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Mon Jan 12, 2015, 12:33 PM

Democrats' Plan Would Benefit Middle Class, Target Rich

Source: Huffington Post/ Rueters

WASHINGTON, Jan 12 (Reuters) - U.S. Democratic congressional leaders plan on Monday to unveil proposed legislation to boost the middle class by giving many families a tax cut that would be countered by a fee on financial transactions and reduced tax benefits for the top 1 percent of earners, the Washington Post reported.

The plan, which Representative Chris Van Hollen of Maryland was to introduce, could create a windfall of about $1.2 trillion over a decade, the newspaper said. As much as $800 billion of that could come from a 0.1 percent fee on stock trades, mostly from high-volume transactions, Van Hollen told the Post.

The legislation calls for a "paycheck bonus" of $1,000 for individuals and $2,000 for married couples, a bonus of $250 for people who save at least $500 a year and reduced "marriage penalties" for couples.


Read more: http://www.huffingtonpost.com/2015/01/12/democrats-middle-class_n_6455140.htmlLink to source



Won't pass , but makes a statement as to what is important. The Republicans will make the case for taxing the rich less, and this tries to tax the rich more.

12 replies, 1619 views

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Response to Stuart G (Original post)

Mon Jan 12, 2015, 12:40 PM

2. Since it's just now being proposed, I can't imagine this is anything more than "making a statement".

n/t

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Response to hughee99 (Reply #2)

Mon Jan 12, 2015, 12:46 PM

3. It may be just a proposal, and this has been discussed before, but it is worth showing the contrast.

A very small tax on the extreme rich, vs help for the middle class. I do not know if this has been introduced in congress as a bill before. I know there has been a discussion of a transaction tax for a while.

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Response to Stuart G (Original post)

Mon Jan 12, 2015, 01:05 PM

4. Ha! As if Boner will put it up for a vote . . .

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Response to Stuart G (Original post)

Mon Jan 12, 2015, 02:19 PM

5. Hey, even if this is just an elections ploy,

it's a damn good one and great for contrasting what the Repugs want to do, cut pensions, cut social security, and pay companies to move jobs overseas.

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Response to Stuart G (Original post)

Mon Jan 12, 2015, 02:39 PM

6. so where was this when dems controlled congress and the white house a few years back? nt

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Response to msongs (Reply #6)

Mon Jan 12, 2015, 04:30 PM

8. Precisely.

It's all theater. And bad theater at that.

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Response to msongs (Reply #6)

Tue Jan 13, 2015, 02:06 PM

12. That's so depressing.

I completely agree with you.

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Response to Stuart G (Original post)

Mon Jan 12, 2015, 04:18 PM

7. NOW, they have a plan?

 

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Response to Stuart G (Original post)

Mon Jan 12, 2015, 04:34 PM

9. Do it!

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Response to Stuart G (Original post)

Mon Jan 12, 2015, 04:41 PM

10. how do tax cuts help the poor and unemployed?

 

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Response to Stuart G (Original post)

Mon Jan 12, 2015, 11:55 PM

11. why is " making a statement" important? The voters know after the debacle of 2009-10

 

that the dc dems won't do anything substantial. Very few will be taken in by this.

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