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Just The Richest 0.2 Percent Of Households Would Be Affected By The Democrats’ Jobs Bill Surtax

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"Just The Richest 0.2 Percent Of Households Would Be Affected By The Democrats’ Jobs Bill Surtax"

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This month, Senate Republicans (joined by a few conservative Democrats) successfully filibustered both President Obama’s American Jobs Act and $35 billion to help prevent public sector layoffs, using the millionaires’ surtax that Democrats had proposed as justification. “The President should drop his obsession with raising taxes,” said Senate Minority Leader Mitch McConnell (R-KY). But as a new analysis by Citizens for Tax Justice found, just 0.2 percent of households in the country would have been subject to the tax. As the Washington Post’s Greg Sargent put it, “any senators — Democrat or Republican — who vote against the individual pieces of Obama’s jobs bill on the grounds that they impose a new surtax on millionaires is protecting the extremely narrow interests of an extremely tiny minority of their own constituents.”

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