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Republicans Unveil Their ‘Buffett Rule’ Allowing Americans to Pay More to Uncle Sam
Fox News ^ | 10/15/2011 | fox news

Posted on 10/15/2011 9:05:33 AM PDT by tobyhill

President Obama’s proposed “Buffett Rule”-- which would force the wealthiest Americans to pay higher taxes to help cut the nation’s deficits -- has met its Republican match.

Republican lawmakers have introduced their own “Buffett Rule” that would allow billionaire investors like Warren Buffett who say they’re not paying enough taxes to voluntarily give more money to the federal government.

Under the legislation, authored by Sen. John Thune of South Dakota and Rep. John Scalise of Louisiana, taxpayers can donate at least a $1 to the Treasury fund for deficit reduction when they file their federal income tax returns starting next year.

“If individuals like Warren Buffett or President Obama are inclined to donate their own personal money toward paying down the federal government’s debt, they ought to have that right to do so voluntarily,” Thune said. “This bill would make it easier for those wealthy individuals who feel they are currently under-taxed to pay more to the U.S. Treasury above and beyond their current obligations, without raising taxes on America’s job creators.”

(Excerpt) Read more at foxnews.com ...


TOPICS: Extended News; News/Current Events; US: Louisiana; US: South Dakota
KEYWORDS: billgates; buffettrule; dougedwards; johnscalise; johnthune; louisiana; southdakota; warrenbuffett
Come on Buffett and Obama, pay up.
1 posted on 10/15/2011 9:05:38 AM PDT by tobyhill
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To: tobyhill

Ball’s in your court, blowhards.


2 posted on 10/15/2011 9:07:47 AM PDT by rhema ("Break the conventions; keep the commandments." -- G. K. Chesterton)
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To: tobyhill

They only make believe they want higher taxes and still use their tax lawyers to evade paying. These fakers are just disgusting to me now.


3 posted on 10/15/2011 9:08:52 AM PDT by DebraAI
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To: tobyhill

Doug Edwards, the ex-Google employee that asked Obama to raise his taxes should write an extra big check during next tax filing season.


4 posted on 10/15/2011 9:10:25 AM PDT by Frohickey
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To: tobyhill

I like it. What’s Thunes legislative record? He and his family look like the Hollywood version of a First Family. Why isn’t he running?


5 posted on 10/15/2011 9:11:10 AM PDT by Fu-fu2
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To: tobyhill

Deficit solved, next problem.


6 posted on 10/15/2011 9:13:21 AM PDT by Huskrrrr
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To: tobyhill

Brilliant!


7 posted on 10/15/2011 9:13:53 AM PDT by joeystoy
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To: joeystoy
Brilliant!

Well-stated! HOORAY Republicans! WOOOOHOOOO!

8 posted on 10/15/2011 9:29:34 AM PDT by PGalt
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To: tobyhill

Every obstacle currently preventing rich commie libs from dumping every penny they have into the U.S. Treasury to subsidize the Nanny State must be removed. I think we’d see fewer of them “checking into rehab” if we had this bill to help them with their guilt complex. The feds should be able to accept all of the commie libs’ money with no questions asked.


9 posted on 10/15/2011 9:35:15 AM PDT by FlingWingFlyer ("Greed" is wanting everything and demanding that somebody else pay for it.)
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To: tobyhill

An okay symbolic gesture, I suppose. Of course, Buffett will first have to pay up on his past due tax bills dating back to 2007. I’m sure he’ll do so with no further delay.

Another gesture would be to slap a 20% surcharge on each and every elected representative (including the President) who supported (through vote or signature) any measure that resulted in the government spending over and above available revenue.

This would be called the VST (Value Subtracted Tax).

Or, if you prefer, the LIAR tax (Let’s Incentivize Acting Responsibly).

Just puttin’ ‘er out there for consideration.


10 posted on 10/15/2011 9:43:58 AM PDT by Let_It_Be_So (Once you see the Truth, you cannot "unsee" it, no matter how hard you may try.)
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To: tobyhill
There has always been a means in place to let people voluntarily pay more. This is theater, good theater but still theater.
11 posted on 10/15/2011 9:46:38 AM PDT by Graybeard58 (Of course Obama loves his country but Herman Cain loves mine.)
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To: Fu-fu2

Just what we don’t need-——more tax laws, to “simplify” things.

There is already a method to pay more to the govt.

You can make a contribution online either by credit card, checking or savings account at Pay.gov
You can write a check payable to the Bureau of the Public Debt, and in the memo section, notate that it’s a Gift to reduce the Debt Held by the Public. Mail your check to:

Attn Dept G
Bureau of the Public Debt
P. O. Box 2188
Parkersburg, WV 26106-2188


12 posted on 10/15/2011 9:50:40 AM PDT by Ed Condon (Give 'em a heading, an altitude, and a reason.)
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To: tobyhill

Liberals don’t want to pay more taxes.

The liberal rich don’t want to pay more taxes.

They could but a check to government anytime they want and never do. They use tax lawyers and accountants to get every tax deduction and write off possible.

Liberals only want the middle and upper middle class to pay taxes, because that is where the revenue stream is greatest.

This is why conservatives or Republicans encompass the great mass of people making between $30K-$500K a year.

Democrats have two constituencies, the dirt poor and the super wealthy, and neither of those groups want to pay their taxes.


13 posted on 10/15/2011 9:54:40 AM PDT by radpolis (Liberals: You will never find a more wretched hive of scum and villainy)
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To: Let_It_Be_So

The fact that Buffet gets away with this crap is unbelievable - well - I take that back - with the left it’s business as usual.

He lies about his tax rate compared to his secretary - apples and oranges.

He could donate money to the treasury if he really wanted to.

He could pay that taxes he’s owed for years.

What an effing hypocrite and the MSM doesn’t bother to report it.

This sounds like Huckabee’s Tax Me More fund when he was governor and I’ve heard that it remained relatively empty of donations by big mouth leftist hypocrites.


14 posted on 10/15/2011 9:54:48 AM PDT by Aria ( "If we ever forget that we're one nation under God, then we will be a nation gone under.")
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To: tobyhill

Brilliant!
This needs as much publicity as possible.


15 posted on 10/15/2011 9:56:37 AM PDT by Lancey Howard
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To: Ed Condon

Please tell me, Ed, that’s not your P.O. Box.


16 posted on 10/15/2011 10:44:21 AM PDT by shove_it (Just undo it!)
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To: tobyhill

Buffett can afford more than $1.00!


17 posted on 10/15/2011 10:50:29 AM PDT by chainsaw (I'd hate to be a democrat running against Sarah Palin.)
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To: tobyhill

Put your money where your mouth is a##hats! That includes you....susan sarandon, micheal moore, alec baldwin, janine garafalo...oooh scratch that last one off she hasnt been funny in years let alone funny at all and she’s probably on food stamps and a free cell phne with 250 free minutes. Now we will see them all run


18 posted on 10/15/2011 11:01:03 AM PDT by ronnie raygun (V)
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To: ronnie raygun
I saw a Uber Rich guy on TV and he made the most sense I heard on this issue.

He said that he would pay 5% more in taxes with a rider, gladly.

He would pay it for 5 years and the Government would cut Actual Spending ( not growth in spending) by 5% across the board including entitlements.

19 posted on 10/15/2011 11:37:49 AM PDT by scooby321
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To: tobyhill
Hahahaha!!  Anti-demagogue legislation.  Beautiful.

.

20 posted on 10/15/2011 3:47:22 PM PDT by CaptainKrunch
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