Buffett Rule was More Than Tax on Wealth
Last week, Senate Republicans killed the “Buffett Rule,” which would have made sure that the wealthiest pay their fair share in taxes. Today, shockingly, many of the richest Americans pay lower rates than the middle and working class. The death of the Buffett Rule represents another unconscionable break for the rich — and highlights the continuing failure of Congress to help Americans in need, including the unemployed.
A recent Gallup poll found that roughly 60 percent of Americans support the Buffett Rule. Half of all Republicans support the Buffett Rule. Even two-thirds of millionaires — the people the measure would supposedly harm — support it.
Americans are clearly sick and tired of watching the rich get richer while they struggle to pay their monthly bills. By failing to enact the Buffett Rule, Congress aided and abetted those who need help the least.
Mark Twain once wrote that “there is no distinctively native American criminal class except Congress.” Now we know why. Little wonder that nearly 80 percent of Americans disapprove of Congress!
The GOP Senators opposed to the Buffett Rule claim that it would deprive the rich of money that they could use to create jobs. If you believe those Senators, there’s lots of valuable swamp land with a waterfront view in Florida you can buy.
For evidence, look no further than the fact that corporations and wealthy Americans are sitting on more than $2 trillion in cash! The proverbial spigot of trickle-down economics has been shut off at the source. And all we’re seeing is an occasional drip, drip, drip. This should infuriate everyone.
The approximately $47 billion in revenue the Buffett Rule would generate could have gone immediately into public programs dedicated to getting Americans back to work. We could have funded a WPA 2.0 for the next five months!
How did your senators vote on the Buffet Rule? Were they on the side of America’s middle and working class, or the leisure class? Find out by clicking here!
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