Categorized | Senate News Briefing

Obama Defends Buffett Tax Which “Isn’t Going To Balance The Budget” And “Won’t Take A Single Person Off The Unemployment Line”

Once again, President Obama took time today to press for a tax hike, his “Buffett Tax,” instead of addressing unemployment, high gas prices, or even this country’s debt crisis. Of course, the Buffett Tax would do basically nothing to help solve any of these serious problems.


Senate Republican Leader Mitch McConnell blasted Obama’s focus on this tax hike in a statement this morning, saying, “Sadly, an administration that promised it would focus on jobs is wasting yet another day on a political event that won’t take a single person off the unemployment line. With millions out of work, gas at nearly $4.00 a gallon, and the election still seven months away, Republicans are calling on the President to join us in support of the dozens of jobs and energy bills that have passed the House but are stalled in the Democrat-led Senate. We should be focused on jobs and energy legislation that can pass—not tax-hike show-votes designed to fail.”


The White House itself has said that the Buffet Tax “was never our plan to bring the deficit down and get the debt under control” and according to The Hill today, “Sen. Chris Coons (D-Del.) on Wednesday acknowledged GOP criticisms that the Obama administration’s Buffett Rule ‘isn’t going to balance the budget,’ but argued that the proposal was important as a matter of ‘values’ and ‘fairness.’ ‘This is an issue about fairness,’ Coons said on MSNBC. ‘It isn’t going to balance the budget, but it is important for values and for showing some fairness.’”


And National Journal wrote yesterday that “[i]f you’re an unemployed American . . . . you’ll realize the Buffett Rule has nothing to do with helping you, or 13 million other Americans looking for work as of March, find a job.”


Interestingly, the president was rather defensive about his tax proposal this morning. The AP notes, “President Barack Obama says his call for raising taxes on millionaires is not a redistribution of wealth . . . .” And Yahoo News writes, “President Barack Obama defended his ‘Buffett Rule’ proposal for higher taxes on the very rich Wednesday, denying it was a reelection campaign ‘gimmick’ that will do little to close the deficit or spur job growth.”


Of course, National Journal pegged the Buffett Tax yesterday, with an analysis piece concluding that it is in fact a political gimmick: “[I]t tells America’s job-seekers, don’t worry, we’re going to make the tax code look more fair to you. Lots of polls suggest that’s a good political argument. But that’s what it is: a political pitch.”

About Tom White

Tom is a US Navy Veteran, owns an Insurance Agency and is currently an IT Manager for a Virginia Distributor. He has been published in American Thinker, currently writes for the Richmond Examiner as well as Virginia Right! Blog. Tom lives in Hanover County, Va and is involved in politics at every level and is a Recovering Republican who has finally had enough of the War on Conservatives in progress with the Leadership of the GOP on a National Level.

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Tom White Says:

Nothing is more conservative than a republican wanting to get their majority back. And nothing is more liberal than a republican WITH a majority.

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