Sen. John Thune (R.-S.D.) introduced the Senate version of a bill that would make it easier for those who voluntarily wanted to pay higher taxes to do so – a tongue-in-cheek jab at President Obama’s proposed “Buffett Rule” that would eliminate tax loopholes for the wealthiest Americans.
Thune introduced “The Buffett Rule Act of 2011†(S.1676), which would require the I.R.S. to provide a line on tax return forms inviting taxpayers to donate to the federal government. Any donations would be placed in a fund dedicated to paying down the national debt. A similar version of the bill was introduced last week in the House.
“If individuals like Warren Buffett or President Obama are inclined to donate their own personal money toward paying down the federal government’s debt, they ought to have that right to do so voluntarily,†said Thune in a statement. “This bill would make it easier for those wealthy individuals who feel they are currently under-taxed to pay more to the U.S. Treasury above and beyond their current obligations, without raising taxes on America’s job creators.â€
Talk about Prairie Values! I’m glad to see Thuneless is spending so much time drawing up legislation to help out the wealthy.
Well, no one said anyone in Congress did anything meaningful like creating jobs. Thune is no different.
Thune has done a good job of creating a meaningless job for himself. His irony is overwhelming, especially as he climbs the ladder trying to become the majority leader, something he told voters hurt SD when Daschle had the job.
I believe this is perfectly fair from Thune. Those who don’t like it can seek to elect someone else. Obama and others keep saying they want the rich to pay more and why not allow them?
What would you say is a fair tax rate for those making over 250,000?
I fundamentally believe that we should all pay the same rate unless making below the federal poverty level. Yet, I understand that we are in a progressive tax system therefore a flat tax is not possible. I would like people to come out with concrete proposals rather than just saying it is time for the wealthy to do their part. For example, I would say no tax deductions for any brackets. 10% tax rate for anyone with an income level above the federal poverty level to 100,000. 15% tax rate for anyone making from 100,000 to 250,000 a year. 20% rate for anyone making over 250,000 a year.
One could argue the percentage all day but these leaders should have to put a percentage on it.
I believe the bigger issue is that we all believe we should be able live like the people in the income level above us. We all need to learn to live within our means, myself included.
Why is it so conveniently forgotten that thanks to both Bushes, Clinton, and Obama the current tax rate for the highest income brackets is the lowest since the 50’s? Or that thanks to tax breaks and deductions only available to them that most in those brackets have taxable income reduced at a higher percentage than us?
Here’s good ammo why we shouldn’t be paying any Income Tax at all and why you are paying it. The ultra rich know there is no law and those who are at the level of the Federal Reserve members are above that as they issue the currency and only demand the income tax as a tool to deflate the value from a nation.
Save this link. It’s quite useful. http://www.nolanchart.com/article7643-the-federal-reserve-and-income-tax-working-in-tandem-or-seperate-institutions.html
“The purpose of the income tax was to raise money to maintain and expand the central government. The income tax offered an extremely ingenious way of accomplishing this objective. Income, which is earned within the individual states, would be collected and sent directly to the federal government.
This has brought about the absurdity of the states having to beg the federal government to return to them money that was initially generated within the states. With the power thus inversed, federal agents can meter and reward those activities within the states they wish to and also favor those states which have drawn influence and power within the federal system. Added to this, the ease at which federal projects can be funded without the consent of either the states or the taxpayers who are funding the projects.”
What you see above is simply Thune and Buffett playing a game as an illusion that income tax is a positive thing and that there are two sides to politics. I guarantee the only taxes they pay are just numbers on paper to serve as talking points. They both serve the military industrial complex in one way or another (Eugenics – Buffett and Al’CIA’da fear – Thune) while we should be disobedient towards all of them thus collapsing their system.