Dr. Ben Carson - Obama's Charm Offensive

"As we allow the Government to take more and more of our money, all it does is fuel their growth."
Dr. Benjamin Carson

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Steve Green - Fiscal Cliff Reality - Everyone Is Rich - Your Taxes Are Going Up

When the Democrats say that they are going to raise taxes on the so-called rich, what they don't tell you is that "rich" applies to households earning $75,000 a year. Hear why as Stephen Green brings you a recap from the Sunday shows, where the pundits discussed the likelihood of tax increases, entitlement reform and more.

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Austin Hill - Warren Buffett and the Corrupting of the American Soul

“Bottom line…would raising taxes on the wealthiest Americans have a chilling effect on hiring?”

It was Matt Lauer’s final interview question for his guest, on last Tuesday’s episode of NBC-TV’s “Today” show.

“No,” the guest adamantly replied. “No… and I think it would have a great effect in terms of the morale of the middle class..”

The guest was famed investor Warren Buffett, CEO of the Berkshire Hathaway holding company and a personal friend of President Obama (and by the way, did you know that Obama calls him, and not the other way around? Mr. Buffett would want you to know). He was spouting the usual “it’s time to raise taxes on us rich folks” rhetoric for which he’s become famous.

But Buffett’s closing comments were a bit different this time. Higher taxes on the rich will provide a “morale boost” for those of us in the middle class? How is that so? Why would I, a mere middle class guy, be made to feel better simply because my government is confiscating greater portions of somebody else’s money?

Buffett’s remarks during the NBC TV interview, while in-step with prevailing political sensibilities, were nonetheless mostly illogical. Earlier in the interview Lauer brought up a recent quote from Honeywell CEO David Cote who had noted on another national TV program that he (Cote), and others like him, were feeling a lack of confidence in the political process, so much so that the uncertainty was making them keep their money on the sidelines and preventing them from making additional investments and hiring new workers.

“Well,” Buffett responded, “At Berkshire Hathaway, we're investing 9 billion in plant equipment, that’s a record, breaking last year's record.” That was an interesting response, and it was certainly a nice “plug” Mr. Buffett offered for his own company.

It was also a very artful “dodge” from the facts, and rather irrelevant to the discussion. Cote has articulated some grave concerns about a lack of leadership at the White House, and in Congress, and has noted how this lack of leadership has created serious, stifling uncertainty in the business market. So has Cisco CEO John Chambers, Wynn Resorts CEO Steve Wynn, and Intel CEO Paul Otellini (who, ironically, serves on President Obama’s Council on Jobs and Competitiveness). Buffett would prefer to ignore this (it’s always uncertain” he told Matt Lauer).

Buffett also reiterated in the interview that people like him have not been paying their “fair share” of taxes for all these many years. This is where his illogic hits a crescendo. If Mr. Buffett (or anybody else) isn’t paying enough in taxes, then he’s only got himself to blame. He could easily choose to make an extra contribution to the I.R.S. He could also instruct his staff of lawyers and accountants who represent him to the I.R.S., to stop calculating all the legal, allowable tax deductions that are available to him. All of these methods, and others, would allow Mr. Buffett to pay more in taxes – if that’s really what he wants.

But then Buffett had to go and perpetuate the same myth that he and the President have been perpetuating for over two years, when he alleged (once again) that his secretary pays more in taxes than he does. This is not only a myth, it is a lie. Buffett, and wealthy Americans like him, don’t draw “income” like most working Americans do; they get paid with investment dividends. Dividend earnings are created when somebody takes money that they have already earned, and they invest that money. That it is to say, dividend earnings are produced with money that has already been taxed as income, and when dividend earnings are taxed, the original investment capital is, in essence, being taxed for the second time.

This is why our government taxes dividends at a lower rate than it taxes income. It is to create an incentive for people to put their capital at risk, and invest in business enterprises (rather than merely holding on to that money and enjoying it in less risky ways). When Buffett compares his secretary’s income tax to his own dividend tax, he’s comparing apples and oranges, and 18% of Buffett’s dividend earnings no doubt amounts to a lot more money than 30% of his secretary’s salary. Dividends and income are treated very differently, and for good reason – but his comparisons make for amusing soundbytes.

