Obama Lied: Buffet and His Secretary Pay the Same Tax Rate

Equivocation is a logical fallacy. To equivocate is to give “equal voice” — the same meaning — to a word when actually it has two distinct meanings.

“The sign said ‘Fine for Parking Here.’ Since the sign said it was fine for parking, I parked there.

In the first case, “fine” refers to punishing someone financially for an infraction of the law, while in the second case, “fine” means it’s OK to do something.

President Obama equivocated when he addressed the issue of taxation by arguing that Warren Buffett and his secretary, Debbie Bosanke, are not subject to the same tax rate. The President was using “tax rate” to mean the same thing when there are different rates based on how people are paid: capital gains tax rate and salary tax rate. In reality, Buffett and his secretary are subject to the same tax rate if both of them derive income from capital gains.

If Buffett’s secretary invests in stocks that pay a dividend, then she is paying the same rate as her boss – 15 percent. If she gets a salary, she is still paying the same rate as her boss if he derives any income from a salary. In fact, if Mr. Buffett was paid a salary on all his income, he would pay a higher rate than his secretary because the tax rate on salaries is progressive. The more you make the higher percentage you pay.

There’s one more thing to consider. The following is from Forbes online magazine. The latest IRS tax rates for 2009 show some interesting results:

They show that taxpayers earning an adjusted gross income between $100,000 and $200,000 pay an average rate of twelve percent. This is below Buffet’s rate; so she must earn more than that. Taxpayers earning adjusted gross incomes of $200,000 to $500,000, pay an average tax rate of nineteen percent. Therefore Buffet must pay Debbie Bosanke a salary above two hundred thousand.

This would put her in the top one percent of all wage earners. Paul Roderick Gregory writes: “I have nothing against Debbie Bosanke earning a half million or even more. Buffet is a major player in the world economy. His secretary deserves good compensation. At her income, however, she is scarcely the symbol of injustice that Obama wishes her to project.”

Here’s something from “The Smoking Gun” site.

“Despite a heavy tax burden, Warren Buffett’s secretary last year was able to purchase a second home in Arizona, a residence complete with a swimming pool and a ‘professional PGA putting green,’ according to real estate records.”

Poor thing. She’s destitute!

In a word, President Obama lied. He used Warren Buffett and his secretary as props to support his continued class warfare rhetoric. Please make it stop!


Comments

comments

  • Doug

    Great clarity to this communist propaganda issue.
    Hence the title "Liar-in-Chief".

    • Ron

      obama is a liar. We all know that. He is the worst excuse for a human being I have seen in a very long time. Well, Clinton had a problem with the word "is" so I am wondering just how stupid the American people have become. I will bet anybody a dime the American public reelects this idiot.

      • Always Right

        I agree with you. The average American is going to lap up his BS and re-elect him.

      • Pat

        Ron I agree with you fully. When are the American people going to wake up and realize this bum in the White house is out to destroy the American way of life. I love how he mixes words to make his point.

    • JimB3

      Whenever you choose to "tell the truth" in such a manner that actually causes any reasonable listener to believe a lie, then it's a lie no matter WHAT you actually said. The reality is what you conveyed to the audience. When I say to someone, "you're not fat" while thinking of a hippo as my perspective, then I've clearly lied because the hearer will understand my connotation to be in reference, at least, to humans. My intent is irrelevant. WHAT DID THE LISTENERS GET FROM IT? If you know they got a misunderstood/twisted understanding, then you are a liar. If you did it intentionally and meant for them to misunderstand, you're a bald-faced liar.

    • Charlie

      I just don't see how one person can stand in front of the whole country and just plain outright tell a lie.

  • Dan

    I am surprised that none of the main stream media have researched Ms. Bosanke's actual income.
    Ms. Bosanke has chosen to accept the publicity. Therefore she should be willing to share the details, possibly including her tax return.
    Let the people see that she is just a working class stiff, ya!

    • Vazir Mukhtar

      Most of the main media will swallow just about anything they're fed if the source is OK. From time to time The Washington Post does a fact check and awards "Pinocchios" according to the severity of the "misstatement."So far I've not seen the Buffett - Bosanke tax issue there.

