Author Topic: Democrats reintroduce bill to create 'millionaires surtax'  (Read 297 times)

0 Members and 1 Guest are viewing this topic.

Offline mystery-ak

  • Owner
  • Administrator
  • ******
  • Posts: 321,961
  • Gender: Female
  • ‘I Want to Talk About Happy Things Man!’
Democrats reintroduce bill to create 'millionaires surtax'
« on: June 10, 2021, 04:31:44 PM »
Democrats reintroduce bill to create 'millionaires surtax'
By Naomi Jagoda - 06/10/21 04:14 PM EDT

A group of Democrats on Thursday reintroduced legislation to create a "millionaires surtax," after ProPublica earlier this week published a report detailing the taxes of some of the richest Americans.

The bill would create a 10 percentage point surtax tax for income above $1 million for individuals and $2 million for married couples. The surtax would apply both to wage income and investment income.

“Right now, everyday Americans are shouldering our nation’s tax burdens, while many of the very richest skate by without paying their fair share. This is fundamentally backwards – and creates a growing opportunity gap that is harder and harder for American families to overcome," Sen. Chris Van Hollen (D-Md.), an author of the bill, said in a news release. "It’s time to right this wrong."

The reintroduction of the legislation comes after ProPublica published a report that found that some U.S. billionaires, such as Jeff Bezos and Elon Musk, had some years where they paid little-to-no federal income taxes. The report has reignited calls from Democrats to increase taxes on the wealthy.

The bill's reintroduction also comes as lawmakers are debating how to pay for infrastructure spending. Biden has said that he wants to pay for his spending proposals through higher taxes on corporations and high-income households, but Republicans are opposed to reversing the tax cuts they enacted in 2017.

Support the USO
Democrat Party...the Party of Infanticide

I have come to the conclusion that one useless man is a disgrace, that two become a lawfirm & that three or more become a congress." -John Adams

Offline Sled Dog

  • The Ultimate Weapon: Freedom - I Won't
  • Hero Member
  • ****
  • Posts: 3,138
Re: Democrats reintroduce bill to create 'millionaires surtax'
« Reply #1 on: June 10, 2021, 09:20:06 PM »
Rodents are desperate to repeal the $10K cap on state and local deductions.   This is forcing rich Rodents to flee overtaxed states like CA, NY and NJ.
The GOP is not the party leadership.  The GOP is the party MEMBERSHIP.   The members need to kick the leaders out if they leaders are going the wrong way.  No coddling allowed.

Offline mountaineer

  • C'mon man, you know, the thing.
  • Hero Member
  • *****
  • Posts: 55,908
"A man's rights rest in three boxes: the ballot box, the jury box, and the cartridge box" - Fredrick Douglass

Online GtHawk

  • Hero Member
  • ****
  • Posts: 8,671
  • Gender: Male
  • I don't believe in if anymore, if's an illusion.
Re: Democrats reintroduce bill to create 'millionaires surtax'
« Reply #3 on: June 11, 2021, 12:39:02 PM »
 :pondering: I wonder what the dims have hidden away in it to exempt their millionaires from this surtax?

RIP Rocky 7/5/2008 - 7/24/2020
You Have Earned Your Rest My Friend

Sometimes life just sucks

Offline christian

  • Hero Member
  • ****
  • Posts: 2,124
Re: Democrats reintroduce bill to create 'millionaires surtax'
« Reply #4 on: June 11, 2021, 01:42:30 PM »
As politicians of D.C. are nearly all millionaires, care to wager on democrats exempting themselves from the legislation they are posturing they want passed on millionaires?