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BREAKING: GOP Derails ‘Buffett Rule’ Taxes on Wealthy

BREAKING: GOP Derails ‘Buffett Rule’ Taxes on Wealthy

 

Written by Alan Fram

WASHINGTON (AP) — Senate Republicans derailed a Democratic “Buffett rule” bill Monday forcing the nation’s top earners to pay at least 30 percent of their income in taxes, using the day before Americans’ taxes are due to defy President Barack Obama on one of his signature election-year issues.

By a near party-line 51-45 tally, senators voted to keep the bill alive but fell nine votes short of the 60 needed to continue debating the measure. The anti-climactic outcome was no surprise to anyone in a vote that designed more to win over voters and embarrass senators in close races than to push legislation into law.

Copyright 2012 The Associated Press

 

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AP Photo of House Minority Leader Nancy Pelosi and Rep. Sander Levin (D-Mich.) by J. Scott Applewhite, File

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80 comments

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12:06AM PDT on Apr 19, 2012

Lee W. #1 buffet owes about a billion dollars to the IRS that he's fighting . #2 Obama says the rich need to pay more taxes but yet he takes the deductions to bring his tax rate to 20% and his own party voted against the buffet rule . #3. How many people in his administration owe back taxes there's several. Peoe talk a great game but if they really want to pay more don't take the deductions or write the IRS a check or pay your back taxes that you owe .

12:58PM PDT on Apr 18, 2012

Just use a little history, facts and common sense to figure out how the Country fared under different administrations. For jobs, wages, fairness, unions, the debt, the middle class, income equity, equal rights, and women's rights We can look to 'Eisenhower, Carter, Kennedy, Johnson, FDR, Ford, George H.W. Bush, Clinton, and Obama. The not so good President's..Reagan, Nixon, George W. Bush, and not good in some areas, H.W.B, Carter, Ford. Overall our recent best Presidents have been Democrats. Certainly best for American workers.

8:13AM PDT on Apr 18, 2012

yea politics, lie cheat steal smile smile smile promise, smile smile smile deny deny deny pat your shoulder smile smile lie cheat steal yea politics

5:11AM PDT on Apr 18, 2012

Adam: You have a very convenient memory. Your party GOP inherented a balanced budget with a surplass and your party squander it. The GOP your two leaders Bush/Chaney stated,"being in debt is not a bad thing" So get your facts correct. But keep in mind, they still call themselves physical conservatives, how can that be? Smaller governement, bull too, under Bush/Chaney it grew. In reality your party is either confused or first liers, perhaps both and some.

9:44PM PDT on Apr 17, 2012

Thanks for posting.

5:54PM PDT on Apr 17, 2012

We knew all along that it wouldn't pass, so it's no surprise.

5:40PM PDT on Apr 17, 2012

Carole L. i dont care how much you make or dont make we need a fair tax system in this country.

5:31PM PDT on Apr 17, 2012

Silly politicians trying to play class warfare so they can get re-elected by the masses. Buffett is a hypocrite. Most of Buffett's income comes from dividends in his company which is already taxes at ~35% for corporate taxes and again at ~15% when the dividend are distributed.

So what do you think a fair tax is?

5:01PM PDT on Apr 17, 2012

No surprise the Republicans have shown themselves as bobble heads for the rich.

4:39PM PDT on Apr 17, 2012

Haha, the"Buffet rule", more like the "Buffet pose", just another ploy to get his name in the public eye while continuing to fight paying the back taxes he owes. If you are going to name anything after Buffet, it should be for his actions refusing to pay the taxes he owes, they can call it the "Buffet parry" or the "Buffet dodge". If Buffet gets out of paying his own taxes, he can sit and dine on lobster at his "Buffet buffet"

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