Sheldon Whitehouse Quotes
Implementing the so-called 'Buffett Rule' would restore some badly needed fairness to our tax system.
Whitehouse, Sheldon. "Whitehouse Statement on the Buffett Rule." U.S. Senator Sheldon Whitehouse, 16 Apr. 2012.
Describing the concept of an income tax:
As a result of years of lobbying many vested interests were getting tax exemptions for their activities. Some of the richest corporations and people paid little or no taxes. This was like the old European monarchies where the dukes and nobles got tax exemptions from the king and the middle class and poor people paid a much larger percentage of their income and wealth than did the nobility. Fairness in taxation is very difficult in practice. See {633629}
Even on Medieval days in Europe, the wealthy barons paid lower tax rates that their lowest peasants. Relief from taxes was one of the privileges of the very rich. The practice has been made more cosmetic, but the result seems to have been the same into the 21st century.
The founder was Charles E. Coughlin, 1891-1979, a demagogic Catholic Priest who drafted the principles and invited others to join him. Hundreds of thousands did in this organization which began in idealism, and ended in scandal and hate mongering, so much so that Father Coughlin was ordered off the radio and out of politics by the Catholic Church. The National Union in 1936 had morphed into the Union Party which ran Presidential candidates in the 1936 election. At the time, a progressive income tax was an anathema to most people, however it became the norm in later years and although the idea did not originate with the Union, was one of the few lasting contributions of the Union.
This became known as the Buffet Principle—that the very rich should not pay a lower tax rate than the workers who make far less money than they do. President Barack Obama used this principle by name in calling for the 2011 Jobs Act which would eliminate some of the loopholes and exemptions by which the rich could avoid some or much or their tax obligation.
The nation rejected the flat tax that was favored by conservatives in the 1930s. However, in the Republican Presidential Primary Campaign of 2000, candidate Steve Forbes made the flat tax a centerpoint of his campaign. He lost badly, but the idea caught on amongst some conservative Republicans, and has had some support since.
At the time, he, th richest man in America was paying a lower ta rate than his secretary, his employees and the waiter who served him lunch. The “Buffet Rule” was developed and named for him that said that wealthy people should pay a minimum rate of taxation regardless of tax credits, deductions and other means of tax avoidance.
Sheldon Whitehouse is an American lawyer and politician serving as the junior United States Senator from Rhode Island since 2007. A member of the Democratic Party, he served as a United States Attorney from 1993 to 1998 and the 71st Attorney General of Rhode Island from 1999 to 2003.
