Senate Majority Leader Harry Reid has filed a cloture motion on a bill titled “Sense of the Senate on Shared Sacrifice.” The bill states: “It is the sense of the Senate that any agreement to reduce the budget deficit should require that those earning $1,000,000 or more per year make a more meaningful contribution to the deficit reduction effort.” You’ve repeatedly called for the “rich” — defined as those earning $250,000 or more — to pay their “fair share” in taxes, indicating that you readily support the proposed Sense of the Senate.
The top 1 percent of income earners pay approximately 38 percent of all federal income taxes. The top 10 percent of income earners pay approximately 70 percent of all federal income taxes. Why aren’t those amounts “meaningful” enough?
Approximately 47 percent of American households pay no federal income taxes whatsoever. How do you reconcile that fact with the bill’s premise of “shared sacrifice?”
Under your administration, spending has increased approximately 84 percent and the deficit has quadrupled. Given that you and members of Congress were responsible for the explosion of the deficit, shouldn’t you be the ones required to make ”a more meaningful contribution to the deficit reduction effort”?