Sen. Chuck Schumer was on “CBS This Morning” today to boost support for “The Buffett Rule”–the Democratic plan to balance the federal budget by levying heavier taxes on the wealthy.
And he was shown a clip of an earlier guest on the morning show–Mayor Mike Bloomberg, who has repeatedly said that merely tax the rich (of which he is of course one) is insufficient, and that instead Congress and President Obama should impose higher taxes on all Americans.
“I love Mike,” Mr. Schumer responded, before tweaking Hizzoner over the trace of a Boston accent that he still retains. “It’s true the high end people are not the whole answer to the problem, but they are gaining a greater percentage of income. For instance, the top one percent in income made 23 percent of the income last year. So you do get some money but it is also a question of fairness.” Read More