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“Tonight, Senate Republicans voted to block the Buffett Rule, choosing once again to protect tax breaks for the wealthiest few Americans at the expense of the middle class. The Buffett Rule is common sense. At a time when we have significant deficits to close and serious investments to make to strengthen our economy, we simply cannot afford to keep spending money on tax cuts that the wealthiest Americans don’t need and didn’t ask for. But it’s also about basic fairness—it’s just plain wrong that millions of middle-class Americans pay a higher share of their income in taxes than some millionaires and billionaires. One of the fundamental challenges of our time is building an economy where everyone gets a fair shot, everyone does their fair share, and everyone plays by the same rules. And I will continue to push Congress to take steps to not only restore economic security for the middle class and those trying to reach the middle class, but also to create an economy that’s built to last.” – President Obama in a statement on Monday’s vote
The Buffett Rule is supported by 72% of Americans, 53% of Republicans and 2% of GOP Senators. Even though the rule received majority approval in the Senate, Republicans had to show just how out of touch they are, filibustering it.
Wealthy Investment Banker: ‘It Is Ridiculous That I Pay Substantially Lower Taxes’ Than Working Americans

    Tonight, Senate Republicans voted to block the Buffett Rule, choosing once again to protect tax breaks for the wealthiest few Americans at the expense of the middle class. The Buffett Rule is common sense. At a time when we have significant deficits to close and serious investments to make to strengthen our economy, we simply cannot afford to keep spending money on tax cuts that the wealthiest Americans don’t need and didn’t ask for. But it’s also about basic fairness—it’s just plain wrong that millions of middle-class Americans pay a higher share of their income in taxes than some millionaires and billionaires. One of the fundamental challenges of our time is building an economy where everyone gets a fair shot, everyone does their fair share, and everyone plays by the same rules. And I will continue to push Congress to take steps to not only restore economic security for the middle class and those trying to reach the middle class, but also to create an economy that’s built to last.” – President Obama in a statement on Monday’s vote

    — 2 years ago with 20 notes
    #news  #politics  #buffett rule  #senate republicans  #republicans  #gop  #blocked buffett rule  #filibuster  #supported by 72% of americans  #tax fairness  #majority approval in the senate  #on the side of millionaires  #one percent  #99%  #tax cuts for the wealthy  #austerity for the rest of us  #class war  #income redistribution