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Massachusetts Liberal

Observations on politics, the media and life in Massachusetts and beyond from the left side of the road.

Sunday, September 18, 2011

Buffeting the tide

Who's going to be the first Republican to rail against Barack Obama's proposed new tax on those earning seven figures a year?

Better yet, who going to be the first to ask the "job creators" why this is a hardship on them.

The Buffett Rule may have more mileage as a political ploy than as a revenue-raising tool. It is clearly going to challenge the GOP to get creative in maintaining their Grover Pledge. In the end, the House GOP will surely slam the gavel down on the idea put forward recently by Warren Buffett.

But I am still waiting for the political press corps to get serious in examining the GOP claim that taxes are a hardship on the job's vaunted job creators.

Entrepreneurs have received and deserve continued help in producing jobs. But the major corporations that are sitting on reserves -- often created by overseas subsidiaries where they do create jobs -- need to be made accountable.

I have no problem with job-creating incentives. I do have a problem with incentives that don't get the desired results. Or with the lack of accountability by the politicians who grant them or the companies and individuals who receive them.

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1 Comments:

Blogger Cynthia E. Stead said...

"The administration wants such a tax to replace the alternative minimum tax, which was created decades ago to make sure the richest taxpayers with plentiful deductions and credits did not avoid income taxes, but which now hits millions of Americans who are considered upper middle class."

So Obama wants a new tax to replace the tax that failed because the geniunely rich were able to avoid it and it hurt the middle class - just like this replacement will.

Why else is he naming a change in income tax rates after a man who pays no income taxes, but could if he chose to accept compensation that way?

September 18, 2011 2:09 PM  

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