Just when you thought the Democrats could not get any wimpier, Charles Schumer comes to the rescue! Senator Schumer wants to compromise on the letting the Bush Tax Cuts to the rich stick! Just listen below to his puny logic! Meanwhile FoxNews doesn’t even accept his compromise!
Senator Schumer’s logic is beyond me. Listen to him above, like he is on the side of the middle class. Just another wimp for Obama!
He wants to only increase the taxes on those who make over one million per year. He then labels these people as “millionaires”.
No Senator Schumer a millionaire is one whose portfolio is worth at least a million. Thus they could be making $500,000 per year. True I have more sympathy for these types. Hell I know some personally! They became millionaires by earning large amounts of money then saving it to “eventually” become millionaires!
Senator Schumer seems to define a “millionaire” as one who “EARNS one million or more per year”! Thus someone who earns half a million per year for ten years is exempt from the “Schumer standard”. I disagree!
My Bush Tax Cut Proposal:
- We still will not reduce a person’s wealth only their “increase in wealth”.
- If they have a portfolio less than one million but they earn over 250K they will see a very modest increase in taxes! Let them save to become millionaires. That is fine.
- If their portfolio is worth at least one million but their earnings are in the 250K – 999K range then they should be taxed higher.
- If their portfolio is worth one million and they earn over one million per year then they should be taxed at a level before not only the the Bush Tax Cuts but prior to the Reagan Tax Cuts!
- The value of their first home is not to be counted but excused in their net worth!
- By the way! How come we cannot go back to a progressive income tax of 91%! It does a country good! You know like back in the good ole days of Republican President Dwight Eisenhower!
I believe that is damn fair in these hard times. Besides unless I see a cure for cancer, heart disease or aids then no one “really deserves” to earn over a million anyway! This cannot be emphasized enough!
If you are middle class AND have self respect then you have every right to question and desire a cap on someone earning more than four times your annual salary. Why not give corporate executives a round of applause and social recognition instead? No? How about getting up at 4AM to go to work as I do! That is if you are lucky to have a job!
The time has come to stop comforting the comfortable Senator Schumer. Forget about your Wall Street campaign contributions and worry about the middle class! You know “Joe and Eileen”! (reference to Senator Schumer’s book)
- Republican support lacking for Schumer tax idea-W.House (reuters.com)
- Congress Skeptical About Obama’s Tax Cut Summit, Schumer’s $1 Million Proposal (huffingtonpost.com)