Sunday, December 11, 2011 at 11:55AM
Drew Wolfe

GOP Objects To 'Millionaires Surtax'; Millionaires We Found? Not So Much

"For the second week in a row, the Senate on Thursday voted down proposals to extend the payroll tax holiday through next year. In the case of the Democrats' proposal, Republicans objected to the "millionaires surtax" that would be used to pay for it."

"Ever since the idea of the surtax was introduced weeks ago, Republicans in Congress have railed against it, arguing that it is a direct hit on small-business owners and other job creators."

"The argument is that many small-business owners report company profits on their individual taxes because of the way their businesses are structured. Sen. John Thune, R-S.D., says the surtax would hurt their ability to hire."

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