Democratic Leaders Propose New Tax on Millionaires

Thursday, October 06, 2011

On Wednesday, Senate Democratic leaders proposed a five percent surtax on Americans with incomes of $1 million or more per year. Senate majority leader Harry Reid said the surtax would raise nearly half of $1 trillion over the next decade, which is the amount necessary to cover President Obama's jobs bill. A recent CBS news poll showed that 64 percent of Americans think that those who earn more than $1 million per year should pay more in taxes, which means the public may be on board for the new tax. Now, Democrats will need to gain Republican support for the measure.

Ron Christie, former special assistant to President George W. Bush and a fellow at Harvard University's Institute of Politics, and Todd Zwillich, Takeaway Washington correspondent, analyze the Democrats' strategy and the policy behind it.

Comments [1]

listener

It appears that some have no understanding of political nuance and the difference between activists who quote the US Constitution and the those who recite the tropes of Marxism.

Oct. 06 2011 09:01 AM

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