NEW YORK, June 26 — Warren E. Buffett was his usual folksy self Tuesday night at a fundraiser for Senator Hillary Rodham Clinton (D-N.Y.) as he slammed a system that allows the very rich to pay taxes at a lower rate than the middle class.
Buffett cited himself, the third-richest person in the world, as an example. Last year, Buffett said, he was taxed at 17.7 percent on his taxable income of more than $46 million. His receptionist was taxed at about 30 percent.
June 27 (Bloomberg) — The fate of U.S. immigration legislation was cast into doubt when at least six senators who helped revive the proposed overhaul said they either oppose or are leaning against a move to permit a vote on final passage.
The measure is in more jeopardy “than I thought a few hours ago,” said Senator Christopher Dodd, a Connecticut Democrat.
I personally always look at Ann Coulter and think “If we all just ignore her, she will disappear” but the fun thing about our world is that crazy sells books and knocking crazy gets people watching television and reading blogs. It also might help raise money or so hopes the John Edward’s team.
Yesterday Ms. Coulter appeared on Hardball with Chris Matthews where Mrs. Edwards called in to ask “can we stop the insanity” in so many words. The exchange was quickly jumped upon, according to The Hill, by the Edwards team in a fundraising e-mail and a drive is being centered around the exchange similar to the one Team Edwards put together when Coulter called Edwards a derogatory word not so long ago.
I have noted the Edwards campaign is reportedly hard up to finish their fundraising goal for Q2 meaning the exchange undoubtedly came at a pretty coincidental time. You can check out the campaign Web site which now has a section devoted to the incident with video and a helpful option to donate.
The problem with this strategy is that it gives you a short term potential gain for fundraising but gives ample media exposure to Coulter who will no doubt use it to attack 9/11 widows or orphans or whatever in order to sell more books, thereby creating further “outrage” and thereby elevating her status more.
The right hasn’t learned its lesson with people like Michael Moore & the left hasn’t learned its lesson with people like Ann Coulter. Therefore everyone just gets unhappy, political discourse gets tossed into the ground and everyone complains about “how bad the system is”.
So why does it matter? The current administration has been testing the constitutional limits of its powers like almost no other and has been doing so, up until now, with very little oversight. There are a few problems though. First there is now oversight thanks to the 2006 mid-term elections, second if in many of the instances being investigated right now the administration is triumphant, they will be handing over a great deal of power to the next administration.
I personally spoke with many Republicans over the last few years who said they didn’t care about these issues because they supported President Bush and wanted him to exert as much power as possible. I would always ask them how they would feel if Hillary Clinton were president and exerted the same. I got a bevy of answers.
It is something that could happen or it could be Barack Obama or John Edwards as well. Which means that if Congress stays Democratic they too will face the question. Will their legal opposition to these presidential powers remain if its a member of their party in the White House? Will Republicans who just a few years ago had no problem with this presidential authority suddenly change their minds if a Democrat is in office?
