See Gemma Run


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Anthony Gemma

 

Anthony GemmaDark clouds hung over Providence’s Prospect Terrace Park as businessman Anthony Gemma, lately of Mediapeel, said, in a roughly 15 minute speech, that he would bring “change” and “new ideas,” while redefining what service meant for the office of U.S. Congressman.

While the congressional hopeful spoke, supporters looked on, and a quartet picnicked despite the light sprinkling of rain. Cupcakes and cookies were laid out for the decently sized crowd.

Mr. Gemma attempted to put his candidacy in the paradigm of former Democratic Party presidents like Franklin Delano Roosevelt and John Fitzgerald Kennedy, whose New Deal and New Frontier programs, respectively, remain major touchstones of the Democratic Party.

Thus Mr. Gemma introduced that his candidacy would run under the theme of the “New Idea”. However, he did not once say what that New Idea would be, leaving the door open to speculation.

Mr. Gemma also said that there was a very real chance that the Democrats could win back control of the House of Representatives this election, and that it might be as close as one seat. He said that he had the best chance of defeating Republican nominee Brendan Doherty in November, though polls show him in a poor position against Doherty, with a large portion of the electorate undecided.

In a speech that was big on sweeping abstractions like “vision,” “courage,” and “confidence,” Mr. Gemma mentioned only that he had a jobs plan, not what was in it. No single concrete policy was announced, only that they would be rolled out over the course of the campaign. He claimed he shared the same anxiety and anger as many voters in the 1st Congressional District.

Anger was a major theme of the speech, as Mr. Gemma attacked Mr. Doherty for having “zero understanding” of how to create jobs. Claiming that Mr. Doherty was a creature of the public sector, Mr. Gemma said that he alone of the candidates for the office of U.S. Congressman understood how to create jobs. But as for his opponent in the primary season, incumbent Congressman David Cicilline, Mr. Gemma never once deigned to mention him by name, instead making a veiled reference to Mr. Cicilline’s recent apologies by saying “I won’t have to apologize to you for lying so that I can win your vote.”

He never once made clear how he intended to take on Mr. Cicilline, who has the support of the Governor, the Treasurer, the current Mayor of Providence, the rest of Rhode Island’s congressional delegation, and a massive advantage in funding. Perhaps though, the cross-section of politicians Mr. Gemma rallied to his conference offers some insight. Mr. Gemma thanked Providence councilmen Davian Sanchez, Wilbur Jennings, and Nick Narducci for attending, along with former mayors John Lombardi of Providence and said that Charles Lombardi of North Providence had not yet arrived.

Upon finishing his speech, Mr. Gemma made a beeline towards the park’s exit, working only the part of the crowd that stood between him and the street, as the press tagged along. He then climbed into a waiting GMC sports utility vehicle and drove away, prompting one supporter to exclaim that the press had chased him away from his own press conference.

The Buffett Rule: Your Straight Deal on Taxes


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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, the wealthiest 400 Americans, who earned an average of roughly $270 million in 2008, paid an average tax rate of just 18.2 percent that year. That’s about the same rate paid by a single truck driver in Rhode Island. It’s not right, and we need to restore fairness to our tax code.

And next week, we have a key opportunity to do just that. The U.S. Senate has scheduled a vote on the eve of tax day, April 16, on the Paying a Fair Share Act, legislation I introduced to require multi-million-dollar earners to pay a minimum federal tax rate of 30 percent.

Implementing the so-called “Buffett Rule” would restore some badly needed fairness to our tax system. It would also generate an estimated $47 billion in new revenue that could help reduce our federal deficit or repair decaying infrastructure. President Obama has already thrown his weight behind the bill, urging the Senate to pass the Paying a Fair Share Act — but the GOP has made it clear that they want to safeguard tax loopholes for the ultra-wealthy.

You can lend your voice to this important fight by becoming a citizen cosponsor of the Buffett Rule at www.BuffettRuleBill.com.

This would be a real win-win for middle-class families at a time when so many Americans are fed up with a system that gives special deals to the wealthy and well connected. Polls have shown that Americans across the country strongly support the Buffett Rule. And the Rhode Islanders I’ve heard from say the same thing: They’re feeling more and more squeezed by this economy, but they pay their fair share in taxes, and they expect millionaires and billionaires to do the same.

