Facebook
Fark
Digg
Reddit
StumbleHarry Reid, citing Romney case, says fixing tax code ‘has become an emergency’
ASSOCIATED PRESS
Senate Majority Leader Harry Reid of Nevada gestures Wednesday, Jan. 25, 2012, as he talks about the political strategy laid out by President Barack Obama in his State of the Union speech. From left are Sen. Patty Murray, D-Wash., Reid, Sen. Charles Schumer, D-N.Y., and Senate Majority Whip Richard Durbin of Ill.
Wednesday, Jan. 25, 2012 | 3:27 p.m.
Former Massachusetts Gov. Mitt Romney smiles during an interview in Las Vegas Monday, Oct. 17, 2011.
Sun Topics
WASHINGTON — White House advisers insisted that President Barack Obama’s State of the Union address Tuesday night was not an attempt to answer his critics or draw distinctions between himself and the Republican candidates trying to unseat him in 2012.
But lines between politics and policy these days are pretty mushy, and Wednesday morning, Democratic Senate leaders said that the Republican presidential candidates are precisely why there’s urgency behind moving some of the president’s policy proposals — especially the ones that have to do with taxation.
“The Republican presidential front-runner is a perfect example of what’s wrong with the tax code,” Sen. Harry Reid said. “An individual who makes $43 million and pays a tax rate of 15 percent suggests that maybe things need to be changed a little bit.”
In his speech, the president defined the so-called Buffett rule, named after the billionaire who came out last year to say the rich ought to be paying more in taxes, as such: Anyone earning over a million dollars ought to have at least a 30 percent tax rate.
Democrats have been trying for months to embrace the spirit of the Buffett rule, which they define as getting millionaires and billionaires to “pay their fair share.” They tried to work it into the debt ceiling and deficit reduction agreement this summer. They tried to weave it in as surtaxes to off-set the cost of pieces of the president’s jobs bill.
It hasn’t yet worked — so why would it now?
When asked Wednesday morning, Reid gave one reason: Mitt Romney.
“All you have to do is look at the former governor of Massachusetts’ tax return — and that’s why this has become an emergency,” Reid said. “Too many families in Nevada and across the country wake up every morning wondering why the opportunities for them and their children are so scarce. Then they look at the top 1 percent and find that they have a tax rate lower than what they pay.
“The system seems to be rigged in their favor ... it’s only fair to ask why people making millions shouldn’t pay their fair share.”
Sen. Charles Schumer, appearing with Reid, warned reporters “don’t be surprised” if Republicans started cooperating more with Democrats’ proposals because of election-year pressure.
It’s a taste of what’s sure to come from Democrats if Romney wins the Republican nomination. He’s currently battling it out with former House Speaker Newt Gingrich in Florida; the caucus contest then comes to Nevada on Feb. 4.
This week, though, it’s still about the State of the Union, as Obama takes his message on the road. He’ll be talking about energy in Las Vegas Thursday morning.
But there’s a warm-up act today: Housing Secretary Shaun Donovan will be appearing in Las Vegas Wednesday afternoon to talk about consumer credit counseling. It’s all leading up to a housing bill the president said he’ll be transmitting to Congress soon.
The plan “gives every responsible homeowner the chance to save about $3,000 a year on their mortgage ... no more red tape, no more runaround from the banks,” in his speech Tuesday night.
Reid didn’t give any more details about the forming plan Wednesday morning, nor indicate what he planned to do with the bill once he received it from the White House. But he said he was looking forward to the results of Donovan’s visit, which includes meetings that Reid helped set up.
“I’m tremendously interested (to see the bill),” Reid said Wednesday, adding that he’s spoken to Donovan several times in the past few days. “I told him that I hope something is coming very quickly.”
Discussion: 17 comments so far…
Comments are moderated by Las Vegas Sun editors. Our goal is not to limit the discussion, but rather to elevate it. Comments should be relevant and contain no abusive language. Comments that are off-topic, vulgar, profane or include personal attacks will be removed. Full comments policy. Additionally, we now display comments from trusted commenters by default. Those wishing to become a trusted commenter need to verify their identity or sign in with Facebook Connect to tie their Facebook account to their Las Vegas Sun account. For more on this change, read our story about how it works and why we did it.
