Monday, January 30, 2012

Politifact Fact-Check Bounces

   Back in August, Politifact gave Warren Buffett a “true” on his New York Times op-ed where he compared his 17% rate to his employees’ much higher rates.  Much of this difference, as Buffett himself makes plain, is due to payroll taxes.  In September, Buffett even spelled this out more clearly, pegging the rate this his employees pay in payroll taxes at 15.3%:

 And that tax hits the people in my office very, very hard. Often they have a spouse working, so they get taxed on up to $200,000 that payroll tax. And that’s at — this year we’ve had a waiver of two points but that’s normally at 15.3 percent. That alone is higher than the tax rate on capital gains or dividends.
However, in December, Herman Cain called attention to the same issue when plugging his 9-9-9 tax plan, and he cited the same 15.3% figure Buffett used.  His attempt, however, was classified by Politifact as “mostly false.
   So, how long will it take for Politifact to catch up with Warren Buffett?  As of now, his Politifact scorecard is 100% True.  Or, better yet, when will Politifact’s apology to Herman Cain be issued?

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