CNBC's Rick Santelli Shred's Buffett Rule 

Known for his epic Tea Party rant, ripping up the Obama mortgage plan and recently exposing false job numbers... now he completelyshreds Obama's "class-warfare" Buffett Rule live on CNBC.

As Santelli makes abundantly clear, there is no tax solution to America's spending problem. For each and every additional dollar confiscated from the economy to feed the Washington bureaucracy .. the result is an additional $1.40 in new spending. That's just plain dumb and can result in only one outcome - Insolvency. Soaking the rich cannot get deficits down, only spending reductions can do that.

Related chart: Contrary to Obama's rhetoric, the 'Buffet Rule' would raise an insignificant amount relative to his binge spending (click to enlarge).

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