Huffpost Politics
Elise Foley Headshot

Buffett Rule A 'Shiny Object': RNC Chairman

Posted: Updated:
Print Article

Republican National Committee Chairman Reince Priebus was dismissive Sunday of the Buffett Rule, calling it little more than a "shiny object" the president is trying to use to distract from his economic record.

"This is Obama's strategy. 'Look over here at this shiny object here. Don't look at the big picture, an economy on the brink that I didn't do a thing about and made things worse,'" Priebus told CNN's Candy Crowley on "State of the Union."

The Senate will vote on the change to the tax code on Monday, after a strong push from President Barack Obama. The Buffett Rule would require millionaires to pay at least 30 percent of their income in taxes.

Priebus said it would be "one single tiny alteration of the tax code" that would raise only enough to fund the government for 11 hours instead of making a significant dent in the deficit.

"We're talking about 11 hours of revenue," he said. "This is where we shut down Washington, D.C., to talk about 11 hours of revenue while millions of people are out of work."

Obama campaign strategist David Axelrod, speaking on "Fox News Sunday" with Chris Wallace," said the Buffett Rule would cut the deficit by $4 trillion over the next decade.

Obama responded to criticism on his push for the rule during his weekly address on Saturday.

"I know they'll say that this is all about wanting to raise people’s taxes," Obama said. "They probably won't tell you that if you belong to a middle-class family, then I've cut your taxes each year that I've been in office, and I’ve cut taxes for small business owners 17 times."

Around the Web

Obama stumps for 'Buffett Rule,' slams Republicans - ABC News

Obama says nation needs 'Buffett Rule' - Yahoo! News

Top Earners Can Find Ways Around Buffett Rule - Bloomberg

Buffett Rule or Not, Most Rich People Already Pay - Businessweek

Mitt Romney takes aim at “Buffett Rule,” says President Obama's ...

Obama: Buffett Rule will boost 'growth' - The Hill's Video

What the 'Buffett rule' reveals about Obama tax reform plans ...

Obama Makes Case for 'Buffett Rule' - NYTimes.com

Exaggerations abound on both sides of 'Buffett rule' debate, experts say

Senate 'Buffett rule' vote could highlight differences on taxes

Priebus labels 'Buffett Rule' a 'tiny alteration'

Will Obama's 'Buffett Rule' bridge tax divide?

Yes, the Buffett Rule is `political.' So what?