The Buffett Rule

Last Tuesday, President Obama laid out his legislative vision for the year ahead in his State of the Union address. One of the more interesting and intriguing elements of the speech was the so-called, "Buffett Rule." For those that may not know, the "Buffett Rule" is named after billionaire businessman and investor Warren Buffett. The president is proposing that all Americans should pay their fair share in taxes as a way to generate revenues to help bring down the deficit. The "Buffett Rule" would do just that. The concept of the "Buffett Rule" comes from the fact that Warren Buffett's secretary pays a higher tax rate than Buffett himself. According to the President, this just isn't right. Why should we expect someone in the middle class to pay more taxes than a billionaire? The president will most likely have a difficult time trying to convince some Americans that the "Buffett Rule" is just what America needs to help solve our economic and financial woes. Opponents of the rule will say that the president is trying to punish those who achieve financial success. In essence, punishing those who have achieved the "American Dream." Some will claim that the president is trying to wage class warfare, while others will say that such a rule will lead America down the path of socialism. Supporters of such a rule would say that those who can afford to pay a little more, should. The president doesn't want to punish success, and he flatly rejects the notion of such a provision constituting class warfare. President Obama simply wants to see the middle class in this country grow stronger by having more Americans sacrifice a little of themselves for the greater good of their country.

The Final Four

As the race for the 2012 Republican nomination heats up, I thought it would be appropriate at this time to take a closer look at the four contenders who remain. Former Massachusetts governor Mitt Romney, who has long been dubbed the proverbial front-runner, now faces a challenge from former House Speaker Newt Gingrich. Much of the Gingrich surge can be attributed to the personal attacks that Gingrich has leveled against Romney as a result of Romney's association with Bain Capital. Also, many Republicans are looking for a candidate who can go toe to toe with President Obama in the upcoming general election campaign. To many voters, that candidate is Gingrich. Many republicans simply feel as though Mitt Romney is not "tough enough" to take on the president. Despite the fact that Gingrich is viewed as the tougher of the two politically, many voters believe that Gingrich has too much "personal baggage" to win the nomination. As many know, the former speaker resigned his leadership position in the House due to a number of ethics violations. Much has also been made of Gingrich's three marriages, with his second wife alleging that Gingrich asked her for an "open marriage." Campaigns usually come down to the public's perception of a potential candidate. It will be very interesting to see if voters pay much attention to Gingrich's past when determining whether or not they will vote for him. Rick Santorum and Ron Paul, although still in the race, will most likely be non-factors as the race moves forward. Santorum recently stated that his campaign is broke, and he is tired, but vows to press on. Ron Paul has not seriously contested the race in Florida, and has turned his attention to upcoming caucus states such as Nevada and Maine. As a self proclaimed political junkie, it has been quite refreshing to see the energy and enthusiasm that Paul's campaign has generated. Ron Paul's message has resonanted with millions of Americans, especially younger voters. Unfortunately for Paul and his supporters, the media and those within the Republican party simply don't view his candidacy as legitimate. It is my belief that Mitt Romney will be the eventual nominee of the Republican Party. Although Romney doesn't have widespread support among true conservatives within the Republican ranks, he has gained the support of many members of the so called Republican establishment, namely Arizona senator and former Republican nominee, John McCain. Romney has also received the endorsement of former Kansas senator and 1996 Republican nominee Bob Dole. Without the support of the Republican base, and many members of the Republican establishment, combined with his personal issues, I just find it difficult to see a pathway to the nomination for Newt Gingrich. As mentioned earlier, Santorum and Paul both are non-factors at this point, and neither will be the nominee of the Republican Party. That leaves Romney as the last man standing to take on President Obama in November.