Democrats Use Millionaires Tax as Bargaining Chip

Wednesday, 18 May 2011 01:15 PM

By Dan Weil

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
Senate Democrats are playing politics with their proposals to raise taxes on millionaires. They know such a tax increase has little chance of making it through Congress, The Hill reports.

Millionaires tax, Bush tax cuts, Claire McCaskill, budget plan
Claire McCaskill
However, because the idea of a millionaires tax has popularity among the public, the Democrats are trying to use it to make Republicans agree to other tax increases.

Democrats are considering two tax ideas to include in their budget plan. One would end the George W. Bush-era tax cuts for families with an annual income of more than $1 million. And the other would slap a 3 percent to 5.4 percent surtax on these families.

Sen. Claire McCaskill, D-Mo., explained what the proposals mean. “I don’t think it’s realistic that would ever pass,” she said.

“I think we’re trying to find a negotiating point.”





© 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:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Perdue Defeats Kingston in Georgia GOP Senate Runoff

Tuesday, 22 Jul 2014 21:36 PM

Businessman David Perdue has defeated longtime Rep. Jack Kingston in a Republican runoff for Georgia's U.S. Senate nomin . . .

Bob Dole Attacks Obama Policies in Ad for Rep. Lynn Jenkins

Tuesday, 22 Jul 2014 17:40 PM

Former Republican Senate Majority Leader Bob Dole, who turned 91 on Tuesday, has lost none of his political zest for "bi . . .

Paul Ryan Question to FEC Hints of Possible White House Run

Tuesday, 22 Jul 2014 16:15 PM

Rep. Paul Ryan plans to take a long bus ride during his coming campaign for Congress, but a recent request by the Ryan c . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

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