Rep. Hensarling on Buffett tax: More about politics than policy

Rep. Jeb Hensarling (R-TX) explains why he is opposed to the “Buffett rule” and discusses tax reform on Starting Point with Soledad O’Brien.

Rep. Hensarling says, “Well, I don’t think the president has shared all the facts and I think this is obviously more about politics than it is about policy. First as a policy, the president said this would go out and stabilize our debt, but if you look at the budget he submitted to Congress, which by the way, got zero votes in the House of Representatives, the “Buffett Rule” isn’t 1 percent of what he plans to spend. It’s not 0.1 percent. It’s 0.01 percent. So without any spending discipline, without any form, it doesn’t do anything to the deficit, number one. Number two, I think when people focus on it, in this economy why would you want to raise taxes on anybody? And then finally, when it comes to fairness, fairness is not found in taxing some people more. It’s about subsidizing them less.”

Starting Point with Soledad O’Brien airs weekday mornings from 7-9am ET on CNN.