IT’S LIKE IT’S ALL JUST A CLASS WARFARE SCAM: “BUFFETT TAX” WOULD BE ONLY A TINY HELP IN CLOSING BUDGET DEFICIT. “It’s also a myth that all the ultra-rich enjoy low tax rates. In 2007, the richest 1 percent of taxpayers paid an average tax rate of 29.5 percent and provided 28.1 percent of federal revenues, reports the CBO. On their wages and salaries, many of the ultra-rich pay the top income tax rate of 35 percent plus a Medicare tax of 1.45 percent. . . . So, raise tax rates on Warren Buffett and others to upper-middle-class levels. But recognize that the anti-wealthy populist rhetoric is mostly political expediency. It distracts from the serious issues the country faces — creating jobs and closing long-term budget deficits.” Which is precisely what it’s meant to do. Or more specifically, to distract from how Obama has made the economy and in particular the federal budget deficit and national debt, much worse.