Let's hear the complaints, Lefties.

Buffett Rule Antidote

By STEPHEN MOORE

While the Senate voted this week on the Buffett Rule millionaire tax hike, House Republicans were pushing for a 20% business tax cut. The GOP House leadership plan cuts tax rates for every business with fewer than 500 employees. This means the highest personal income tax rate applied to small business owners and investors would fall to 28% from 35%. President Obama wants that rate to rise to 41% next year.

"While the Senate is raising taxes, we want to be cutting them," a House leadership aide tells me. House Majority Leader Eric Cantor has already announced his intention to prevent the Buffett tax from coming to a vote in the House.

The House tax cut is consistent with the Paul Ryan budget, which would cut the top income tax rate to as low as 25%. Mr. Cantor says the GOP bill would help "22 million small businesses" retain their capital, and he points to a Joint Tax Committee analysis that certifies that conclusion. Under the new law, the lower rate would apply whether a business pays taxes as a corporation, partnership or sole proprietorship. It is estimated to be a $46 billion tax cut.

Almost all Republicans are expected to vote for this Small Business Tax Cut Act; what is uncertain is how many Democrats will vote for the measure. Some liberal members are already denouncing the act as a gimmick, but since only businesses get the tax cut it can easily be defended as a jobs booster. But why do Republicans stop the tax cut at businesses with more than 500 employees? Are the Republicans also afraid of class warfare charges?

-30-

JMO, but fu$# Warren Buffet. Whatever he is selling I ain't buying.

I trust those little darting beady eyes, as far as I could throw them.  Actually, I wouldn't even trust him then, 20 yards might be to much wiggle room.  

Ring...BOOM...snow. -Hatrick Penry

Learn something.  Anything.  Please.

You guys realize, I hope, that this is all Obama smoke-and-mirrors, this 'Buffet rule' income tax hike.

Are you aware that people in Buffet's bracket don't "earn" income? That's what the tax is meant to raise money on: earned income. Not on dividends, or capital gains, or deferred compensation stock options, the stuff that fuels the Buffet-types' bank accounts.

Cut all taxes to zero!  Then watch us flourish!

I stil say a flat tax on all income regardless of source, plus a national sales/excise tax on all purchases other than food, medical, and housing (the essentials).

Adequate would be ten percent on all income, two percent on all purchases.

On the sales tax portion, no subsidies or refunds other than what the states now grant state sales tax payers.

On income, proportionate deductions for children, for losses from theft, for mortgage interest and state/county/city taxes.

KISS= Keep It Simple, Stupid.