Only trusted comments are displayed on this page. Untrusted comments have expired from this story.
Post a comment
Most Popular
- Viewed
- Discussed
- E-mailed
- Three dreams come true for Flamingo headliner Marie Osmond
- MGM results improve on Las Vegas Strip spending, China growth
- Federal agents join probe into fire at site of future Islamic funeral home
- Strip Scribbles: Shania Twain in town planning Caesars Palace residency
- Judge tosses out suit challenging motorcycle helmet law enforcement
- 15-month-old toddler tests positive for hallucinogenic drug
- Construction project — possibly for a mosque — damaged by fire
- Henderson man pleads guilty to kidnapping 7-year-old girl
- Mother left 3-year-old twins, 5-year-old alone prior to fire, Metro Police charge
- Highs to hit low 70s in Las Vegas
Blogs
The Kats Report
Post it: House of Blues tuning up for a Santana residency
In pursuing a tribute to Frank Sinatra, Robert Davi is no bad actor
High School Sports Scene
High School Basketball State Championship Picks
The Kats Report
Oscar Goodman goes Shecky as Mob Museum opening prompts a mob scene (2 Comments)
Elsewhere
MGM Resorts, Ameristar form marketing alliance to draw visitors
High School Sports Scene
High School Hoops Picks: Updated with Friday's regional finals (3 Comments)
The Kats Report
What a Whitney Houston residency in Las Vegas might have looked like (5 Comments)
The Sun
Locally owned and independent for more than 50 years.
I think I'm going to puke.
Don't let Harry Reid sound like a champion for tax reform, he has been in office for over 26 years and has enjoyed the tax codes of this nation. Reid has made million by being in public office, Romney made his millions in private business. Reid defers much of his wealth among family members but he probably is within the 15% tax rate like Romney. Reid and Obama has made being rich an issue, but they failed to mention themselves in the same breath. The tax codes are what they are, very few abuse the code, but the fact remains, 50% of Americans paid income taxes last year, that in itself is a travesty, everyone should pay their fair share.
Of course Reid didn't give details. because they have no plan other than "Spend, Spend, Spend" They have no clue or desire to come up with a way to pay for all this spending.
And talk about tax on income... What was Harry's 2011 income?? and what did he pay?? Not Much.
If Reid spent as much time trying to reform tax code as he has on amnesty for illegals, he may have accomplished something.
Harry Reid, when asked about where his wealth came from, has said that he has made wise investments. This implies that much of his income is from capital gains and therefore he pays only 15% on that money, too.
Anything more I would say about Reid should be deleted by the moderators.
I pay TWICE the tax rate Romney does. Go figure.
All of a sudden it's an emergency?
Reid is so predictable.
Boo boo boo boo Harryito Reid.
I was raised to be an honest and upfront person but there is just something about the word politician that raises my ire. Deception and thievery (sic?) should be their claim to fame and they should announce it everywhere they go in easy to understand terminology. I don't care which politician it is and how they set up the dramas to distract the people but when the average citizen can see through the garbage something is seriously wrong. Why are members of Congress exempt from the same laws they impose on the people? I understand why they were exempt 200 years ago, "...while in session..." but how is it they have twisted those words into some kind of immunity?
They make the laws the people must follow and they create the departments that enforce those laws but when it comes time for them to do simple things such as disclose their net worth it has to be "requested" and/or demanded by an outside source. If I did not disclose my full net worth and earnings I may not get caught but to flagrantly flaunt the fact they do not need to report "ALL" of their income or net worth to the public makes no sense.
This raises another question. If they are our representatives, why do we not have access to them? I am still young but have had the pleasure of meeting several of my representatives through the years but Nevada seems to be a different creature when it comes time for our representatives to meet with the public at large and answer questions such as those provided to the media in advance of a staged interview.
I give credit where credit is due and the folks at Harry Reid's office actually answer the phone and return calls within a few weeks/months but I am disgusted I am denied access to my representatives. When I asked to see Mr. Reid in person I was advised, "That's not going to happen." I have also contacted the offices of Mr. Heck and Mr. Heller but those folks don't even return phone calls.
