Skip to comments.Republicans reject 'Buffett rule' in the Senate (51 to 45)
Posted on 04/16/2012 4:37:19 PM PDT by Red Steel
Reporting from Washington
Republican-led opposition blocked the 'Buffett rule' from advancing in the Senate, turning back an election year effort by President Obama to slap a new tax rate on those earning beyond $1 million a year.
Nearly all Republicans voted against the measure, a potentially risky move at a time when 60% of voters support the measure, according to a recent Gallup poll, as a way to ensure wealthy Americans pay their fair share of taxes. Democrats are likely to revive the effort in coming months.
Continuing to allow some of the wealthiest Americans to use special tax breaks to avoid paying their fair share simply cannot be justified, the White House said in a statement before the vote.
(Excerpt) Read more at latimes.com ...
There are only 47 Republicans, so I think the LA Times may be pushing a lie.
One Republican, Sen. Susan Collins of Maine, joined Democrats in voting to advance the measure. One Democrat, Sen. Mark Pryor of Arkansas, voted against.
Dang! I was unaware that there are 51 republicans in the senate these days! /sarcasm
Typical of Susan Collins - why can’t we get rid of her?
TEXT of the Bill:
And she is more conservative than Mitt Romney.
Grouped By Vote Position
Not Voting - 4
Republicans were on the 45 side.
There, fixed it.
Collins feels guilty her husband is under investigation for stealing from the gov’t
Hard to tell that from the headline now isn’t it?
Do say more. I was not aware of this issue...
What lie? With exception of Snowe the Republicans pulled together and were responsible for defeating the bill. The vote was close though so we have our work cut out for us.
The same 60% that would piss and moan if you dared raised their taxes or asked 43% of them to at least pay SOME INCOME TAX. Hypocrites!!! If this 60% wants someone to pay more taxes for THEIR BIG government, I suggest they THEY DO IT! They are NOT Americans. They're freeloaders.
Typical of Susan Collins - why cant we get rid of her?
Why is it that people like collins never have a moose related acident?
Collins isn’t married.
The lie: Continuing to allow some of the wealthiest Americans to use special tax breaks to avoid paying their fair share simply cannot be justified, the White House said in a statement before the vote.
The truth: The capital gains tax rate is not a “special” tax break. It is simply a 15% tax rate and is applied equally on all who report such income. The capital gains tax rate is neither progressive nor regressive taxation.
The opinion: Seems to me that it is the forerunner of a type of flat tax. If we cannot find a way to come up with a good consumption tax, I would like to see the earned income tax rates be replaced with the same rate as the capital gains tax rate. At least then we would be in the ballpark of a more “fair” tax system.
Seriously, anybody, no matter who they are and how much money they have, can find a finite number of ways of donating extra money to the U.S. government, if they, really, wanted to do so. This issue is, just, a “dog and pony show” by the left, in order to ignore all of Barack Obama’s problems as well as ignore all of the problems of the left, in general.
There are 51 democrats, 2 democrat independents and 47 republicans. The democrats can pass it if they waned to push their majority. This was a bipartisan defeat. Kudos to the GOP for voting correctly, but this headline and story is just electon propaganda.
Buffet rule - another Obama straw man the progressive media is only too happy to characterize as a good and necesswary tax law blocked by those dastardly Republicans who only care for the 1% and will gleefully starve the poor and the old people and even little puppies.
We can only hope there are enough rational people paying attention that won’t fall for Zero’s lies and tricks.
LOL ... some years ago, there was a magazine article (in Forbes, I think) where Warren and Jimmy were interviewed. Turns out they really are distant cousins through a common Nova Scotia relative. Warren said (paraphrasing) that the way things were going, referring to Jimmy’s musical success, he should start asking Jimmy for investment advice. I loved the picture at the beginning of the article — it showed Jimmy in a suit and tie with a disgusted look on his face, and Warren in a Hawaiian shirt.
LOL! So is that final statement the way the poll question was asked? I'm sure 60% DID say they supported that. I'd venture a guess that the vast majority of that 60% have absolutely NO clue what is actually written in the 'Buffett Rule', or how it would truly affect the national debt (not much).
so if there were 51 votes FOR it, and only 45 AGAINST it, how does it not pass? they’ve now messed up math so bad that 51 is LESS THAN 45??
The measure needed 60 votes to advance.
Not Voting - 4
Does anyone know why these four did not vote?
Not sure I understand your comment. It takes 60 votes to pass any legislation in the Senate if there is not agreement on allowing the vote. There were 51...a majority who voted yes...but you need 60....to move forward.
It was not bipartisan. I don’t count one person as a bipartisan effort.
Good. I love a little Obama smackdown.
Now, let’s smack him out in November, for good.
well whatever. The headline is correct in that Republicans as a bloc killed this bill with only one defection. The democrats sure as heck did not kill it. The Republicans killed it and got it done.
U.S. Constitution - Article 1 Section 7
All bills for raising Revenue shall originate in the House of Representatives
Collins is engaged to a 73 year old. She is 59.
I live in Maine and I have no use for her.
Why can’t we lower the middle class tax rate down to Buffet’s rate?
I say the Republicans should offer up a non-binding resolution that Warren Buffett needs to STFU until he ponies up the billion dollars he already owes and refuses to pay.
Buffet's tax rate is already available to middle-class taxpayers. It's called the "capital gains tax".
I know, so lets reduce the tax rates on all income to 15% so everyone can be happy and everyone can be paying their fair share.
Mark Kirk is recovering from a massive stroke. It’s as yet undetermined if he will be able to return ever.
But what about the 48% who pay no income tax.
Are they paying their "fair share"...?
One of the HUGE advantages to both the Steve Forbes no-loophole 17% flat-tax plan and FairTax (H.R. 25/S. 13) is that you no longer impose taxes on bank account interest, capital gains and stock dividend payments. This means you can save and invest essentially tax-free, and that would mean fully-funded banks and people willing to invest in business operations on US soil. This is why I want unprecedented income tax reform.
Pay Fair Share?
How about taxing the 49% of the population who pay NO taxes?
I live in Maine also. I knew she was engaged. Snowe ‘s husband, Jock has some issues. I think she tends to give in to the other side much too easily, but we could be doing much worse. For example, Pingree.
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