President Obama Speaks on the Buffett Rule

"How many times should your money be taxed? One time? Two times? Three times? Four? Sounds like a ridiculous proposition, but that’s the true story of capital gains taxes in America, and it’s one that’s not being told in the continuing debate over Governor Mitt Romney’s taxes.
Why do dividends face lower rates than wages or interest income? Because dividends have already faced one full level of tax at the corporate level.
Americans making money from investments also typically pay a capital gains tax at the same lower rate as for dividends. Income and capital gains are very different. Income is what is generated from using resources, as wage income is generated by providing labor services, whereas a capital gain results from an increase in an asset price. Capital gains face a lower rate to reduce the tax barrier to investing, especially in high-risk, high-return, job-creating, business-growing investments.
So right off the bat, Romney is paying what is legally required of him — and even when compared to the average federal income tax burden in America of 9.3 percent, he’s paying more.
Norman B. Ture Senior Fellow in the Economics of Fiscal Policy at The Heritage Foundation, explains that Romney’s money has likely gone through four levels of taxation, meaning that the level of taxation was at 50 percent and likely much higher:
At the very least, he paid nearly 45 percent, but a chunk of this tax was collected before he even saw the remainder. Income from capital gains and dividends means the income was first earned by businesses, most likely corporations which paid tax at 35 percent. So Romney paid his 15 percent only after the government had taken its 35 percent cut. That leaves Romney with a combined tax of 45 cents on the dollar of corporate earnings."
http://www.askheritage.org/wh...

This is a poor question with a poor choice of answers. No we shouldn't raise taxes on anyone. Income taxes should be abolished altogether. Now, Obama needs to shut the hell up when it comes to paying the 'fair share'. Because the last few years, our dear sultan, Obama, paid less of a percentage of his money in taxes than I did. Now I don't think its fair that a president can go and make millions of dollars (That's a 7 figure income), some of it on the tax payers dime, and then pay his taxes, and end up paying a smaller share than me, someone who makes a 5 figure income. Go ahead and repeat that as if it was Obama saying it, throw in a number of "Uhs" and "Uhms" after every few words, and speak in a tone that makes other feel below you, and makes you feel like you're floating above the clouds and above the fray. So this guy has no room to talk about paying a 'fair share' because he certainly made sure he paid as little as he could. And on top of that he has no room to say that he thinks that you can make enough money, because he made more than that. Here's an idea, how about we lower the tax rates so that everyone is paying what these 'rich' people pay. Hell, I would have like to only pay what Obama paid, I would have been saving myself some money. God I dislike this self pretentious ass hat. He reminds me of Woodrow Wilson (pretentious holier than thou attitude) and a Micheal Moore (lying, manipulating, talks down to people, acts above you) mixed together to form a terrible Liberal Propaganda machine. Have you ever had a teacher or someone who, by title alone, is a superior of yours and they think they are better than you so they talk to you like you are a child and too young and you just don't understand anything?