american jobs act to a vote in the senate after having rewritten the tax provisions in the bill that pay for it. the bill should now be called the american jobs and tax justice act because what harry reid has written into the bill is a more progressive and more fairly targeted tax proposal than what the white house had proposed to pay for the bill. where the president offered a small collection of tax proposals aimed at some corporations and individuals with incomes over $200,000. harry reid narrowed the focus to one tax proposal for people with net taxable incomes over $1 million. the reid proposal adds a 5.6% surtax on all income above $1 million, including, this is very important, it includes capital gains income which is taxed at a much lower rate than ordinary income. it is a sensible and practical attempt to close the gap between
the senate after having rewritten the tax provisions in the bill that pay for it. the bill should now be called the american jobs and tax justice act because what harry reid has written into the bill is a more progressive and more fairly targeted tax proposal than what the white house had proposed to pay for the bill. where the president offered a small collection of tax proposals aimed at some corporations and individuals with incomes over $200,000. harry reid narrowed the focus to one tax proposal for people with net taxable incomes over $1 million. the reid proposal adds a 5.6% surtax on all income above $1 million, including, this is very important, it includes capital gains income which is taxed at a much lower rate than ordinary income. it is a sensible and practical
rewritten the tax provisions in the bill that pay for it. the bill should now be called the american jobs and tax justice act because what harry reid has written into the bill is a more progressive and more fairly targeted tax proposal than what the white house had proposed to pay for the bill. where the president offered a small collection of tax proposals aimed at some corporations and individuals with incomes over $200,000. harry reid narrowed the focus to one tax proposal for people with net taxable incomes over $1 million. the reid proposal adds a 5.6% surtax on all income above $1 million, including, this is very important, it includes capital gains income which is taxed at a much lower rate than ordinary income. it is a sensible and practical attempt to close the gap between
taxes would come here if we just treated it like any other ordinary american business. john: it always pustles me that puzzles me that the states, the politicians have said we don t want to encourage this. gambling hurts people but they run lotteries which offer terrible odds. that is definitely an example of sort of cognitive dissidents. they are the biggest perpetuators of gambling. the states don t want competition to gambling monopolies. on the wall street journal you said these should be on the table along with spending cuts if we are to break free of the rhetorical shackles that prevent cutting the deficit. so, he did say along with spending cuts so what would you cut? you are going to tell me in the second part of your program. john: that s what i would cut. what would you cut. the reid proposal, the boehner proposal, everything obama talked about, we are
and senator reid. it s time for them to tell us what they are for. time to tell us how they are going to get us out of the cul-de-sac they have given our country in to. we are hoping we will hear from them soon about their plan for how we end this crisis. i don t want to linger too long on the spectacle going on in the senate but it s worth noting you have the majority refusing to accept a vote on their own proposal. we know the reid proposal will not pass the senate. we know it will not pass the house. my view is we ought to end that charade and get serious. in that category i have spoken to the president and vice president within the last hour. we are now fully engaged the speaker and i with one person in