RUSH: Everybody is asking today if Obama’s secretary is paying a higher income tax rate than he did. The Obama effective tax rate — well, not “effective”; the tax rate he paid — is 20.5%. It’s 20.5% on an income of $789,000. So everybody’s asking the burning question: Is Obama paying a lower income tax rate than his secretary is, like Warren Buffett is? We don’t know. Nobody knows. But everybody’s asking.
RUSH: This is Janelle in Topeka, Kansas. Welcome. You’re on Open Line Friday. Great to have you here.
CALLER: Hey, mega dittos, Rush, from God’s country, Topeka, Kansas, midway USA. I think president Barack Hussein Obama mmm, mmm, mmm, has got it all wrong on the Buffett Rule. I think the Buffett Rule allows everybody to take ten years to pay their taxes, and even with that surely Wesley Snipes and Willie Nelson would vote for him.
RUSH: Well, you know, it’s a good point. Snipes found guilty —
RUSH: — in a Florida court. Willie Nelson. That’s right, what she’s talking about here, folks — thanks very much for that, Janelle. What she’s talking about out there is that Buffett owes a billion dollars in back taxes and has for a while, and he’s fighting it. Now, folks, anybody is allowed to fight the IRS if they think the IRS is overcharging. That’s fine and dandy, but don’t then come along and allow your name to be put onto some phony tax increase bill when you’re out there fighting what the IRS claims is what you owe. It’s a little hypocritical. And so what Janelle here is saying is, the Buffett Rule is that you get ten years or more to pay your taxes, which is what’s happening to Warren Buffett.