We need to act now to correct this inequity and show the American people that we are on their side. This is a test of Congress to show that we can give them a straight deal, not just help special interests.

I’m not saying this will be easy — the reality is that this will be a tough fight. But you know what? It’s the right thing to do, and we should keep at it for as long as it takes.

We know the special interests that fought for unfair tax loopholes will fight against the Buffett Rule, and you can bet that they will continue to urge Republicans to oppose our efforts to restore fairness.

That’s where you come in. As we get closer to our vote on April 16, we need to demonstrate that there is a groundswell of support to turn the Buffett Rule into law — and your voice can be part of that groundswell.

Please become a citizen cosponsor of the Paying a Fair Share Act, then call your senators and tell your friends to do the same.

If the American people make their voices heard and put enough pressure on Congress, we can restore fairness in our economic system, do what’s right for the middle class, and show that Congress can stand up to special interests.

I hope you’ll join me in this fight. It’s one worth fighting.

This post originally appeared in the Huffington Post.

Wall St. Will Fight Buffett Rule, Whitehouse Says


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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,” Whitehouse told me last week. “I think the Wall Street special interests are going to be the strongest [opposition] group on this.”

That’s because his bill, known more formally as the Paying A Fair Share Act, would hit investment bankers and hedge fund managers disproportionately hard. The bill would tax all income earned over $1 million, including capital gains and stock dividends, which is currently taxed at a lower rate. Hence why Warren Buffett pays a lower tax rate than his secretary – because more of his income is on capital gains and stock dividends.

“The bulk of the really big money like this is made in the financial sector,” Whitehouse said.

While Whitehouse expects Senate Republicans to initially align themselves with Wall Street, he said he thinks Democrats can pick up at least a few GOP supporters if the American people get behind the bill.

“The magic of democracy is that even when people are beholden to special interests,” he said, “when they start to hear from their constituents that they expect them to vote a certain way on something and they don’t understand why they are not, they can dump their special interests in a hurry and suddenly be voting the right way.”

There’s even recent historical precedent for such. He recalled when the Senate was slated to vote on Wall Street reform.

“We tried to go to the Wall Street reform bill in the Senate and Republicans filibustered it,” Whitehouse told me. Majority Leader “Harry [Reid] found a way to call it up again and we lost again. Then Harry figured out a way to call it up again and we lost again.

“It was either fourth or fifth time it was scheduled for a vote, and we were going to stay up all night to bring attention to this, and at that point the minority leader came in to our leader, Harry Reid, and said, ‘I give up. My guys are getting killed, they are getting phone calls at home. We’re throwing in the towel, you can go to this bill.’ And that was a really clear sign that you can have special interest obstruction that can stop progress on a bill not once, not twice but four times and still in end prevail.”

Even if that happens, however, the bill isn’t expected to pass in the GOP-controlled House. But Whitehouse said debating the bill’s merits now has value in that it will put the issue squarely on the nation’s radar for when the Bush tax cuts expire at the end of the year when Congress is expected to do a major overhaul of the tax code.

Sen. Jack Reed is a cosponsor of the bill, and Congressman David Cicilline recently called on Speaker John Boehner to pass the bill in the House. The legislation is estimated to shave $50 billion from the national deficit over the next ten years.

Cicilline Calls for House Passage of Buffett Rule Bill


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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 derive a significant portion of their earnings from capital gains,” Cicilline wrote to Boehner. “Although there are many issues on which we may disagree, surely both Republicans and Democrats must acknowledge that there is something wrong with a system that asks a Fortune 500 CEO to pay a lower tax rate than his or her secretary.”

The House version of the bill is being sponsored by Rep. Tammy Baldwin, D- Wisconsin. In a conference call yesterday with Sens. Whitehouse and Chuck Schumer, D-NY, she said her constituents believe “our tax system rigged against middle class families and quite frankly it is.”

The Senate is expected to vote on the bill April 16. Yesterday on the conference call Schumer and Whitehouse said Democrats hope to pick up a few Republican votes. No date has been set yet for a House vote on the bill, where its chances of passing are less optimistic.
Here’s the full text of Cicilline’s letter to Boehner:

Dear Speaker Boehner,
For much of the past year, public attention has been focused on the issues that divide us as Democrats and Republicans as well as the partisan tactics and extreme rhetoric that has been used in pursuit of conflicting priorities. But at a time when our economic recovery is still struggling to take hold, and with my home state of Rhode Island now experiencing the second highest unemployment rate in the country, working families want to see Washington put aside partisan rhetoric in favor of pragmatic solutions to the challenges we face.

