“Buffet Rule” introduced in Senate, but Congress more interested in “Romney Rule”

Congress is much more focused on maintaining what should be called the “Romney Rule,” that allows the ultra-rich to hide money in Cayman and Switzerland while paying less taxes than Buffet’s secretary.

By the way, isn’t the “Romney Rule” supposed to exist so people like Mitt Romney reinvest and create new jobs, rather than sit back and collect income from his previous job? The only job creation Romney cares about is his ongoing, failed, attempts to get elected to office, going on twenty years nows.  CNBC:

If passed, it would require that anyone earning more than $1 million a year, including capital gains, would pay a minimum 30 percent federal tax rate.

The bill provides for a phase-in period for those making between $1 million and $2 million to “make sure that no taxpayer is ever in a situation where earning an additional dollar of income will increase his or her taxes by more than that dollar,” according to Whitehouse.

An American in Paris, France. BA in History & Political Science from Ohio State. Provided consulting services to US software startups, launching new business overseas that have both IPO’d and sold to well-known global software companies. Currently launching a new cloud-based startup. Full bio here.

Share This Post

© 2018 AMERICAblog Media, LLC. All rights reserved. · Entries RSS