This isn’t a cave, come on. Raising the tax rate on people making more than $1 million a year means nothing, and that’s why Obama will reject it. The number of people who make a “salary” that high could probably fit inside a convention center ballroom somewhere. Entertainers and athletes basically. Everyone else who makes that kind of money can easily shift more of their income to dividends and capital gains, etc., so they’re not going to be paying any more in taxes.
I see this as a shrewd move by Boehner to expose the fact that Obama is not really looking to target the “millionaires and billionaires”. He’ll be protecting them, because they contribute to his and other Democrats’ campaigns. Obama wants to target the small business owners, and highly successful professionals who do make between $250K and $1 mil. They are the people who would actually get caught with a higher tax rate, not those making over $1 mil.
That makes two of us!
“This isnt a cave, come on. Raising the tax rate on people making more than $1 million a year means nothing”
Of course you must be remembering that when FDR started Social Security with 53,000 recipients in its first year it would never go up, right.
PS - there are now 60,000,000 beneficiaries