Dems Buck Obama on Tax Cuts, Say $250K Too Low
Tax debate, election year politics, divide party
By Kevin Spak, Newser User
Posted Jul 10, 2012 7:50 AM CDT
Virginia Democratic Senate candidate, former Gov. Tim Kaine addresses the Northern Virginia Technology Council's Tech Town Hall in Reston, Va., Thursday, June 28, 2012.   (AP Photo/Cliff Owen)

(Newser) – Critics are lining up against President Obama's push to let the Bush tax cuts expire for the top 2% of earners—and that's just in his own party. Democrats facing elections this fall are breaking with the president, arguing that Obama's proposed $250,000 threshold is too low, Politico reports. Congressional Democrats have been focusing on raising taxes for those earning more than $1 million, and now some, like Florida Sen. Bill Nelson and North Dakota Senate candidate Heidi Heitkamp, say that's still the right move.

The so-called "millionaire's tax," Steny Hoyer explained, would "be a metaphor for how our Republican colleagues won't support increasing revenues on any person in America, no matter how much they make." Virginia Senate candidate Tim Kaine, meanwhile, is pushing for a $500,000 threshold, which some are signing on to. That's not to say Obama is without allies: Harry Reid and Nancy Pelosi have formally supported his plan, as have several others, including former holdout Charles Schumer.

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Showing 3 of 78 comments
buzzdbr
Jul 10, 2012 4:11 PM CDT
So by extending the tax cut for some, Obama has admitted that they do work. So if it does result economic improvement, does that mean Bush gets some credit? I doubt it. Even some in the Dem. party say it should be a higher cut-off. Which being a politician trying to get re-elected means, dont piss of the voters.
LarryG
Jul 10, 2012 2:26 PM CDT
what has Obama done that incresed spending??? start 2 wars unnecessarily? those wars are killing us financially along with killing over 4000 troops and ruining lives of thousands who have been maimed and need lifetime care,,,,anybody find that Halliburton money yet? why are you Pubic Hair Teabagging jackoffs crying now about the debt when you didnt give a rats ass when goofball W was in office? You tards just cant stand that a black man is President!!!!
TheProducer
Jul 10, 2012 12:17 PM CDT
if you are making 250k a year and have money problems, that's a YOU problem not a tax problem. learn to manage your money and live within your means.