Sideshow in the Senate
When Chuck Schumer says a proposal to raise taxes on the “wealthy” is not about “class warfare,” you can assume it is about class warfare.
The Senate this week will vote on the Buffett rule, and seek to tax millionaires at the 30% tax rate. Obama’s Treasury Department says the tax increase will raise about $5 billion a year, less than one half of one percent of Obama’s $1.2 trillion budget deficit. (Can someday note this is less than Obama tossed to those green energy firms that went belly up?)
This is the same Democratic Senate that has not passed a budget in three years. The same Democratic Senate that unanimously voted down Obama’s 2012 budget. The same Democratic Senate that voted down Obama’s jobs bill last October. The same Democratic Senate that has refused to vote on any of the 30 plus jobs bills passed by the House.
So the public will get to see Democratic Senators who otherwise can’t agree on the time of day go on record in favor of a tax increase. Surely that will put 25 million people back to work, fix the deficit, and preserve Medicare for the next 40 years. Everybody feel better now?
No wonder Mitch McConnell is smiling.
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