Buffett rule would garner $31 billion in taxes

Mar 20, 2012 | Posted by: roboblogger | Full story: CBS News

WASHINGTON -- A bill designed to enact President Barack Obama's plan for a "Buffett rule" tax on the wealthy would rake in just $31 billion over the next 11 years, according to an estimate by Congress' official tax analysts obtained by The Associated Press.

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1 - 20 of 49 Comments Last updated Mar 25, 2012
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Since: Nov 08

Location hidden

#1 Mar 20, 2012
A drop in the bucket.....wouldn't even pay Obama's gas bill.

CBS News) The National Debt has now increased more during President Obama's three years and two months in office than it did during 8 years of the George W. Bush presidency.

The Debt rose $4.899 trillion during the two terms of the Bush presidency. It has now gone up $4.939 trillion since President Obama took office.

The latest posting from the Bureau of Public Debt at the Treasury Department shows the National Debt now stands at $15.566 trillion. It was $10.626 trillion on President Bush's last day in office, which coincided with President Obama's first day.

The National Debt also now exceeds 100% of the nation's Gross Domestic Product, the total value of goods and services.
Ex-GOP Con

United States

#2 Mar 20, 2012
Unfortunately though no one wants to pay down the debt. Only spend spend spend. Then whine about the debt and spam with cheese. Like a clueless frenchman.

I say let the Bush Tax cuts expire and only after we've brought the debt down should we consider tax cuts again. Whatever happened to fiscal responsibility? Let's not pass the bill onto our children.

Since: Oct 10

Location hidden

#3 Mar 20, 2012
It's the spending stupid! Obingo is intentionally trying to collapse the economy. Why? Well let's just say none of the reasons are good......
Ex-GOP Con

United States

#5 Mar 20, 2012
It's not spending that is the problem. Everyone spends. Spending moves the economy. What is spending to someone is income to someone else.

The problem is spending and NOT wanting to pay for it.
goose

Chicago, IL

#6 Mar 20, 2012
Facts are a terrible thing aren't they.
You mean taxing the rich won't solve the problem?
Questioner

San Angelo, TX

#8 Mar 20, 2012
Ex-GOP Con wrote:
It's not spending that is the problem. Everyone spends. Spending moves the economy. What is spending to someone is income to someone else.
The problem is spending and NOT wanting to pay for it.
Isn't that the American Way ... borrow and spend, pay a portion now and then so you have good credit (so you can borrow more)... wages/salaries are enough to pay for the life you deserve ...

“Happiness comes through giving”

Since: Feb 08

Location hidden

#9 Mar 20, 2012
libs are scared wrote:
It's the spending stupid! Obingo is intentionally trying to collapse the economy. Why? Well let's just say none of the reasons are good......
Let's just say you should paste a "vacancy" sign on your forehead.

Since: Dec 07

Spring, TX

#11 Mar 20, 2012
Ex-GOP Con wrote:
It's not spending that is the problem. Everyone spends. Spending moves the economy. What is spending to someone is income to someone else.
The problem is spending and NOT wanting to pay for it.
Nobama's spending for shovel ready, cash for clunkers, solyndra and all the other failed green energy programs, obamacare new cost estimates have moved the economy alright. Moved us into deep red ink. Now he want's another trillion??

The dems are like kids in a candy store.
Frank Morris

France

#12 Mar 20, 2012
Lawrence Wolf wrote:
<quoted text>Let's just say you should paste a "vacancy" sign on your forehead.
Hey larry just lick your fingers and STFU.

“your life is great”

Since: Aug 09

you poop in clean water

#13 Mar 20, 2012
well that doesn't seem like very much.
maybe they should stop giving out endless unemployment, and allow ALL the tax cuts to expire, then maybe we would see some REAL debt depletion.

“your life is great”

Since: Aug 09

you poop in clean water

#14 Mar 20, 2012
Bluebonnets-Thistle wrote:
<quoted text>
Nobama's spending for shovel ready, cash for clunkers, solyndra and all the other failed green energy programs, obamacare new cost estimates have moved the economy alright. Moved us into deep red ink. Now he want's another trillion??
The dems are like kids in a candy store.
those were in the budget long before he took office.
it's the endless wars, endless unemployment, and tax cuts (across the board) that are killing our economy at this point.
Ex-GOP Con

United States

#15 Mar 20, 2012
Bluebonnets-Thistle wrote:
<quoted text>
Nobama's spending for shovel ready, cash for clunkers, solyndra and all the other failed green energy programs, obamacare new cost estimates have moved the economy alright. Moved us into deep red ink. Now he want's another trillion??
The dems are like kids in a candy store.
Mmmm..why don't you just worry about paying down our Bush GOP war debt, TARP,and bridges to nowhere before you worry about President Obama's debt. You just let those who voted him in worry about it.

