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So apparently, the phrase of the week from Republicans is "Class Warfare!" as a response to President Obama's proposal for a new Millionaire's Minimum Tax. Paul Ryan and Lindsey Graham both used the phrase yesterday on the Bobble head shows. The proposed tax has also become known as the "Buffett Tax" in honor of billionaire investor Warren Buffett who has long noted the irony of his paying a lower tax rate for his investments (aka Unearned Income) than the rate paid by his secretary (Earned Income). Of course, the folks at Forbes Magazine and the Murdoch NY Post think it is a bad idea to do such a thing.
The reality is, and Buffett noted years ago, we are in a class war:
“There’s class warfare, all right,” Mr. Buffett said, “but it’s my class, the rich class, that’s making war, and we’re winning.”
