ok the Buffet Rule, our President's solution to fairness, tax policy reform, and deficit spending all wrapped up in a neat little package. Who could argue with that?
Except its none of these things.
Fairness - if our system was so broken, why after 5 years are we finally hearing about this? The facts (if anyone cares to listen to actual facts, instead of the lovely political rhetoric) are that the well off pay 60-80% of all tax revenue. So lets get past the percent paid and brackets on the brain, shall we? The road you travel down, the B-1 bomber in its silo, yep those wealthy ones with lots of capital gains - paying for most of it.
Tax policy reform - ha. At 70,000 pages of tax policy, lets add more!
Deficit spending. The real truth, as it came out today, is that implementing the Buffet rule would bring $46 billion to the Treasury over a 10 year period. Some context. That is $4.6 billion per year. Well remember that Stimulus, and all the unemployment benefits bequeathed on states to keep social order and protect the peace (and pay for food and rent)? Oregon netted over $2 billion in federal benefits. In context, $4.6 billion sounds like chump change.
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