• Please Donate a Few Bucks

    TRR does not need $90,000, or $9000, or even $900. About $150 a qtr. runs the site. If you are a regular visitor please donate a few dollars.
    Donations go to hosting and software fees (no TRR members profit). We can handle more than 2000 visitors a day with the current hosting.

Sign in to follow this  
Followers 0
Draggingtree

Obama's Buffett Rule campaign hits dead end

1 post in this topic

481296Washington Examiner.com :

 

Obama's Buffett Rule campaign hits dead end

 

byByron York Chief Political Correspondent

 

posted 8 hours ago at12:28am

 

At times it seems President Obama believes the Buffett Rule -- his proposal that Americans making more than $1 million a year pay at least 30 percent in federal income taxes -- is the only solution needed to solve the nation's staggering fiscal crisis. But with a Senate vote coming Monday in which the measure faces united Republican opposition -- plus no future in the House -- this week is likely to mark the end of the Buffett Rule as a major part of the Obama agenda. That's not just because of the political opposition; just as important, the Buffett Rule is running into a dead end because a significant part of the political class in Washington has finally admitted the idea is little more than a gimmick that would do nothing to fix the country's problems.

Of course, conservatives and Republicans have thought that all along. But in recent days, the trouble for Obama has been far broader, as commentators and politicians -- faced with nonpartisan estimates that enacting the Buffett Rule would raise about $4.7 billion in revenue per year, less than a drop in the bucket of a $1 trillion-plus annual deficit -- admitted that there's just not much there.

Washington Post liberal columnist Dana Milbank opened the floodgates mid-week when he published a piece that began, "President Obama admits it: His proposed 'Buffett Rule' tax on millionaires is a gimmick." Scissors-32x32.png

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!


Register a new account

Sign in

Already have an account? Sign in here.


Sign In Now
Sign in to follow this  
Followers 0