'Buffetting' the Tax Code
Monday night's attempt at a Senate vote on the Buffett Rule, imposing a 30% minimum tax on millionaires, would affect only one in 1,000 (or as few as 200,000) taxpayers. Thus, this is all about election-year messaging from Hill Democrats and President Obama -- not the true goal of tax fairness via comprehensive reform, which the White House has ignored even while confronted with recommendations from its own Simpson-Bowles deficit reduction commission.
While some have seen good politics in the poll-tested maneuver, I believe Obama might be leading his party to battle carrying knives to a gunfight. In other words, the Dems might win this narrow battle over the merits but lose the political war for failure to engage on broader issues that Americans care about far more....673 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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