As reported in today’s Portland Press Herald:
Maine’s two Republican Senators, Snowe and Collins, both favor extending the tax cuts to all Americans — even the wealthiest top 2% — instead of letting the tax cuts expire at the end of the year.
Maine two Democratic Representatives, Michaud and Pingree, disagree. They don’t believe that the tax cuts should extend to those earning over $250,000.
Big surprise.
What does one of the wealthiest men on the planet think about extending the tax cuts? Billionaire Warren Buffet said that the wealthy should be paying more taxes and that giving the rich a tax break doesn’t result in having the savings trickle down to the middle or lower income individuals.
Said Buffet: “I think that people at the high end — people like myself — should be paying a lot more in taxes. We have it better than we’ve ever had it.”
On the one hand, Republicans complain about Democratic fiscal irresponsibility and the soaring deficit. On the other hand, they fight for a tax cut for the wealthiest people in the country despite the fact that these tax breaks will add to the deficit and — according to Buffet — the rich just don’t need them.
Hypocritical?
Nope. Just politics as usual.
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