Barack Obama wants to tax where millionaires live, thinking that they are not paying their fair share. Citing Warren Buffett, once known as the Oracle of Omaha, Obama calls his millionaires tax the Buffett Tax or the Buffett Rule. However, the Associated Press did a fact check on Obama′s class warfare speech from Monday and found him woefully misinformed. Millionaires, as a percentage of taxpayers, are only 0.2% of the population and account for 20% of all federal revenue. The average millionaire, according to the IRS, pays just over 28% tax on their income. Given that where most millionaires live, California and New York, they also pay very high state and local taxes. Even the New York Times now questions the class warfare politics of Barack Obama.

where millionaires live

The shocking truth is that Obama and the Democrats are taxing the global poor. In order to maintain their out of control spending, 20% of the entire planet′s GDP will soon be needed to sustain our National Debt. Imagine the poor in Africa and South America starving, children dying from disease, just so Obama and the Democrats can keep pumping cash to their base of union thugs, illegal immigrants, and generational welfare dependents. There is a picture that few are talking about.

As John Boehner, the only adult these days in Washington, DC said, giving the federal government more revenue is like giving a cocaine addict more cocaine. Is the clinically depressed Obama is too blinded by his own mental illness to realize how he is harming the planet? Far more so than even Al Gore would imagine fossil fuels and internal combustion engines could do. Obama and the Democrats are draining the life′s blood out of the American economy and Middle Class. Not content with this infamy, they have set their sights on doing likewise to the rest of the Earth′s population.

Meanwhile, Obama has no problem shaking down the average American worker and small business owner in order to hand over truckloads of cash to companies like Solyndra. The real benefactor of which is none other than Goldman Sachs. It always seems to come back to them, doesn′t it? Even Ben Bernanke′s remarks yesterday after the first day of the Federal Reserve′s FOMC on doing ′Operation Twist′ follows a warning by Goldman Sach′s chief economist, Jan Hatzius.

So while Barack Obama wants to tax where millionaires live with his Buffett Tax, Obama continues his class warfare to prop up those who deserve the least. Most wealthy Americans are already paying higher tax rates than the majority of citizens and paying a substantial portion of all federal revenues. Our budget crisis is not a problem of revenue but one of spending. Obama and the Democrats are addicted to spending, needing to do so to shore up their base of voters. But in doing so, not only are they stifling American businesses from hiring and growing, sapping the Middle Class in the process, but also they are taking their blood-sucking, evil ways to the wider world at large. At our current rate of spending and spending increases, the federal budget will require 20% of the entire world′s GDP to sustain our National Debt. And we wonder why the world hates us?