      It would be interesting to see her tax return, but how many people understand the tax code well enough to realize the positions of either? Would Joe the Plumber get it?

      Other than for the publicity, I don't understand Mr Buffet's promotion of taxing the ultra-wealthy more. If he's so eager to contribute something to lower the national debt, there's nothing, except his own thoughts on the matter, to keep him from writing a check to the Treasury.

      His proposal, as many people already know, amounts to an example of "Do as I say do, not as I do."

    • Mike

      I want her and Uncle Warren to share her Tax Return with the people. I have a feeling that she is a 1%er and paying the same as Uncle Warren. These elitists think they can pull the rug over our eyes and we will swallow it hook, line and sinker.

    • Luan

      Actually the secreary DID pay more in taxes than Buffett - Buffett owes over 1 Billion Dollars to the I.R.S. and keeps disputing them, therefore his secetary paid and Buffet paid ZERO!!!

    • SweetOlBob

      If they did that, they would have prevented dolts like the Reverend (cough-gag) Al Sharton from asking over and over "Yes, but is it fair?" Just like the mental giant Rev. Al, they would have deprived themselves of a good talking point (true or not) to get the attention of idiots. Having a bugus question like thes lets them stand and pontificate that it's not "fair". To which the idiots reply in chourus "YEAH" !

    • Gringo Infidel

      Research? Media outlets are not in the news business - they are in the entertainment business.

      Facts get in the way of their dogma.

  • Myrtlelinder

    I wonder, can anybody remember Obama telling the truth. He is very famous for his lies. I believe his best one, or is it his worse one, saying he was a Christian. I think he had that famous 'sneer' on his face when he said it.

    • Vazir Mukhtar

      Perhaps President Obama, knowing that Pilate's famous question "What is truth?" received no answer, has supplied his own.

    • Mike Tanco

      He is a liar and a fraud. He is still a Muslim and always will be one. The problem with his lies is that there are too many stupid people that believe anything he says. They are the one's that would prefer to see him President for another 4 years. If that happens, the United States is dead as a country of free people. Mike Tanco

  • Do Zimmerma

    Please remember that Warren Buffet started this months ago. Since he is a Democrat who supports his party Obama picked u[p on it.

    • Sunny

      That is true but to perpetuate a lie from the original source is just as bad if not worse because obama is using this lie for his own agenda.

  • Corky66

    obama lied? NO! He wouldn't do that to the American people would he? Didn't Clinton get in trouble for telling lies?? I guess if your a black president you can do that and it's OK. obama is such a waste of good balck/white skin.....

    • Mike

      The Quran says that it is alright to lie if it attains your required end results.

  • Gary

    Gosh, who would have though ??? obammy lied , the economy died !!!

  • Mattwm

    when I saw warren playing the banjo on Chinese TV, that's when I knew he has lost it. he's going the route of Howard Hughs

    • bhs3kgt

      That is an insult to Howard!

    • Boogies daddy

      Buffet bought Burlington Northern Railroad.
      He is planning to block the pipeline and rail all the canadian oil routing it through his own pockets first. Which is the reason Obama is killing the pipeline.

    • Mike

      He seems to be getting senile, (maybe suffering from alzhiemer) to me.

  • djw663

    Semantics and Politicians are a master at it. The problem is that the average IQ of the American citizen is 100, not very sharp! Again (don't be ignorant) educate yourself on the political standings and beliefs of your candidate and vote accordingly.

    • Ultor

      Not flashy oratory djw663, yet profound. Blue Horseshoe loves Anicot Steel-ish. Who "is" John Gault?

  • Larry

    The SOB Barrack Obama is lying about everything he has made a deal with Warren Buffet to haul the oil that would have been transported by the Keystone pipeline and gave it to Warren Buffet to haul on his railroad and I am sure Obama did get a high position on the Board with Warren for a lot of money. Now people jest look and see what Obama is doing to help you he is taking away More jobs the jobs that you could be working at and he has given them to Warren Buffet for a price that he will put into his pocket. Now there went several thousand more jobs that he has not created jest like the ones he is sending to Brazil a job for National Security for this country and a foreign country has gotten them

    • JJM

      Just received a reply mail from my Senator regarding Keystone. In it she mentions 20,000 direct jobs + indirect jobs = 100,000 jobs potential. Why has the media been throwing around the lowball numbers of 7,000 to 20,000? Don't be too surprised if BO approves the pipeline this summer ( as a campaign move) with the claim of 200,000 jobs created.
      Even if most of these jobs are temporary construction jobs the unemployed would appreciate them while they wait for full-time in a hopeful economic recovery.

