SeeingItThrough: Senate Republicans show favoritism toward billionaires
The recent Senate vote that defeated what became known as the “Buffet Rule” tells Americans who is controlling the country on fiscal matters. I’ll put it this way: tax loopholes are not made for you and me; tax breaks are made for the wealthy.
As you know, the Buffett Rule was named after the very rich investor Warren Buffett, who believes that millionaires and billionaires ought to pay their fair share in taxes. He proposed that these wealthy citizens should be subject to a 30% minimum federal income tax rate.
Unfortunately, the bill fell short of the 60 percent needed in the Senate with a 51 to 45 vote and only one Republican voting for it.
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