and good evening, everyone. i m erin burnett outfront tonight. is breaking news, the senate voting on the buffet rule and failing tonight. mostly along party lines. senate democrats called for a vote on the so-called buffett rule today. it is one of the president s election year priorities. it calls for people who earn a million dollars in adjusted gross income to pay a minimum tax rate of 30%. now, the left-leaning group moveon.org was quick to jump into the debate. target number one for them, mitt romney. when the wealthiest 1% pay a fair tax rate like the rest of us, it keeps the american dream alive for everyone. so tell mitt romney, kittens are cute. 1% fat cats who won t pay their fair share? not so much. okay. we did the math, though, and the buffett rule doesn t add up to keeping the american dream alive. at least when it comes to raising the deficit. it would raise about $4.7 billion a year in revenue. one half of one percent of $901 billion. that s the president
and good evening, everyone. i m erin burnett outfront tonight. the senate voting right now on the buffett rule. senate democrats called for a vote on the so-called buffett rule today. it is one of the president s election year priorities. it calls for people who earn a million dollars in adjusted gross income to pay a minimum tax rate of 30%. now, the left-leaning group moveon.org was chick to jump into the debate. target number one, mitt romney. when the wealthiest 1% pay a fair tax rate like the rest of us, it keeps the american dream alive for everyone. so tell mitt romney are cute. 1% fat cats that won t pay their fair share? not so much. okay. we did the math, though, and the buffett rule doesn t add up to keeping the american dream alive. it would raise about $4.7 billion a year in revenue. one-half of 1% of $901 million. that s the president s forecasted budget deficit for 2013. already those who earn over $1 million in this country pay a greater share of the incom
tactics by republicans? today s accusations that suddenly harry reid is anti-christian because he s thinking they could get some workdays in after christmas on things that may not get done before christmas? look, the republicans have blocked everything this year. it s almost like a scoreped earth policy that the republicans have. i mean, they ve blocked things that they even voted for later on, just to slow things down and stop things. and stop us from getting things done in the senate. and so now they re crying because we ve reached the end of the year and our leaders say we have things to do and get done. most americans, lawrence, in this country yes, they do take off christmas. they ll probably take off maybe a half a day on friday, they ll take off christmas, they ll take off sunday. most americans will come back to
sand. ty don t think this is going to be enough for me. this is a very flawed product that s very expensive and at the end of the day doesn t do the things we like. the more you look at, the more the deal seems to be not very good for working people. the tax cut for the payroll tax, the unemployment insurance. they re only one year extensions. and the tax cuts for millionaires and billionaires in two years will be difficult for me. i m not drawing a line in the sand. but the bill has to get better in this process. are you surprised you could end up voting the same way as tea party members of the house of representatives on a bill like this? yes. you have me rethinking it. the answer is yes. but, you know, in it does call out a very important distinction here, though. a lot of the tea party guys of mitch mcconnell and others, their singular objective is to undermine president obama. i m not trying to do that, i m trying to bolster his best instincts to get the right thing done her
workdays in after christmas on things that may not get done before christmas? look, the republicans have blocked everything this year. it s almost like a scoreped earth policy that the republicans have. i mean, they ve blocked things that they even voted for later on, just to slow things down and stop things. and stop us from getting things done in the senate. and so now they re crying because we ve reached the end of the year and our leaders say we have things to do and get done. most americans, lawrence, in this country yes, they do take off christmas. they ll probably take off maybe a half a day on friday, they ll take off christmas, they ll take off sunday. most americans will come back to work that week between christmas and new years. and so why are we so special that we shouldn t be working that week also to get the business done that will make our country better. the house has passed don t ask, don t tell as a standalone bill, what are its chances