Republicans Pass “Buffett Rule Act” Giving Rich Liberals The Option To Voluntary Pay More TAxes

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We hear from rich liberals all the time that they ought to be taxed more to reduce the budget deficit.  The math of it – that even if we confiscated all the wealth of all the millionaires and billionaires in America we still couldn’t pay off the deficit – doesn’t matter.  They want taxes raised because, they claim, they want to pay more in taxes.

Well House Republicans are happy to help them out.  Not by raising taxes, mind you, but by passing a law giving them the opportunity to voluntarily pay more in taxes right on their tax returns.

The House on Wednesday passed Republicans’ own version of the Buffett Rule, which allows wealthy Americans to voluntarily pony up to reduce the deficit.

The bill, labeled the Buffett Rule Act, passed by voice vote, meaning Democrats and Republicans agreed with it. Under the legislation, which would still need Senate approval, taxpayers could check a box on their taxes and send in a check for more than they owe to the IRS.

“If Warren Buffett and others like him truly feel they’re not paying enough in taxes, they can use the Buffett Rule Act to put their money where their mouth is and voluntarily send in more to pay down the national debt, rather than changing the entire tax code to inflict more job-killing tax hikes on hard-working Americans,” said Rep. Steve Scalise, the Louisiana Republican who wrote the bill.

President Obama and Democrats had proposed a Buffett Rule tax, based on billionaire investor Warren Buffett’s statement that he shouldn’t pay a lower rate on his income than his secretary.

Investments are taxed at a lower rate than salary or wage income under the theory that they are spurring economic growth, so wealthy investors usually pay less as a percentage, though they end up paying far more in real dollar terms.

Democrats said there should be a minimum tax for the wealthy, which would mean investors would pay more. They proposed a 30 percent tax on those with incomes higher than $1 million a year.

Some states like Massachusetts and Virginia already have voluntary check-offs on their tax returns in case some citizens want to contribute more to their government.  Unfortunately for the spendthrifts in government, not very many people opt to use it.

Which is telling isn’t it?  Those who scream the loudest for higher taxes really aren’t so much demanding higher taxes for themselves, but higher taxes for everyone else.

Rob Port is the editor of SayAnythingBlog.com. In 2011 he was a finalist for the Watch Dog of the Year from the Sam Adams Alliance and winner of the Americans For Prosperity Award for Online Excellence. In 2013 the Washington Post named SAB one of the nation's top state-based political blogs, and named Rob one of the state's best political reporters. He writes a weekly column for several North Dakota newspapers, and also serves as a policy fellow for the North Dakota Policy Council.

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  • Game

    Wow, shocking, a political stunt by house republicans.
    The House republicans have used their political offices for political “gotchas” more than anybody in history. What a joke.
    They even managed to do this without head stunter Paul Ryan. I am sure Ryan is proud.

    • http://sayanythingblog.com Rob

      Stunt?

      I thought you liberals wanted people to pay more taxes?

      • Game

        This was passed by the house, and everybody knows it will never get brought up in the Senate or signed by the President. Even if it was, it would have no effect.
        It is a stunt so that bloggers and right wing radicals can get a good laugh that was done by a branch of government.
        It is embarrassing that anybody in the House voted for this, even the Democrats.
        The House Republicans are the most unserious people ever elected to office. You should all be ashamed.

        • robert108

          So, the real “stunt” is in the Democrat Senate, then? Thanks for admitting that.

        • Bat One

          This was passed by the house [sic], and everybody knows it will never get brought up in the Senate or signed by the President.

          Game, Kinda like a federal budget, huh?

        • donwalk

          So what you are stating is that the Senate (controlled by Democrats) doesn’t have the guts to pass the bill that will raise billions from the wealthy left wingers? In addition, you are stating that President B.O.wouldn’t have the guts to sign the bill?
          Now why wouldn’t they support a bill that would allow “voluntary payment” vs “mandatory payment”?
          Are you pointing out their hypocrisy, or are you pointing out it is waste of time because they won’t jump at the chance?
          Even as you are missing out on the opportunity to write out your very own check at this moment – do you need a pen?

          • http://realitybasedbob.sayanythingblog.com/ realitybasedbob

            You don’t know much about how our Senate works, do ya Donny?

          • donwalk

            Nothing works in the Senate becaue they don’t allow bills to be brought up for voting from the House.. It wasn’t me that claimed the bill wouldn’t ever make it through the Senate and that President B.O. wouldn’t sign it. How much support are you giving this “vouluntary” bill, and how much extra have you voluntarily sent to the IRS?

            Subject: [ndsayanything] Re: Republicans Pass “ Buffett Rule Act” Giving Rich Liberals The Option To Voluntary Pay More TAxes

      • mickey_moussaoui

        …other peoples money

    • DakotaDave


      The bill, labeled the Buffett Rule Act, passed by voice vote, meaning Democrats and Republicans agreed with it.” How is that a republican political “gothcha”?

      • ellinas1

        Must you ask?
        Think my man, think.

        • Jay

          Um, because Republicans gave Buffett, Zuckerberg, Longoria, Soros, Moore, MacFarlane, Maher et al the chance to do exactly what those rich liberals have claimed to always want to do and the Dems went along with it? Is that why?

          • ellinas1

            No. The idea is for all to pay. Democrats and Republicans.
            But you already knew that.

      • Game

        Perhaps becuse the GOP controls the house. They write the bills, get them through commitee, and decide what is voted on.
        You should have went to goverment class Dave.

        • robert108

          And you should have gone to English class.

        • Bat One

          YOU should have “went” to English class!

          • mickey_moussaoui

            Game “went missing” from english class. Handiwipe, on the other hand, failed.

  • Jay

    I thought you liberals wanted the rich to pay higher taxes, Game? Shouldn’t you be cheering the fact that House Republicans manned up and gave them the chance to do it?