One of the most urgent areas of concern lies in reforming our tax structure. As you know, 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 derive a significant portion of their earnings from capital gains. Although there are many issues on which we may disagree, surely both Republicans and Democrats must acknowledge that there is something wrong with a system that asks a Fortune 500 CEO to pay a lower tax rate than his or her secretary.

Last week, President Barack Obama reiterated his call for Congress to institute the “Buffett Rule.” My fellow Rhode Islander, Senator Sheldon Whitehouse (D-RI), has introduced legislation in the U.S. Senate, that would ensure multi-million dollar earners pay at least 30% of their income in taxes, which would ensure parity with taxes imposed on middle class families.    The Senate has scheduled a vote on this legislation, the Paying a Fair Share Act, S. 2230, for April 161h.    As you know, Congresswoman Tammy Baldwin (D-WI) has introduced the House companion to Senator Whitehouse’s bill, H.R. 3903, which I have cosponsored.

As millions ofmiddle class Americans struggle to make ends meet, and with the President calling on Congress to act, I believe we must put aside partisan differences and do the right thing for our country by considering this commonsense proposal. I strongly urge you to take all necessary action to ensure that legislation instituting a “Buffett Rule” is brought to a vote when the U.S. House of Representatives returns to session.

I thank you in advance for your consideration and look forward to your response.

Obama Plugs Whitehouse’s ‘Buffett Rule’ Bill


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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 at least the same tax rate as his secretary is just common sense.  We don’t envy success in this country.  We aspire to it.  But we also believe that anyone who does well for themselves should do their fair share in return, so that more people have the opportunity to get ahead – not just a few.

“So every Member of Congress is going to go on record.  And if they vote to keep giving tax breaks to people like me – tax breaks our country can’t afford – then they’re going to have to explain to you where that money comes from.”

Here’s the , and here’s the video:

The Senate is slated to vote on, or at least talk about, the Buffett Rule on April 16, symbolically the day before income tax filings are due. Sen. Jack Reed, and 12 others, have signed onto the bill.

Also called the Paying your Fair Share Act, Whitehouse’s office said it will: “ensure that multi-million-dollar earners pay at least a 30 percent effective tax rate.  It would apply only to taxpayers with income over $1 million – including capital gains and dividends.  Taxpayers earning over $2 million would be subject to a 30% minimum federal tax rate.  The tax would be phased in for incomes between $1 million and $2 million, with those taxpayers paying a portion of the extra tax required to get them to a 30% effective tax rate,” according to a recent release from Senator Whitehouse’s office.

Here’s what Whitehouse told me about it when we spoke at a recent community supper in East Greenwich:

Whitehouse will be hosting a roundtable discussion on the Buffett Rule in Cranston on Tuesday. He’ll be joined by “CCAP Executive Director Joanne McGunagle and Rhode Islanders from Cranston, Providence, and Woonsocket,” according to a release. “at the Comprehensive Community Action Program’s (CCAP) headquarters in Cranston.”

Senator Whitehouse explains the Buffett Rule


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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 at this United States government from. Unfortunately in a lot of ways, it’s a very accurate framework, and the tax code is one of the ways to prove that is really the case right now.”

The substantial change to the tax code, he said, would be that capital gains would be taxed just like any other kind of income for those who make more than a million dollars in a year. So a CEO who gets paid in stock options, would still have to pay taxes on that if they earned more than a million.

He said the proposal could come up for a vote “in the three or four  months on either side of the New Year” when Democrats will could be negotiating from a position of strength because of the expiration of the Bush tax cuts. Right now, he said, the bill isn’t likely to get substantial floor time, unless the American people demand it.

Prompted by a question at the very end of the discussion, Whitehouse, who it turns out was once considered a candidate for the Supreme Court, threw a jab at the Citizens United decision: “Corporations are not people. I think the decision claiming that they were will go down in history as one of most grievous errors of the Supreme Court.”

Interestingly, Ted Nesi reports this morning that National Journal recently ranked Whitehouse as the 19th most liberal senator after two consecutive years of being ranked as the most liberal.


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