Jennifer Crinci published an article on Yahoo’s Breakout called Buffett Rule: Another Step Toward Fiscal Disaster in 2013?
Businesses and individuals earning over $1 million per year should pay the same tax percentage that an average working American, like a secretary, pays.
This really is a non-contested issue. Anything but those making over $1 million per year paying the same tax rate as the average working American, is class warfare coming from the rich which began in George Bush’s term as President.
We all saw how pandering to the rich and giving special treatment to the well-off worked. After 8 years of President Bush and republicans throwing their whole weight in behind Trickle Down economics, I’m surprised any thinking individual would even contest The Buffett Rule.
From my own observations of people, here’s what I’ve noticed. Many people don’t like Democrats because of their pandering to the gay and lesbian community. In fact, gays and lesbians being given the same legal status as pro-creating man and women couples, is so maddening to so many people, that they hate and distrust anything coming from the democrat party.
The next group of people I’ve noticed that are against the Buffett Rule are the prejudice and race haters. Yes folks, many people living in Sarah Palin’s “Real America”, those delightful republican “Leave It To Beaver” towns that dot the American landscape, don’t like the President because of his skin color. No matter what he does, he’s black and that’s all they need to know.
I’m endlessly amazed at how the republican party taps in to hate and fear to get average working Americans to vote against policies in their own best interest. Many Americans that align themselves with the republican party have been bamboozled by the rich for many years now. The idea that the rich or powerful have better healthcare, access to better schools, can afford to buy many houses, can afford to buy many cars, can afford to go on vacations in exotic places around the world… the idea that these rich guys, under any imaginary scenario, should be allowed to pay a lower tax rate than a secretary, is ludicrous at best, criminal at worst.
The fear generating argument that passing the Buffett Rule is going to make all investors have to pay more in taxes, and that this action is going to cause the U.S. economy to collapse is a joke. A sick joke. First, that’s using fear to manipulate the populace. The Buffett Rule doesn’t raise capital gains tax on anybody. Those making more than $1 million dollars per year will need to pay the 30% tax rate that the rest of us pay on our wage income. How the money is derived is irrelevant. The Buffett Rule requires those that make more than $1 million per year to pay 30% of their income in taxes like the rest of us. Period. Most republicans, that are in the back pockets of the rich, have sought to distort the issue and connect it with the capital gains tax rate that everybody pays as an investor. This way they can get more people to be against it. Ridiculous. One has only to look back the 90′s and the booming economy we had as proof that the Buffett Rule will not tank the economy. In fact, an argument could be made that it will help the economy. Also, if lower taxes are so good, then why did the economy ever crash after President Bush took office? He lowered taxes again and again. Where’s all the jobs from those lower taxes? Rubbish.