The so-called 'Buffett Rule' - a proposed minimum tax rate for millionaires named for billionaire Warren Buffett - failed Monday in a procedural vote in the U.S. Senate.
Republicans called the measure a divisive Democratic distraction from the nation's real problems that would not address the economy's real woes, reported FoxNews.com
"This legislation will do nothing with regard to job creation, with regard to gas prices, with regard to economic recovery," Sen. Jon Kyl of Arizona, the No. 2 Senate GOP leader, was quoted as saying on the website.
"Only around 210,000 taxpayers , a bit over 1 of every 1,000 , would face higher federal taxes if the measure were enacted, according to an estimate by one respected bipartisan research group," reported philly.com.
What do you think? Are you in favor of this change in the tax codes? Take our poll and add your thoughts in the comments.
repeal CFMA of 2000 close loopholes surtax corporations that either export jobs or import aliens to do the work of Americans since 1980 we have been told that giving to the wealthy is our salvation and the only way to go because they invest and they create jobs and bla blah blah, BS, most jobs are created by small businesses and start ups, and we gave them 30 years to prove Trickle Down would be great for us all, look around, we have fallen behind while the rich enjoyed raises of 300%. A strong economy needs a strong middle class that has cash left over from mortgage, energy, and gas to drive to work to support discretionary spending, lots of it. Its not Rocket Science, they wrote these bills, not our politicians, simple repeals are all that are required.
That was the entire concept of CFMA of 2000, it removed all financial, commodities and other regulations that were written after the crashes in the early 1900's. It's all in the video.
Brown but it's actually Barney Fife wow i feel like a weights been lifted...
The Nationalsozialistische Deutsche Arbeiterpartei Party, commonly known in English as the Nazi Party, was voted into power by the German people in 1932. Yet, it was the culmination of years and years of poor choices by the Germanic people. They were a democracy, just like us. They got what they deserved, we are starting to get what we deserve. WE VOTED THEM IN!!! FDR started us down this rabbit hole 80 years ago when the constitution began to become irrelevant. It's not one specific group or another, one bill or another, it is a culmination of voting in leaders who ignored the constitution and became drunk with power. The rich always try to get richer. Every society has a segment of people who are content being poor and subsidized. These concepts are as old as dirt. True democracies last only so long historically.
Control the media, control the press, control the entertainment industry, identify the villains who are responsible for all of your problems, control the work force, control industrialization, gun control, lie, lie, lie and lie again....big ones, lie so big that the lies just have to be true. Suppress opposition, pander to the weak minded, criticize the strong and successful...notice anything? Seriously, watch it, you'll get kind of freaked out...
Ed Munster was a Republican State Senator for many years and ran for Congress. We don't see eye to eye at all but when you do what you just did you've gained nothing, although I seriously doubt it is possible to educate any republican about the many ways they have destroyed the nation and the middle class, they just can't see it, even though we all lived through 2000-2008. I do not agree at all with the republican mentality of cutting more govt regulations and spending and propping up corporations that are doing great, corporations own SCOTUS and they got SCOTUS to declare that corporations have the same rights as people. Fine, cut the cord then Republicans, you expect people to go off welfare and state assistance when they get a job, FINE, corporations too, off the bottle , off the feeding tube, no more govt aid to any corporations that can stand on their own. They want the same rights?? fine you got them.
In the video too, they set it up to fail, removed regulations that would normally not qualify people, so the loans would fail. They brought back the old Bucket Shops, betting parlors, they bet against themselves, they lost, people lost their homes and then we bailed them out. They actually thought that by legalizing everything that had been regulated to banned after the crashes in the early 1900's that there wouldn't be another crash, that they would just get rich. How freeeking stupid is that?? watch the video and share it, thats what happened to our economy, it dominoed, CFMA of 2000 caused it all, high energy prices, unregulated financing, unregulated bucket shops, unregulated Wall St
As usually happens, it becomes a train wreck about corporations, class warfare, poor, rich, empathy, socialism, capitalism, etc. Why are we talking about the Buffet Rule? Because just like a strung out 'junkie', the government needs more money. Why don't we just conviscate all the wealth of the top 1%? Because It still would not be enough money to reduce the $11.3 trillion dollars in National debt. Stop the Madness. Stop the Spending.
The government needs more money because of too much corporate welfare. Answer a few simple questions if you can. Why should we taxpayers subsidize big oil when it pulls in @50 billion in clear profits every quarter? Why was it OK for W and Cheney to give Halliburton and others NO BID CONTRACTS???? WASN'T THAT WASTEFUL?? The Govt just announced today that the Veterans Admin is adding over 1,000 specialists to help treat our armed forces who are having stress disorders thanks to the Bush family invading Iraq, the cost of that war rises daily. Lesson learned?? When the reasons for invading Iraq were touted many especially Rumsfeld stated that we souldn't worry about cost because Iraqi Oil would pay us back for freeing them from the "bad man". Now that Halliburton and Bush Inc control the oil we hear nothing about being paid back, explain that, how is that OK but aid to the blind and handicapped has to be cut?? You're simplistic, Stop the Madness, Stop the spending??? on what? be specific. It's people like you that are destroying our way of life by buying into the BS you are fed. Just in CT billions yearly to UTC, Pfizer, CIGNA, and others, a stupid busway to nowhere to bus illegals into Hartford for corporations. there's your waste, no one wants to confiscate the 1% wealth, we're just tired of being screwed and want them to pay their share, .....unbelieveable you understand nothing
Since 1980 Phil Gramm and others conspired to remove as many regulations as they can, all of which were put in place after we were screwed over, either by corporations, employers, pollution, DDT, financial institutions and the result is we got royally screwed over. So now you people walk around repeating "cut spending" and you don't even know what you are talking about, you're repeating rhetoric, truth does not come in sound bites or on fauxnews. I posted the truth above so you could learn, I spent years researching it, its all accurate and I challenge any of you to prove it wrong, not with rhetoric, with facts. S/S and medicare need to be increased NOT cut, don't be a sucker, they have taken and taken and they want more, that is the disease known a GREED. CFMA of 2000 was the final straw, our system couldn't take anymore because of high fuel costs people started losing jobs, it dominoed, you can't take gas at $1.85 and raise it to $4 and think consumers and businesses will just absorb and keep on, it's really a shame to see so many people vote against the Buffet rule simply because they believe the bull on faux or Rush. Why would you want to allow the rich to skirt paying any income tax? Wouldn't you want them to pay the same rate you do? You allow them to cut spending youll be cutting your own throat, fools.
