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View Diary: Sheldon Whitehouse to introduce 'Buffett Rule' bill Wednesday (47 comments)

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  •  tax simplification could be a selling point (6+ / 0-)

    The comment above by coffeetalk is on-point, it's not fair to have such a jump in total tax liability across the $1M threshold.  Still, I'm really enthusiastic about this bill.

    I hope the proposal can be supported not just for reasons of fairness, but also simplifying the tax preparation situation for ultra-one-percenters like Romney--his 2012 tax return could be just two simple pages plus documentation of charitable contributions, instead of the 500+ pages it is now.

    •  I doubt Mr. Romey will ever have a 2-page tax (2+ / 0-)
      Recommended by:
      Tim DeLaney, ferg

      return--there still will be some loopholes for his many accountants to utilize.  

      But I love the direction of this bill.

      Empathy is going to change the world.

      by Mayfly on Mon Jan 30, 2012 at 10:35:43 AM PST

      [ Parent ]

    •  Those 500 pages are largely (2+ / 0-)
      Recommended by:
      Mayfly, ferg

      disclosures.  We want people to disclose their offshore entities and their potential tax shelters, and in fact we're adding even more disclosure in the 2011 returns (reduplicative, redundant, nonsense disclosure, IMHO).

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