Do Democrats have a plan for dealing with the fiscal “cliff”? Based on interviews I conducted at Netroots Nation with four members of the Senate Democratic caucus — Senators Sheldon Whitehouse, Ben Cardin, Jeff Merkley and Sherrod Brown — it seems they have far more than one.
|By: David Dayen Monday June 11, 2012 8:45 am|
|By: David Dayen Tuesday April 17, 2012 7:15 am|
To the surprise of absolutely no one, Senate Republicans blocked consideration of the Buffett rule last night with a filibuster. The bill would have set a millionaire’s minimum effective tax rate at 30%, with a phase-in between $1 million and $2 million and an exemption for charitable donations. But Senate Republicans wouldn’t let it get onto the floor for debate.
|By: David Dayen Monday April 16, 2012 1:40 pm|
Today, the Senate will vote on a motion to proceed to the Buffett rule, formally known as the Paying a Fair Share Act. A filibuster is expected, about 5:30 p.m. ET. This concludes a two-week push by Senate Democratic leaders and the Obama Administration on the bill, and the larger conversation around tax fairness and the need for the rich to pay a higher amount than those in the middle class.
|By: David Dayen Saturday April 14, 2012 7:00 pm|
I don’t have a huge problem with the Buffett rule, which will get a vote in the Senate and fail on Monday. But I do have a problem with the concept of a minimum tax based on adjusted gross income as a killer app in tax policy, rather than just raising rates and closing loopholes. To wit, high-income earners already have their tax avoidance strategies lined up.
|By: Jon Walker Friday April 13, 2012 5:00 pm|
A solid majority of the country favors the “Buffett Rule” which would require people making over a million dollars a year to pay at least 30% in taxes.
|By: David Dayen Wednesday April 11, 2012 11:30 am|
With the general election kicking off yesterday, we will have seven more months of the kind of “I know you are but what am I” politics we saw on display yesterday. It’s almost too depressing to even contemplate. Mitt Romney started it off with a claim about the recession’s impact on women, which gave new work for the folks at PolitiFact. We have seven months of this coming.
|By: Jon Walker Tuesday April 10, 2012 7:15 pm|
President Obama has been hammering the so called “Buffett Rule” as a key part of his 2012 campaign and an important way to distinguish himself from Republicans on issues of economic justice and deficit reduction. Obama was in Florida today pushing the Buffett Rule, while his administration released a new report on it. But it wasn’t a priority when the Democrats controlled Congress, and the chances they’ll control it next year are slim.
|By: David Dayen Tuesday April 10, 2012 8:45 am|
As they search for a attractive agenda, the Obama campaign has latched on to the Buffett rule, the alternative minimum tax for millionaires, as a key campaign plank. The fact that they will face Mitt Romney in November, someone who pays less than a 15% effective tax rate, doesn’t hurt either.
|By: David Dayen Friday April 6, 2012 11:55 am|
Yesterday, Democrats began their media push on the Buffett rule, which Sheldon Whitehouse and Tammy Baldwin have turned into legislation called the Paying a Fair Share Act. The bill would set a minimum 30% effective tax rate for earners making over $1 million.
|By: David Dayen Tuesday April 3, 2012 12:15 pm|
The President attacked Paul Ryan’s radical budget at a speech for newspaper executives today. The Administration sees this speech on a continuum with the populist tone of last year’s speech in Osawatomie, Kansas. It attempts to keep faith with the middle class, and it will draw a contrast between this vision and the cruel vision of Paul Ryan’s America, a “you’re on your own” society that would attempt to sever the responsibility between government and its citizens. But the President may have a problem with the grand deal he tried to cut last year.