Let it not be said that this president hasn’t accomplished anything. Twice in one sentence? That’s efficient.
While scouring data and video for my post on the eleven lies Obama and Warren Buffett are telling about Warren Buffett, I came across this video, proudly provided by the White House. It’s Obama auditioning his Buffett-rule-class-warfare-schtick about a year ago. Think of it as a recently uncovered early acoustic set of the Beatles. Historic.
The one little part I’ll focus on happens at about 45 seconds in.
Here’s the transcript if you can’t bear to watch:
“And when it comes to upper income folks, you know I talked about Warren Buffett, but you know the truth is, I’ll just give you one example. The reason Warren Buffett’s taxes are so low is because he typically gets his income from capital gains. Capital gains are taxed at 15%. Now your income taxes are–you’re not being taxed at 15%, most of you, and as a consequence these days, the richer you are the lower your tax rate.”
Let’s look at these two claims individually:
1) “Now, your income taxes are–you’re not being taxed at 15%, most of you…” he says to his audience of good old-fashioned average Americans, insinuating that most people pay more. Unfortunately for him, that’s not remotely close to true. According to IRS data, about 83% of tax payers pay at or less than 15% in federal taxes on average. Only the rest, comprised entirely of evil rich people, pay above that amount. (This is a generous analysis, because he specifically mentions income tax, which 51% of America pays nothing into.)
2) “As a consequence these days, the richer you are the lower your tax rate.” This is a blatant lie. Tax numbers vary slightly from analysis to analysis, but all of their data can come together to agree that this statement is pathetically false. For example IRS data, the Congressional Budget Office, the Associated Press , and Politifact.
Or, in pretty picture form:
This is math and not class warfare? He might as well be wearing a beauty pageant sash at his Little-Miss-Princess-Class-Warfare competition acceptance speech. How does Obama believe he can get away with this crap?
To be fair, while he occasionally is slipping into lies, Obama does end the statement with unquestionable truth:
“Now, that can’t be something that is defensible regardless of party.”
Yes, Mr. President. You are correct. What you just said is not defensible.