Won’t someone think of the millionaires?
Not that it’s a surprise but Republicans in the Senate blocked passage of the Buffett Rule today that would have ensured that the most-wealthy Americans would pay their fair share in taxes. It wouldn’t have raised that much money but it’s a good first step.
President Obama was much nicer about it than I would have been:
Tonight, Senate Republicans voted to block the Buffett Rule, choosing once again to protect tax breaks for the wealthiest few Americans at the expense of the middle class.
The Buffett Rule is common sense. At a time when we have significant deficits to close and serious investments to make to strengthen our economy, we simply cannot afford to keep spending money on tax cuts that the wealthiest Americans don’t need and didn’t ask for. But it’s also about basic fairness – it’s just plain wrong that millions of middle-class Americans pay a higher share of their income in taxes than some millionaires and billionaires. America prospers when we’re all in it together and everyone has the opportunity to succeed.
One of the fundamental challenges of our time is building an economy where everyone gets a fair shot, everyone does their fair share, and everyone plays by the same rules. And I will continue to push Congress to take steps to not only restore economic security for the middle class and those trying to reach the middle class, but also to create an economy that’s built to last.
Meanwhile, Mitt Romney still won’t release his tax returns (except for 2010) but is patting himself on the back for paying a lower tax rate than most Americans:
Governor Romney has not only added value to our economy through his investment and business activity, but he has paid millions in taxes every year to the U.S. government.
But he’s confident he’ll win. So confident, in fact, that he’s already selling tickets to his inauguration. Buying access: it’s the Republican way.
By the way, if you’re interested in seeing how your tax rate compares to Mitt’s 15%, you can use OFA’s new handy-dandy calculator HERE.
[CC image credit: philippe leroyer | Flickr]