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Senate Dems Float 5% Millionaires' Tax

Instead of the raft of tax changes President Obama proposed

(Newser) - Senate Democrats today proposed a 5% surtax on all income above $1 million as a way to pay for President Obama’s jobs bill—throwing out Obama’s more intricate suggestion for eliminating various tax deductions for the wealthy, oil companies, and other businesses. The surtax would hit all income,... More »

Afghan War May Sock Us With Surtax

House Dems propose 1% war tax

(Newser) - Any change in Afghan strategy that involves spending more money needs to come with a strategy to pay for it, warn House Democrats. Influential committee chairs are calling for a 1% surtax on incomes under $150,000 beginning in 2011 to pay for the war. Their proposed bill would impose... More »

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