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Senate Democrats Propose the Rich Pay for Jobs Bill

Posted on Oct 5, 2011
Harry Reid

Senate Majority Leader Harry Reid

Democratic leaders in the Senate proposed Wednesday that Americans who make more than $1 million a year should be charged a 5 percent surtax to pay for President Obama’s jobs bill.

The surtax, which would also impact dividends and capital gains, could bring in enough in 10 years to cover the $447 billion cost of the job creation bill, and would take the place of Obama’s earlier proposal to end a range of tax deductions for the wealthy that are already in place.

An aide to Sen. Charles Schumer of New York said the measure, if agreed to as it stands, would be permanent and could take effect as early as Jan. 1, 2012. —BF

The Wall Street Journal:

Democratic leaders said they hoped to bring the revised plan to the Senate floor next week for debate. But assuming they keep all of their votes, they would need at least seven Republicans to vote in favor of any effort just to start debate on the legislation.

It’s also not clear that the changes would win over all the Democrats who have been opposed to the package. Sen. Joe Manchin (D., W.V.) has voiced objections to the spending portion of the bill, so changing how it is paid for would be unlikely to sway him. Sen. Ben Nelson (D., Neb.) has repeatedly said he would oppose any tax increases given the current economic malaise.

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By Gil, October 6, 2011 at 6:57 am Link to this comment
(Unregistered commenter)

But as we’ve seen steadily for many, many years, the Democrats won’t stick by
any principles.  They, like Obama, always cave.  In short, there is no “party,” the
masses are not represented at all in this government.  And it’s their own fault. 
It’s their laziness and their ignorance about social events, politics, and
government that has brought on these conditions.  We have only one political
party in this country, different names don’t mean a thing.  Our politicians,
almost every one of them, form the Wealthy Party.  The masses have long ago
lost out.  And it’s their own fault.  They do the hiring of the non-
representatives.  Worse, they rehire them term after term.  You are seeing a
small, dying gasp for air in these Wall St. demonstrations, but this country is in
its death throes, from within even more than from without, and that is because
we are not true to anything we claim, least of all democracy.  Then we have the
audacity to dare to claim we are going to march around the world, drone our
way around the world, to build democratic governments?  Who asked us to do
that?  Who gave us the right to do that?  This is nothing but a resurgence of
colonialism, and in colonialism, the wealthy always dominate the masses, using
them to increase their wealth and comfort.

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By gstoddard, October 5, 2011 at 8:43 pm Link to this comment

The image you chose of Harry Reid sitting in Washington with an artificial smile
on his face says it all.  He is happy because he is promoting another simplistic
“solution” to the complex and potentially catastrophic economic problem we are
facing. It means that there will be no serious discussion of our failing economy
and democracy, instead the media and the politicians have more fodder for the
Sunday Talk Shows and talk radio while the left and the right continue their
fruitless arguments.

Can’t anyone in Washington get the message? There are millions of people in
our nation feeling genuine pain and Washington sits before our monuments
and smiles at us because the political games are continuing. Outrageous.

I know it can’t happen, but I wonder if the Washington minds would find a little
creative inspiration if Congressional salaries were decreased 10% in each month
that passed without serious policy changes being enacted?

I would be on the streets in New York if I lived there.

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By Morpheus, October 5, 2011 at 5:42 pm Link to this comment

Democrats are too weak. We have a total lack of leadership.

Memo to America: Stop waiting for Democrats and Republicans to save you. It’s bad
for your health and your future. Can’t you tell?

Read “Common Sense 3.1” at ( )

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