Obama full of BS on taxes

Two media reports detail how Obama's latest speech on taxing millionaires is total BS: the AP and the Washington Post. Obama acts as if there is a huge problem of millionaires paying a lower tax rate than secretaries and teachers but it's just not true. We do have a progressive system where higher earners pay a higher tax rate. Because our tax system is so complicated there probably are some cases of high earners paying a lower rate but it's not that common. Also, even if a millionaire pays a slightly lower rate he or she is still probably paying much more in absolute terms so this is not an issue I get that worked up over. In addition there are relatively few people making a million a year so his proposal would have absolutely no impact on the deficit. Altogether, this shows how pathetic Obama's latest proposals are. It's just like his earlier attacks on corporate jets. His proposal to change the depreciation rules for jets would save $3 billion over ten years which is insignificant amount in terms of what our annual deficit is. These proposals are really pathetic.