Dems Propose Taxes for New VA Benefits

[unhappycamper]

Dems Propose Taxes for New VA Benefits
May 14, 2008
Associated Press

WASHINGTON - House Democrats are proposing a tax surcharge on millionaires to pay for a big increase in education benefits for veterans of the war in Iraq, lawmakers said May 13.

The plan, if accepted by rank-and-file Democrats, would clear the way for a vote May 15 on a long-stalled war funding bill that would pay for military and diplomatic operations in Iraq and Afghanistan into next spring.

Conservative "Blue Dog" Democrats blocked a vote last week over Democratic leaders' attempts to add an additional $51.8 billion over the next decade for veterans education to the $183.8 billion war funding tab. They insisted on finding a way to pay for the new benefit without simply adding to the deficit.

"What we're talking about is a one-half percent income tax surcharge on incomes above $1 million," said Rep. Mike Ross, D-Ark., a leader of the Blue Dog group. "So someone who earns $2 million a year would pay $5,000. ... They're not going to miss it."

The $1 million income level would apply to couples. Individuals would pay the surcharge on income exceeding $500,000.


Rest of article at: http://www.military.com/news/article/dems-propose-taxes-for-new-va-benefits.html?col=1186032310810

[midnight]

1. Bring it on.......