On March 4, 2004, Senators Levin (D-MI) and Dorgan (D-ND) released a GAO report on tax avoidance by federal contractors. At the time, Halliburton had 17 subsidiaries in tax haven countries, including 13 in the Cayman Islands which does not impose a corporate tax. In 2002, Citizen Works Citizen Works found that Halliburton ranked 8th Among the Fortune 500 companies with the most offshore tax haven subsidiaries. Dorgan, who chairs the Senate Democratic Policy Committee, has also noted that Halliburton avoids accountability by hiring employees under its subsidiary in the Cayman Islands, a tax haven country in the Caribbean, which allows for avoidance of U.S. tax, worker safety and other laws. "We've had a report showing a large percentage of corporations doing business with the federal government that are creating subsidiaries in tax haven countries," he said. "They want all of the largesse of contracting with our government and none of the responsibilities of paying taxes." During Dick Cheney's tenure as Halliburton's CEO, the number of company subsidiaries located in offshore tax havens increased from 9 (in 1995) to 44 (in 1999). One of these subsidiaries (Halliburton Products and Services Ltd.), was incorporated in the Caiman Islands, and was used to get around sanctions on doing business in Iran. (Erwin Seba, Reuters, March 20, 2003)
– Thirty corporations paid less than nothing in aggregate federal income taxes over the entire 2008-10 period. These companies, whose pretax U.S. profits totaled $160 billion over the three years, included: Pepco Holdings (–57.6% tax rate), General Electric (–45.3%), DuPont (–3.4%), Verizon (–2.9%), Boeing (–1.8%), Wells Fargo (–1.4%) and Honeywell (–0.7%). Are you getting it?
That should upset you. So not only are they not paying their fair share, which cost us billions since 2000 every year, we have to take money out of the system to pay them, AND YOU WANT TO CUT SERVICES, PD FD, EDUCATION, S/S, MEDICARE, ETC ETC SO THAT CAN NOT ONLY CONTINUE IT CAN INCREASE??? wow, you people really have no clue and I don't mind telling you, what will be left for your children and grandchildren?
you understand nothing" Gene name the name of one rich person who has stolen money from you? Name someone! I can name someone that takes money out of my pay check weekly? Can you?
Try to follow this... Corporations pay off our politicians in many ways, recently the stock insider trading was exposed. Then they get them to pass laws that they, the corporations wrote, generally these are tax laws. Over the years, decades, they have fine tuned this so that many corporations now not only do not pay any taxes, we THE TAXPAYERS actually give them money back, WHEN THEY DIDN'T PAY IN THE FIRST PLACE. They have also set this up for themselves personally in many ways, so we have the very rich and the very large corporations not paying any taxes and taking from the system on top of it and they control the news so its not being covered or exposed as it should. DO YOU GET IT??? Imagine not paying taxes all year and then getting a rebate check on top of it. Wouldn't you say that would crush our system financially, especially when so many are out of work which means those tax dollars are not coming in too. That is where our loss is, try to fathom that. In the meantime they are setting us up against eachother, dems vs repubs, alwasy this big war of BS and theories to distract us. It's not you vs me, or dems vs repubs. It us vs them. I posted the proof, you don't want to learn?, to know what is really going on? remain
Remain with your head in the sand, don't learn.
Social welfare would not be needed as much if the greedy had not been so greedy. the issue is getting people to work, and you can't do that when there are no jobs. In good times however there are people who live on welfare and that must end, but corporate welfare has to end first. I also believe there needs to be a tax levy on corporations that move or have moved jobs overseas, without consumers that are employed there is no economy. as to foreign aid, read the book Confessions of an Economic Hitman, it describes our foreign aid system, which is basically set up to pad the pockets of Halliburton, Bechtel, Brown & Root and others, it is designed so that these certain corporations get the contracts for the foreign work, it is also designed so the host country can't repay it, so we the U.S. taxpayers do, that is what happened when you hear on the news that our "govt forgave the foreign aid owed by X country today". Those corporations still get paid, by us. Saudi Arabia is the only sucess story for them, Iraq is the latest failure, they try to get them to be "our ally", the issue with Hussein I believe was Iran/Contra, he was on board up till then, our bestest newest buddy, selling him weapons and the gas he used on the Kurds, but at the same time Bush was selling weapons to Iran, his enemy, iran/Contra. makes you wonder who the bad guy really is
PDY~ I'm back and i gotta say trickle down does work. When Mr. or Mrs. Money bags makes a ton of money than he or she buys lots of cars, fancy houses, employees people to work in their houses and run their companies. They buy furniture .. they travel, they prosper and grow and SPEND their money, they stimulate the economy in a way that I could never... Sadly I'm not Mr. or Mrs Money bags but I will benefit in some way:) Please trust me when I say that I have never been employeed by a poor person. take care~