As for Buuffett’s assertion about an alleged “morale boost” – this, also, makes for amusing soundbytes and headlines, and allows Buffett to provide some political cover for the President (you know, the President who calls him). Yet the real disgrace is if he is right about this.

Are Americans really so petty and covetous that we are comforted when “rich” people have their money taken away from them? Or do sufficient numbers of us still understand America to be a meritocracy – a society where we all achieve in different measures, yet we are all blessed with the freedom to try and achieve all that we can?

Austin Hill

Austin Hill is an emerging American voice, addressing culture-defining questions through books, talk radio, web, speaking, and interviews. His recent books "White House Confidential" and his new title "The Virtues Of Capitalism" show his range from whit-infused writer to thought-provoking expert on the intersection of philosophy, religion, politics & culture. Hill helps to make the complex seem simple when exploring capitalism, socialism, and other "Isms".

He is an editorial contributor to national publications such as U.S. News & World Report, a columnist with TownHall.com, and is a popular expert-host on radio from leading stations in Washington DC, Chicago, Phoenix and Los Angeles, and nationally with networks such as Fox NewsTalk Radio.  He hosts the "Austin Hill Show" weekday mornings at Fresno, California's Talk Radio 105-9 KMJ-FM,  and weekday afternoons at Boise, Idaho's Newstalk 580 K I D O radio.

Hill holds a Bachelor's Degree in English Literature from California Polytechnic State University at San Luis Obispo, and a Master's Degree in Philosophy of Religion and Ethics from Biola University in California.

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Katie Pavlich - White House Warns Tax Hike Could Hurt Holiday Spending

President Obama on Monday warned Republicans against rejecting his offer for a limited extension of tax breaks, saying it would likely ruin Christmas for retailers and consumers.

In an open letter to Republicans, Obama told his opponents to “stop holding the middle class and our economy hostage over a disagreement on tax cuts,” Fox News reports. The warning came on “Cyber Monday,” one of the busiest online shopping days of the year.

Recorded 11-26-12

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FISCAL CLIFF Versus POLITICAL WILL

“Fiscal cliff” is the popular shorthand term used to describe the conundrum that the U.S. government will face at the end of 2012, when the terms of the Budget Control Act of 2011 are scheduled to go into effect.

Among the laws set to change at midnight on December 31, 2012, are the end of last year’s temporary payroll tax cuts (resulting in a 2% tax increase for workers), the end of certain tax breaks for businesses, shifts in the alternative minimum tax that would take a larger bite, the end of the tax cuts from 2001-2003, and the beginning of taxes related to President Obama’s health care law.

At the same time, the spending cuts agreed upon as part of the debt ceiling deal of 2011 will begin to go into effect. According to Barron's, over 1,000 government programs - including the defense budget and Medicare are in line for "deep, automatic cuts."

When it is all said and done, the expectation is that the average American household will be paying $2,000 to $3,000 more in taxes each year—leaving them with $2,000 to $3,000 less to spend in our consumer driven economy.

The Fiscal Cliff -- Everything You Need to Know Explained

The U.S. Budget - A Visual Perspective

Click HERE to Understand Sequestration

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Crossroads GPS - Heart Virginia - Tim Kaine

Timothy Michael "Tim" Kaine is a Virginia politician. Kaine served as the 70th Governor of Virginia from 2006 to 2010, and was the chairman of the Democratic National Committee from 2009 to 2011.

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BaracK Obama 'Promised' the Most Transparent Administration in History

"It's time to fundamentally change the way that we do business in Washington. To help build a new foundation for the 21st century, we need to reform our government so that it is more efficient, more transparent, and more creative. That will demand new thinking and a new sense of responsibility for every dollar that is spent."
Barack Obama

Through his own words, a short un-narrated documentary that looks at Obama's first term with regards to transparency, healthcare, taxes, fairness, energy and the national debt - guaranteed to contain information of interest.

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Prager University: Tim Groseclose - Do High Taxes Raise More Money?

If you raise taxes does it automatically follow that you'll raise more revenue? Is there a point at which tax rates become counterproductive? UCLA Economics professor, Tim Groseclose, answers these questions and poses some fascinating new ones.

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Even Liberals should be able to follow this clear and lucid explanation. Of course, Liberals feel that facts, logic and reason are elements of a right wing conspiracy, designed to confuse and dis-orient Liberals. RG

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