Tax Fairness Bill Stopped In the U.S. Senate
Matt | On 18, Apr 2012
The examples never end of government slacking on our behalf.
On Monday in the U.S. Senate, coincidentally on the eve of Tax Day 2012, the chamber struck down a bill that would have promoted the “Buffett Rule.” The plan, named after billionaire investor Warren Buffett, would have brought parity to the tax code by making millionaires pay the same percentage of their taxes as secretaries. Currently, the super-rich like Buffett pay a smaller percentage of income than those who work for them.
Republicans in the Senate filibustered the plan by keeping Democrats from getting the 60 votes needed to move it forward. The vote tally was 51-45. Republicans support the rich not getting taxed any more than they already do. Remember that many of the people the GOP protects also fund their campaigns for re-election. Can’t overtax the campaign cash cows!
There is a lot of irony in what happened in the Senate. The day after they said to hell with the Buffett Rule, a CNN poll showed that 68 percent of Americans think the current tax code is unfairly skewed to benefit the rich. I definitely agree with that and would like to see a major overhaul of the entire tax code.
I’m sure Republicans will spin this outcome to say they don’t want to further tax the “job creators.” It’s just interesting to see how blatantly pro-rich the Republicans are. The lack of concern they have for even their own middle class and poor supporters is astounding.
ANSWER IN THE COMMENTS SECTION BELOW:
What do you think of America’s tax code as it stands now?
What ideas would you implement if you think it needs to be changed?