Buffett Rule Likely to Get Sidestepped
21st March 2012
In fact, the rule would generate only about $47 billion in extra revenues over the next decade, according to a new estimate by the nonpartisan congressional Joint Committee on Taxation. That’s less than some outside experts had expected, and not enough to make a dent in federal deficits, which now are running at more than $1 trillion a year.
My, what a surprise. Aren’t you surprised? I’m sure surprised.
Of course, the writer presumes that the reason for it is to raise revenue, which is just a smokescreen. The ‘Buffet Rule’ isn’t intended to hurt the super-rich, but help prevent the merely-rich who aspire to be super-rich. Buffet and his fellow Crustians don’t want the rabble intruding on their activities.
March 22nd, 2012 at 08:45
Every time Congress starts talking about improving the “fairness” of the tax system, my taxes go up. I used to dream about being rich when I was a child. I never dreamed that it looked like this.