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{"id":15796,"date":"2012-05-01T07:00:52","date_gmt":"2012-05-01T12:00:52","guid":{"rendered":"http:\/\/www.occasionalplanet.org\/?p=15796"},"modified":"2013-02-03T09:10:14","modified_gmt":"2013-02-03T15:10:14","slug":"buffett-rule-fairness-republican-curmudgeons-just-say-no","status":"publish","type":"post","link":"https:\/\/occasionalplanet.org\/2012\/05\/01\/buffett-rule-fairness-republican-curmudgeons-just-say-no\/","title":{"rendered":"Buffett Rule? Fairness? Republican curmudgeons just say no."},"content":{"rendered":"
It\u2019s a familiar script:<\/p>\n
1. The Senate fails to pass a bill because even despite near uniform support from Democrats, the proposal does not come close to the 60 votes necessary to block a filibuster.<\/p>\n
2. The bill has no chance in the House because, if the bill might help those in need, the Republicans have no interest in it.<\/p>\n
3. The original bill addressed the issue in a watered-down manner, and even if it passed, the problem would only be half-addressed.<\/p>\n
Once again this was the case earlier in April 2012 with the so-called Buffett Rule, a proposal to reform the United States tax code. The rule was the brainchild of Warren Buffett, the world\u2019s third wealthiest individual. It was quickly adopted by President Barack Obama and others, including former President William Clinton.<\/p>\n
Buffett, an investor based in Omaha, was appalled when he learned several years ago that his secretary was paying a higher income tax rate than he was. While he did not reveal his secretary\u2019s income, we know that Buffett\u2019s net wealth is well over $40 billion and has been known to increase (or fall) as much as eight to ten billion dollars a year.<\/p>\n