Discover Yahoo! With Your Friends

Explore news, videos, and much more based on what your friends are reading and watching. Publish your own activity and retain full control.

To get started, first

YOUR FRIENDS' ACTIVITY

    Proposed millionaires income tax would hit Democratic states hardest

    The millionaire tax being pushed by Senate Democrats this week would hit taxpayers in Democrat-dominated states almost twice as hard as those in Republican-dominated states, according to an analysis by The Daily Caller.

    States that have elected two Republican senators tend to have much lower levels of economic inequality than states which have elected two Democratic senators. Democrat-dominated states tend to have higher percentages of very rich people, higher percentages of very poor people, and a lower percentage of middle-income people.

    For example, the 5.6 percent tax on million-dollar earners will hit 0.7 percent of taxpayers in New York, 1.2 percent of taxpayers in Connecticut and 0.4 percent of taxpayers in Colorado, according to an Oct. 6 report by the left-of-center group Citizens for Tax Justice (CTJ).

    On average, 2.9 percent of taxpayers in the 18 states that elect two Democratic senators would be forced to pay the millionaire’s surtax if it becomes law.

    In contrast, only 1.7 percent of people in the 15 states that send two Republicans to the Senate would pay the surtax.

    In the the 17 states that split their Senate seats, 1.73 percent of taxpayers would be billed the millionaire surtax, which would be applied to individuals or couples with an “adjusted gross income” of $1 million.

    In Democrat-dominated Washington D.C., 0.9 percent of taxpayers would pay the tax. In adjacent Maryland and Virginia, 0.3 percent of people would get the surtax forms from the IRS.

    Nationally, only 0.2 percent of taxpayers earn at least one million dollars per year, according to the report.

    The tax bill is unlikely to become law, partly because of the GOP’s opposition to expanding government and raising taxes, but also because many Democrats are less interested in passing the tax than in using the votes as a campaign-trail talking point.

    Democrats, including President Barack Obama, expect to use GOP opposition to help paint it as the heartless friend of Wall Street. Wall Street is based in New York, and many of its leading players live in New York or nearby Connecticut. Both states are dominated by Democratic politicians and both states send two Democrats to the Senate.

    The GOP-led state with the highest percentage of millionaire taxpayers is Texas, where oil and high-tech business boosted the percentage of millionaires to 0.5 percent. That’s below the New York’s 0.7 percent, but much higher than the 0.3 percent scored by Democratic-dominated Maryland, Delaware, New Jersey and Washington state.

    The next highest GOP states are oil-rich Oklahoma and Wyoming, where 0.3 and 0.4 of taxpayers would reach the $1 million income threshold.

    In 10 Republican-led states, only 0.1 percent of taxpayers would pay the millionaire’s tax. In nine Democrat-dominated states, 0.1 percent of people would pay the tax.

    The comparison is somewhat muddied by recent elections, which have made the GOP dominant in Virginia’s state house, despite the two Democratic senators who will likely vote for the bill.

    Massachusetts’ state government is dominated by Democrats, but the 2010 election of Sen. Scott Brown takes it out of the Democrat-dominated column. If the tax passes, 0.6 percent of the states’ taxpayers would pay the surtax

    In 27 states, only 0.1 percent of people would be hit by the taxes. In eight states, 0.2 percent of people would pay the tax, says the CTJ report.

    Follow Neil on Twitter

    Read more stories from The Daily Caller

    Woody Allen would put first lady in a movie

    Proposed millionaires income tax would hit Democratic states hardest

    TheDC Morning: Obama bites the banks that feed him

    Rick Perry hits 'RomneyCare' in new ad (but does it matter?)

