Nothing could be more simple or more obvious. It is a grave injustice when people making a million dollars or more pay taxes at a lesser rate than the people in their secretarial pools. Newt “13.9%” Romney is a perfect example. In his State of the Union Address, Barack Obama proposed a Buffet Rule to address this. Republicans booed him. Senator Sheldon Whitehouse (D-RI) is about to introduce a bill to implement the Buffet Rule.

Warren Buffett has been talking for months about the unfairness in our tax system, pointing out that his secretary pays more in taxes than he, a billionaire, does. Buffett could be getting his day on the Senate floor, courtesy of Sen. Sheldon Whitehouse (D-RI).

Last week, Whitehouse announced his intention to introduce a bill that would rectify some of the tax inequality our current system allows. In a conference call with reporters today, he explained his legislation and confirmed that he will introduce it in the Senate this Wednesday.

Using Rhode Island wages as his example, he argued that the top 400 taxpayers in America are paying about the same percentage of income as a truck driver. "In theory," Whitehouse said, "we have a progressive tax code in which the greater income you have, the more you pay in percentage of income. Unfortunately, there are these huge exceptions to the rule of a progressive tax system,” he added. “I hope that many of my colleagues believe that these are loopholes that we can and should close.”

His bill would do that quite simply, without actually rewriting any tax code. Taxpayers making more than $1 million would pay either their regular amount, if it’s 30 percent or over of their income, or if it’s less, 30 percent… [emphasis added]