Strange as it may seem, Senate Democrats and House
Republicans are pursuing identical strategies respecting tax reform legislation
this session: put forth legislation that has absolutely no change of passing
both houses, then blame the opposing party for gridlock over declining federal
revenues. In the face of desperate needs
for increased revenue to keep the federal government afloat, and to reduce ever
burgeoning federal deficits, leaders of each political party have purposely
devised legislation that they know is doomed to failure, so they can
manufacture election campaign talking points against the opposition.
Yesterday, Senate Democrats introduced legislation
embodying the so called “Buffett Rule,” which would impose a minimum 30% tax
rate for Americans earning more than $1 million per year, but cloture failed on
a party line vote of 51- 45, and the bill fell into filibuster oblivion.
Thursday, the House is scheduled to vote on a Republican measure cutting
business taxes by 20% for all firms with 500 or fewer employees. Neither bill
will ever pass this gridlocked Congress, and no one in leadership in either
party expects the measure initiated by their side of the aisle to reach President
Obama’s desk.
Rather, Democrats want to be able to say that
Republicans blocked a measure taxing the wealthiest Americans at effective
rates as high as those paid by the middle class, while Republicans want to
blame Democrats for blocking a bill they say would increase revenue by encouraging
job creation. Meanwhile, economists who have looked into both proposed laws say
neither one would make any substantial dent in federal deficits, now or later.
Shame on both sides for putting the reelection of
their own members ahead of any effort to solve our country’s problems.
