The one-fifth of one percent of taxpayers affected by the Senate Democrats’ proposed millionaire surcharge would pay 2.1 percent of their incomes in higher taxes, on average, under the proposal.
November 2011 Archives
Government spending measures are the best way to reduce unemployment, but if lawmakers insist on using tax policy instead, they should revive the Making Work Pay Credit, as some Senators have discussed recently.
Only 0.3 percent of deaths in the U.S. in 2009 resulted in federal estate tax liability. This provides a rough approximation of the impact that President Obama’s estate tax proposal would have, because the estate tax rules in effect in 2009 are the same rules that President Obama has proposed to make permanent. A more sensible alternative is the estate tax proposal announced yesterday by Congressman Jim McDermott.
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