Here is how a new tax plan increases revenue

I didnt read the whole article because it was just a bunch of blah blah blah, but this is the important part I wanted to see.

Here's the breakdown of Buffett's income taxes for 2015, according to the statement: Adjusted gross income: $11.6 million Deductible charitable contributions: $3.5 million Total deductions: $5.5 million Federal income tax paid: $1.8 million

So basically, Buffet is paying like 15.5% tax on his income in 2015.

If the new tax plan actually takes away almost all the trash deductions, then we are looking at more like:

$11.6 Million * 0.35 = $4 Million. Yeah, that is a shit ton more money to the treasury. I'm guessing this is the case for most of the extremely wealthy.