‘Class Warfare’: GOP Slams Proposed Obama Millionaire Tax Rate
Top Republicans came out forcefully against President Barack Obama’s proposed “Buffett Rule” millionaire tax rate Sunday, calling it “class warfare” and welcoming billionaire Warren Buffett to “send in a check” if he’s feeling guilty about his tax rate.
Rep. Paul Ryan (R-Wis.), the chair of the House Budget Committee and author of the GOP budget, said Obama’s plan would add “further instability to our system more uncertainty and it punishes job creation and those people who create jobs.”
“Class warfare may make for really good politics but it makes for rotten economics,” Ryan said on “Fox News Sunday.”
Ryan said Obama’s proposal, which would tax those who make more than $1 million at the same rate as middle-income earners, will undermine economic growth.
“If you tax something more, you get less of it,” Ryan said. ”If you tax job creators more, you get less job creation. If you tax their investment more, you get less investment.”
Senate Minority Leader Mitch McConnell (R-Ky.) was similarly dismissive of the idea on NBC’s “Meet the Press,” expressing concerns that it would stifle the economy.
“[Raising the tax rate] is a bad thing to do in the middle of an economic downturn, and of course the economy some would argue is even worse now than it was when the president signed an extension of the current tax rates back in December,” McConnell said.
He noted that a similar effort to raise taxes on the wealthy failed a few years ago when Democrats were in control of both houses of Congress.
“With regard to his tax rate, if he’s feeling guilty about it I think he should send in a check,” McConnell said of Buffett. “But we don’t want to stagnate this economy by raising taxes.”
- Shock Video Surfaces: Meat Cleaver-Wielding Man Shouts ‘You People Will Never Be Safe!’ Moments After Gruesome London Attack 527 Comments
- Why Were DHS Agents Seemingly Monitoring Multiple Tea Party IRS Protests Across the Country on Tuesday? 466 Comments
- Confusion Erupts in IRS Hearing After Lois Lerner Tries to Plead the 5th — Watch It All Unfold 453 Comments
- The Tense Exchange Between Rep. Trey Gowdy and the Former IRS Head You’ve Been Waiting for…and It Doesn’t Disappoint 338 Comments
- CNN’s Wolf Blitzer Has Awkward Moment With Okla. Tornado Survivor After Asking If She ‘Thanked the Lord’ 324 Comments
- ‘Islamic Jihad, Islamic Jihad!: Michelle Malkin Rips Progressives, Clashes With Lib Radio Host Over Islamic Terrorism and the London Machete Attack Read More
- Ariz. Lawmaker Surprises Colleagues, Comes Out as an Atheist While Delivering Daily Prayer Read More
- This Is How Texas Politicians Are Fighting Against the Atheist-Led ‘War on Christmas’ Read More
- ‘Unbelievable’: Apparent Thief Leaves $140 & Apology Note on Family’s Doorstep — Find Out Why Read More
- Anti-Gay Bias or Fair Punishment? New Details Emerge About High School Student’s Lesbian Relationship With a Minor 273 Comments
- Weekly Unemployment Benefits Tumble Read More
- Why Is This German Company Recruiting Tech Staff With Autism? Read More
- House Votes to Speed up Keystone Pipeline: Here’s Everyone Who Voted for and Against It Read More
- Here are the 7 Most Explosive & Informative Moments from Today’s IRS Hearing Read More
- Foreign Banks Operating on U.S. Soil Have Just Set a Record Read More
- The Incredible Role Facebook Played in the Aftermath of Devastating Okla. Tornado Read More
- Tech Company Demonstrates Remote Disabling of a ‘Smart Gun’ 116 Comments
- Meet the Blind Man Nicknamed ‘Midnight Gunslinger’ Who Has 80% Shot Accuracy Read More
- How a $4.5 Million Network of 181 Sirens Helped Save Lives in Oklahoma Twister Read More
- See the Record-Setting Python a Man Caught With His Bare Hands (and Guess How Much It Weighed) Read More
- 5 dead in Lebanon clash of Assad foes, backers
- AP Interview: Rogge praises wrestling's changes
- Restaurant torched in 4th night of Sweden riots
- Man shot by FBI had ties to Boston bombing suspect
- Ralph Lauren's 4Q profit rises 35 pct
- Father of man shot in Boston probe shares regrets
- Russian court denies Pussy Riot's Alekhina parole
- Britain: Soldier slaying suspects had been probed