be. Those people need to protect the income of our government with a steady source...not 23,000 pages of "outs" for rich people. And we also cannot function with 50% of the people paying for 100% of the services and the rest getting a free ride. This is why I prefer the FAIR TAX over the flat tax.

[mawilson 2,133]

We might not have individually agreed to the 'services' provided

I think that's the real problem. I'd be willing to pay more taxes if my money wasn't wasted on military adventures overseas or used to line the pockets of baby boomers.