(***Breaking: Senate to vote April 15th (Tax Day) on "Buffett Rule" legislation!)
Enough is enough. Tell Congress that it's time to support the "Buffett Rule," President Obama's proposal that those making a million or more a year pay taxes at at least the same rate as those in the middle class. America supports this, a proposal is being introduced in the Senate, and it’s time for our elected officials to have the guts to vote for this eminently sensible idea.
With the revelation that Mitt Romney earned over $20 million in income in 2010, and paid a tax rate of only 13.9%, America was once again reminded just how much our tax code is skewed towards the top 1% and against the 99%. Someone working to earn income would have paid a top rate of 35%. And yet, because Romney’s income was from investments, the rate topped out at 15%. In what crazy world is this fair?
Senator Sheldon Whitehouse of Rhode Island is introducing legislation to fight back against this, and to make the Buffett Rule the "Buffet Rule of Law." And in breaking news, Chuck Schumer has announced that the Senate will vote on it on April 15th (Tax Day).
On Tax Day this year, Senate Democrats will put forward legislation that would aim to turn the so-called "Buffett Rule" - requiring higher taxes on the wealthiest Americans - into law. Senator Chuck Schumer, D-N.Y., in an appearance on CBS' "Face the Nation" Sunday, said Republicans can expect to see a proposal from Senator Sheldon Whitehouse, D-R.I., on April 15. "We are going to put on the floor, on Tax Day, a proposal by Sheldon Whitehouse that would enact the so-called Buffett Rule," Schumer told CBS' Norah O'Donnell. "It says those at the top pay 30 percent regardless of their deductions." (source: CBS News)
Tell your members of Congress to support Whitehouse's bill. It is utterly unfair for our tax code to tax the wealthy at a lower rate, and to tax investment income less than income someone has to work for.
Enough is enough. Tell Congress that it's time to support the "Buffett Rule," and make it the law of the land.
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