Alexander: “Instead of Playing Politics, the President Should Join Me in Endorsing His Own Debt Comm “Instead of playing politics, the President should join me and three dozen other senators of both parties in endorsing his own Simpson-Bowles Debt Commission report. Says new “Buffett Rule”......
BigNews.Biz - Apr 10,2012 - Alexander: “Instead of Playing Politics, the President Should Join Me in Endorsing His Own Debt Commission Report”
Says new “Buffett Rule” revenues would equal less than 1% of new debt under Obama Budgets
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NASHVILLE – U.S. Senator Lamar Alexander (R-Tenn.) released the following statement concerning a report in Friday’s Wall Street Journal that the White House and Senate Democrats will “target” Tennessee’s senators, among others, over the upcoming vote in the Senate on the so-called “Buffett Rule”:
“Instead of playing politics, the President should join me and three dozen other senators of both parties in endorsing his own Simpson-Bowles Debt Commission report. Both Simpson-Bowles and the Ryan budget, which I also support, would restructure entitlement spending—the main source of our dangerous federal debt—and reform the tax code by closing special-interest loopholes.
“This is a disappointing and cynical smokescreen. Since the top 1 percent of taxpayers already pay 37 percent of federal individual income taxes, the ‘Buffett Rule’ would generate revenues of less than 1 percent of the new debt projected under the President’s 10 year budget.” (Based on estimates provided by the Congressional Budget Office and Joint Congressional Committee on Taxation.)
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