In Latest Bout Of Class Warfare, Multi-Millionaire Harry Reid Seeks To Replace Buffett Tax Proposal With 5% Millionaire Surtax

by Tyler Durden
Zero Hedge
Oct. 06, 2011

Confirming that one has to be a billionaire or at least a multi-millionaire to be an applicant for the Tax Czar position under the Teleprompted Wealth Readjuster, is the latest sheer class warfare idiocy out of tax expert du jour Harry Reid, who has proposed an overhaul of the Obama tax bill with one in which millionaires end up paying a 5% surtax.

National Journal reports: “Senate Democrats will replace tax increases proposed by President Obama to pay for his $445 billion jobs bill with a more politically popular tax increase on millionaires, Senate Majority Leader Harry Reid, D-Nev., said on Wednesday.

"When Democrats bring this common-sense jobs legislation to the floor, we'll ask Americans who make more than a million dollars a year to contribute a little more," Reid said in a morning floor speech. He said he hopes to set up a vote on the revamped jobs bill “within the next few days.” That means he will seek action after the Senate passes a China currency bill and before Senate action on three free trade bills. Reid and Democratic aides have said they planned to alter the pay-fors proposed by Obama to win support of Democrats wary of the tax increases.

Reid and other Democrats noted that raising taxes on millionaires polls well, even among GOP voters.” Why yes, Harry, please go ahead and create some more class hatred. You should even bring your agenda down to Wall Street and threaten to occupy Wall Street if your demands are not met. But before you do, please make sure you create a poster which highlights not only how much money you have raised from corporate interests during your career, but specifically how much has come from the “Securities and Interest” industry. We are sure you will fit right in with your sincere populist demands.

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