  • samtman

    My brother who is in the $240,000.00 bracket, is in the 33% bracket, after all the deductions as a salesman and all other deductibles he can take, is still in the 22% bracket, perhaps he should change accountents. The OBM, recently published a report that millionaires in the 35% bracket only pay 16% in real income taxes, after all kinds loopholes and investment tricks. I say somthing is rotten and unfair, it must be fixed.

    • Tammy

      So, let me get this straight, samtman, for your brother, they are deductions. For anyone that makes a million $ or more, they are loopholes and investment tricks. Hmmm.

    • John Illinois

      There is a big difference between the "rate" of the "bracket" you are in, and the total percent you pay in taxes. The first $25,000 of taxable income is taxed at the "rate" of 10%. So, if your deductions like your and your dependents, state and any local income taxes, property taxes if you own a home, interest on your mortgage, and any charitable deductions are applied, reduce your $50,000 a year income to $25,000, then you pay $2,500, which is 10% of your taxable income. However, it is only 5% of your gross income. The brackets go up from there, so the next I don't know how much more is taxed at the next bracket, I think it is 22%, but don't hold me to that. So let's say you make $75,000, instead of $50,000. You pay 22% of that added $25,000, or $5,500 more--total tax bill $8,000, so your total tax bill is 10.6 %, not 22%, even though your next dollar of income IS TAXED at 22%.

  • Jonathan Gartner

    Actually Buffet has paid more but, of course as a marxist in spirit he would never admit it. First the money is charged at the 35% rate and after that any money made is 15% for a total of 50%. But of course he has so much money it makes no real difference to him besides does he not still owe a billion in back taxes just like Obama talks out of both sides of his mouth

  • Dude

    Kinda funny how this article about Buffet is headed by an ad advertising investment advice from Buffet

    • Not a Moron!

      Instead of advice from Buffet, mine has an ad for Hoveround. Those $^#% cookies are at work telling them that I'm not an investor but considered among those who might want to buy a Hoveround. But what good will one of those do when I live in a townhouse???

  • VirgoVince

    It's such a shame that Buffett has to be an ignorant idiot libturd, but KNOW that his name ends with 2 ts, NOT buffet, that's a piece of furniture!! What you choose to call the ugly mooscum monkey occupant in the WH is up to you, but I refuse to speak his given name and refuse to address him as president, since he CLEARLY is NOT!!
    Mr Buffett just has his trains on the wrong tracks!!

    • samtman

      Virgo Vince, if I ever run in to you somerwhere, I will make sure that I keep a tight grip on my wallet.

      • VirgoVince

        What the hell does that have to do with my comments or the topic?? somerwhere??

      • VirgoVince

        WHAT does this have to do with me, my comments or the topic??
        somerwhere??

      • VirgoVince

        What does that mean?? Did you reply to the wrong comment??
        somerwhere??

  • Ultor

    “I have ways of making money that you know nothing of.” John D. Rockefeller
    “The best slave is the slave who thinks he is free.” John D. Rockefeller
    “Competition is sin.” John D. Rockefeller
    John D. Rockefeller was a "republican" like Willard Mitt Romney, a republican out of touch with what the elite-establishment republicans like to call "lunch pail republicans," and "soccer moms." To people so out of touch with "main street USA" the public is an obstacle that only requires lolly-pops and pole-tested oratory of patriotism to control. In this GOP nominee process, you have Willard Mitt Romney who is a Rockefeller republican, supported by Ann Coulter, Chris Christie, and Nancy Polosi, or you have Newt Gingrich whom "did" balance the budget, "did" help put us "lunch-pail" republicans back to work, and "Is" a man of action with a track record of "major" policy reform. So the choice for we members of the GOP is between the Rockefeller and the lunch-pail candidate. Since Newt is the "only" leader to have actually achieved "conservative" policy as compared to Romney whom achieved "socialized" health care. Romney is the candidate that, "has ways of making money that you know nothing of," as Rockefeller boasted. Newt has offered the American people an opportunity to keep your money out of the hands of people like Polosi and Romney.

