Facts Are Stubborn Things: Senate Democrats’ $1.4 Trillion Tax Hike For More Washington Spending, Not to Reduce Inequality

There’s a lot of talk about taxing the so-called rich to address income inequality and fairness. But every time Senate Democrats put forward a millionaires surtax – a total of six times totaling a $1.4 trillion tax hike – thus far in the 112th Congress, it was for more Washington spending that had nothing to do with income inequality.

Below is a list detailing all the times last year that the Majority undertook these surtaxes for more Washington Spending:

Democrats’ Tax Hike Proposals 112th Congress	Federal Government Spending Project
S. 1549: limit deductions for people earning $200,000+	$450.2 Billion in Tax Hikes* to pay for second temporary stimulus bill
S. 1660: 5.6 percent permanent surtax on people earning $1 million+	$452.7 Billion in Tax Hikes* to pay for second temporary stimulus bill
S. 1723: 0.5 percent permanent surtax on people earning $1 million+	$40.5 Billion in Tax Hikes* to prop up states to pay mostly union workers
S. 1769: 0.7 percent permanent surtax on people earning $1 million+	$57.3 Billion in Tax Hikes* to pay for infrastructure bank slush fund
S. 1917: 3.25 percent permanent surtax on people earning $1 million+	$267.5 Billion in Tax Hikes* to pay for temporary payroll tax holiday
S. 1944: 1.9 percent long-term surtax on people earning $1 million+	$153 Billion in Tax Hikes* to pay for temporary payroll tax holiday

*Source: Revenue Estimates were calculated by the Joint Committee on Taxation and Congressional Budget Office.

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