This is, without a doubt, the most intense piece of tax reform we have seen in a long time; in that if it passes the rich will have to pay a minimum of 30 percent of their adjusted gross income; still a slightly lower percent of income than the average american, but about twice the percent they pay now.
Of course, this will pass in the senate and fail in the republican controlled house. The senators clearly know this, and I would bet they also know that it will fail in the house just in time to run a billion campaign ads about how the Republicans are the lapdogs of the right. An entirely valid criticism as well as one that is rather popular with the 87 percent of americans who disapprove of congress at the moment. So, either the republicans do what their sacred formula dictates and block the tax reform, giving dems an assload (science term) of political ammunition; or we get some real, legitimate tax reform and debt/budget relief. Its a win win, and I wonder if the only reason it took so long for them to do it is because they were saving it for now. Clearly they watched this past season of Boardwalk Empire.
Link:
http://m.denverpost.com/denverpost/db_108615/contentdetail.htm?contentguid=SZUZDazj
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