The final count was 51 votes in favor of the Buffett rule bill, which would set a minimum tax rate for those with income over 1 million annually. That means it passed, right? Nope, you forget that the Senate Republicans rule from the minority, by filibustering everything. The Buffett rule passed by a majority vote, but was then defeated by parliamentary Senate tradition.
How much support does the Buffett rule have among the general public? In the latest poll, it is supported by 72% of Americans. So it must be wrong. :)
Fareed Zakaria, who I happen to regard as a bright guy, offered the opinion that the Buffett rule is a good thing and should have passed. He noted that it would only solve 1% of our deficit mess, and would need to be combined with many other measures in a broad package to simplify taxation, tax higher incomes more, and cut spending including military and entitlements.
of course, right now that is a non-starter, since Senate Republicans from a minority vote are happy to tell 72% of the American people that they are wrong.
have a nice day!!
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Comments: 6
72%, I doubt it. 40% of the TP, wth? I wonder how the questions are worded.
I didn't see 1% stat or him suggesting to cut military and entitlements in the article.
I did see "revenue from the tax is clearly trivial" and "we have is something more on the lines of a gimmick."