    • banjo kid

      I think the republicans just called their bluff . We have that in place already. The IRS has always excepted any one who wanted to pay more ,

  • Jay

    After all, the GOP is only ensuring the rich have no excuse for not paying “their fair share,” right?

  • mikemc1970

    Anytime one of these limousine liberals say publicly that they should paying more in taxes, it should be an automatic income, capital gains, and property tax increase to 75% for five years before they can opt out. Let’s see just how much they choose to produce when they’re paying their “fair share”.

    • Jay

      I remember last year when Obama proposed a tax on corporate jets and Buffett was up in arms about it. Bets on how quickly he exercises his right under this new law to actually pay a higher tax rate than his secretary?

  • WOOF

    Republican House members massage each other
    into happy endings .

    • http://nofreelunch.areavoices.com/ Kevin Flanagan

      How long have you been having such fantasies?

      • mickey_moussaoui

        all of his miserable life

    • $8194357

      No Barney did that and he was a Dem..

  • http://nofreelunch.areavoices.com/ Kevin Flanagan

    Buffet and his fellow travelers think they can guarantee their way to the promised land by advocating higher taxes on the productive.

  • ‘Tom Crawford

    Since when do you have to have anything “passed” to be able to voluntarily pay more in taxes?

  • Bat One

    As I recall, CBO figured Obama’s Buffett Rule tax hike would raise roughly $84 billion in revenue over ten years. And given the manner in which CBO is required by law to do their projections, even that $84 billion is probably optimistic. The JCT estimate was for even less – just $47 billion over 11 years.

  • davoa

    I didn’t know there were so many 9 year-old girls in the House of Representatives.

  • VocalYokel

    Thom Hartmann (a Leftard talk show huckster for those of you who are unfamiliar) has all but deified a group of millionaires who “have committed to give away half their personal wealth after their death.”
    While the timing of their largesse seems to be suspect, I would like to point out that while I am not sure how it works in Liberaldom, here in the real world you give up all your worldly possessions once you assume room temperature.

    BTW…is this voluntary gift to the IRS going to be tax deductible?

  • sbark

    I always wonder why any Dem’cat carries more than 100.00 bucks in his savings, checking or billfold……….if they so beleive in what they “preach”…….they should empty out their personal wealth at every opportunity, no matter if they are Warren Buffet or a 8 to 5 janitor……………
    Its their religion of wealth redistribution………..but it seems they are all apostate, but they are on a continuous jihad to force everyone into their religion
    …….no diff than Al Gore preaching global warming……but using more elec and jet fuel than 25 people combined.

    • $8194357

      Yup

  • mickey_moussaoui

    I’ll wager that the top liberal (Ob☭ma) will never offer more of his cash in payment to the deficit he created. He’s too busy shopping for his new retirement home in Hawaii.
    http://www.wnd.com/2012/09/secret-retirement-plans-does-obama-expect-to-lose/

    • $8194357

      10X mickey.
      I read that article as well…
      Looking to close in Jan.2013.

  • SigFan

    Boy, I can’t wait to see what a torrent of money all the rich liberals flood DC with. Why, I bet they’ll be able to fund Obama’s spending for ten minutes or so.

  • William Lepnkroder

    Perhaps paying for the fire department should voluntary. You simple minded dingers are hopeless greedy rats that see 47% of Americans as moochers.

    • mikemc1970

      Fire and police departments are paid for at the local level and no, we don’t see 47% of Americans as moochers, just whatever percentage of Americans makes up people like you.

    • Spartacus

      Perhaps the 47% that pay no income tax should not receive police and fire protection. Call into 911 should be answered with a request for your SSN which is ran through the IRS to confirm taxes have been paid, no taxes paid then no service, no exceptions or exemptions.

      • $8194357

        But what about the non-citizen citizens?
        How racist..
        (sarc)

  • broadway Joe

    I would like Warren’s company, Berkshire hathaway, just to pay their taxes and nothing extra. His company is still fighting over the last 10 years worth of tax bills.

    • http://sayanythingblog.com Rob

      Heh.

    • http://ndgoon.blogspot.com Goon

      I would like to see them pay their fair share as well…

    • Albert Lickenspittle

      700 billion in tax cuts for the rich, no problem. Has no effect on the deficit? Wow, dingers do you recognize welfare when you see it?

      • robert108

        $700 Billion is taken from Medicare Advantage; don’t you left wing morons recognize theft when you see it?

  • Harold

    I’m sure Joe Biden our esteemed vice president will be at the front of the line to pay more tax’s. I base this view on fact he’s such a major contributor to charities every year according to his income tax reports and the amount of money he earns and then donates to charities. Guys got this giant heart of gold.

  • Bat One

    Its still pretty common to hear of millionaires and billionaires donating large portions of their wealth to a variety of worthwhile causes – university endowments, churches, hospitals, all manner of charitable causes and foundations. The thing is, those are all the choices of the donors, the people who own the wealth in the first place. But you never hear about rich guys, Democrats or Republicans, leaving their wealth to the federal government.

  • http://ndgoon.blogspot.com Goon

    I predict that you won’t see a lot of extra money going in to the treasury from the Rich Liberals.

  • bambi benton

    A Monetarily Sovereign government neither needs nor uses revenue, to pay its bills. It pays all bills by creating dollars ad hoc, through the simple expedient of increasing the numbers in creditors’ checking account.

    A Monetarily Sovereign government’s finances are unlike personal finances, state finances, business finances or euro nation finances. The U.S. government has the unlimited power to increase the numbers in checking accounts.

    That is what “Monetarily Sovereign” means — it is sovereign over its money. It does not need to ask anyone for its sovereign currency — not you, not me, not China.

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