I read someone’s letter that said we should just forget the Buffett Rule, but why should we? To begin with, President George W. Bush decided to give the rich tax breaks as his idea of a stimulus bill. He felt if he gave the rich tax breaks, they would then turn around and create more jobs, helping to build a strong economy.
That failed miserably. Instead, jobs were lost by the millions, businesses and jobs were outsourced, giant corporations were bailed out not just once but twice; once by Bush and then by President Barack Obama.
So my question is: Why are the rich still getting their tax breaks? They have merely been pocketing the money they saved by not paying their fair share of taxes. Besides it doesn’t take rocket science to realize that these tax breaks have cost our country over $7 trillion contributing to the national debt.
Honestly, do the rich really need tax breaks? With all the loopholes they find, they don’t pay any taxes anyway. It’s time we the people stop looking away and fight back.