#1 Democrat-Controlled Senate Votes Down Buffett Rule…
04-16-2012, 08:27 PM
- Join Date
- May 2008
- Locked in a Dungeon, being tortured and LOVING IT!
Via Weekly Standard:
The Senate rejected the so-called Buffett Rule on Monday evening. Fifty-one senators voted in favor the tax increase on high-income owners, officially called the Paying A Fair Share Act, while 45 voted against it. But the Buffett Rule failed to get the necessary 60 votes to invoke cloture and end debate on the bill, effectively killing the rule’s chances of passing the Senate.Now what will Obama campaign on.
Only one Republican, Susan Collins of Maine, voted in favor of the Buffett Rule, while Mark Pryor of Arkansas was the only Democrat to join the Republicans in voting against it. Four senators did not vote. The Buffett Rule would have set the minimum tax rate for those making more than $1 million in annual income at 30 percent.
President Barack Obama has been pushing for the rule for several months, naming it after investor Warren Buffett, an ally of the president who Obama claims pays taxes at a lower rate than his secretary. This afternoon, the White House announced its formal support for the bill, arguing that it “will ensure that the Nation’s wealthiest people are not able to use tax preferences and shelters to reduce their tax rate below what middle class families pay.”
Rest In Peace America
July 4, 1776 - January 20, 2009
04-16-2012, 08:36 PMPaying A Fair Share Act
When 40-some percent of Americans pay no federal income tax why are we letting him get away with this verbage? How can he keep saying it with a straight face?
If you make one dollar of income and pay zero taxes on it, you are not paying your fair share. Is it too simplistic or am I missing something? Or is just political suicide to even mention the fair share misnomer.Be Not Afraid.
04-16-2012, 08:58 PM
- Join Date
- May 2010
I think both parties enjoy too much freedom to define what's "fair" on their own terms. Whereas in my mind fair would be either a complete flat tax, or a consumption-only tax.
04-16-2012, 08:59 PMHow is obama working out for you?
04-16-2012, 09:13 PM
Should be called the 0bama rule shouldnt it? After all, 0bama makes 9 times what his own secretary makes and still pays a lower tax rate. And it would be sooo easy to remedy that.
Liberalism is just communism sold by the drink.
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