    • WholeTruth

      Ultor - It appears you have failed to recognize the fact that Gingrich was "hired" by Lobbyists to provide "pressure" for the Freddie Mac/F. Fae group who knew they were taking us for a ride. Gingrich also was the father of the biggest form of "earmarks" which became bigger and bigger earmarks by the Demos. Look into your Newtonian views a little deeper. Also, understand that Mitt Romney made his way using his own education, hard work and brains. Not riding off "taxpayers" dollars and taking from the working class. Another thing, recognize the Left wants us to "elect" Newt as our candidate because they KNOW OBUMMER will BEAT HIM. The same way the MSM gave us McCain they are trying to do it again with Newt. Read between the lines, here and again.

  • Audieleon

    Dont personally know anyone making over $50,000 a year thats seven days a week were do they get these numbers ?LOL

  • Always Right

    This man must be defeated in 2012. Our very survival depends on it !!!

  • jmsmaxwell

    obama is a consumated and convient liar, he has admitted so on numerous ocassions even when the truth would be simpler
    and easirer. Every thing he said in his campaign speech was rehashed and reworked to be in his slop of the toilet speech.
    There was nothign new just more of the same old class warfare whining liberal BS.

  • http://yahoo.com Thomas M

    When ever obama open his mouth he's lying and only fools buy his garbage.

  • http://aol.com david peacock

    When Obumbo opens his eyes every morning he is lying, he thinks he is special, intelligent, suave and in reality he is misguided sociopath with very little common sense;; SORRY BARRY "THE JIG iS UP"; PUN INTENDED.

  • JG1000

    All good points and information.

    It is important that people understand at least the very basics of the tax code so politicians don't get away with lying to them..

  • 1599

    Screw Buffet. He outsources jobs too.

  • RogCol

    All he has to do is reduce her pay to a level that is in the 47% of those that pay no federal income tax. Problem solved. Pay increase would just create more taxes. Then Buffet could say he pays and infinite amount of taxes compared to his secretary.

    • 1599

      He probably just bought the house for her. Did you see this A hole partying with a rapper? Pathetic.

  • Dean

    Of course Obama lied. That is all he ever does. When his voice comes on the radio or his mug comes on T.V., I turn to a different station. I can not stand his voice or his face any longer.

    • Larry

      He and his wife (not my president or first lady for sure) make me furious everytime I see either of them (picture or voice) I also turn the channel or turnover the publication!

  • MrInterpid

    The left points that word "fair" around like a gun. Some day it will blow up in their hands. There is no such thing as fair or unfair. Life hands each of us different problems and situations to be solved on our own, that's really all there is. Now the libs need to learn what most of us did from our mothers at about age ten: "Stop whinning about fair or unfair and make something out of your own life". Just a couple of verses for you: John 21: 21-22 and Exodus 20: 17

  • Deno

    Just an example of more of the Crony Capitalism he has been guilty of for over three years now. You can be assured it will not cease as long as he is our President. It is an absolute shame the major "Press" will not investigate these activities.

  • Colorado Joe

    Dan, the liberal mainstream "Dinosaur" media will never research how much their fellow lefties make! If it were a Republican or conservative you can bet the rent they'd investigate you back to the time you and the neighbor kids ran that lemonade stand in front of your parents house. They know their liberal lefty buddies are full of it as they are. You have to understand that the left is totally devoid of any scruples and are morally bankrupt so to them being dishonest is only a means to reach their ends.

  • tony

    It is sickining to hear that tout about buffet and that slymy secretary on the same tax scale. THAT HUSSEY IS NO MODEL FOR EXAMPLE TO BE TOUTED ON THE NATIONAL STAGE. $ 500.000 A YEAR COME ON MAN. PLEASE . I JUST HOPE BLACKS WILL FINALLY REALIZE THIS GUY IS TERRIBLE FOR ALL OF US. YES I AM BLACK , I VOTE REPUBLICAN .

