An attempt by Senate Democrats to pass a higher tax on millionaires failed Monday night, but the legislative defeat may prove to be a political gift to Democrats eager to counter Scott Brown’s image as a bipartisan everyman. The issue, pitched as a fairness argument, has received support in polls. But Massachusetts Democrats are using Brown’s opposition to the Buffett rule to argue that, on economic issues, he is closer to the national Republican Party than his image suggests.
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Comments
As we close out tax season, ask yourself if you as a federal, state, local property tax taxpayer believe government at all levels really has a handle on the spending side of the ledger. There is no doubt tax laws are unbalanced squeezing all segments of the middle class taxpayer. But the Buffett rule is nothing more than political theatre. For those of us (and I believe there are many of like mind) who believe in a strong role for government, let's work on restoring faith in knowing tax money is spent efficiently and with good results; regardless of whether one supports a particular program or not.
I think citizens of "Taxachusetts" are sick of taxes on anyone knowing that if allowed the middle class will be next.. When it comes to Nov., likeability will be a key issue and Sen. Warren blows away Professor Warren in that category, and they still have to appear together in debates which I believe will benefit the senator. And independents here have said that they like the idea of having a senator from each party represent MA. and since they're the largest voting block it will be their votes that will be decisive. And I also believe that having Mitt Romney at the top of the ticket will help Brown.
I agree with Brown, government is so out of control, they waste billions and billions a year on nonsense programs, duplicate agencies, earmarks, special interest, lobbyists. The super committee couldn't even manage to find 120 billion a year to cut, start with the size of government, cut every agency 25%. We had the GSA spending 820,000. partying in Vegas, nice when you have 15.6 trillion in debt. Most people don't mind paying taxes if it isn't wasted. This is my favorite one: http://thetruthwins.com/archives/26-million-tax-dollars-spent-to-train-chinese-prostitutes-to-drink-responsibly-on-the-job
The Browny bloggers have come out in force so here's from the other side. Sen Brown is a calculator. He has now developed the same political approach as Mitt Romney. He knows he can not alienate his base and so takes a vote he hopes will be lost in the weeds further down the campaign, especially with independents. He will characterize this in trickle down fashion and a way to create jobs by keeping taxes the lowest they have been for the top 5%. Except these corporate owners shed jobs in this recession and neglected any patriotic inkling to invest in America's hard working citizens. Hopefully voters can see this for what it is. It is a vote for doing absolutely nothing to improve conditions in this country. It does not make things a whole lot worse but it does not move things in a positive direction either. He is now married to the view that those that have massive wealth have no obligation to their fellow citizens. He has put his hand up to vote to establish a royal class. The next march in this direction will be his work as a soldier since waving this well worn flag of patriotism is meant to blind those who are un-enrolled to his support of 2 disastrous wars. In short Sen Brown is using camouflage to hide his strong support for the status quo. Caveat emptor.
We need to reduce spending and raise taxes. Period. That is reality, not rhetoric. We will be forced endure an endless stream of nausea-inducing partisan posturing and punditry between now and November, but in the end, if sane people, not zealots, are elected, the Bush tax cuts will expire in January, and Congress will make some rational reductions in spending to avoid the scheduled devestating automatic cuts. I'm not interested in rehashing the past four years, I'm interested in the future, though I do use history as a reference, and the fact is, once tax rates return to historic norms, we will return to a sustainable path, and ultimately prosperity for our children.
I am sure he will be rewarded for his vote with contributions for the campaign (aka bribes). His masters will most likely provide a job if he is defeated. He has gotten a taste of the good life and does not want to have to start chasing ambulances.
You cannot on the one hand entertain Grover Norquist and on the other hand claim to be bipartisan. Scotty is in over his head again.
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"war on women" Sen Brown was for it before he will be against it. His co-sponsorship of the Blunt Amendment shows he was even an instigator. What the Senator has opted out on is the notion that we still need each other to be as healthy and productive as possible. He believes in the disproved "trickle down theory." This is just another niche on the barrel to make sure it stays that way.
Cutting government spending in a weak economy: deeply stupid. Raising taxes on people tend to bank their income: fairly smart. Scott Brown claiming to be a moderate and then doing exactly what his wingnut masters tell him to: very telling.
Scott Brown is showing his true colors. He's a pro-millionaire Republican, not a moderate.
Political gimmick by Democrats and Obama. What's funny is that Buffet is spending millions to fight IRS over his tax. If he and other rich liberals want to pay more, all they have to do is give a voluntary payment to the Government.
