On Senate Floor, Toomey Blasts Buffett Rule

Pat Toomey took the Senate floor Monday to oppose President Obama’s “Buffett Rule,” calling the proposal a “gimmick” and a “political stunt” that would eventually result in a higher tax rate among the middle class.

Toomey relented that such a proposal is doing nothing but wasting precious time in Congress, stating “this is not a serious effort to deal with a ridiculously broken tax code…[or] a completely broken budget.”

“Instead,” he continued, “we’re going to waste time arguing.”

Meanwhile, the Morning Call reports, Toomey is preparing to unveil his proposal for a Senate budget.

Today at Toomey’s Pittsburgh office, protesters marched in support of the measure, which they say is essential for tax fairness. The participants staged a “Dodge ball game of working people vs. tax dodgers,” right beforehand.

“Workers, students, voters and community members will protest tax dodgers and the tax loopholes that help the 1% at the expense of the rest,” organizers said in a press release.

The fight has emerged as an important subplot of the 2012 election, hence the President’s emphasis on a proposal that has little chance of passing through Congress.

Toomey argued Buffett tax would generate less than $5 billion per year, thereby doing “nothing meaningful for our budget deficits.”

He he accused the proposed policy as an effort to instigate “class warfare” which would “distract from the underlying mismanagement of economic policy and fiscal policy that we have seen from this administration.”

“This is bad economic policy,” he concluded.

April 17th, 2012 | Posted in Front Page Stories, Senate, Top Stories | 4 Comments

4 thoughts on “On Senate Floor, Toomey Blasts Buffett Rule”

  1. John says:

    Calling for higher taxes may bring applause at partisan political events, but it won’t lower the deficit.

  2. 3.200 Trillion + Spending per year
    0.004 Billion Buffet Rule “savings” per year
    Now
    3.196 Trillion Spending per year
    Problem solved.
    Boy I feel better, we got those rich fat cats. On with life I guess.

    Gimmick more like a cheap political stunt.

  3. Funny, Sen. Toomey didn’t think an attempt to put a dent into the deficit was such a bad idea when he was a Congressman. He Co-Sponsored legislation that would have let everyone voluntarily pay $3 extra on the tax return to help pay off the debt. Sen. Toomey has made it clear that he would rather we all pay a higher percentage of our income towards the debt, but not his millionaire friends. Talk about playing politics with an issue.

    http://www.ontheissues.org/Notebook/Note_00-HR5349.htm

  4. Tim says:

    This is the typical Republican defense. It won’t make sense in 10 years or if you become a millionaire! Republicans love to say that they don’t want to ruin America for their grandchildren, but they aren’t willing to pay a little more in taxes so that doesn’t happen.

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