Posted on 10/05/2011 12:18:09 PM PDT by Positive
WASHINGTON—Senate 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.
(Excerpt) Read more at online.wsj.com ...
These folks had an adjusted Gross Income of approximately $1.685 Trillion. Now this is every taxpayer who has and AGI over $380,000...not quite a million.
Nevertheless, if you apply a 5% surcharge on their income, it raises $84 Billion...not the $447 Billion cost of the "Plan".
So I wonder where they expect to find the other $363 Billion???
Are Harry's math skills that much better than mine?
In that case I’d like to propose a 100% surtax on Democrats.
I propose a 5% cut in every congressmans pay!
Warren Buffet, George Soros et al. won’t pay any tax on that, either, since they don’t get their money from income, salary, wages or tips.
If the Democrats want to put up or shut up, they can put a 50% levy on WEALTH, i.e., the sum total of what George Soros OWNS over a million dollars. Otherwise, SHUT UP you commies.
5% tax on millionaires (except democrat senators and other fiends of baraq).
bet on it.
I seemed to recall the president saying the bill was already paid for.
If I have a million dollars I am a millionaire. However, if I am retired and I lend my million to the Feds for 10 years (by buying 10 year treasury bonds) at 2%, my income is only $20,000 per year...so I pay no taxes.
On the other hand if I earn taxable income of $1,000,000 I have to pay what...$350,000? Then Sunday if I tear my ACL, I make nothing next year and am hardly a Millionaire,
Yes, it’s been said over and over again, there’s even a TV commercial saying it.
The bill is already paid for, according to the Obama admin.
“...However, if I am retired and I lend my million to the Feds for 10 years (by buying 10 year treasury bonds) at 2%, my income is only $20,000 per year...so I pay no taxes.”
No one in their right mind will lend anything to this group of felon/cretins.
“Somebody” has loaned them $14,700,000,000,000 so far...
The purpose (pretext) for charging the 5% of millionaires is to support Obama’s Job Bill.
Why don’t they just leave the millionaires alone and let THEM create jobs, instead of Uncle Sam wasting even more money creating negative jobs?
Oh, right, the Democrats are not interested in creating jobs.
Everything they do is measured over 10 years, so 10 X 84 billion is $840 billion. That’s Harry math
Nice trap the RATS have laid for the Repubs. If they vote against it will nicely illustrate the Repubs not willing to tax their rich friends to help create jobs. Yes I know it is BS but it will be a winning argument for them. Perception is reality. The refusal to raise any tax on anyone makes them look obstructionist and unreasonable. It might be better for them to support a 1% tax increase on those making a million a year to counter that argument.
They plan to run it for 10 years
Nevertheless...what do these morons know about how many folks will earn $1 Million per year over the next 10 years.
Seriously, not meaning to be disrespectful, news within last hours is that Steve Jobs has died...he won't earn a Million over the next years...
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