By FRANK LEWIS
PDT Staff Writer
Several elected officials in Scioto County added their names to a letter Friday that urges U.S. Sen. Rob Portman, R-Ohio, and Senate Minority Leader Mitch McConnell, R-Kentucky, to join Democrats in supporting President Barack Obama’s “Buffett Rule” when it comes to a vote Monday before the U.S. Senate.
According to a press release that announced the letter, if passed by the Senate, “the Buffett Rule would ensure that millionaires and billionaires like Warren Buffett never again pay a lower tax rate than their secretaries.”
The letter, signed by politicians in five southern Ohio counties, including Scioto County Commissioners Vernal “Skip” Riffe III and Tom Reiser, Scioto County Auditor David Green and Scioto County Treasurer William Ogg, explains “how communities in southeast Ohio would uniquely benefit from President Obama’s fight to create an economy where everyone has a fair shot, pays their fair share, and plays by the same rules.”
“Ending tax giveaways to individuals like Warren Buffet and Bill Gates, people who neither wanted nor asked for them, will allow the federal government to reinvest in our future and continue to grow our economy. A stable, growing economy naturally benefits our communities in Southeast Ohio, which will see revenues increase as families earn more, purchase more goods, and reinvest in their communities at large,” the release states. “Communities in southeast Ohio, like Scioto County, have been forced to fight harder than most against strapped local budgets, unemployment and foreclosure as the economy gets back on track. President Obama’s budget plan, the officials argue, would invest in communities that need it the most.”
The release closed with, “Furthermore, President Obama has paid special attention to the needs of communities like ours in his budget plan, helping states and localities hire and keep teachers and first responders. His budget plans will extend unemployment insurance and invest in roads and bridges. These are a far better use of resources than maintaining special tax breaks for our wealthiest citizens, a plan promoted by House Budget Chairman Paul Ryan (R-Wisconsin) and enthusiastically supported by presidential contender Mitt Romney.”
Frank Lewis may be reached at 740-353-3101, ext. 232, or at flewis@heartlandpublications.com.
Our problems are not who should pay more taxes. Our problems are that our elected politicians are spending too much. As every politician soon discovers after being elected, the best way to achieve a second term is to bring more federal dollars back to his district than they pay in. If you think about it logically, you understand that every district across the country cannot do that without the federal government going further in debt. The best thing politicians could do for us right now is make sure that his district receives less than they pay in. That’s called being responsible, it just doesn’t win as many elections as promising pork and wage increases for government workers.
Decades ago, the USA was the only place desirable to manufacture products. Over the years many other countries have decided to compete with us by offering very low corporate tax rates. Ours is the highest in the world at 39%. They offer streamlined, simple to understand regulation designed to attract business. Our regulation usually takes teams of lawyers to decipher. Many even offer subsidized wages during startup. We require union scale with full benefits. While we all want these things, holding the requirement on each one to the highest level has left us jobless and bankrupt. If we are to ever lure business and manufacturing back to our country, a good start would be by lowering taxes on corporations and streamlining our regulation. This buffet rule only effects investment income which has actually already been taxed. (Something many politicians don’t want you to know) many of our seniors live on their investment incomes such as 401K plans. The Buffet rule would raise their taxes and significantly impact their standard of living. Anytime you hear someone talking about taxes, never let them frame the argument into one of who should pay more. The argument should always be about stopping our politicians from spending too much. I urge you to contact your legislators also but ask them instead to be responsible with your tax dollars. Tell them you are sick of your hard earned dollars going to foreign governments to pay interest on our debt. Tell them to be responsible or you’ll vote them out!