  • lizaz

    The SOU dog and pony show Tuesday night was mostly for those people who believe everything he says. The bit about Buffett's secretary is a joke....we know and have known since Buffet brought it up that she undoubtedly does not get most of her income from capital gains as Buffett does. If she did, she'd be paying at the same rate as he does. The WH counts on the fact that most people are ignorant....I think that's starting to change.....I do know we are tired of everything about him and his socialist/communist cronies who are living off the taxpayer. NOV will bring us INDEPENDENTS out in droves to vote against him!!!

  • Roscoe Bonifitucci

    Obama a Liar? Really? Who knew?

  • http://www.biggovernment.com hugh544118

    Amazing what rot comes out of Soetoro's mouth. I'm no tax pro and I immediately knew better than he. Some of us knew about his agenda before he was elected Pres. Why do you think he didn't create a trail easily followed? Why did he seal his academic and other personal info after election, including his birth certificate ? He's worse than any politician I've ever known as far as lying and deception. WAKE UP PEOPLE BEFORE HE eats the body known as America. He is a cancer upon Americans . I suppose he's a curse brought on us because of our evil acts. Some sinful acts are required to answer for in this life.

  • http://www.biggovernment.com hugh544118

    Obama is just like his master-Satan. Satan is the feather of all lies.

  • SEAN MURRY

    the press is for obummer.

  • http://www.MarketResearch-Studies.com Upset with gov.

    I cannot look at him nor can I stand the sound of his voice, because I know what he is, " A Big Fat Liar."
    This country is suffering and all he can come up with is tax more while cutting the military.

    They just raised the debt ceiling another 1.2 trillion. Where will that come from Warren Buffett and his secretary?

  • Blair Franconia, NH

    The Washington Post's FactCheck.org should have given Obama's State of Confusion Address four Pinocchios.

  • John Stewart

    It is obvious that we are at a crossroads, we either accept the "ruling class" or take back our Country and revive the Constitutionl government that we grew up loving. Give into this" ruling class" warfare and we are back to a time before the revolutionary war. Our freedoms to become what we want to be will be gone and will be determined by the rulings we fought to be free from.

  • Irma from MA

    Did anyone notice when Obama said during his speech that the super wealthy group was DECLINING and the poor group was INCREASING --- and yet he still can't figure out that HIS policies are responsible for this. What happens when EVERYONE is poor and there are no more wealthy people? The other bone of contention that I have is that the Liberals are trying to say that only the Republicans are "rich" - yet Buffet is certainly as rich if not richer than Mitt, and George Soros has an estimated wealth of SEVERAL BILLIONS of dollars, and John F. Kerry (MA Senator-Democrat) married his wealth. Just heard IRS personnel owe more than a million dollars in their "fair share" of taxes, and other "government workers" have tallied up over a BILLION DOLLARS in UNpaid taxes! How nice!!!!!!!!!!!!!!!!!!!

  • floyd

    This President does not represent anything my family and I stand for. He is anti-American, he exports our jobs and allows ILLEGALS to take those that are available, he sends OUR money to other countries to boost their economies, he sleeps with terrorists, he sues states for upholding laws that are on the books that he does not deem necessary, he disrespects the flag, national monuments and the military, he has de-friended one of our greatest allies in Israel, he forces the country to accept his biased Obamacare and then gives passes to corporations who either donate to his campaign or that hire ILLEGALS, he regulates industry to the point of destruction, ad infinitum.... and then he blames everything else for his failure.
    This traitor quit representing the Great United States of America the day he started appologizing for her greatness. He has done nothing but trample our country, our flag, our history, and our Constitution all of his life, while living off our our tax dollars. It isn't the color of the skin, it is the lack of Red, White and Blue!

  • Larry Luntsford

    Your headline lies. Obama was only repeating a claim made by Warren Buffett himself: that his secretary pays a higher percentage of her income in taxes than Warren Buffett. The distinction between capital gains income and wage income is irrelevant. In fact, it is an egregious example of the unfairness of the tax system, in that labor income is taxed at a higher rate than investment income.

