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Tue Apr 10, 2012, 12:23 PM

The Buffett Rule - The Prequel




Keep throwing Reagan's words about " crazy tax loopholes " for millionaires at Republicans each and everyday since Republicans LOVE to wrap themselves around Reagan and quote his words.


ThinkProgress:


" Last fall, when President Obama debuted the Buffett Rule — the simple idea that millionaires and billionaires should pay at least the same tax rate as middle class workers — we climbed into the wayback machine and found a video of President Ronald Reagan decrying “crazy” tax loopholes that allowed a millionaire to pay a lower tax rate than a bus driver.


With the Senate set to vote one week from today on a Buffett Rule bill that would make sure millionaires and billionaires pay a minimum tax rate of 30 percent, we now present another video of former President Reagan supporting the principle behind the Buffett Rule. In today’s video, President Reagan describes a letter he received from an executive who wanted to come to Washington and tell Congress why it’s “wrong” that he was able to “take advantage of the present tax code” to pay a lower tax rate than his secretary.



http://thinkprogress.org/economy/2012/04/09/460853/new-video-president-reagan-backs-the-buffett-rule/

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