President Barack Obama and Warren Buffet Discuss Higher Taxes

One of the biggest concerns about President Obama’s “Buffett Rule” is that it would negatively affect many small business owners and their ability to stay competitive and in turn create jobs.

Is the paltry 4.7 billion predicted increased tax revenues worth the risk of hundreds or thousands of small businesses and jobs to simply make a point about “fairness” and maintain a distraction for the “Campaigner in Chief” from the real economic issue facing the nation?

To take a different perspective, why not just increase the minimum rate of the 25(yes two-five) top hedge fund managers and tax them at 70%. Here’s the numbers:

The top 25 hedge fund managers collectively made 14.5 billion dollars in 2011.

Just for arguments sake, say they paid 20% (a high estimate. Most likely they paid less) of the 14.5 billion

That’s 2.9 billion

Now increase their rate to 70%

That’s an additional 7.25 BILLION,  far more than the Presidents “Buffet Rule” would generate, only affecting 25 individuals.

Kinda makes the “Fairness”, “Class Warfare”, “Divide and Conquer” reelection strategy seem a little silly?