Now that the Buffett tax is dead (or is it?), what was it based on?

Orange Punch, The Orange County Register political commentary blog ^ | 4-18-2012 | Mark Landsbaum

[Mark Landsbaum]

Defeat in the Senate of the class warfare bill known as the Buffett Rule, gives conservatives something to crow about, liberals something to whine about and the president something to campaign on in his reelection campaign. The latter was probably the intention all along.

But the almost religious desire to soak the rich has become pathological among Democrats and leftists. Two ballot initiatives in California would pile on, and you can bet we haven’t heard the last of Barack Obama singing the praises of disproportionately taking money from people who make more than you do.

What’s behind this, other than the obvious covetousness, greed and envy, so cleverly called “the progressive tax”?...

[muawiyah]

i'm all in favor of taking money from the rich but only after they're dead, and even then I wouldn't give it to the government.

You can see the difference between a real conservative point of view and that of the democrats.

Again, one more time ~ Democrats want to strip live rich people of their last penny and give it to the government. Conservatives are happy to let them die first, and then take it for themselves, or the heirs ~ and never for the government.

Obviously these two points of view are incompatible!

[silverleaf]

Now that Buffet is down and out, lets hear it for a new rule where rich people who use tax loopholes to pay a 20% tax rate, voluntarily write a check for another 10% of their income to the IRS

Hey, let’s call it “the obama fairness tax”!

[shibumi]

Click the Pic!

[Yo-Yo]

If Mr. Buffett or any other "1%-er" feels that they are not taxed enough, they are perfectly free to make a donation to the United States Treasury for any amount they choose.

What they're saying is that they want to pay more, but must have a gun to their head before they'll do it?

[NonValueAdded]

A: smoke, mirrors, and a PR campaign

[bassmaner]

Can anyone explain why the Senate held a vote on the so-called 'Buffett rule' (a tax increase), when it was not voted on in the House? I thought all revenue bills were supposed to originate in the House, and be approved by the House before a Senate vote.

Am I missing something?

[ozdragon]

Standard Oil was originally Headquartered in Cleveland, Ohio. The state of Ohio passed an income tax that only taxed persaonal income over $1,000,000 per year. The only person in the state that qualified was JDR. He then moved to New York which had no personal income tax.
Money moves to where it is welcome. Now many wealthy New Yorkers make their legal residence in Florida.