“Republicans Unveil Their ‘Buffett Rule’ Allowing Americans to Pay More to Uncle Sam”:
President Obama’s proposed “Buffett Rule”– which would force the wealthiest Americans to pay higher taxes to help cut the nation’s deficits — has met its Republican match.
Republican lawmakers have introduced their own “Buffett Rule” that would allow billionaire investors like Warren Buffett who say they’re not paying enough taxes to voluntarily give more money to the federal government.
Under the legislation, authored by Sen. John Thune of South Dakota and Rep. John Scalise of Louisiana, taxpayers can donate at least a $1 to the Treasury fund for deficit reduction when they file their federal income tax returns starting next year.
“If individuals like Warren Buffett or President Obama are inclined to donate their own personal money toward paying down the federal government’s debt, they ought to have that right to do so voluntarily,” Thune said. “This bill would make it easier for those wealthy individuals who feel they are currently under-taxed to pay more to the U.S. Treasury above and beyond their current obligations, without raising taxes on America’s job creators.”
Obama’s “Buffett Rule” is part of his $450 billion jobs bill that was defeated in the Senate this week and will now be taken up in pieces. His version of the rule aims to stop millionaires from exploiting lower tax rates on investment earnings than what middle-income taxpayers pay on their wages – a cause that Buffett, the chief executive of Berkshire Hathaway, has been long advocating. But Republicans have fired back, saying anyone who feels undertaxed should just write a check to Uncle Sam.
“It’s ironic that President Obama is using Warren Buffett as a poster child for raising taxes at a time when the federal government is saying Berkshire Hathaway hasn’t even paid their own taxes,” Scalise said. “If Warren Buffett truly feels that he’s not paying enough in taxes, he doesn’t need a change in law to put his money where his mouth is, he can send his check for a larger amount to the Treasury today.”
Okay, fine. But now you’re taking all the sport out of it.
The real fun comes when you get to demand that it be taken from people. Because that’s about power. And accumulating power and control is at the heart of leftism.
The rest is just marketing.
Warren Buffett is a hokey Nebraskan fuck what gets a giggle out of selling his nasty See’s Candies to those fat-ass Americans at airports what are invariably in the seat next to you
It’s not just the demand that money be taken from people, it’s the demand that it be taken from certain people. You know, the enemies of the state.
The enemies list constantly changes at the whim of our betters, of course. That way they can keep everyone properly in line.
Taking money from everyone equally destroys the ability to punish, hence their resistance to such notions.
If I saw Warren Buffett and Red Ted Turner having a knife fight, I wouldn’t know whether to eat popcorn or Chee-tos.
I’m surprised Teleprompter Man hasn’t brought in Bono to give us all a good talking to about paying our fair share! That’s what’s needed here I think.
Despite that the law is meant to be silly, I suspect that if the billionaires had the option of letting the government go public with the numbers, some of them (not Buffett) would actually donate.
[…] protein wisdom highlights the GOP’s Buffet rule […]
I thought Obama’s Buffet rule was ‘”Make public pronouncements supporting my policy goals and I’ll let you buy a huge stake in a bailed out bank without much fuss from any federal regulatory body.”
You know, within the week.
“If I saw Warren Buffett and Red Ted Turner having a knife fight, I wouldn’t know whether to eat popcorn or Chee-tos.”
I would immediately call for legislation banning the sale of small knives. What, those assholes can’t afford machetes?
There’s no need for the legislation: the Treasury Department already has a donate to reduce the debt website, where anyone who wishes to pay more than their fair share is already able to do so. (I even have a nifty Voluntarily Pay More Taxes button on my site sidebar, if anyone wants to copy and use it.)
McGehee wrote:
If you are truly a capitalist, you would start running a pool on who wins, and how long it takes, and even have a popcorn and Cheetos concession going, though, personally, I’d prefer hot, fresh pretzels with spicy mustard.