• Senate GOP Blocks Buffett Rule, Suggests Suck-It Rule

    Mitch McConnellOkay, Senate Democrats. Republicans see your tax increase for millionaires

    Senate Republicans on Monday blocked a move to open debate on the so-called Buffett Rule, ensuring that a measure pressed for months by President Obama and Senate Democrats to ensure that the superrich pay a tax rate of at least 30 percent will not come to a decisive vote…

    Senate Democrats intend to return repeatedly to the legislation, named after the billionaire investor Warren Buffett, who has complained that he pays a lower effective tax rate than his secretary.

    And raise you additional tax benefits for wealthy people…

    On Thursday, House Republicans will counter with a proposed tax cut for businesses that they say would spur job creation but would cost the Treasury almost exactly what the Democrats’ tax increase would raise.

    Interesting bargaining technique. It's akin to the "How about if instead of me giving you back your daughter unharmed, I drown your son in the ocean" technique favored by Viking politics in days of old.


    Tags: Buffett Rule, Democrats, Money, Republicans, Senate, Taxes

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