Buffett Rule Is Back
The Buffett Rule is back in play inside in the beltway. Author of last year’s signature piece of progressive legislation in Congress, Senator Sheldon Whitehouse announced today that his 2012 Paying A Fair Share Act, aka the Buffett Rule bill, will be a component in Senate Democrats plan stave off the sequester. It’s a common-sense [...]
Whitehouse, Baldwin Press Obama on Buffett Rule
Sheldon Whitehouse has joined with his new progressive ally in the Senate, Tammy Baldwin of Wisconsin, to implore President Obama to include his Buffett Rule bill in the so-called fiscal cliff negotiations. Whitehouse, Rhode Island’s highest ranking progressive, introduced the Buffett Rule bill – also known as the Paying a Fair Share Act – earlier [...]
Why Stock Buybacks Benefit Corporate Greed
One of my last posts touched on how corporations are spending their money, what they are doing and not doing with the piles of record profits they’ve been making in the past few years while median wages have stagnated or fallen. Here’s some additional information. First, the cites: online.wsj.com/article/SB10000872396390444657804578052472320753336.html www.thereformedbroker.com/2012/10/12/the-buyback-epidemic/ If you piece the two [...]
Whitehouse Says Buffett Rule Will Be Back
Sen. Sheldon Whitehouse has said all along that it would likely take several votes before Democrats could break the hold that Wall Street special interests hold over their republican counterparts and such seems like the fate for the Buffet Rule, which was successfully filibustered Monday on its first vote on the Senate floor. “I’ll keep [...]
Whitehouse’s Buffett Rule Up for Senate Vote Today
After a solid week of Democrats making Sheldon Whitehouse’s Buffett Rule bill the biggest legislative priority in the country, the Senate today will take up the proposal. Seems as if the efforts may pay off as a new Gallup Poll shows that 60 percent of Americans support it. Today’s vote is a motion to proceed [...]
The Buffett Rule: Your Straight Deal on Taxes
Back in 1985, President Ronald Reagan said: “We’re going to close the unproductive tax loopholes that have allowed some of the truly wealthy to avoid paying their fair share.” Almost three decades later, we’re still hearing about ultra-high income earners like Warren Buffett paying a lower tax rate than his secretary. According to the IRS, [...]
Wall St. Will Fight Buffett Rule, Whitehouse Says
Wall Street lobbyists and associated special interest groups will be the biggest obstacle to passage of the Buffett Rule bill when the Senate takes it up in one week, said the legislation’s prime sponsor, Rhode Island Sen. Sheldon Whitehouse. “I think Wall Street is going to be in on this with all of its energy,” [...]
Cicilline Calls for House Passage of Buffett Rule Bill
Congressman David Cicilline has joined the Buffett Rule movement, calling on Speaker John Boehner to pass the House version of Sen. Sheldon Whitehouse’s Paying A Fair Share Legislation. “Under current tax laws, working men and women may be asked to pay a higher percentage of their income in taxes than wealthy individuals, many of whom [...]
Obama Plugs Whitehouse’s ‘Buffett Rule’ Bill
Sen. Sheldon Whitehouse’s “Buffett Rule” bill got a big boost today as President Obama, long a fan of the proposal, focused his weekly address on the legislation that would prevent millionaires from shielding their earnings from income taxes. “Now, some people call this class warfare,” Obama said. “But I think asking a billionaire to pay [...]
Senator Whitehouse explains the Buffett Rule
Senator Sheldon Whitehouse, sponsor the so-called Buffett Rule, sat down with the Center for American Progress to discuss his bill for a mandatory income tax rate of 30 percent for millionaires. “Regular folks,” he said, think politics has become rigged to favor the richest Americans “and that’s a bad framework for people to be looking [...]
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