    Obama attacks banks while raking in Wall Street dough

     

    264 comments

    • James  •  7 mths ago
      As soon as everyone is counted equal and the spineless politicians reform welfare, this country will turn around. Since neither will ever see the light of day, we will continue to plummet into the vast emptiness that is consuming our nation. There is no excuse for an illegal alien collecting welfare, especially when they are employed by some #$%$ that hired them for full-time work.
    • Realism  •  7 mths ago
      Rich people like to live near coasts (& can afford it), now there's news to write home about.
      • MarkW 7 mths ago
        So poor people like to live in trailer parks?..... People like to live in as nice a place as they can afford.
      • . 7 mths ago
        Mark, they could take Cains advice and work harder and buy a beach house. It's so easy according to him..9 9 9
    • Footballer  •  7 mths ago
      Now this is a telling story. Wonder why states that are democratic have so much inequality ?
      • PeterH 7 mths ago
        That's too broad of a generalization (just like saying why are republican-controlled states so uneducated). California and NY have immense immigrant populations, along with immensely rich people from all the innovative industries and Universities, which will skew towards very stratified economies. Comparing CA and NY to, for instance, OK and AL, is apples to oranges...
      • ryan 7 mths ago
        Because Democratic states are desirable places to live. The rich flock there and drive up the cost of living which squeezes the working classes. California tried to reverse the trend by electing a Republican Governor but he only came close to bankrupting the state before they re-elected Gov. Brown.
      • ld 7 mths ago
        This isn't surprising. It's not that these are Democrat states, as in Democrats flock there, it's that there are more liberally educated wealthy and more government dependent poor in these states and they tend to vote Democrat. Why do you think the Democratic parties top two stumping tools are "tax the rich" and making wealthy liberals feel guilty about being successful?
    • think again  •  7 mths ago
      Lets have a movie star tax and entertainment tax also.
      • Bram 7 mths ago
        And an over-paid jock tax.
    • neversurprised  •  7 mths ago
      One good thing about this... the Hollywood elites would have to pay so much more money that their drug buys would significantly decrease, which could hurt the Mexican drug cartels.
    • Rabbi Shlomo Weinerstein  •  7 mths ago
      where are the actors and other showbiz types calling for higher taxes?
      • ryan 7 mths ago
        All over the place. Faux News just isn't covering it because it goes against their preconceived narrative.
    • S E  •  7 mths ago
      The more you earn the more taxes you should pay.
      • F3X 7 mths ago
        Thats how it works now. Thanks for the brillant revelation.
      • S E 7 mths ago
        I'm certainly no Economics wiz, but isn't the highest tax rate 35% or 39% for those making $379,150 and over? If you earn more than this your tax rate does NOT go up. That must change,....That's might point Fruitcake.
      • Doug 7 mths ago
        The top 1% pay almost 40% of Federal Income Taxes. The top 5% pay almost 60%.
        Wouldn't you say they pay more???

