Sen. Charles Schumer assured critics of the Buffett Rule that “we don’t begrudge wealth in this country, in fact, it is part of the American dream to apply yourself and become successful.” However, he argued that the “middle class can no longer bear the burden of reducing our deficits alone,” and that there needs to be “shared sacrifice.” via Capitol Confidential » Gillibrand, Schumer commit to support ‘Buffett Rule’ in showdown vote Monday.
Sen Schumer swears he and his fellow liberals don’t begrudge wealth but his actions prove otherwise. I can’t imagine anyone that feels that a wealthier person should pay less in taxes than a poorer person, but the Buffett Rule is more about getting back at the rich.
There are better ways to fix the tax code, like for one, scrapping the whole thing and simplifying it to a few rates and maybe a half dozen deductions. The Buffett Rule only add to the complexity of the IRS and worse pits Americans against each other.