DOA? WASHINGTONâSenate Democrats proposed a 5% surtax on people earning more than $1 million a year to pay for the $447 billion cost of President Barack Obama's job-creation bill, in a move designed to shore up Democratic support for the measure. The proposal would replace the range of tax deductions for wealthy people, oil companies and other businesses that the president had proposed to end to offset the cost of the job-creation initiatives in his plan. Democratic leaders said they hoped to bring the revised plan to the Senate floor next week for debate. But assuming they keep all of their votes, they would need at least four Republicans to vote in favor of any effort just to start debate on the legislation. http://online.wsj.com/article/SB100...12930412626412.html?mod=WSJ_hp_LEFTTopStories
As an alternative, i propose a 75% marginal rate on anyone earning income from the film, music, entertainment or journalism fields, plus a special 99% cap gains rate for anyone older than the age of 80 working for any company holding investments in insurance, railroads, Coke and Sees Candies.
Did you hear the Greek protestors? They said to the gov't "You promised to tax the rich and help the poor." After Obama taxes the corporate jet set and every millionaire and finds out this is not enough money, he's going to be in trouble.
I want a 20% tax on stupidity. (That would logically include an extra 20% tax on all congressmen other than Ron Paul.) Tax what you want less of.
I would also give the man who turned down the congressional pension (because he feels he shouldn't be getting rich on our dime), a pass on this proposed surcharge.
Dumb idea to attach this tax hike to a jobs bill. Taxes needed to be addressed, but attaching it to this bill is just political theater and does nothing to actually get some jobs to market. Pay for it by bringing home all troops from Afghanistan today. Keep one submarine in the Indian Ocean and kill every living thing should they act out again. Much cheaper to do that, and will finally bring the successful conclusion to that shit-hole part of the world which everyone knows is coming anyway.