GOP criticizes Barack Obama’s idea to tax millionaires

ee88002b82d16fc42a8bf43410e94dc4

Republican leaders yesterday went after President Barack Obama’s proposal for a new tax on millionaires, calling it “class warfare” and predicting it will face heavy opposition in Congress.

Obama is expected to propose a “Buffett Tax” today on people making more than $1 million a year as part of his recommendations to a congressional super-committee seeking long-term deficit savings.

Paul Ryan, chairman of the House of Representatives Budget Committee, and Mitch McConnell, Senate Republican leader, said the proposal would limit growth and hurt corporate investment in an already stagnating economy.

“It adds further instability to our system [and] more uncertainty, and it punishes job creation and those people who create jobs,” Ryan said on “Fox News Sunday.” “Class warfare may make for good politics, but it makes for rotten economics.”

McConnell said Congress had already debated the issue last year, when Obama and Republicans forged a compromise that extended the reduced tax rates for high-earners for two years.

“It’s a bad thing to do in the middle of an economic downturn,” McConnell said on NBC’s “Meet the Press.” “There is bipartisan opposition to what the president is recommending already.”



News
Entertainment
Sports
Lifestyle
National

US military tried, but failed to rescue journalist…

The U.S. military earlier this year tried to rescue journalist James Foley and other American hostages held in Syria ,but failed to find the captives.

National

Fate of captured beluga whales in hands of…

A Georgia aquarium went to court on Wednesday seeking federal permission to bring 18 captured beluga whales to the United States from Russia.

Local

After Eric Garner death, religious leaders meet to…

Interfaith leaders convened with city officials to discuss what the community can do to help dial down heightened tensions after Eric Garner's death.

Local

'Suspicious' Hamilton Heights fire caused by power strip:…

An extension cord overload caused the deadly fire in Hamilton Heights late Monday that killed a 15-year-old girl and injured at least 12 others.

Television

'So You Think You Can Dance' recap: Season…

And then there were six. It was a big night on stage as the Top 6 got to dance with each other, All-star partners and perform a solo routine.

Going Out

5 things to do in NYC this weekend…

FILM Lebowski Fest Aug. 22-23, 8 p.m. Various locations, Manhattan $20-$30, www.lebowskifest.com The Dude abides — for 48 hours to celebrate the 1998 Coen brothers classic.…

Television

'Doctor Who' personality profile: the 4 Doctors

When the time comes for a new Doctor, there's always some anxiety over the big question: Who will he be? The series owes its longevity…

Television

Billy Crystal to commemorate late actor Robin Williams…

  Comedian Billy Crystal will pay tribute to late actor Robin Williams at television's Primetime Emmy Awards on Aug. 25, the show's organizers said on…

NFL

Giants expected to work Corey Washington into first-team…

The day of reckoning for the Giants' fringe players will fall upon them Friday night against the Jets.

NFL

Jalen Saunders still unsure what caused car accident…

Jets rookie wide receiver Jalen Saunders spoke to the media Wednesday for the first time since his car accident, but he didn't say a whole lot.

NFL

2014 Fantasy Football: Rankings, list of top NFL…

2014 Fantasy Football: Rankings, list of top NFL defense (DEF)

NFL

2014 Fantasy Football: Rankings, list of top NFL…

2014 Fantasy Football: Rankings, list of top NFL quarterbacks (QB)

Sex

Online dating for every generation

Frank Jackson and his mother Maggie are like lots of modern families: They have dinner together regularly, keep each other updated on their lives —…

Wellbeing

Going green could be the key to getting…

If we could just pursue the things that would actually make us happy, we could help the environment too, according to a New York researcher.…

Wellbeing

Metabolic syndrome could have a sugar link

Scientists in St. Louis may have found another culprit in metabolic syndrome, which can lead to heart disease and type 2 diabetes.  Uric acid is…

Wellbeing

Another way stress hurts your unborn baby

Mothers know to try staying calm during pregnancy, as stress has been linked to behavioral and developmental problems for their babies. But now, a new…