I have a better name for the “Buffett Rule,” the Obama proposal which says people making over $1 million per year should be taxed at a rate of at least 30 percent.
Let’s call it “The Romney Rule.”
Because, that’s who it’s targeted at.
President Obama’s demand that wealthy people pay more than 30 percent in taxes is framed by Obama not as a way to seriously cut the deficit or spur the economy – it will do neither – but as a way to make life more fair for less wealthy people who may being paying twice that rate.
Which is another way of saying that Mitt Romney, a rich guy who recently acknowledged paying taxes at a rate of about 15 percent, is not only wrong for the country, BUT HE’S A JERK TOO. Romney, Obama will contend, indirectly, is a no-good bum who avoids paying taxes like you and me.
The reason Romney pays a lower tax rate is that he doesn’t really have a salary, since his main job is running for president. He takes most of his income from capital gains, which is taxed at 15 percent.
But the Romney Rule, the most high profile of Obama’s proposals, is not a serious policy proposal. It’s an expression of Obama’s personal philosophy, which lends itself to class resentment. It’s path toward class warfare. And it’s a way to say ROMNEY IS A JERK.
It’s not serious because Obama is aware that the Republican House will never, ever pass it.
It’s so not serious that according to the Washington Post, Obama is not even going to include it in his budget. The White House budget will include all kinds of trivia, but it won’t even contain Obama’s biggest proposal of the year.
But, rest assured, while it won’t be part of the budget, the Buffett rule will appear in all of Obama’s campaign literature.