Iowa’s Democrat Senator Tom Harkin is balking at any offer to raise the tax hike threshold from $250,000 annually to $450,000 in late negotiations to prevent the federal government going over the “fiscal cliff.”
The most recent offer being considered by Senate negotiators would also maintain estate taxes at their current level instead of raising them.
For Harkin and other liberals, this is a “bad deal.”
“This is one Democrat that doesn’t agree with that–at all,” Harkin said. “I just think that’s grossly unfair.”
He added: “If you make $250,000 a year, you’re not middle class. You’re in the top 2 percent of income earners in America…. If we’re going to have some kind of deal, the deal must be one that favors the middle class — the real middle class. As I see this thing developing, quite frankly, no deal is better than a bad deal, and this is looking like a very bad deal.”
Harkin said he and other liberals would attempt to block the proposal; he did not offer further suggestions for compromise.
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