BUSINESS

Ex-Reagan Adviser: Idea Rich Can't Pay More In Taxes 'Should Be Dismissed Out Of Hand'

12/06/2011 08:20 am ET | Updated Feb 05, 2012

Last week, the Senate rejected proposals by both Democrats and Republicans to pay for an extension of the 2 percent temporary payroll tax cut enacted a year ago. The Democratic plan to finance it with a 3.25 percent surtax on millionaires garnered significantly more votes than the Republican plan to cut the number of federal jobs and freeze the pay of federal workers.

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