SIGN OF THE TIMES
By Bill Scher
Notice something odd about the conservative excuses for opposing the Buffett Rule?
...the money that would be brought in by the government through this sort of tax increase would hardly reduce the growing federal debt. The debt is too large, and the revenue would be too small. -- Weekly Standard
The Buffett Rule Would Impact . . . 4,000 Taxpayers? -- National Review
It pays for about six percent of the president's proposed deficit spending. -- House Budget Chair Paul Ryan
...makes no meaningful dent in our national debt. -- GOP Sen. Marco Rubio
... the predicted revenue of the Buffett Rule would produce $4 billion a year in revenue, which represents about 0.44% of next year’s deficit... -- Hot Air
...the Buffett Rule would raise a mere $47 billion over ten years. Meanwhile, President Obama’s budget calls for adding $6.7 trillion to the national debt. That means that the Buffett Rule will only cover one half of one percent of the President’s new spending. -- Heritage Foundation (Note: the House Republican budget adds $12 trillion to the national debt.)
That's right. These conservative Republicans are complaining that the Buffett Rule doesn't raise taxes enough!
Of course, they won't cop to the fact that's where the logic of their argument goes. They are simply grasping at straws to avoid admitting they want multimillionaires who live off of stocks and dividends to continue gaming the tax system.
No one supporting the Buffett Rule is claiming it's a fiscal silver bullet. But since conservatives keep blocking proposals to let the Bush tax cuts for the wealthy expire, keep trying to repeal the cost controls from the President's health care reform and keep trying to exempt the Pentagon from budget reform, you have to start somewhere.
The Buffett Rule ends a gaping unfair loophole in the tax code, and takes a step towards fiscal sanity. If conservatives think that step doesn't raise enough revenue, I look forward to hearing their ideas to raise more.
3 comments:
"That's right. These conservative Republicans are complaining that the Buffett Rule doesn't raise taxes enough!"
Care to quote from one of "These conservative Rebublicans..." that have made this complaint about the Buffett Rule?
Seems what I've heard from them is that the Buffett Rule, because it's such a drop in the bucket as this article confirms, is an obviuos ruse to continue the 1% vs 99% conflict.
The only "conflict" comes from Republicans. The logic is indisputable. The tax structure is completely out of whack. No one has suggested that correcting this imbalance will solve our national debt. The code needs to be changed for other obvious reasons.
So when will the Dems who have the House and President start focusing on that "completely out of whack" tax structure we all realize, instead of a nonsense Buffett Rule?
When they do, and if the GOP blocks it without constructive debate, I'll be all over the GOP as I'm sure you will.
But back to my initial question, still waiting for anyone to quote from one of those "...conservative Republicans..." to back up the comment in this article that they are complaining that the Buffett Rule doesn't raise enough taxes.
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