It's about money. Who has it? Who wants it? Who gets it?Nothing ignites fiery emotion more than the concept of fairness. Currently, the notion of what is or is not fair is associated with the fair share notion of the Buffet tax rule. Commentators and tax experts are having a marvelous time opining on the tax code, fairness, earned income concepts, progressive taxation, share of wealth and share of income. Fair is not an easy concept to define. It is truly in the mind of the beholder.
The tax commentators are all setting the stage for next weeks dramatic vote. Early next week the Paying a Fair Share Act of 2012 (S. 2230) will be put to a vote. The bill, sponsored by Sen. Sheldon Whitehouse (D-RI), codifies the “Buffett Rule,” the principle that no millionaire should pay a smaller percentage of income in taxes than middle-class families. I predict the bill will pass. And Obama will score another pubic coup over the republicans. This new victory will also go a long way to finish painting the republicans as friends of the rich and not of the middle class, a picture the repubs can near afford to have completed.
The fair share is a little thing. Is it not? After all, it only effects a few of us.
I spent part of the day yesterday discussing, with several seasoned international executive friends of mine, how great institutions and great organizations are seldom destroyed catastrophically. Their destruction occurs a little bit at a time- a weathering away, if you will, almost without notice. I call it the Grand Canyon effect. A fair share here. A fair share there and pretty soon what's fair is not so fair any more.
I have a neighbor who has a new 500 SL Mercedes, a new Hummer and a red Ferrari. I drive a jeep. It's only fair that he give me his Ferrari.
Whose fair share is next?
Robert J. Sherwood
In a more recent blog you said: "On the Buffet rule, I thought the Pubs were smart and would just pass it. "
ReplyDeleteHere you said, "I predict the bill will pass. And Obama will score another pubic coup over the republicans. This new victory will also go a long way to finish painting the republicans as friends of the rich and not of the middle class, a picture the repubs can near afford to have completed."
Not only did you incorrectly predict the bills fate, but you said if the bill passed the republicans would be in a worse position in terms of public opinion. However, you've recently said the Republicans passing it was the smart thing.
Which is it? You can't come down on both sides of this argument depending on the day.