If you live in Oregon you may have received a campaign letter from Oregon's U.S. Senator Jeff Merkley in which he puffed that he was a co-sponsor for the 'Buffett Rule'. Don't know if you have read it, but I am sorry to say almost nothing he said can be believed. I am not sure if the Senator is really as ignorant as the letter portrays. According to the letter, Warren Buffett wonders why he pays less taxes than his secretary; but we know that Mr. Buffett fights to pay as little as possible. By 'Buffett Rule' did Senator Merkley mean we can now all refuse to pay our taxes for ten years? Did he expect us to believe that if Warren Buffett had actually taken a salary instead of capital gains he wouldn't have to pay the same or higher tax rates as his poor abused secretary? Or if she was paid by means of investments and got paid by capital gains that she wouldn't pay the same capital gains tax rate as Buffett? His characterizations are dishonest. Even the CBO acknowledges taxing the dickens out of the 'millionaires, etc." will bring in a pittance. Saying, "every little bit helps" becomes a silly childish comeback.
Some of the Senator's statements are false and misleading. For example, he said, "When we make decisions about our budget, we also make a statement about our values as a nation... do we protect Social Security and Medicare, invest in our infrastructure, and give our children the skills they need in a 21st century economy?" What a load. His statements show his values - dishonesty. Senator Merkley, Harry Reid, Nancy Pilosi, and the president have done nothing to 'Protect Social Security and Medicare'. Senator Merkley, and the rest of the Democrats, refuse to acknowledge that SS is in financial trouble, e.g., there is no lock-box; there is no money in the system, it has all been borrowed to finance failed Democratic boondoggles. In fact, this week (week of 23-Apr) a report by the trustees indicates Social Security fund will totally defunct three years sooner than anyone thought. The Senator voted for Obamacare, which steals $500 billion from Medicare to finance, in part, the death panels. Obama has also proposed to take another similar amount for more profligate spending.
Another interesting tidbit: Obamacare destroys the 'Medicare Advantage' supplemental insurance program beginning in January 2013. However, since senior citizens must decide on how they will pay for supplemental insurance in October, Obama is illegally taking over $8 billion from the HHS budget to fool seniors into thinking there is no problem. Almost everyone under 65 years old probably doesn't give a rip about this - but they should. Rather looking out for senior citizens, the Democrats are attacking us. They can't get rid of us in one fell swoop, so are going to nibble us to death, with painful little cuts. And yet, Senator Merkley and Obama will expect us to be thankful. "Please, sir. Can I have some more?"
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Excerpts from the Senator's campaign letter follows:
"This week, the U.S. Senate had the opportunity to make sure millionaires and billionaires pay their fair share of taxes. Inspired by billionaire investor Warren Buffett – who rightly asked why he should pay a lower tax rate than his secretary – President Obama proposed the much-needed "Buffett Rule."
"This rule would ensure that millionaires and billionaires cannot use loopholes and special exceptions to pay a lower tax rate on their income than hardworking middle class families. It would do so by closing loopholes for those earning more than $1 million, scaling up to an effective minimum tax rate of 30% for households earning more than $2 million.
"As a cosponsor of this legislation, I was very glad that the Senate scheduled time to debate and vote on it this week. Unfortunately, a minority of senators filibustered the motion to begin debate on the legislation. I am deeply disappointed that the Senate could not even debate this common-sense bill.
"When we make decisions about our budget, we also make a statement about our values as a nation. Are we a nation that showers millionaires and billionaires with handouts they don't need? Or do we protect Social Security and Medicare, invest in our infrastructure, and give our children the skills they need in a 21st century economy?
"With so many in our society making sacrifices to get by, I do not believe our federal government should be using its limited resources to pad the wallets of the most affluent, which is exactly what our current tax system does. Please know that I will keep fighting for a fairer and more fiscally responsible tax system."
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