Thursday, December 2, 2010

A Tax On Wall Street

I love it when Republicans accidentally tell the truth:
Yesterday, however, Sen. Lamar Alexander (R-TN) undermined the credibility of his party's claims. While speaking on the Senate floor, Alexander said that even though he opposes the proposal, he was "delighted" by Schumer's willingness to target his own constituents for tax increases. "Most of the people whose taxes he's trying to raise live in New York," he said. "I mean, they're not in Tennessee. We're a relatively low income state." Joking that Schumer's plan basically amounts to a "tax earmark," Alexander argued that it would "raise taxes on just a small number of people, most of whom live on Wall Street in New York."
ALEXANDER: I'm delighted to hear the eloquence of the Senator from New York. And as I was listening to him I was reminded that the people — most of the people whose taxes he is trying to raise live in New York. I mean they're not in Tennessee, we're a relatively low income state. So I admire him for his courage on — that's almost a tax earmark, you know, to — to be so specific that we're gonna raise taxes on just a small number of people, most of whom live on Wall Street in New York.
But I thought letting the Bush Tax cuts expire was a tax increase for everyone!

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