Democratic senator Sheldon Whitehouse admitted on the Senate floor that the aim of the so-called Buffett Rule "is not to lower the unemployment rate or the price of gasoline":
"The Senate Republican Leader has described the bill as yet another proposal from the White House that won't create a single job or lower the price at the pump by a penny," Whitehouse said. "Well, the Minority Leader is absolutely right that the aim of this bill is not to lower the unemployment rate or the price of gasoline."
Of course, what is the aim of the Buffett Rule, then?
As Abe Greenwald notes, it's all about government-dictated "fairness" and "equality."
Fairness and equality are 2012’s version of 2008’s hope and change. Barack Obama is monopolizing those brands while shirking the business of responsible governance and national purpose. Last week, millions of Americans received an unsolicited email from the White House urging individuals to “Just enter a few pieces of information about your taxes, and see how many millionaires pay a lower effective tax rate than you.” This was no ordinary piece of election year propaganda, but rather a draft notice urging citizens to report to duty and fight the class war declared by the president himself. With titanic debt and deficit values assuming the ignorable status of imaginary numbers, he is refocusing our anxieties on the tangible fortunes of our neighbors.
Whole thing here.