Sen. Marco Rubio (R-Fla.) said Thursday there isn't much point in raising tax rates on the wealthy, because they also have the money to hire people who will help them get out of paying taxes.
"The billionaires and millionaires that are going to be impacted by higher rates, they can afford to hire the best lawyers, lobbyists and accountants in America to figure out how not to pay those higher rates," Rubio told National Journal’s Major Garrett at The Atlantic Washington Ideas Forum. "The people that are going to get stuck by that bill are the small businesses, the partnerships, the S corporations, that cannot hire the lawyers to get them out of it."
President Barack Obama has called for an end to the Bush-era tax cuts for those in higher income brackets. Republicans, meanwhile, say an extension of those tax cuts must be a part of a deal to avoid hitting the so-called "fiscal cliff," when the government will reach its deficit limit and could begin defaulting on its debts. Tax cuts will expire at the end of the year unless Congress votes to extend them.
2 comments:
We're going off the cliff folks. Get prepared.
Hype. Hysteria. And behind the scenes (well documented, too, from PUBLIC government reports) a steady rush towards "preparedness" by the people who TELL us they will do everything in their power to avoid the "cliff". Treaties authorizing foreign armies to operate on U.S. soil. Purchases of weapons and ammunition that have no basis in reality for a CIVILIAN agency. The list is astounding for anyone who is the least bit inerested in looking. Bottom line? These snakes KNOW they can't keep shuffling the money - the fake money, that is - around forever. When the music stops (and it WILL), SOMEBODY ain't gonna find a chair. And by "somebody", I mean "we, the people".
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