Romney: Buffett Tax is a 'gimmick'
Mitt Romney
/ Getty Images(CBS News) Mitt Romney on Tuesday ramped up his criticism of the Obama administration's proposal to require people earning over $1 million to pay a minimum 30-percent tax rate, calling it a "gimmick" that is a meaningless response to the nation's mounting debt.
"People recognize that these gimmicks are not going to get America strong again, they're not going to create jobs. They're going to have the opposite effect of creating jobs," Romney said of the so-called Buffett rule in an interview with CNBC's Larry Kudlow Tuesday evening, commenting on why he thinks the Senate blocked the bill from debate on a 51-45 vote, effectively killing the measure.
Candidate page: Mitt RomneyComplete coverage: Election 2012
"What we really need to do is to simplify our tax code, lower our rates, at the same time, eliminate or limit, rather, some deductions or exemptions, particularly for high income folks, and by virtue of doing that, you can keep the progressivity in the code. At the same time, you can make it more likely for small businesses to start," he said. Romney has previously opposed the Buffet proposal, arguing that it would raise only enough revenue to pay for 11 hours of government operations.
In the CNBC interview, Romney also backed off a suggestion he made at a private fundraiser over the weekend that he might eliminate the Department of Housing and Urban Development, an agency his father, George Romney, once ran.
"I'm not going to give you a specific department or agency today. I don't have one of those," he said. "But for purposes of discussion, a number of agencies can be made smaller or can be combined with others."
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The 1% system needs our labor, our money and our consent. Thus we have the power to shut it down of we want. We have the power to really change it for the benefit of the 99% instead of how it is now for the Top 1%. We need to unite in non-violent direct action. IT WORKS!
Now, I was talking to someone this morning about a business that leases properties to businesses. If a business makes MORE of a Profit - they charge them more on the lease! Imagine that! If they make more money they are expected to pay more into the entity that gives them the chance to make money!
and dance known variously as Supply Side Shenanigans, Voodoo Economics, the Trickle Down Debacle, the Fad and Crank Doctrine and from way back in the 1800's the Horse and Sparrow Theory - "If you feed a horse enough oats, then some will pass through to the sparrows."
The Wealthy will love it, but the Economy as a whole will only
give us a dead-cat bounce before resuming its zero-sum game.
But it proves a point. No matter how little isrequired as a shared sacrifice, the GOP will bend over backwards.....not to balance thebudget......but to protect the pocket books ofthe ultrarich.
AND the Buffett rule would be a move in the right direction and would not put any undue burden on ANYONE.
Vote for the born rich Mormon who wants to cut his own taxes at a time that most Americans are suffering.
Vote for a self-made rich Christian who is willing to sacrifice and raise his own taxes while most Americans are suffering.
Easy choice.
OBAMA 2012 : )
Oh what happened to the GOP? I want my money back. I can't see putting a buffalo chip like this in the White House.