Grover Norquist bends on tax issue
The anti-tax advocate is giving Republicans a pass on legislation that would end up raising taxes for those making more than $1 million a year.
And so Norquist has had somewhat of a change of heart, saying Wednesday that he's OK with House Speaker John Boehner's "Plan B" legislation that would raise taxes on people earning at least $1 million a year.
"ATR will not consider a vote for this measure a violation of the Taxpayer Protection Pledge," Norquist's group, Americans for Tax Reform, wrote on its website Wednesday.
Norquist says that Republicans voting for the legislation that would raise taxes on millionaires are actually sticking with the pledge they made to oppose all efforts to increase the marginal income tax rate. The Taxpayer Protection Pledge is Norquist's signature effort; he has persuaded nearly all Congressional Republicans to make it.
The issue here is largely semantics. Boehner's Plan B proposal would continue the current tax cuts for all but the wealthiest Americans. Norquist is happy with continued tax breaks. But he doesn't say anything about the other side of the coin here, which is that people making more than $1 million could see their tax rates increase.
More from Money Now
What B.S. semantics. Never say never on anything in your life. Circumstances change and so do peoples opinions.
If the thought of that punk NORQUIST running the way your elected representatives and Senators think, doesn't offend you then you really should not vote at all.
Really, he is OK with raising taxes on people making $1 million or more? Ok then boehner, go vote!!
Any who signed a pledge against raising taxes or performing any other part of the job as an elected official, representing ALL constituents , not just their party. should be tried for treason!
Plan B is ok with Norquist, because the only thing nearer to Norquist's heart than his tax agenda is his job. The House Republicans are on the chopping block for the fiscal cliff and America has already sided with the President on the issue - by a landslide. No deal - lose the elections in 2014.
Why does anyone care what Norquist thinks. Time to demand of OUR elected officials. Do you represent us or Grover. Did all of his PAC money or the Koch Bros. ,or Karl Roves really make a difference? The GOP is totally clueless.
Thou shalt not covet thy neighbor's wife, except if she is really hot and you have blue balls...
And to think several hundred of our top leaders (Republicans in Congress) have pledged to honor the situational ethics of this guy? Amazing. Even more amazing that we keep re-electing these same people, again and again. (but that's our own fault!)
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
[BRIEFING.COM] The S&P 500 trades higher by 0.4% with all ten sectors sporting gains. The benchmark index has extended this week's gain to 1.6%, while the Dow Jones Industrial Average (+0.4%) is now higher by 2.0% since last Friday.
The Leading Indicators report for August was up 0.2%, while the Briefing.com consensus expected a reading of 0.4%. That followed a revised increase of 1.1% for July (from 0.9%). Nasdaq +13.77 at 4607.2... NYSE Adv/Dec 1867/883... Nasdaq Adv/Dec ... More
More Market News
Traders might want to bite on BABA, but long-term investors have reasons to wait.
MUST-SEE ON MSN
- Video: Easy DIY smoked meats at home
A charcuterie master shares his process for cold-smoking meat at home.
- Jetpacks about to go mainstream
- Weird things covered by home insurance
- Bing: 70 percent of adults report 'digital eye strain'