Debate Club

'Buffett Rule' Strengthens America's Backbone

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As we say in the Midwest, you do not fertilize a tree from the top down, you fertilize the roots. The "Buffet rule" reflects that kind of midwestern wisdom and decency.

[See pictures of Americans searching for work.]

It defies common sense that many middle-class Iowans should pay a higher tax rate than the 400 richest Americans, making over $110 million per year and paying only 18 percent in income taxes. Not only does this fly in the face of the common sense standards of a democratic society, but it also undermines the middle class, the backbone of the American economy, by helping to concentrate wealth among a very few rich Americans, and by denying our country the resources to make the investments that have sustained the middle class—everything from education to infrastructure—that has made America the strongest economy in the world.

The Buffet rule tackles this problem head on and levels the playing the field for America's middle class. It is part of legislation I recently introduced—the Rebuild America Act—and it should become law.

Tom Harkin

About Tom Harkin U.S. Senator

Tags
Buffett, Warren
deficit and national debt
federal taxes

Other Arguments

#1
207 Pts
Reducing Spending, Not Taxing Millionaires, Is a Real Solution

No – Reducing Spending, Not Taxing Millionaires, Is a Real Solution

Jason Fichtner Senior Research Fellow at the Mercatus Center at George Mason University

#2
-3 Pts
The 'Buffett Rule' Moves Us in the Right Direction

Yes – The 'Buffett Rule' Moves Us in the Right Direction

Chuck Collins Senior Scholar at the Institute for Policy Studies

#3
-6 Pts
'Buffett Rule' Not a Serious Response to Budgetary Problems

No – 'Buffett Rule' Not a Serious Response to Budgetary Problems

Alan D. Viard Resident Scholar at the American Enterprise Institute

#4
-14 Pts
The 'Buffett Rule' Is Bogus

No – The 'Buffett Rule' Is Bogus

Andrew Moylan Vice President of Government Affairs for the National Taxpayers Union

#5
-23 Pts
'Buffet Rule' is a Good Start

Yes – 'Buffet Rule' is a Good Start

Isabel Sawhill Senior Fellow at the Brookings Institution

#6
-25 Pts
Tax Dollars and (Common) Sense

Yes – Tax Dollars and (Common) Sense

Tammy Baldwin U.S. Representative

#7
-28 Pts
The 'Buffet Rule' Is a Hypocritical Political Ploy

No – The 'Buffet Rule' Is a Hypocritical Political Ploy

Jonathan Collegio Communications Director for American Crossroads

#8
-35 Pts
We Need a Tax Code That Better Fits the Values of the Country

Yes – We Need a Tax Code That Better Fits the Values of the Country

Chuck Marr Director of Federal Tax Policy at the Center on Budget and Policy Priorities

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