  • http://www.chick.com Raymond

    Tax Cuts –
    If you don’t understand the Democrats’ version of tax cuts (and you are not alone), maybe this will help explain it:
    The Difference Between Republicans and Democrats

    A Republican and a Democrat were walking down the street when they came to a homeless person. The Republican gave the homeless person his business card and told him to come to his business for a job. He then took twenty dollars out of his pocket and gave it to the homeless person.

    The Democrat was very impressed, and when they came to another homeless person, he decided to help. He walked over to the homeless person and gave him directions to the welfare office. He then reached into the Republican’s pocket and got out twenty dollars. He kept $15 for administrative fees and gave the homeless person five.

    Now you understand the difference between Republicans & Democrats.

  • David

    When does Obama lie? Whenever he opens his mouth!

    If you are stupid enough to vote for this POS you need to be put away in a padded cell.............

  • Fred

    I'm not a psychologist, but I think Obama is a pathological liar. He lies virtually every time he speaks and seems to feel no shame whatsoever.

  • Carol Goodwin

    Duh! So whar's new about that? Obam lies every time he opens his mouth. If anyone out there who is not an illegal immigrant or an otherwise welfare recipient, and still believes anything this fraud, Obama says then you are just plain crazy and there is no hope for you! As for the two 'media darlings' Mitt & Newt, they are so into themselves and neither one will be able to put up any kind of defense against Obama so I stil hope and pray that people come to their senses and support the only candidate who hasn't tried to cover somethng up, lied about something or anything underhanded. I speak, of course of the only true patriot, Ron Paul. He can & will beat Obama! Please wake up, people.

  • Ultor

    The sentiment is pointless in 2012, if you are not preparing for what is going to happen in less than three (3) months economically to withstand the global transformation that is poking its turtle-head out, you are going to find yourself in a boat with an oar yet without water. Europe (EU and its ECB) is about to enter the Little Big Horn - the population that brought us WW1, WW2, and the Palestinian is rapidly (exponentially to be more accurate) preparing to xerox more currency backed by nothing more than the potential to blame us (America). Simultaneously we (Americans) are artificially constraining ( in denial of) the inflation that has accrued over the past 24 months. When Toto pulls the curtain this time Mr. Oz will be long gone behind the prattle of politic. The instinct will be to gravitate to all of our normalcy bias politically while Oz makes their escapes. Not some but all indicators point to a global economic transformation of biblical proportions. The exciting thing is, we will actually be part of this historic event, the bad thing is we will be remembered as a statistic and future generations will never be taught the truth.

  • J-man

    Buffett's sudden interest in Obama's tax 'lie' to forment class warfare could be influenced by a curious fact the lame stream media is avoiding --- that is: Buffett's Berkshire Hathaway is in dispute with the IRS over the treatment of a billion $$$ --- think there is a connection? Buffett helps Barry get re-elected and 'poof' --- dispute gets resolved to Buffett's favor -----

    Hope -- Change -- Transparency ??? Yeah -- right !!

  • William

    The lie is the standard way to go for Obama and his WH gang. That has beien a going thing with them.

  • Ms. Michigan

    No one suggested that she is destitute. Nor does anyone have any business discussing what she does with her money. But this piece is disingenuous. "Let's just say" she invests? What the President said is true. A person pays more on earnings that are paid to them through their labor than they do for making money from making money. This is a fact. Warren Buffet (and Mitt Romney) pay significantly lower tax rates than I do for the money I earn from going to work everyday. And that is not right.

  • FakingShock

    I do not support Obama's agendas at all. I think he is killing America and handcuffing the abilities of taxpayers to get ahead.

    However, ask yourself, which was the last President that didn't lie? Do you even know of one???

  • Navy Vet

    Oh! This poor woman. By paying the same tax rate as Warren, she is able to buy a second home. What a pity. I wonder if she feels remorse for not paying more in taxes. Warren Buffet is nothing but an Obama loyalist. You can bet that there is something in it (money) for him or he wouldn't be doing it. Warren, supposedly feels that he doesn't pay enough in taxes, yet you never hear him volunteer to pay more. You lead by example Warren, and not by lip service.

  • http://pulse.yahoo.com/_JAXCZPGDEQKYXAMYHBOJZ2LVMY dontrenigin12

    obama Lie   NO F WAY...it should be a story when he tells the truth,,which he hasnt done yet......