For a while, Democrats in Congress were on the run when it comes to taxes, cowed by strong opposition to tax increases from Republicans and the public. But now Senate Democrats feel emboldened to raise the issue again,
Politico reports.
Following the brouhaha over GOP presidential candidate Mitt Romney’s tax returns, Democratic senators plan votes to end the Bush tax cuts for wealthy Americans. They also seek to raise taxes on investment income in an effort aimed at least partly at former Massachusetts Gov. Romney, who receives the bulk of his wealth from investment income.
None of the tax increases that the Senate may vote on has a chance to become law, thanks to the GOP’s control of the House. But the Democratic senators’ machinations give them a chance to grandstand ahead of November’s elections.
Senate Majority Whip Dick Durbin believes he already has found an angle. “I think it’s impossible to explain why a man making $21 million a year pays a lower tax rate than a working family in Illinois that makes $21,000 a year,” he told Politico.
Republicans aren’t impressed. Referring to President Barack Obama’s call for a tax increase on the wealthy, Texas Sen. John Cornyn, chairman of the National Republican Senatorial Committee, said, “He’s talking about raising taxes on the people we’re depending on to create jobs in a recession.”
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