|NEWS FROM WASHINGTON|
This Week From Washington: The ‘Buffett Rule’ Hoax
While Americans raced to file their taxes on Tuesday, House Republicans were working to reduce them. The GOP-led Small Business Tax Cut Act of 2012 is a job-boosting bill that would slash taxes by 20 percent for small businesses with fewer than 500 employees. Cash-strapped businesses are currently saddled with federal tax rates as high as 35 percent. This legislation would help 22 million small business owners create and retain much-needed jobs and expand their businesses.
Contrast that to President Obama’s ‘Buffett Rule,’ which couldn’t even garner enough support to pass in the Democratically-controlled Senate. This political gimmick would raise 46 Billion over a decade—a drop in the bucket amounting to only one percent of our national debt.
Earlier this week, I joined my fellow Georgia colleagues, Senators Saxby Chambliss and Johnny Isakson, as well as my fellow co-sponsors of H.R. 25, The Fair Tax, in a news conference to highlight one of the boldest tax reform bills in Congress. Unlike our current tax code—which punishes hard work instead of rewarding success—the Fair tax would ensure that all citizens are treated equally. When only 85 out of 311 million Americans pay taxes, it’s time to make a change. By replacing our complex and punitive tax code with a national sales tax, we can ensure that every person living in the United States pays their fair share.
Tax Reform-Tell me what you think!
During last night’s ‘tele-town hall,’ I asked residents from Cobb and Bartow Counties what tax reforms they support. 65 percent voted to eliminate the IRS and implement the Fair Tax. Tell me what you think and ask your friends and family to share with me too.
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