Senator Reid seems to believe millionaires are not paying enough in taxes. He has thus introduced the following “Sense of the Senate” resolution (in place of the resolution scheduled to be debated concerning the ongoing un-authorized military action in Libya) today:
(a) Findings- Congress makes the following findings:
(1) The Wall Street Journal reports that median pay for chief financial officers of S&P 500 companies increased 19 percent to $2,900,000 last year.
(2) Over the past 10 years, the median family income has declined by more than $2,500.
(3) Twenty percent of all income earned in the United States is earned by the top 1 percent of individuals.
(4) Over the past quarter century, four-fifths of the income gains accrued to the top 1 percent of individuals.
(b) Sense of the Senate- It is the sense of the Senate that any agreement to reduce the budget deficit should require that those earning $1,000,000 or more per year make a more meaningful contribution to the deficit reduction effort.
Well, OK then Dingy Harry, let’s up the ante and put some of your skin in the game. I propose the following amendment:
(c) Resolution of the Senate- All senators who, in roll call vote on this resolution vote “aye” shall, in furtherance of their firm resolve to reduce the federal deficit, forgo all remuneration (salary and expenses) for the duration of the 112th Congress.
Go on, Harry, put YOUR money where your mouth is.