        The bottom 50% pay almost nothing... Which is why they vote for people who promise more FREE STUFF.
        And then we wonder why we have big deficits...
    • Douglas  •  7 mths ago
      This makes no sense to me. I am on the lower end of the middle class and do not receive any social benefits, I pay my family’s way and taxes. The top 1% or 2% of earners of money in this country pay about 40% of the overall collected taxes now; the middle class (which is a larger group) brings in the rest and the government wants to tax the wealthy more for getting out and earning a living. This is my complaint:
      There are people on welfare year around (at tax payers’ expense), at the end of that year they file taxes and collect 5, 6, $7 thousand dollars or more for not working. The tax payers’ are funding this. My question is, why they are qualified to get a tax refund when they have not earned one and received welfare through the year? Welfare is supposed to be a HELPING HAND NOT A WAY OF LIFE.
      Common sense tells me that if our government is so far in debt, they should stop giving these large tax refunds to people that get the majority of their support from welfare. That would certainly save billions of dollars.
      Another way to save is to stop giving to the ILLEGAL ALIENS. They are receiving all the social benefits and college tuition at tax payers’ expense. Cut that out and save billions of dollars.
      2 simple fixes and our government has not figured that out.
    • American Citizen  •  7 mths ago
      I'll bet this story disappears soon!!
    • Realism  •  7 mths ago
      Rich people like to live near coasts (& can afford it), now there's news to write home about.
    • JpNYC23  •  7 mths ago
      Please don't complain about a millionaires tax, especially if you are a millionaire. Paying a few extra bucks to the man each year is a good investment. Our gov't needs the help right now and if our markets continue to stall, the economic loss would be far greater than the add'l taxes paid. Please help insure our nation's future by paying just a little more. We can't cut a deficit without running a surplus. Fundraising is patriotic.
    • DutchUncle  •  7 mths ago
      If you want to see Greed,,,look no further then 1600 Pen, ave When you spend $463K on an African Vacation,,,on OUR dime and Pelosi hides a $25Mil investment to keep from having to pay taxes on it, and Ried make $20Mill on land that he forced the Gov't to put an Interstate highway next to, and Frank's boyfriends works for Frannie Mae and made $Mill,c and Rangel paid NOTHING on all the money he made on his vacation home...and HE WROTE the tax laws...Now, Who is the Greedy ones????? Wake the HeII up people. You are NOT doing your research,,,all this came from the IRS, GAO and GBO not the media.
    • DutchUncle  •  7 mths ago
      So, what you are saying is that Democrats are actually the"Rich Fat Cats" and not the Republicans? As if we didn't know to begin with,,,look at Hollywood, Yeah, Lots of Republicans there alright. Not to mention the Media....Letterman makes $10mil a year and for what?
      That is were we need to tax and tax hard,,,where the REAL money it. Entertainment, Sports and the Media.
    • dan  •  7 mths ago
      "higher percentages of very poor people" that mostly vote DEM, so why would they care about stat since the "very poor" people would greatly outnumber the "higher percentages of very rich people". Great use of misleading statistics.
    • trapper  •  7 mths ago
      if it would hit the democrats harder why are the republicans fighting it so hard ?
    • Librall  •  7 mths ago
      So be it.
    • Wilson  •  7 mths ago
      This article is saying democrat states have more Millionaires, not that Millionaires tend to vote democrat more. While this tax may siphon off more of the state's total GDP in federal taxes, I doubt the tax will cause a serious shift in how those Millionaires contribute to their states economy. Maybe they will not buy as many cars.
    • Ccapncrunch  •  7 mths ago
      This is pretty much an article about nothing. The voting block of millionaires in even the highest concentrated state is still a very low number. Some of the states that have a higher concentration of millionaires also have a higher concentration of welfare recipients. The tax would affect millionaires not the great majority of the voters in any state. Millionaires have a greater voice with their wallets than they do with their votes.
    • wishfulthinking  •  7 mths ago
      let the Dems try and push this and next election cycle go to those same people and ask for campaign handouts.. thats right biting the hand that feeds you always works. Hey look at Obama he talks big but where do you think his money comes from...trees?