Kudos again to Harry Reid's office for fielding calls but we need to make a few changes wherein we can talk to our representatives in person. Yes, votes in Congress happen every day but with today's technology there is no excuse for not spending time in their home state talking to the people.
Harry wishes he made Mitt's money. That kind of earned income is the best qualification for President.
Polling on last night's speech and the President's new plans for taxes, etc. is off the hook. President Obama is scoring in the high 80s and 90s.
------------------------------------------------
Care to source those so-called polls?
Does anyone else find it odd that if the "N" word is used the comment is censored but if a poster calls someone a sexual deviant (Tea Bagger) that is perfectly acceptable?
Just the other day the media made a big stink about the Alabama footbal fan who teabagged an LSU fan and was caught on video. I couldn't give a rats behind what a person calls me but why is it the media is so one sided? Is it selective freedom of speech?
Congress determines the tax code & has created all the loop holes & special favors, and Harry's been in Congress a loooong time. Seems to me he's a big part of the problem, not the answer.
I guess Harry wants to be a Socialist like BO...
Maybe if Reid had focused on the effect the tax code has on outsourcing of jobs instead of giving a gift to health insurance companies in the guise of healthcare reform it would not be an "emergency" today.
I note the people here bad-mouthing The President and Senator Reid can only make insinuations and bogus innuendo in their talking points.
Oh, I'm sorry, the Tbaggers frown upon facts in this establishment. LOL
So why is Warren Buffet's office secretary upset since she makes over $200k.
Actually Obama lied when he said Buffet paid less taxes then her. Buffet actual thousands of times more.
At punitive tax rates, the rich will choose not to put their money at risk. Enjoy the high unemployment, lo-no growth economy, fleebaggers.
Just like GOPReallySux sees, I too see the right wing commenters are in full gear right now. The funny thing that I have noticed all the time is that anytime a picture of Senator Reid pops up in an article or he is quoted, THEY GO INTO A HYPER BALLISTIC NUCLEAR MELTDOWN RAGE! It's like it don't matter what he says. All the attacks don't even add up. All fabrications. C'mon, right wingers. Knock off the Obama/Reid/Pelosi triumvirate cabal of impending doom stuff that makes no sense.
The simple fact is that Mr. Romney, since releasing his taxes, is now making it harder for ALL Tea/Republicans to run interference for the filthy rich anymore.
No more tax breaks. No more tax subsidies. Fair share. Step down, Mr. and Mrs. Filthy Rich, and live like I do.
You do it to us and it's a sign of the times, it's someone being successful and you're just envious, why you picking on the rich all the time, we're the "job creators," blah blah blah. The rhetoric simply don't match the reality.
But when the so called unwashed masses talk about the inequalities of the tax system, pointing them out in explicit details, all of a sudden it's class warfare.
So be it.
Class warfare, baby.
The next election we smack all the Tea/Republicans out the way with our votes. No more of this run interference for them. The Tea/Republican Party, en masse, stands for them, not only constantly, BUT ALL THE TIME.
That makes that whole stupid party irrelevant to America.
We're coming after you, filthy rich. With our votes.
It's time to fix this thing called America by getting people into power that you can't buy off.
It's about time people start taking over this country and not politicians with notions that run contrary to what they get elected into office to do. The Tea/Republican Party practices only neo-conservatism. Not even a shadow of their former greatness.
I hope the American people wake up and they get absolutely crushed in the November 2012 elections. On all levels.
@lepper - sure I know you right wingers are educationally-challenged - you can't even use Google so I'll do it for you but I refuse to teach you how to tie your shoes. That one goes to your mommy.
Here's the link tea bagger - start spinning your head off the news is BAD for you haters of freedom.
-----------------------------------------------
Sorry to disappoint you, but I'm not a "teabagger." In fact, I'm not even a Republican. And yes, I do know how to use Google, but I also know that people tend to make up statistics on the Internet.
