Soak the Rich or Soak the Super Rich?

Dalmia, Shikha
October 2011
Hit & Run;10/16/2011, p15
Blog Entry
The article discusses a proposal from Democratic Senate leader Harry Reid of Nevada for a millionaire surcharge to pay for U.S. President Barack Obama's jobs bill. His plan will have the super-rich people pay an additional 5.6% tax on each dollar of their unadjusted gross income beyond a million which is seen to add 450 billion U.S. dollars into the federal government. It notes how his tax scheme placed those earning 999,999 U.S. dollars among the middle class subject to ordinary tax treatment.


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