TPMDC Means Testing
Payroll Tax Cut
Dems Drop Details Of Payroll Tax Cut While GOP Signals Early Opposition
Senate Majority Leader Harry Reid (D-NV)
Democratic sources confirm that Harry Reid will try to win GOP support for a new payroll tax holiday by shrinking the size of the overall cut, and offering Republicans a few concessions that they've been pushing for both publicly and behind the scenes.
But their proposal will be partially paid for by a small, temporary income surtax on millionaires, and that will be a tough sell with Republicans, according to a top Republican aide, as the GOP overwhelmingly opposes raising taxes on high-income earners.
PERMALINK | COMMENTS | RECOMMEND RECOMMEND (0)Topics: Barack Obama, Harry Reid, Means Testing, Medicare, Payroll Tax Cut, Super Committee, Tax Cuts, Taxes, Warren Buffett
Tom Coburn
Coburn: End 'Welfare For The Well-Off'
Sen. Tom Coburn (R-OK)
Sen. Tom Coburn (R-OK) thinks it's time America's millionaires pay their fair share.
And in a new report -- titled "Subsidizing the Rich and Famous" -- Coburn makes an argument for closing loopholes for millionaires. "From tax write-offs for gambling losses, vacation homes, and luxury yachts to subsidies for their ranches and estates, the government is subsidizing the lifestyles of the rich and famous," Coburn writes in the report. "This welfare for the well-off -- costing billions of dollars a year -- is being paid for with the taxes of the less fortunate, many who are working two jobs just to make ends meet, and IOUs to be paid off by future generations."
PERMALINK | COMMENTS | RECOMMEND RECOMMEND (0)Topics: Means Testing, Tom Coburn, Welfare
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