Thus, while I thank you for providing your source, I'd also point out that the results aren't necessarily telling, given that the article itself admits that the results are based on heavy oversampling of Democrats.
I agree with President Obama. If you are fortunate enough to make over one million dollars per year, you should pay a Tax Rate of 30% without any deductions. If you made over 10 million I would set it even higher.
This upper class has maneuvered the Tax Code to their advantage and raided the treasury, they really need to pay a Fair Share. 400 Families now have the same total wealth as 150 Million Americans.
Harry prefered to make his money the old fashioned way---RE deals and zoning law changes via the politically connected
<<That kind of earned income is the best qualification for President\>>
You gotta be kidding!!!! You want someone as President who hides things??? He closed his Swiss bank accounts just before he decided to run for President. What does that tell you???? Romney is sinking and sinking fast. Oh, he also didn't EARN his money. Sure, most of these guys got wealthy because of investments, but most are coming clean with how they got this money and are producing tax returns for MORE than just ONE year.
<<Just like GOPReallySux sees, I too see the right wing commenters are in full gear right now. The funny thing that I have noticed all the time is that anytime a picture of Senator Reid pops up in an article or he is quoted, THEY GO INTO A HYPER BALLISTIC NUCLEAR MELTDOWN RAGE! It's like it don't matter what he says. All the attacks don't even add up. All fabrications. C'mon, right wingers. Knock off the Obama/Reid/Pelosi triumvirate cabal of impending doom stuff that makes no sense>>
Amen, Brother.
Now here is a comment from Gingrich (and if you google this, it is mentioned in many publications and NOT the National Enquirer, the Globe or Star magazines):
"By the end of my second term, we will have a permanent colony on the moon and it will be American," Gingrich said"
Now HERE is a guy that should win the Presidency!! At first I thought he was kidding, but he was NOT!! Yeah - a lunar colony. Good way to scale down big government.
Has anyone done the math as to how many "normal" taxpayers it takes to equal the $6 million Romney paid last year to the Treasury Dept?
How many people does Romney hire to do yard service, fix his cars, boats etc.
Instead of lambasting the guy we should pat him on the back for doing a good job.
I also find it interesting that Romney gave $7 mil to charity whereas Biden gave $353.
Way to go Joe.
green617: Joe gave even less during the years that weren't before an election.
There are 2 America's in the right wing world. The elite wealthy and there tea party lackeys who are entitled to there position by birth and the rest of us who must support them and there privilege.
Mitt Romney has an individual retirement account that is worth between $20.7 million and $101.6 million in it, a big chunk of his fortune. No doubt, much of it is offshore.
If one saves $33,000 for 30 years, that's only $1 million. To reach the $20.7 million level, Mitt would have to have worked for the past 600 years, on par with Noah. That would have qualified Mitt for Biblical reference, but I haven't found such as yet.
The IRA yearly limit for most employees is $6,000 or $180,000 for 30 years. One can put away $20 million because of the well hidden tax codes that cannot be accessed by the middle class. The Tax Code today is the most unfair system since the Revolution of 1776.
The employee working for a pay check does not have the time or money to afford or build such 'qualified investments'. As such, they are forced to pay a significantly higher tax rates which further prevent them from building retirement savings.
It is time for the 'Middle Class Spring', where the 99% bring back taxation equality.
Mitt Romney makes more money in one day then the average family makes in one year. And he does not even have a job. Mitt Romney pays 14% of his income in taxes. The average American family pays more then 40% of there income in taxes. And the right wing calls us freeloaders? When a small business fails that business is done fore. When a big business fails they just call there congressman for a check. And the right wing call us socialist? Our government is supposed to be by the people for the people. What we have now thanks to the conservatives is a government for the gilded supported on the backs of the people.
I wish my husband & I only paid 15% for our taxes, we're @ 28%.
Since Dirty Harry is suddenly so concerned about taxes, I'm sure he wouldn't mind letting us all know what HIS tax rate is. Don't be such a hypocrite just because a future Obama opponent is being maligned in the press, Harry.
We should give Harry more of our capital gains so he can invest it into failing green energy companies. How's that geotherm doing up north, Harry?