We have a lot of work to do in America: jobs to create, infrastructure to build, clean energy to generate, homeowners to save, teachers to hire and student debt to retire.
And we can’t pay for it so long as we keep the Bush-era policy of absurdly low taxes for the 1%. As Warren Buffett, one of America’s richest men, points out, it is simply ridiculous that the multi-millionaires are paying lower tax rates than their secretaries.
On Monday, the Senate will take a vote on common sense. They will vote on the Buffett Rule — establishing a minimum tax rate of 30% on any income over $2 million.
Right-wing zealots — who are opposed to raising taxes on anyone at anytime forever — want the Senate to filibuster it. The lobbyists of the 1% are packing the halls of Congress. We need to be heard, now.
We saw the need for the Buffett Rule when Mitt Romney revealed his taxes. Worth over $250 million, Romney paid a tax rate of 13.9% on income of millions. The police who protect him pay a higher rate than that.
This is a rich nation. We can afford the services we need without borrowing from the Chinese or other nations. But we can’t afford a tax code riddled with loopholes that allow the wealthiest Americans to dodge paying their fair share. The Buffett Rule is only a first step, but it at least puts a limit to the tax dodging.
Yet Senate conservatives are committed to filibustering this common sense step, and no doubt will be richly rewarded by mega-rich donors.
We cannot let the Senate continue to be hijacked by this sliver of the 1%. Senators will hear from their lobbyists. Let’s make certain that they hear from the 99% as well.
The Buffett Rule is only first step.
We will still need to end the Bush tax cuts for the wealthy. We will still need to restore an estate tax that prevents America from becoming an aristocracy. We will still need to close the corporate tax loopholes that create incentives to send jobs overseas.
But it is a critical step nevertheless. If we don’t fight hard now, Congress will remain under the thumb of the 1%.
This is a no-brainer. We need to invest in America in order to end to jobs crisis. The superwealthy have rigged the rules to pay a lower rate of taxes than middle class families.
It’s time to end that absurdity. Join us in making our voices heard.