Republicans promise to block ‘Buffett rule’

[The Northerner]

A White House proposal to impose a new minimum tax rate on millionaires has come under immediate fire from congressional Republicans, who described it as class warfare and promised to block it.

The new tax, nicknamed the “Buffett rule” after Warren Buffett, the billionaire investor, will be announced by President Barack Obama on Monday as part of a proposal to reduce the US’s fiscal deficit. The initiative will be submitted to the “super-committee”, a congressional commission of prominent Republicans and Democrats which is due to produce proposals for long-term deficit reduction by late November.

On Sunday, Paul Ryan, the Republican chairman of the House of Representatives budget committee, attacked Mr Obama’s proposal. “It looks to me like the President wants to move down the class warfare path”, Mr Ryan told Fox News. “Class warfare...may make for really good politics, but it makes for rotten economics.”

Mitch McConnell, leader of the Republican minority in the Senate, told NBC: “It’s a bad thing to do in the middle of a downturn”.

Read more: http://www.ft.com/intl/cms/s/0/61050b1e-e210-11e0-9915-00144feabdc0.html?ftcamp=rss

[villager]

1. Good. Now hopefully Obama can govern *in opposition* to the Republicans, rather than *with* them....

n/t

[tblue]

3. If he doesn't, I will scream.

:o

[trueblue2007]

2. i feel if the gop goes against the jobs bill, VIOLENCE WILL BREAK OUT

AND THE VIOLENCE WILL BE DIRECTED AGAINST THEM

PEOPLE ARE FRUSTRATED AND HOPING MAD. MAD AS HELL AND THEY AREN'T GONNA TAKE IT. PEOPLE WILL TAKE TO THE STREETS. MAYBE EVEN ASSIGNATION?? POOR PEOPLE CAN'T EVEN AFFORD TO EAT ANYMORE. I FEAR FOR OUR NATION AND FOR OUR SAFETY

[progressoid]

4. And hopefully some of America will wake up and see who the GOP are fighting for.

It sure ain't us working stiffs.

[Tennessee Gal]

5. No, they are fighting for their wealthy political base, their contributors.

And their contributors have been given multiple outlets for donating thanks to the recent Supreme Court decision.

[liberal N proud]

6. A promise they made to the wealthiest Americans, Corporations and disillusioned

Anyone who does not see what the GOP stands for after this is either wealthy or delusional about ever being wealthy.

[unblock]

7. i love the politics of this bill. republicans want millionaire tax rates LOWER than the rest of us!

[GreenPartyVoter]

8. @#$%^&*() !!!!!!!!!!!!!!!!!!!!!!!!

It already is class warfare, and has been for decades. You make me SICK with your lies and scams, Paul Ryan.

[trotsky]

9. "It’s a bad thing to do in the middle of a downturn."

Um, Mitch, how exactly has cutting taxes for the wealthy helped?