Millionaires' Tax | featured news

Hyping stats about the ‘Buffett Rule’

As we have noted, the problem is more symbolic than real. Most very wealthy people pay a good chuck of their income in taxes. Reid in his statement pointed to “7,000 millionaires” who paid no federal income taxes, which is not very much out of the nearly 250,000 taxpayers who file income taxes with adjusted gross income of $1 million or more.


Buffett millionaires tax to raise $47 billion: report

Millionaires Tax

A proposed 30 percent minimum tax on millionaires backed by President Barack Obama - dubbed the Buffett tax after investor Warren Buffett who supports it - would raise about $47 billion over a decade, according to a congressional report.


Poll: Millionaire tax popular, spending cuts too

An Associated Press-GfK poll shows that President Barack Obama's proposal to make millionaires pay a significant share of their incomes in taxes is widely popular. But the plan is not shaking the public's embrace of spending cuts as the best way to balance the budget....


Dems drop millionaires tax in year-end dispute

Harry Reid

Democrats backed away from their demand for higher taxes on millionaires as part of legislation to extend Social Security tax cuts for most Americans on Wednesday as Congress struggled to clear critical year-end bills without triggering a partial government shutdown.


Millionaires on Capitol Hill: Please tax me more!

Millionaires on Capitol Hill: Please tax me more!

Lobbyists for a day, a band of millionaires stormed Capitol Hill on Wednesday to urge Congress to tax them more....


GOP, Dems Reach Agreement on Jobs

GOP, Dems Reach Agreement on Jobs

Democrats and GOP reach a rare bipartisan agreement on jobs plan as Democrats toss out surtax on millionaires and Senate easily clears procedural hurdle Monday, pointing to passage of legislation later this week.

Senh: Finally. Again, the Republicans won: no millionaires' tax. They got their way. And tomorrow, they'll still complain.


Senate Democrats offer veterans jobs bill, without millionaire's surtax

Senate Democrats offer veterans jobs bill, without millionaire's surtax

Senate Democrats proposed Friday tax incentives for businesses hiring veterans as well as job training for all service members leaving the military. The measure was unveiled as the next piece in President Obama's jobs bill and as a remedy to unemployment among veterans.


Senate Democrats want millionaire tax to pay for Obama jobs plan

Senate Democratic leaders are proposing a 5% surtax on those earning $1 million a year as a new way pay for President Obama's jobs plan, turning to an issue with populist appeal as they line up support for a vote, possibly next week.


Multi-Millionaire Rep. Says He Can’t Afford A Tax Hike Because He Only Has $400K A Year After Feeding Family

Rep. John Fleming (R-LA) appeared on MSNBC with Chris Jansing this morning to attack President Obama’s new deficit reduction plan, which includes some tax increases on the wealthy. Taking up the typical GOP talking point, Fleming said raising taxes on wealthy “job creators” is a terrible idea that kills jobs because many of these people ...


Republicans criticize tax on millionaires idea

Republican leaders on Sunday criticized President Barack Obama's proposal for a new tax on millionaires, calling it "class warfare" and predicting it will face heavy opposition in Congress.


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