OBAMA, BUFFETT AND A NEW TAX "PROPOSAL"
TAX BILL FOR BUFFETT AND CRONIES
I am altering my post of 04/11 in which I recommended Republicans support Obama and Buffett but assure the "Buffett Rule" only applied to the top earners -- Buffett and his ilk. I realize the inevitability of such a tax being expanded to every tax payer except, of course, those of the dependent class who pay no taxes today. Therefore, I propose that Buffett and all of those who claim to "want to pay more taxes" (but don't write volunteer checks!) sign a pledge to that end. Then develop legislation to tax just those people, with specific names, and deny all of the shelters they use now -- foundations and all deductions. Illegal? Not to worry. Do it by executive order whereby everything is "legal."
The only people to whom this tax would be extended would be those who asked to be included -- call it an "opt-in with Buffett rule." Below is a modification of a post I made on October 11 to this effect.
If this seems silly, it may be, but it is no sillier than Obama's and Buffett's charade. But, it is honest!
04/11 PLAN MODIFIED
I suggest Republicans stop objecting to taxing Warren Buffett more and honor his "wishes." They should line up all of those high rollers who have supported Buffett.... yes, take names! Then introduce a bill to tax Buffett and all of his supporters specifically by name at 90% of all income over $3 million, including capital gains. Eliminate tax dodging facilities such as their foundations, which probably would not pass scrutiny for effectiveness anyway. Bill Gates has reported his foundation's funding for education has failed to improve education. Let's require an audit of all of Buffett's foundations. Now!
I will try to find a sponsor for such a bill. Maybe we can take up collection to rent a bus, or at least a stretch van, to tour the country to sell the plan. Or maybe Obama would let us tag along on his million-dollar bus. Or, maybe Buffett will fund our travels and expenses. We'll call the plan the The Buffett Hypocritic Tax in his honor (oops, must find a different word).