    • A Yahoo! User  •  7 mths ago
      agreetodisagree be sure to pick up bologna for your lunch with the food stamps I paid for, ya clueless moron
    [ [ [['Connery is an experienced stuntman', 2]], 'http://yhoo.it/KeQd0p', '[Slideshow: See photos taken on the way down]', ' ', '630', ' ', ' ', ], [ [['Connery is an experienced stuntman', 7]], ' http://yhoo.it/KpUoHO', '[Slideshow: Death-defying daredevils]', ' ', '630', ' ', ' ', ], [ [['know that we have confidence in', 3]], 'http://yhoo.it/LqYjAX ', '[Related: The Secret Service guide to Cartagena]', ' ', '630', ' ', ' ', ], [ [['We picked up this other dog and', 5]], 'http://yhoo.it/JUSxvi', '[Related: 8 common dog fears, how to calm them]', ' ', '630', ' ', ' ', ], [ [['accused of running a fake hepatitis B', 5]], 'http://bit.ly/JnoJYN', '[Related: Did WH share raid details with filmmakers?]', ' ', '630', ' ', ' ', ], [ [['accused of running a fake hepatitis B', 3]], 'http://bit.ly/KoKiqJ', '[Factbox: AQAP, al-Qaeda in Yemen]', ' ', '630', ' ', ' ', ], [ [['have my contacts on or glasses', 3]], 'http://abcn.ws/KTE5AZ', '[Related: Should the murder charge be dropped?]', ' ', '630', ' ', ' ', ], [ [['have made this nation great as Sarah Palin', 5]], 'http://yhoo.it/JD7nlD', '[Related: Bristol Palin reality show debuts June 19]', ' ', '630', ' ', ' ', ], [ [['have made this nation great as Sarah Palin', 1]], 'http://bit.ly/JRPFRO', '[Related: McCain adviser who vetted Palin weighs in on VP race]', ' ', '630', ' ', ' ', ], [ [['A JetBlue flight from New York to Las Vegas', 3]], 'http://yhoo.it/GV9zpj', '[Related: View photos of the JetBlue plane in Amarillo]', ' ', '630', ' ', ' ', ], [ [['the 28-year-old neighborhood watchman who shot and killed', 15]], 'http://news.yahoo.com/photos/white-house-stays-out-of-teen-s-killing-slideshow/', 'Click image to see more photos', 'http://l.yimg.com/cv/ip/ap/default/120411/martinzimmermen.jpg', '630', ' ', 'AP', ], [ [['Titanic', 7]], 'http://news.yahoo.com/titanic-anniversary/', ' ', 'http://l.yimg.com/a/p/us/news/editorial/b/4e/b4e5ad9f00b5dfeeec2226d53e173569.jpeg', '550', ' ', ' ', ], [ [['He was in shock and still strapped to his seat', 6]], 'http://news.yahoo.com/photos/navy-jet-crashes-in-virginia-slideshow/', 'Click image to see more photos', 'http://l.yimg.com/cv/ip/ap/default/120406/jet_ap.jpg', '630', ' ', 'AP', ], [ [['xxxxxxxxxxxx', 11]], 'http://news.yahoo.com/photos/russian-grannies-win-bid-to-sing-at-eurovision-1331223625-slideshow/', 'Click image to see more photos', 'http://l.yimg.com/a/p/us/news/editorial/1/56/156d92f2760dcd3e75bcd649a8b85fcf.jpeg', '500', ' ', 'AP', ] ]
    [ [ [['did not go as far his colleague', 8]], '29438204', '0' ], [ [[' the 28-year-old neighborhood watchman who shot and killed', 4]], '28924649', '0' ], [ [['because I know God protects me', 14], ['Brian Snow was at a nearby credit union', 5]], '28811216', '0' ], [ [['The state news agency RIA-Novosti quoted Rosaviatsiya', 6]], '28805461', '0' ], [ [['measure all but certain to fail in the face of bipartisan', 4]], '28771014', '0' ], [ [['matter what you do in this case', 5]], '28759848', '0' ], [ [['presume laws are constitutional', 7]], '28747556', '0' ], [ [['has destroyed 15 to 25 houses', 7]], '28744868', '0' ], [ [['short answer is yes', 7]], '28746030', '0' ], [ [['opportunity to tell the real story', 7]], '28731764', '0' ], [ [['entirely respectable way to put off the searing constitutional controversy', 7]], '28723797', '0' ], [ [['point of my campaign is that big ideas matter', 9]], '28712293', '0' ], [ [['As the standoff dragged into a second day', 7]], '28687424', '0' ], [ [['French police stepped up the search', 17]], '28667224', '0' ], [ [['Seeking to elevate his candidacy back to a general', 8]], '28660934', '0' ], [ [['The tragic story of Trayvon Martin', 4]], '28647343', '0' ], [ [['Karzai will get a chance soon to express', 8]], '28630306', '0' ], [ [['powerful storms stretching', 8]], '28493546', '0' ], [ [['basic norm that death is private', 6]], '28413590', '0' ], [ [['songwriter also saw a surge in sales for her debut album', 6]], '28413590', '1', 'Watch music videos from Whitney Houston ', 'on Yahoo! Music', 'http://music.yahoo.com' ], [ [['keyword', 99999999999999999999999]], 'videoID', '1', 'overwrite-pre-description', 'overwrite-link-string', 'overwrite-link-url' ] ]
    Add your ideas and help make it happen. Join the conversation.
    Should Bill and Donna take on more risk to boost their business?
    How Josh's comment on a Remake America video laid the groundwork for something bigger.