Senate Minority Leader Mitch McConnell (R-Ky.) doesn't think the President's new "Buffett Rule" to create a higher tax rate for millionaires makes sense.
Speaking on Sunday's "Meet the Press," McConnell said, "With regard to his tax rate, if [Warren Buffett's] feeling guilty about it, I think he should send in a check" (video follows with transcript and commentary):
DAVID GREGORY, HOST: What’s unfair though about making richer Americans pay the same tax rates as middle income Americans?
SENATOR MITCH MCCONNELL (R-KENTUCKY): Well, look, you know, if Warren Buffett would like to give up some of his benefits, we’d be happy to talk about it. I mean, I think that means testing benefits is one of the ways that we’re going to have to solve at least the Social Security and Medicare problems long-term for the next generations. With regard to his tax rate, if he’s feeling guilty about it, I think he should send in a check.
Of course, it was revealed days later that Buffett's company Berkshire Hathaway might owe the IRS as much as $1 billion.
I highly doubt that as America's media gush and fawn over Obama's "Buffett Rule" they'll bring that up.