Ooooh!

[ProSense]

Senator Introduces Bill To Close $17 Billion Capital Gains 'Tax Gap', by Leroy Baker, Tax-News.com, New York 21 March 2006

US Senator Evan Bayh (D-Ind) has introduced legislation to help close the $17 billion so-called capital gains 'tax gap' by making the tax code fairer and simpler for American taxpayers.

Senator Bayh's legislation, the Simplification Through Additional Reporting Tax (START) Act of 2006, will require brokerage houses and mutual fund companies to track and report to taxpayers and the IRS investment information related to capital gains taxes, making it easier for taxpayers to file their tax returns and helping the IRS crack down on would-be cheaters.

Senators Barack Obama (D-IL), Tom Carper (D-DE), and John Kerry (D-MA) are original co-sponsors of the START Act.

"No business would succeed if it failed to collect $17 billion in sales every year, and the United States government can't afford to operate that way either," Senator Bayh argued in a statement published last week.

more...

http://www.tax-news.com/asp/story/story_open.asp?storyname=23051

[jillan]

1. Ooooh La La!!

The next time some rw hack asks the famous question
"What do democrats stand for?"

The answer should be:
"Dems stand for using their brains!"

This could be interesting.
Great find!

on edit -
Hope you will post this in gd tomorrow.

[JI7]

2. has anyone ever heard a Republican answer any of these things ?

[rox63]

3. Because all of it's sponsors are Dems

The rethugs probably won't let it even get out of committee. :(

[ProSense]

4. You're right! n/t

[jillan]

5. Of course not.

Why would they want to give up their tax breaks??

Education v tax breaks
Health insurance v tax breaks
poverty v tax breaks
veterans v tax breaks

And the tax breaks always win.
Sick, twisted, out of touch assholes.

[TayTay]

6. Oh Gawd in Heaven. You know you're in a slow period when

Capital Gains Tax Reform is 'the good news.' This is all very good governmenty and we need to keep track of this and make sure that the money owed is paid and, ahm (yawn), that the money that is made on investments is taxed higher than money working people makes and, ahm, zzzzzzzzzzzzzzzzz.

Honestly, if this is the good news for this quarter, I am going to die of friggin boredom.