Krauthammer: The Buffett Rule

[www.washingtonpost.com]

An excerpt from his Washington Post column:

"And that basic principle of fairness, if applied to our tax code, could raise enough money” to “stabilize our debt and deficits for the next decade. . . . This is not politics; this is math.” BHO 9/11 (boulderhawk added)

Okay. Let’s do the math. The Joint Committee on Taxation estimates this new tax would yield between $4 billion and $5 billion a year. If we collect the Buffett tax for the next 250 years — a span longer than the life of this republic — it would not cover the Obama deficit for 2011 alone.

__________________________

Mr. Gorbachev, tear down this wall.--Ronald Reagan, June 12, 1987