Sunday, April 15, 2012

Think about tax increases this week


Getting your tax return ready for April 17? Waiting for your refund? Senator Murray and Senator Cantwell are following Senator Harry Reid. They refuse to write a budget - for the third year in a row - in violation of  Congressional Budget Act of 1974. This week, instead of doing this required work, they are making politics with tax increases.

Yes, they want you to think about tax increases while you are suffering from the complexities in the tax laws - complexity that they have sustained and increased.

The US already has a Buffett rule. The Alternate Minimum tax was instituted in 1969 (modified 1982) because - guess - some high-income people were paying little to no federal income tax. Don't our senators know our current tax laws? Senator Murray 

And where is the tax return for Warren Buffet's secretary? And for Buffet? How can we make policy without seeing the basic data? Warren has a sound bite, but how can we check its validity?