Tomorrow, President Obama will unveil a deficit-cutting proposal that will include a revision to the U.S. tax code. The proposed change will feature a higher tax rate for the wealthiest 0.3% of Americans, who currently pay the IRS with a $15 gift card to Sam Goody every April (estimated figure). Good idea, right? “Wrong,” say Republican leaders, who spent their Sunday calling the plan “class warfare” to television cameras.
The New York Times, who was the first to report the proposed tax revision, says Republicans think it’s “intended to portray Congressional Republicans who resist it as being callously indifferent to the hardships facing many Americans.” In related news, Congressional Republicans who resist it are callously indifferent to the hardships facing many Americans.
Paul Ryan told the television cameras in the Fox News Sunday studio, “It adds further instability to our system, more uncertainty, and it punishes job creation. Class warfare may make for really good politics, but it makes for rotten economics.” You heard Paul Ryan: If rich people have to pay a tax rate that is comparable to the one normal people have been paying for years, they will fire everyone in their employ and form an ultra-wealthy super army that won’t stop roaming the streets in their armored Range Rovers until they have satisfied their hunger for poor people’s blood.
Reports say Obama will call the proposal “The Buffett Rule” because of Warren Buffett’s Times Op-Ed where he complained about the disparity represented in the tax code between the upper and middle classes. Mitch McConnell joked to the television cameras at Meet the Press, “If Warren Buffett would like to give up some of his benefits, we’d be happy to talk about it.” The joke didn’t land, however, as Warren Buffett does want to give up some of his benefits, as articulated in the aforementioned New York Times Op-Ed.
No specifics of the proposal have been released yet, but Republicans are unified in their opposition because Obama is the one who will be proposing it. So far they have been unconvincing in their argument, but they have plenty of time to paint this common sense plan as job-destroying socialist dogma before eventually killing it in Congress anyway.
Now, that’s politics.