Posts Tagged ‘federal deficit’

I didn’t get around to answering Politico’s question “Will ‘Buffett tax’ fly?” In time for them to publish it. But after a day of hearing the President argue his case, I’m sharing my thoughts with you. Let me know what you think.

Arena Asks: President Barack Obama will release a plan today to cut the federal deficit by $3 trillion over the next decade, drawing half the savings from new tax revenue and sparing Medicare recipients from having to wait longer to collect benefits. Invoking calls by investor Warren Buffett, Obama’s plan would also would prohibit millionaires from paying a lower tax rate than middle-class Americans. Will this populist-sounding proposal win broad backing? Or is it repackaged class warfare that won’t play well in an aspirational society?

My Answer: If Obama had launched this bold Buffet Rule initiative in January 2009, it would have been a slam dunk…

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