Three Democratic candidates for Congress say they would support a plan to increase income tax fairness in the United States. Democrats Tammy Duckworth, Brad Schneider and Bill Foster, all candidates for the U.S. House of Representatives, say if they had a chance to vote for the so-called Buffett Rule, they would.
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“This will allow middle-class families to have the kind of fairness that they currently don’t have,” Duckworth said. “When people who make more than $1 million pay less a percentage of their income than hard-working, middle class families, something is wrong.” The tax plan, first proposed in 2011, was up for a vote Monday in the Senate. It would impose a 30 percent tax on people making at least $2 million annually and phase it in gradually for those earning at least $1 million.
Opponents say it’s bad for businesses, but Foster disagrees. “We have been promised for decades that if we simply provide unlimited tax breaks to the wealthiest in our country that it will magically trickle down to everyone in our society, and we’ve seen very dramatically over the last 10 years how false that premise is,” Foster said. He says the Buffett Rule is a common-sense start to making sure that economic distribution is broadly based.