Proposed "war tax" being considered to end borrowing

November 30, 2009 · Posted in Commentary 

What’s being called the “Share the Sacrifice Act”, is being proposed to end borrowing to pay for the war in Afghanistan. 

House Representatives Dave Obey, the Chairman of the House Appropriations Committee,  John Murtha, the Chairman of the Defense Appropriations Subcommittee, Congressman John Larson, the Chairman of the Democratic Caucus, and eight other Democratic Members introduced the legislation last week that would impose a war surtax beginning in 2011.  

The surtax would start at 1% for anyone with taxable income and increase gradually up the income scale to as much as 5% for the highest-income households.  Members of the military who have served in combat since September 11, 2001 along with their families, and the families of the fallen would be exempt from this surtax.  In the Senate, Carl Levin of Michigan has stated that he would only support a war tax on individuals making in excess of $200,000 per year.

Be Sociable, Share!


One Response to “Proposed "war tax" being considered to end borrowing”

  1. Twitted by dspenc1 on December 2nd, 2009 4:51 am

    […] This post was Twitted by dspenc1 […]

Leave a Reply

You must be logged in to post a comment.

Get Adobe Flash player