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Well, the so-called Buffet Rule was rebuffed by the Senate last week, You know, the law which purports to bring fairness and equity by having rich people "pay their fair share" of taxes, arguing that the revenue generated, are critical in reparing an already fragle economy, which is sure to be an issue as Barack Obama seeks re-election. The Democrats, who are largely behind this effort, would argue that the GOP stance further substantiates its reputation as being the party of the rich (hmm. George Soros, Hollywood elites, the Kennedy's? Whatever). The GOP counters, that the rich do indeed pay a healthy share of their taxes, and should not be further "punished".
Of course, central to all of this, is Buffet's claims, which have been parroted by Obama, that his secretary pays more in taxes than he does. Is Mr. Buffet hiring? However, tax data seems to pay a much different picture. In fact, the ONLY way such claims could be true, if those "coddled" millionaires would simply refrain from taking the deductions which they've been used to, for some time.
Join us on Critical Discourse, to examine this contentious issue. We will examine the veracity or lack therof, of Mr. Buffet's claims, and just MAYBE, come up with our own suggestions to make things better for us all.
This is sure to be a spirited show, as my friend and colleague, bro. William, will most certainly weigh in on this.
In the meantime, I have left for your benefit, some informative web links, including a tax rate calculator, which just might surprise you, as to how much tax both the rich and not so rich, pay.
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