HUFF POST: At a news conference on Thursday, President Barack Obama said he’s “comfortable” with Senate Democrats including a 5.6 percent surtax on millionaires in an amended version of his administration’s plan to boost job creation.
“The approach that the Senate is taking I’m comfortable with,” he said. “In order to deal with the jobs bill, we’re still going to have to reform the tax code to make sure that we’re closing loopholes.”
The Democratic proposal would pay for Obama’s plan by imposing a surtax on taxpayers making more than $1 million. That plan would set a top rate of 40 percent on income above $1 million; the current top rate is 35 percent… (more)
EDITOR: ‘Occupy Wall Street’ and the friendly reaction to it is apparently emboldening the Obama Administration. Meanwhile, the 2% increase may be looking a lot better to Republicans.
