Monday, April 16, 2012


So you want to know how badly the Buffet Rule would impact the American economy?

Only around 210,000 taxpayers — a bit over 1 of every 1,000 — would face higher federal taxes if the measure were enacted, according to an estimate by one respected bipartisan research group.

In addition, while Republicans say the plan would be a job killer, only a small proportion of businesses would potentially be subject to the tax, according to data from a 2011 Treasury Department study. These firms make disproportionately large amounts of money, but many of them don't employ any workers.

Which if you think about it makes sense: 95% of jobs created in America are created by small businesses and 90% of those jobs are created by firms whose owners earn less than $50,000 from their companies.

30% does not seem like a whole lot to pay in order to enjoy the fruits of the freest country on the planet.