As you probably know, the new poster girl for the unfair tax policy in this evil country, Warren Buffett’s secretary Debbie Bosanek, was prominently featured during a recent Barack Obama lie fest, aka what we can only hope will be his last State of the Union speech. And no wonder? As we have all heard over and over again from an endless supply administration mouthpieces, “billionaire Warren Buffett pays less in taxes than his secretary!” And apparently, it’s working. Obama says “it’s not class warfare. It’s math,” which in itself is a bit ironic because the actual math shows that, according to Buffett himself, Warren Buffett paid $7 million in taxes in 2010. Surely, Ms. Bosanek paid less than that, especially since Buffett has said he pays her $60,000 a year. But is that really true? From Investors’ Business Daily, writing about Ms. Bosanek:
An ABC News report, for example, says she “pays a tax rate of 35.8%,” in contrast to Buffett’s 17.4%.
But wait a second. The very top federal income tax bracket is 35%, not 35.8%, and that doesn’t kick in until a taxpayer has adjusted gross income above $379,150.
Does that mean Bosanek is among the 0.4% of taxpayers whose income hits the top federal bracket? You know, the “1%” Obama and his pals always rail about?
Buffett has claimed he pays his secretary just $60,000. So maybe she’s adding in every other tax she pays besides her income tax, including her employer’s share of Social Security and Medicare taxes.
But even that won’t get you up to 35.8%.
MMM…I wonder where they got the 38.%? Pulled it out of Axelrod’s ass, maybe?
Then there’s that 2nd home with a swimming pool and PGA caliber putting green that she and her husband Gerald purchased. From The Smoking Gun:
Despite a heavy tax burden, Warren Buffett’s secretary last year was able to purchase a second home in Arizona, a residence complete with a swimming pool and a “professional PGA putting green,” according to real estate records.
Debra Bosanek, 55, and her husband Gerald bought the 2100-square-foot home in Surprise, a city outside Phoenix. The Bosaneks paid $144,000 for the four-bedroom, two-and-a-half bath property (the purchase was financed, in part, by a $115,200 mortgage).
The principal Bosanek residence is in Bellevue, Nebraska, several miles from Buffett’s corporate headquarters in Omaha. The couple’s 2568-square-foot home, built in 2000, also has four bedrooms and two-and-a-half baths. But the modest property, which Sarpy County assessors last year valued at $217,716, offers no outdoor amenities for swimmers or golfers.
Debbie Bosanek, just another hard-working average American, managing to eek out a living, despite unrelenting efforts by the Man to keep her down with his plutocratic tax code.