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
Send me more news as it happens.
 
 
Get me on The Wire
Send me more news as it happens.
Around the Web
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus

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