He proposes the so-called Buffett ruleinvolving a 30% minimum tax rate for upper income earners, which would increase the capital gains tax rate by 100%.
There are, of course, exceptions to that ruleinvolving items rented for very short periods or where the rental includes a lot of additional service, but that is not what is going on in this situation.
While current reporting rules focus on pets traveling with their owners, the new rule would include incidents involving cats and dogs shipped by breeders.
Separately, a U.S. Tax Court judge prodded the IRS to explain why it was taking so long to rule on a whistleblower claim involving a former banker from New Jersey.
The U.S. Supreme Court has refused to hear a case challenging state and federal laws prohibiting corporations from making direct contributions to political candidates, possibly indicating how it will rule in a similar case involving limits on individuals.