CNBC's Bartiromo Misleads On Impact Of Obama's Tax Plan

CNBC's Maria Bartiromo, whose collagen injections are widely reputed to be a key market bellwether, offered the New York Post the precise sort of dire warnings you'd expect them to solicit on the deadly dangers of Senator Barack Obama's policies on the capital gains and income tax. It's certainly not surprising to hear Bartiromo express concern over a prospective rise in the capital gains tax - after all, back when he was co-moderating the worst political debate in recorded history, Charlie Gibson, no doubt blessed with the capital gains problem himself, spent an inordinate amount of time yelling about it. Yet, we will allow that it is a worthwhile debate to have: when President Clinton raised the capital gains tax in the 1990's, the economic conditions were vastly different than they are today.

Still, on matters of tax policy, you'd sort of like the anointed experts to have their facts right, and not indulge in misleading characterizations of the impact of that policy. Unfortunately, Bartiromo can't resist getting a little hysterical:

The income tax is also in for a bump. Bartiromo says, "Right now [it] is 35 percent, Obama wants to take that to 39 percent . . . We're talking about people who make over $200,000. That's not rich. So it's actually going to impact more people than you may think."

Bartiromo's suggestion that $200K per annum income is "not rich," and that an increased tax on those who earn that much represents some sort of widespread impact on mainstream earners is flatly false. The facts are these: in 2005, the national median income was a mere $44,389. And, according to the 2006 U.S. Census data on household income, households earning $200K or more represent a slim 3.5% of all households. That means that over 95% of all American households would likely prefer to have the problem Obama would impose on the nations' elite earners.

Comments

[amyd]

Right, it isn't rich and the top 5% can afford to pay more tax without going hungry. Someone has to pay for the bills Bush ran up running this terrible war.

[dumboldfarmer]

She may be hot...but smart she is not.

[JJ30]

Shame on her for making that ridiculaous statement. See this is what I'm talking about. People need to educate themselves on these important issues before they open their mouth and offer an opinion (especially those in the media). She lost all credibility to those people struggling trying to make it and she only made herself look stupid as heck.

[fflores]

I'd still hit it!

[NightRider]

then charged for child abuse?????

Her reasoning is immature.

Sorry... i could not resist that line.

[nibblybits]

And she'll do you if you have 9 figures. (You should see how ugly her husband is. But of course, he's loaded! From inheriting it.)

[southafrica4obama]

Good point here. "...over 95% of all American households would likely prefer to have the problem Obama would impose on the nations' elite earners."

[southafrica4obama]

This Maria 'Bartman' (wherever her name comes from), looks like a member of Governor Spitzer's call girls. She must just shut up and enjoy the paid-for martinis she's always been treated to after work.

[nibblybits]

She's from Bay Ridge. (Think Saturday Night Fever.)

[DXM]

If I could earn $200K per year, I'd gladly pay the 39% tax. I'd still end up with a LOT more money than I've been making lately thanks to President Bush.

[DanniD]

Amen to that!!

[kimbari]

Word.

[pupbayer]

If I were a follower of jumbo earred O, I wouldn't be making fun of someone's lips or any other physical feature.

[stepintothelight]

The ignorance and stupidity, not to mention DESPERATION, is simply mind blowing with you germs. Where did Obama comment on her physical attributes? Or are you just another late-term abortion survivor trying to carve out your path on the planet with only 25% brain development???

[kimbari]

Dude! Smackdown FTW!

[jimmy2001]

thats alright because BO himself makes fun of his ears

[bujeeboo]

Well, her lips bother me as well. There's so much lip gloss on them and they sort of move in a weird day, I am expecting a big drool spit to drop out of them. And she also looks always like she just got done crying.

[McFlipFlop]

Hey pube, that's rude and crude.

[cmeans29]

200k is not rich. If you live in NYC, SF, or LA; with kids and a wife.

If you're single, it's damn good money! I earned 280K per year during the Clinton era, paid high taxes, but never complained.

[DavidK08]

The people who have their sets tuned into cnbc all day, who represent her audience are at or above that $200K limit............that is why she says it that way.

Pay me $200K and I'll donate $10K extra to uncle Sam.

[nibblybits]

You think you will, but you won't. Human nature is that the richer you get, the more miserly. Why do you think these rich people are so dead set against paying their taxes?

[kimbari]

That would be *some* human's nature. Sweeping generalizations are so last season...

[slinkymom]

You cannot make sweeping generalizations like that. I am fairly well off ($150,000 - married with 3 kids) and I do not have any problem with the taxes we currently pay.

I believe we have to pay taxes to cover things such as education, infrastructure, social security, etc. - there is no free ride. All I have to do is look at how so many are doing without and I suck it up and pay. Of course, we must keep tabs on our government and their wastefull spending which sadly has not happened with Bush at the helm.

I simply do not understand why people who have so much, complain about what they have to pay in taxes. They are still coming out way ahead of the larger percentage of our population. And I have been poor, I grew up living with roaches and having our power and electricity shut off. My father was a career alcoholic and my mother worked her butt off to keep us clothed, fed and in school. Personally, I am very thankful to be where I am now and if my money helps others, I'm thrilled.

BTW, for a country that likes to boast it is a "Christian" nation, some supposed Christians sure don't like to follow the guidance of Jesus when it comes to helping those in need.

[paulbikes]

200k / year isnt rich like i'd never pick veggies for 50 an hour.

[olivia]

$200k is not much compared to her salary.

I doubt she feels the pain of Bush's collapsing economy the way most Americans do.

[layman]

This hysterical bimbo talks too loud and too fast.
There's no stop-and-think processing.
There's no rsearching the facts in her over fried spining head.
Too much toxicity from Botox injected.

[jrterrier]

that's not a nice thing to say about michelle obama, who decried that she and barack were struggling financiall until his books started bringing in the money. (The Obama's returns show them with an adjusted gross income of $207,647 in 2004, the year Barack Obama spent running for the Senate. Their adjusted gross income was $238,327 in 2003. It was $259,394 in 2002; $272,759 in 2001; and $240,505 in 2000.)

[rabprevent]

I will take 200k right now and you can call keep telling me that I am not rich!

[Actionmac]

and gladly pay the additional taxes needed to move this country forward... YES I WILL!

[rabprevent]

Does the collagen injections come with a special cream to bring down the brainswell?