Taxes, Millionaires' Tax | featured news

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.

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....

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

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 ...

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.

The battle over whether tax increases can be used to cut the nation's debt flared Tuesday as the Senate's Democratic budget writer floated a possible millionaire's surtax to help cut projected deficits over the next decade. But Republican leaders flatly said no to tax increases....

The plan would generate $4 billion a year by raising taxes on the highest earners, in a move that would help to close the state’s budget deficit.