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Reid: ‘Even the tea party’ supports 5 percent tax increase on millionaires
Yahoo ^ | 10/05/11 | Nicholas Ballasy

Posted on 10/05/2011 12:10:45 PM PDT by Libloather

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To: Libloather

The Reid tax on millionaires will raise about $20 billion.

$20 BLLION.

That will pay for less than half a day’s spending by the democrats. Ten Solyndras.

They increased our debt by $162 billion in the past 3 days alone:

Total US Debt Update: $14.86 Trillion; $162 Billion Increase In Three Days; 98.9% Debt/GDP
http://www.zerohedge.com/news/total-us-debt-update-1486-trillion-162-billion-increase-three-days

So go ahead Harry, pass your pisser surtax. Then what? Pass another? And another?


41 posted on 10/05/2011 8:13:48 PM PDT by silverleaf (Common sense is not so common - Voltaire)
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To: Libloather

Harry Reid; Lies like rug.


42 posted on 10/05/2011 8:16:57 PM PDT by Harmless Teddy Bear (*Philosophy lesson 117-22b: Anyone who demands to be respected is undeserving of it.*)
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To: jonrick46

$20 Billion

as reported tonight by Harvard economist appearing with Cavuto on Fox Business


43 posted on 10/05/2011 8:17:11 PM PDT by silverleaf (Common sense is not so common - Voltaire)
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To: Libloather

Oh, five percent! I thought it was five cents.

Nah, I can’t support that.


44 posted on 10/05/2011 8:19:22 PM PDT by ROCKLOBSTER ( Celebrate Republicans Freed the Slaves Month.)
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To: choctaw man

I was going to say, what was he smoking?


45 posted on 10/05/2011 8:41:08 PM PDT by Grey Eagle
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To: Libloather

46 posted on 10/05/2011 8:49:36 PM PDT by Manic_Episode (Some mornings, it's just not worth chewing through the leather straps...)
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Lets cut government spending Harry. Lets start with the Congressional Pension Program by eliminating it entirely. Then we won’t need term limits :>}


47 posted on 10/05/2011 9:00:47 PM PDT by cva66snipe (Two Choices left for U.S. One Nation Under GOD or One Nation Under Judgment? Which one say ye?)
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To: Libloather

Based on the job he’s doing for the Nevada economy, Reid has less than zero credibility when speaking about the Tea Party.


48 posted on 10/05/2011 10:42:44 PM PDT by Post Toasties (Leftists give insanity a bad name.)
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To: jonrick46
It would be interesting to know how much additional revenue this 5% surcharge would bring in. Has anyone done the calculations?

I think it would come out to no more than $10 - 20 billion. Negligible compared to the drunken sailor deficit spending of the Democrat Federal Government.

49 posted on 10/05/2011 10:48:30 PM PDT by Post Toasties (Leftists give insanity a bad name.)
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To: Post Toasties

Democrats who are talking about millionaire taxes such as Reid are trying to divert discussion from cutting spending, where the real problem is. There is no way a millionaire tax can make a significant dent on the deficit.


50 posted on 10/05/2011 10:59:26 PM PDT by Post Toasties (Leftists give insanity a bad name.)
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To: silverleaf

So $20 billion is going to pay for the $447 billion in the jobs bill? Zer0’s jobs bill is not only bad math, it is a way to deliver more money to more union workers. With more union workers, the unions will have more workers to indoctrinate and money in their political coffers to spread that propaganda to the electorate.

At the same time, with 5% extracted from the high wage earners, that is less money they can use for investing in new workers and the workers needed to build the physical plant needed for expansion.

A worker can have money in his pocket for consumer goods. However, being able to use that money for business ventures is not going to happen. Only the rich are in that position. When the rich are hamstrung with increased costs from regulations, taxes, fuel costs and infrastructure problems, their unique position in the economic system is undermined.

I hope the American people are smart enough to think this through.


51 posted on 10/05/2011 11:06:57 PM PDT by jonrick46 (2012 can't come soon enough.)
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To: Post Toasties

See my post #51. Thank you.


52 posted on 10/05/2011 11:13:05 PM PDT by jonrick46 (2012 can't come soon enough.)
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