Having higher taxes on the ultra rich is not going to solve the deficit problem but no one act is going to solve it. We are going to need a lot of shared sacrifice in order to get our fiscal situation where it should be for a country like this.
Yet Buffett allows Obama to spin the truth by comparing Buffett’s secretary’s income tax to the rich who pay capital gains taxes on top of federal income. Maybe the 47% who pay ZERO federal income taxes and receive a tax rebate should help with this “shared sacrifices.”
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