President Barack Obama calls on Congress to pass his $60 billion bill in a bid to provide jobs for millions of construction workers and rebuild America’s crumbling infrastructure.
“If we don’t act now, it could cost America hundreds of billions of dollars and hundreds of thousands of jobs by the end of the decade,” President Obama said.
This bill would be paid for by a tax of .007 on incomes over a million dollars.
So if you do your taxes and your taxable income is less than $1,000,000 (that’s your income after you subtract all your business expenses, deductions etc.) YOU WILL NOT PAY A PENNY MORE.
Now that is 99.8% of us. But on the off chance you are one of the very few who net more than a million dollars per year, what is this horrible burden you’ll have to shoulder?
Income of $1,500,000 per year = $3,500 more. Wow! Can someone taking home a million and a half dollars per year afford this? [sarcasm alert]
But the GOP is all about bailing out the billionaires and giving them tax breaks while the middle class suffers. And we’ve got one of them running for Senator Akaka’s seat. Folks, we’ve got to join together to make sure the Senate doesn’t go the way of the House or we’ll be in a world of hurt.