4/22/14 Do As I Say


Media Matters is one of the far-left activist groups funded by billionaire Hungarian immigrant George Soros.  If you know what a disturbing character Soros is then this tells you a lot about Media Matters.
It has long fancied itself a staunch supporter of organized labor.  It’s argued that “income inequality” — which is liberal-speak for income redistribution and other collectivist policies — and the sour Obama economy are actually the result of a dwindling union population.  That’s their silly opinion.

So, the hypocrisy is unbelievable.  Media Matters employees want to join the SEIU union. Instead of embracing their effort to unionize, Media Matters lawyered-up with a high-powered DC law firm known for labor disputes.

Do-as-I-say-not-as-I-do is popular in Washington. 

In 2012, President Barack Obama [with an estimated net worth of $12 million] campaigned on the Buffett Rule. The rule says millionaires [which Obama defines as those making at least $250,000] should pay at least a 30% income tax rate. Obama’s 2012 tax increase hiked the top marginal tax rate to 39.6% for incomes of above $450,000.

Obama’s 2013 tax rate was half that at 20.4% on his adjusted gross income of $481,000. The year before it was 18.4% on almost $609,000.  No Buffett Rule for him.

[Obama’s 2012 tax filing is here and his 2013 tax filing is here.]

And when he proposed his namesake-rule, billionaire Warren Buffett’s Berkshire-Hathaway — the 9th largest company in the world — owed taxes of more than one billion dollars going back 10 years. 

[In 2005, his company settled with the IRS a separate tax battle it waged for 14-years.]

[Berkshire-Hathaway’s $1.2 billion stock buy-back in December 2012 may have been timed in order to avoid an expected increase in tax rates in 2013.]

The Buffett Rule doesn’t even apply to Warren Buffett.  Or his companies.

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