NEWSMAX: South Carolina Republican Sen. Lindsey Graham denounced President Barack Obama’s proposal to impose a new levy, which some are calling a “Buffett Tax,” on those earning more than $1 million a year as a “political act” that is nothing short of “class warfare.”
Graham said on CNN’s “State of the Union” today that he supports parts of Obama’s jobs bill, including a plan to cut the payroll tax and some of the proposed infrastructure spending.
But he assailed the president’s plan to propose a new levy on U.S. taxpayers who make more than $1 million as a means to help trim the nation’s debt, adopting a suggestion from billionaire investor Warren Buffett… (more)
EDITOR: Considering that we have the lowest tax rates on millionaires in three-quarters of a century and the various tax loop holes created for their benefits, we consider the proposal as class self defense, not “class warfare”!
