Oh the horrors, we are now in a tax code emergency, according to Crybaby Harry Reid. Umm, ok, Crybaby Harry.
From the Las Vegas Sun: Democrats have been trying for months to embrace the spirit of the Buffett rule, which they define as getting millionaires and billionaires to “pay their fair share.” They tried to work it into the debt ceiling and deficit reduction agreement this summer. They tried to weave it in as surtaxes to off-set the cost of pieces of the president’s jobs bill.
It hasn’t yet worked — so why would it now?
When asked Wednesday morning, Reid gave one reason: Mitt Romney.
“All you have to do is look at the former governor of Massachusetts’ tax return — and that’s why this has become an emergency,” Reid said. “Too many families in Nevada and across the country wake up every morning wondering why the opportunities for them and their children are so scarce. Then they look at the top 1 percent and find that they have a tax rate lower than what they pay.
“The system seems to be rigged in their favor ... it’s only fair to ask why people making millions shouldn’t pay their fair share.”
http://www.lasvegassun.com/news/2012/jan/25/harry-reid-citing-romney-example-says-fixing-tax-c/
Let's see, when the Democrats completely controlled the Senate (including a veto proof margin with a couple of RINOs supporting them), House and White House, did they try and change the tax code? Nope.
And I am pretty sure, when most Nevadan's wake up in the morning, they don't think of the tax rates of the rich and the tax rates of the poor. And if they do, they are in need of some serious psychological help.
And the rich do not have a lower tax rate than you or I. When they go out and earn the money in a job that they work at, then the rich pay more, percentage wise. About 47% of adults in the U.S. don't have to pay income taxes.
But the rich and those of the who invest in the stock market, which is a good share of people in the U.S., they may have to pay a capital gains tax, which is different than a income tax. Capital gains taxes are lower than the income tax rate. And the Democrats do not want to change the capital income tax rate because so many of them invest in the stock market and when they make money in the stock market, they have to pay capital gains tax. Many members of Congress, both Democrats and GOP, have made millions using insider trading, legal or otherwise, and they don't want to pay more in capital gains taxes, so they won't raise the capital gains tax rate.
Anyways, once again, Crybaby Harry Reid is showing that he is not of clear mind but instead, his brain is made out of oatmeal mush.
If the tax rate was such an emergency, why didn't Crybaby Reid call for an increased tax rate 2 years ago? Or, maybe, just maybe, Crybaby Reid is playing the class warfare game with his buddy, President Obama.
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