Tags: obama | mcconnell | tax | plan

Minority Leader McConnell: Obama’s Tax Proposal ‘A Joke’

Thursday, 15 Nov 2012 02:25 PM

By Newsmax Wires

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
President Barack Obama’s proposal to increase taxes by $1.6 trillion over the next decade is laughable, says Senate Minority Leader Mitch McConnell.

“The only way we succeed is if the president steps up and leads,” he said on the Senate floor Thursday, The Hill reports. “And an opening bid of $1.6 trillion in tax hikes just isn’t serious. . . . It’s a joke."

Obama’s most recent budget plan called for raising that amount of revenue through higher taxes on corporations and the wealthy, defined as households with annual income of more than $250,000.

“What they want is to sock it to the ones they call ‘rich,’” McConnell said. Republicans will only negotiate a budget accord if Democrats agree to include spending cuts and entitlement reform as part of negotiations, he says.

A tax increase on those bringing in more than $250,000 wouldn’t matter, as it would only fund the government for a week, McConnell says. At the same time, such a tax hike would end up hitting small business, he and other Republicans say.

Americans are dubious that a budget agreement can be reached before Jan. 1, when automatic spending cuts and tax hikes are slated to begin, according to a new Washington Post-Pew Research Center poll. It shows that 51 percent of Americans don’t think a budget compromise can be reached to avoid that fiscal cliff, while 38 percent do.

© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Poll Watchers on Both Sides Keeping Close Eye on Voter ID Laws

Saturday, 25 Oct 2014 16:41 PM

Poll watchers for both liberal and conservative groups will be battling over voter ID laws on Election Day, with Democra . . .

Journalist Says Body Was 'At War' With Ebola

Saturday, 25 Oct 2014 15:43 PM

Ashoka Mukpo knew he really was in trouble when he saw the people treating him in full suits and hoods.The American vide . . .

Returning Ebola Health Workers to Get Paid Leave at Hospital

Saturday, 25 Oct 2014 15:14 PM

Employees returning from the West African countries hit hardest by Ebola will get a 21-day paid furlough from New York-P . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved