Obama's Buffett Rule: Jimmy or Warren?

Time for a quiz... How does taxing the rich create jobs?

Well, you're right - of course it doesn't. So how come the White House can't figure out the obvious? Because it doesn't care about creating jobs.

President Obama on Monday will call for a new minimum tax rate for individuals making more than $1 million a year to ensure that they pay at least the same percentage of their earnings as middle-income taxpayers, according to administration officials.

Mr. Obama will not specify a rate or other details, and it is unclear how much revenue his plan would raise. But his idea of a millionaires’ minimum tax will be prominent in the broad plan for long-term deficit reduction that he will outline at the White House on Monday.

The White House seems to think the road to reelection isn't built on good policy. The Good Government People prefer cheap political tricks - consider, this new act of desperation is to be dubbed the Buffett Rule.

Millionaires losing everything. Hey, welcome to the other side of life! There goes the yacht, there goes the Rolls, But, you get to keep your wife!

And don’t forget the automakers swimming up stream like a trout. They let the shit hit the fan and then they made a plan.

We’ve got a lot to drink about.

Sorry, no, not you Jimmy. Warren Buffet.