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GOP Senators Derail 'Buffett Rule'

Democrats timed symbolic vote for day before taxes are due

By the Associated Press

Posted Apr 16, 2012 6:29 PM CDT

(AP) – Senate Republicans derailed a "Buffett rule" bill today, 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 bill would force the nation's top earners to pay at least 30% of their income in taxes,

The anti-climactic outcome was no surprise to anyone in a vote that was designed more to win over voters and embarrass senators in close races than to push legislation into law. In fact, Democrats purposely timed the vote for the day before peoples' taxes are due at the Internal Revenue Service. They believe the issue shows that Democrats are fighting for equity for the middle class. Republicans used the battle to accuse Democrats of pushing a political gimmick that would hurt the economy and create no jobs.

In this Feb. 15, 2010, file photo President Barack Obama congratulates Warren Buffett after presenting him with a 2010 Presidential Medal of Freedom at the White House in Washington.
In this Feb. 15, 2010, file photo President Barack Obama congratulates Warren Buffett after presenting him with a 2010 Presidential Medal of Freedom at the White House in Washington.   (Carolyn Kaster)
Senate Minority Leader Mitch McConnell, R-Ky., answers questions from reporters on Capitol Hill in Washington, Friday, March 23, 2012.
Senate Minority Leader Mitch McConnell, R-Ky., answers questions from reporters on Capitol Hill in Washington, Friday, March 23, 2012.   (AP Photo/J. Scott Applewhite)
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COMMENTS
Showing 3 of 69 comments
Steviejeep
Apr 17, 2012 11:23 PM CDT
"Our number one goal is to balance the budget, unless it involves rich people paying their fair share" - GOP
ERICAIELLO
Apr 17, 2012 2:32 PM CDT
I know its hard but we ( the serious people who comment on Newser ) must come together & not reply to this Troll called NDT anymore. His cut & paste tactics are becoming increasingly more frequent & annoying. Check out how many times he has done this just concerning this one article & then multiply that out with all the articles on Newser in one day. He's a troll not worthy of serious debate & I will not respond to him in the future
Non-deep-thinker
Apr 17, 2012 8:54 AM CDT
The Buffett Rule is a cheap political stunt, nothing more. It’s primary purpose is to create some fake headlines and smoke and mirrors to hide all the other failures behind. Charles Krauthammer summed it up quite nicely in a single paragraph: “The Joint Committee on Taxation estimates this new tax would yield between $4 billion and $5 billion a year. If we collect the Buffett tax for the next 250 years, it would not cover the Obama deficit for 2011 alone. As an approach to our debt, the Buffett Rule is a farce. Yet Obama repeated the claim again this week. “It will help us close our deficit.” Does he think we’re stupid?” --------------------------------------------------------------------------------------- The plain fact is that every moment spent talking about this ridiculous irrelevancy is a moment NOT spent talking about all the other failures. That is it's sole purpose. It’s the puff of smoke a magician sends up in the air while his other hand is busy doing something else -- the hope of fooling, not just the most gullible, the most easily fooled, but the regular audience as well.

Copyright 2013 Newser, LLC. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.

 
Congress • taxes • US Senate • Buffett Rule

 
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