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 ...
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.
I glad it failed, the tax on margaritas and flip-flops is too high already
No, the Republicans have 47 seats and the Dems have 53 to include 2 Independents.
WTF is a fair share? I have never heard any of the geniuses running the government quantify that amount.
Like every other piece of statist, big government crap they try and pass, if they had incorporated some conservative ideals into the bill it’d probably pass. Instead, they chose to go leftist the whole way through and then act surprised when none of the sane republicans vote for it.
Perhaps you make a case for completely defunding the beast.
Republicans don’t control the Senate.
It's also a way of being able to charge you opponent of being for something and while at the same time he says he was against it. The vote FOR cloture and then vote against the bill.
So...you need 60 votes to end the filibuster...and the dems could only muster 51. Of course...I have always been of the opinion they ought to REALLy make them filibuster. This "psuedo"-filibuster stuff they do now is silly.
Eat it, Dingy.
Millions of Americans pay NO FEDERAL INCOME TAX. How fairs is that.
If there are 50,000,000 million Americans paying NO federal income taxes, the same amount of money the Buffet Tax would generate could be had by taxing these deadbeat, something for nothing, Americans $83 per month.
If you pay nothing toward the system why should you receive the benefits the system offers. EVERY American should pay something. That is FAIR.
I'm hoping for 60+ come November.