You spend so much time worrying about someone elses debt and you haven't even taken care of your own Larry Craig..oh err..I mean GOPTE bagger.

“Sustainability Now!”

Since: May 08

Vadnais Heights

#16 Mar 20, 2012
anneutral wrote:
... allow ALL the tax cuts to expire, then maybe we would see some REAL debt depletion.
Great idea! This nonsense about keeping part of them in place for lower-income folk simply plays into the Grover Norquist tax phobia FANTASY.

America's greatest economic boom was post-WW2, when top-bracket rates were 90%. The second-largest boom was the late 1990s, when the top rate was 38%. Why do thinking people listen to Grover Norquist?
Ex-GOP Con

San Jose, CA

#17 Mar 20, 2012
Madaman wrote:
<quoted text>
Great idea! This nonsense about keeping part of them in place for lower-income folk simply plays into the Grover Norquist tax phobia FANTASY.
America's greatest economic boom was post-WW2, when top-bracket rates were 90%. The second-largest boom was the late 1990s, when the top rate was 38%. Why do thinking people listen to Grover Norquist?
I read/heard somewhere that as much as 90% of the GOPTEA in Congress signed Norquist's pledge. We really need to kick these hardliners out. The country has a massive debt to pay down from both partiers and these 90% want to kick the can down the road and pass it down to our children.

“Happiness comes through giving”

Since: Feb 08

Location hidden

#18 Mar 20, 2012
Frank Morris wrote:
<quoted text>Hey larry just lick your fingers and STFU.
Don't lick your fingers, considering where they've been.

“Sustainability Now!”

Since: May 08

Vadnais Heights

#19 Mar 20, 2012
Ex-GOP Con wrote:
<quoted text>
I read/heard somewhere that as much as 90% of the GOPTEA in Congress signed Norquist's pledge. We really need to kick these hardliners out. The country has a massive debt to pay down from both partiers and these 90% want to kick the can down the road and pass it down to our children.
ABSOLUTELY! These GOP dirtbags took an Oath of Office to uphold the Constitution -- NOT Grover Norquist! Can you imagine the secret Pledge they took?

(Hand over wallet) "I pledge Allegiance to Grover Norquist, and to the Folly for which He stands, cutting revenues at EVERY opportunity, One Nation, In Debt, Forever and Ever, Amen."

I confess I wasn't there -- but this IS how they vote!
Provocateur

Benicia, CA

#20 Mar 20, 2012
Republicans 2012, Keeping Millions Out of Work to Put One Man Out of a Job.

“Allcladrad”

Since: Jan 10

Thailand

#21 Mar 21, 2012
Chump change makes headlines.
We are intellectually challenged and politicians bank on it, pun intended.

The above comments point to the ability of them to control us. Rs are at fault, no, Ds are.

Truth? We all are. Unless we vote contrary to our previous history, nothing will stop the downhill race.

No incumbent should be returned to office, none.
Sick of Stupid

Santa Rosa Beach, FL

#22 Mar 21, 2012
Why would we raise taxes on the rich? The real money is in raping the poor.
cut off all their assistance first then tax them.
How can raising taxes on the wealthy work?

Raise the price of gas. Put a 100% sales tax on gass. If gas was $15.00 a gallon, and $8.00 was federal tax then the deficeit would be paid down and we would again have a surplus instead of a deficeit.

it is amazing how Obama turned $10 trillion in debt to $15 trillion,
but I find it much more interesting how Bush turned a surplus into $10 trillion in debt.

Who did more harm to the economy W or Obama?

“Allcladrad”

Since: Jan 10

Bangkok, Thailand

#23 Mar 21, 2012
Sick of Stupid,
Raising the cost of fuel penalizes poor more than rich. Who put us more in debt is a Sick of Stupid question, who cares, we are deeper in debt.

We need answers, not questions. Unelect is an answer, no incumbent should be returned to office, not a single one.

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