The Ignorant Investor

Ignorance Can't Stand in the Way of My Opinion

Sunday, September 18, 2011

 

Republicans Praise Obama Tax Plan for Millionaires

Yeah, that's a misleading headline, but how many headlines of "Republicans criticize Obama's plans" do you want to read in a month?   The reality:
WASHINGTON (Reuters) - Republican leaders on Sunday criticized President Barack Obama's proposal for a new tax on millionaires, calling it "class warfare" and predicting it will face heavy opposition in Congress.
Class warfare?  I've got to find a recruiting station, because that's one war I don't mind fighting.  Sign me up for the duration.  However, the republicans are right that this has no chance of making it through Congress.  The idea can't even make it out of a Democratic Senate.  Too many millionaires in the world's most sclerotic deliberative body.    

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