Walsh, Dold, Biggert Make Seniors, College Students Pay for Millionaire Tax Breaks
Three candidates back Buffett Rule to make millionaires pay as much as middle-class
CHICAGO, IL—As Illinois middle class families file their taxes this week, three Chicago-area candidates today criticized incumbent members of Congress Joe Walsh, Robert Dold and Judy Biggert for voting to end Medicare as we know it, and forcing10 million families to pay more for college, just to continue giving those making more than $1 million lavish tax breaks.
Tammy Duckworth, Brad Schneider and Bill Foster today announced support the Buffett Rule, a proposal to correct an unfair tax system that forces middle-class families to pay a higher rate than millionaires. It’s named for billionaire Warren Buffett, who is leading the fight to fix the system after learning he pays a lower tax rate than his secretary. New polling reveals that the majority of Americans support tax reform through the Buffett Rule.
“The Buffett Rule is simple: nobody making more than $1 million each year should pay a smaller share of their income in taxes than a middle class family pays. Middle-class families have paid enough,” said Tammy Duckworth, who is opposing tea party stalwart Joe Walsh in Illinois’ 8th District.
Rather than a balanced approach to reducing the deficit, Walsh, Dold and Biggert all voted for the Ryan budget, which locks in huge tax breaks for the top 1% while forcing every senior who will retire in ten years to pay more for Medicare, and making 10 million struggling families pay $1,000 in additional college tuition costs.
"Rather than asking seniors to pay more for Medicare and families to pay more for college, we are simply asking those with incomes like Warren Buffett to pay a tax rate at least equal to middle-class families." added Brad Schneider, who is taking on incumbent Robert Dold in Illinois’ 10th District.
According to the IRS, 22,000 households that made more than $1 million in 2009 paid less than 15 percent of their income in income taxes — and 1,470 managed to pay no federal income taxes on their million-plus-dollar incomes. That includes Mitt Romney, who paid just 13.9% in federal income taxes on 2010 income of over $21 million. That contrasts with a married couple with no kids making $75,000 per year, who would pay over 20% according to the tax calculator provided by the Obama campaign at barackobama.com/buffettrule. Yet, Congress is preparing to vote on an additional Republican proposal that would cut taxes for individuals making more than $1 million even further and shift even more of the tax burden onto the middle class.
“We are asking those who make over $1 million to at least pay the same rate middle-class families pay, not continue to make the mistakes Congresswoman Biggert made by exploding the deficit and loading our children with debt to finance their tax giveaways,” said Bill Foster, who is running in Illinois’ 11th District against long-time incumbent Judy Biggert.