We Can’t Afford $363 Million to Help the Poor; But We CAN Afford Losing $47 BILLION in Possible Revenue from Millionaires

My favorite thing about the debate over the Buffett Rule? The same guys insisting that $47 billion isn’t worth taxing millionaires over are the same guys counting pennies when it comes to mammograms and birth control.

Thank you, Jon Stewart: “$47 billion in millionaires’ money is less than $300 million in mammograms and birth control.”

One I thing I noticed, though, is that the $47 billion is over 10 years, and the $363 million is each year. Over 10 years, that’s $3.63 billion — still a lot less than losing some of the revenue from the Buffett Rule.

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While there is definitely waste that needs to be cut from the budget, I don’t think penalizing the poorest among us is the answer. Besides, we’re beyond the point that cuts alone are going to fix the budget. We need to raise revenues as well. And, let’s be honest, the wealthiest can afford it.

h/t: The Atlantic Wire

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