Sen. Sheldon Whitehouse set to introduce 'Buffett Rule' tax bill

[kpete]

I’m told that Senator Sheldon Whitehouse [D-RI] is set to announce a proposal to do just this. The Senate Dem leadership is not commenting on this idea, but Dem leaders are looking for ways to hold votes on the agenda Obama laid out in his State of the Union speech. This would accomplish that perfectly. [...]


Whitehouse’s office shared some details of the proposal — which is called “Paying A Fair Share Act,” and will be introduced by Whiteouse next week.

http://www.washingtonpost.com/blogs/plum-line/post/senate-dems-should-force-gop-to-hold-vote-on-buffett-rule/2012/01/27/gIQAZFDoVQ_blog.html
http://www.dailykos.com/story/2012/01/27/1059139/-Sen-Sheldon-Whitehouse-set-to-introduce-Buffett-Rule-tax%C2%A0bill-?via=blog_1

[Lawlbringer]

1. Every Republican seat

now becomes vacant because they all keel over after hearing about this.

[FreakinDJ]

2. Hope ALL the Dems get on board and start playing hardball

Take down the Whole TeaFarty / Corp Whore crowd

[unblock]

3. we should call it "tax simplification for millionaires"

because really, that's what it is.

they will no longer need to bother with creative dodges to minimize their taxes, because once they get below an average of 30%, there's no point in doing anything further.

and the form becomes very easy, as it's basically:

+ how much did you make?
- how much did you give to charity?
= taxable income
* multiply by 30%
= that's how much you owe

all they need is just enough of the usualy deductions/dodges to get below the 30% effective rate under the old rules so that those no longer apply.