It's Just Math: CBO Says Millionaire Surcharge Can Pay For ALL of Obama Jobs Package

[marmar]

from the Working Life blog:



It's Just Math: CBO Says Millionaire Surcharge Can Pay For ALL of Obama Jobs Package

by Jonathan Tasini
Saturday 08 of October, 2011


There is an incredible easy equation to make--both morally and financially. The one percent broke it now they need to fix it. And it all adds up, according to the Congressional Budget Office.

The math:

The Democrats' proposed tax on millionaires would raise an estimated $453 billion, more than enough to pay for President Obama's jobs bill.

That's the latest from the Congressional Budget Office, which on Friday released its cost and revenue estimates for the American Jobs Act of 2011.

The chances that the surtax on the millionaires will pass is pretty slim, given the Tea Party House leadership. But, as a political matter, it is a strong idea to push.

Let's be absolutely clear. The economic crisis we are in is precisely because of the behavior of a large number (not all) of those people who live in the 392,000 households, or 0.2% of households, who would pay the surtax. ...............(more)

The complete piece is at: http://www.workinglife.org/blogs/view_post.php?content_id=15311

[annabanana]

1. Can't get much clearer than that.. . . . POUND the message.

Should be talking point #1.

[liberal N proud]

2. So what is stopping them from passing it?

The Millionaire congressmen!

[closeupready]

5. There we go!!! 2 + 2 = 4.

+1000.

[Richardo]

3. Now THERE'S how they could honestly claim to be job-creators.

:patriot:

[leftstreet]

4. Why are the Democrats proposing Tax the Rich now when they could have let Bush Tax Cuts expire?

:shrug:

[jmowreader]

8. Not this shit again!

The Democrats paid for an extension in unemployment benefits by extending the Bush Tax Cuts.

We have two parties in Washington. We have one that is at least trying to do things for Americans, and one that will let Americans starve to death in the middle of Pennsylvania Avenue if it gets rid of President Obama. That party filibusters everything because they know nothing can possibly pass without at least a couple of Republicans voting in favor of it.

When we actually have enough Democrats in the Senate to make filibustering moot, tell me what wonderful things the Democrats could have done.

[leftstreet]

9. I bet that's what the 99ers said

I bet they wondered why the Democrats sold them out

[WillyT]

6. K & R !!!

:kick:

[jmowreader]

7. Here's the scary part of the whole thing

Assume we pass the Obama Jobs Bill and the Millionaire Surcharge. You know what it's going to actually cost millionaires? Nothing.

That's right: This is going to be FREE OF CHARGE to all the millionaires. It will actually make the millionaires richer, but we won't talk about that right now.

We have to look at the real purpose of a job--and it's not what you think. Most of us think a job is to benefit the person who gets it, but that can't be farther from the truth. The REAL reason for a job is to make your employer money. A company with more employees makes more money because they can make more products, warehouse more products, ship more products and SELL more products to more people. That translates directly into profits. Into dividends to the shareholders. And to bigger houses, larger yachts and better golf clubs for the millionaires.

The longest period of sustained growth in this country, the era in which America created more self-made millionaires than any other and also created a thriving working class, was from 1945 to 1965--when the top tax rate on The Rich was at or over 90 percent. Low taxes do NOT guarantee wealth, and high taxes don't stop it. It's time we remembered this.

[libinnyandia]

10. high taxes

the american people are so ignorant of history. They believe so many lies that the GOP have told and the MSM are so lazy that the truth never gets out. I live in a distict that votes for the idiot Steve King and you would think that all the voters are multi-millionaires.