suplex3000
VIP Member
'Influential Democrats are pushing a new plan to give middle-class Americans a big tax break, but only by imposing a new tax on Wall Street traders and other top earners -- drawing a rebuke from majority Republicans who say the proposal would hurt the economy.
"Our economy is still struggling to create jobs -- and the last thing we need is a new trillion-dollar tax hike added to the current broken tax code," said Michael Steel, spokesman for House Speaker John Boehner.
Rep. Chris Van Hollen, D-Md., unveiled the tax plan on Monday at the Center for American Progress.
His plan would give a tax credit of roughly $2,000 per year to middle-class families, reportedly defined as couples making under $200,000. According to The Washington Post, the windfall would add up to roughly $1.2 trillion over the next decade.
However, to pay for the plan, Van Hollen wants to charge a fee on financial transactions, and curtail tax breaks for other top earners, effectively transferring wealth from Wall Street and beyond to everyone else. '
Dems pitch controversial plan to tax Wall Street to pay for new middle-class credit Fox News
If it was for the middle class they would define it as Couples above the poverty line to 200,000 a year but what I see is another give away to the non tax paying crowd. They may be selling it as middle class support but if it was true "middle class" support the cost would be half what they are stating!!
"Our economy is still struggling to create jobs -- and the last thing we need is a new trillion-dollar tax hike added to the current broken tax code," said Michael Steel, spokesman for House Speaker John Boehner.
Rep. Chris Van Hollen, D-Md., unveiled the tax plan on Monday at the Center for American Progress.
His plan would give a tax credit of roughly $2,000 per year to middle-class families, reportedly defined as couples making under $200,000. According to The Washington Post, the windfall would add up to roughly $1.2 trillion over the next decade.
However, to pay for the plan, Van Hollen wants to charge a fee on financial transactions, and curtail tax breaks for other top earners, effectively transferring wealth from Wall Street and beyond to everyone else. '
Dems pitch controversial plan to tax Wall Street to pay for new middle-class credit Fox News
If it was for the middle class they would define it as Couples above the poverty line to 200,000 a year but what I see is another give away to the non tax paying crowd. They may be selling it as middle class support but if it was true "middle class" support the cost would be half what they are stating!!