The parties culture at the GSA prove that there is plenty of waste in government. We just need leadership at the top to communicate that the party is over. Combine that with a simplification of the tax code, removing all the exemptions and give aways and you don't need to raise taxes. The Buffet Rule is just another layer, a gimmick thrown on top of the tax code.
Case closed...was on the fence about Brown....now, it's just very clear to me where his allegiance is.....it's not to the 'everyman"...you .lost my support senator in the election.
Predictable! Anytime he does something that liberals DO like, such as the recent law against Congressional insider trading, the cry from the left is that he's faking it because he's scared of Warren.
You are quite right. I wish I were more optimistic but I see the partisan posturing and punditry persisting (I liked your use of alliteration so much I felt it deserved to be carried one further). Of course, to the extent that politics is warfare without violence, all's fair, be it attacks on the Senator for his vote or on his opponent for her positions. The Romans cleaned their political houses by killing each other off; I have to wonder if they knew something we don't. Then again, Rome fell.
My hero, The Great Panderer, Disciple of Norqusit and do you really think we are that stupid. This has nothing to do with protecting small businesses. If you mean your private equity friends and Wall St. well I guess you are right. What this has to do with fairness. When many multimillionaires are saying that this is the right thing to do and close to 75% of the population are saying it is the right thing to do, why in heavens name would you vote against it. Well, let me tell you REPUBLICAN Sen. Brown , you are anything but independent and an advocate for the people of Massachusetts. We will not get fooled again.. One and Done…
Dah. He is a Republican. He is going to vote with them SOMETIMES. Not crazy about this vote, but think he's shown his independence in other votes.
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How's this for a convenient typo. From the article: "The memo highlighted Warren's support for President Obama's health law, which the campaign said would raise taxes by $500 million..." Of course, it should be $500 billion. Nice try, Noah.
Buffett is the biggest Tax Cheat. He is refusing to pay the IRS hundreds on millions of dollars. Talk about not paying your fair share. He also is paid by taking a distribution, not a W2. At anytime he could get a W2. What drives me crazy is that hedge fund managers and Buffet will always get distributions and be taxed at 15%. The Buffet rule will have very little effect on HF and Buffett made sure of this. Two years ago, Buffett stated that he wanted to tax shelter his money to the Gates foundation, because he was horrified with the way the Goverment would spend his money. We need need real tax reform and 48% of Americans paying nothing is lame. Obama can't run on his record so he has to pit everyone against each other. That's change you can believe in!
The top 10% of earners pay 70% of Federal Income taxes. To those of you who support the so-called Buffett Rule, what would be a "fair" percentage for them to pay? Please note also the total hypocrisy of 1% Warren, who won't say if she paid the optional higher rate on her MA taxes. I'll take that to ba a "no".
millionaires already pay their fair share of taxes. the "real" issue is job creation and getting more people involved. most politicians just want to turn this into a game of divide the nation and benefit politically. those politicians have a name: democrats.
I am not opposed to the Buffett Rule because I am opposed to raising income taxes on the wealthiest Americans. I am opposed to the Buffett Rule because it would double to 30 percent the capital gains tax on one group of investors and therefore reduce exactly the kind of capital investments we need to get our economy growing again and create jobs. To protect America from being drowned in public debt we will eventually have to raise revenues, hopefully through broad tax reform, and, of course, we will also have to cut expenditures, particularly the rate of increased spending on so-called entitlement programs. But that is different from the question of how to tax gains on capital investments. I have long believed in the value of having a lower tax on capital gains than on regular income because capital investments are one of the engines that has driven this great economy of ours, made us the land of opportunity, and created the American middle class. Someone once said that if you take the "capital" out of capitalism, all you have left is an "ism." There is a lot of truth in that play on words. ****Senator Joseph Lieberman on the Phoney Baloney Buffett Rule
Just to know what we are talking about the number of people with adjusted incomes of 1M or more is 321,294. They must mostly live in Tennessee since Rep Washburn asserted that such a law would impact 2 to 300,000 "small business owners" in her state. This is the basic Republican tactic. Throwing up completely false or its equivalent completely out of context statement and when researched and shown it is untrue, along comes another one. Once on this junket you can't usually get a word in edgewise as they filibuster you to death. The plan is to make you exhausted and let them have their wrongful way. As George Bush wrote on a napkin and slipped this well publicized note to Tony Blair when S. Hussein was captured--"Let freedom(their kind) REIGN," instead of RING.