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Published January 12, 2015

Influential Democrats are pushing a new plan to give middle-class Americans a big tax break, but only by imposing a new tax on Wall Street traders and other top earners -- drawing a rebuke from majority Republicans who say the proposal would hurt the economy.

"Our economy is still struggling to create jobs -- and the last thing we need is a new trillion-dollar tax hike added to the current broken tax code," said Michael Steel, spokesman for House Speaker John Boehner.

Rep. Chris Van Hollen, D-Md., unveiled the tax plan on Monday at the Center for American Progress.

His plan would give a tax credit of roughly $2,000 per year to middle-class families, reportedly defined as couples making under $200,000. According to The Washington Post, the windfall would add up to roughly $1.2 trillion over the next decade.

However, to pay for the plan, Van Hollen wants to charge a fee on financial transactions, and curtail tax breaks for other top earners, effectively transferring wealth from Wall Street and beyond to everyone else.

Van Hollen on Monday said middle-class families need to keep more of what they earn, calling for a "fair" tax code that rewards work, and not just those who make money from making money -- a dig at Wall Street.

House Republicans urged Democrats to work with them on reforming the tax code to eliminate loopholes and bring down rates overall. But they said Van Hollen's plan is not the right approach.

"Just as the sun rises in the east, Washington Democrats propose another massive tax increase," said Brendan Buck, spokesman for House Ways and Means Committee Chairman Paul Ryan, R-Wis. "Here in the House our focus is going to be on cleaning up the tax code so that we can lower rates for all taxpayers and help create good-paying jobs, not scaring them off with punitive tax hikes."

The plan stands little chance of advancing, given that Republicans have a tighter grip on the House and have taken control of the Senate, in the wake of the November midterms.

Link:
GOP rips Dem plan to transfer Wall Street wealth - VIDEO: Dems propose plan to redistribute wealth

MADISON, Wis. -- Republican Gov. Scott Walker is distracted by his exploration of a presidential run, top Wisconsin Democrats argued Monday, noting that he's speaking at political events in Iowa and California this month when they say he should be focused on solving the state's $2.2 billion budget shortfall.

Democrats are increasingly arguing that Walker's acknowledged consideration of a possible 2016 presidential run is preventing him from addressing problems in Wisconsin. Walker counters that he couldn't mount a credible run for president if things weren't going well in his home state.

Walker is scheduled Tuesday to deliver his fifth State of the State speech, and the first of his second term. Walker said last week he will talk about some "big ideas," including merging and consolidating certain state agencies to better serve taxpayers, but most of the details about how he's solving the state's budget problem will not be announced until next month.

He will submit his two-year spending plan to lawmakers on Feb. 3.

But on Monday, Democratic Party Chairman Mike Tate noted that just two days after the State of the State speech, Walker is slated to give the keynote address Thursday at the annual winter meeting of the Republican National Committee in San Diego. The governor is also set to join other potential GOP White House hopefuls at a Jan. 24 summit in Des Moines, Iowa, sponsored by Citizens United and Iowa Republican Rep.

"We know Scott Walker already has his eye off the ball in Wisconsin," Tate said in a conference call with reporters.

Walker, who has said he won't make a decision on a presidential run until this spring, recently hired a campaign adviser with experience running national campaigns. Walker has also urged lawmakers to act quickly on passing a budget this year. He's giving them his plan 17 days earlier than he did two years ago.

Walker's spokeswoman Laurel Patrick brushed off the criticism.

"Some choose to complain, some choose to lead," Patrick said in a written statement. "Gov. Walker chooses to lead. He'll lay out the first part of his plan to continue moving Wisconsin forward on Tuesday."

Democrats said Walker should not be focused on running for president, but instead be working on ways to help Wisconsin's middle class succeed.

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Democrats say Walker distracted by presidential ambitions

Were Midterm Losses A Blessing For Democrats?
As the new Republican regime takes control of Congress, Democrats may look back at the midterms and ask, "what did we do wrong?" But what we also may be seei...

By: Ring of Fire Radio

The rest is here:
Were Midterm Losses A Blessing For Democrats? - Video

The Trend Line: More Americans Identify as Democrats Than Republicans
Americans are more likely to be Democrats than Republicans, though a plurality are independents, says Gallup Editor-in-Chief Frank Newport.

By: Gallup.com News

Originally posted here:
The Trend Line: More Americans Identify as Democrats Than Republicans - Video

Elizabeth Warren Calls Out Trickle-Down Democrats
Elizabeth Warren debunks the mythology of Reagan #39;s trickle-down economics at the AFL-CIO #39;s Raising Wages Summit in Washington, DC on Wednesday, Jan. 7, 2015.

By: The Undercurrent

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Elizabeth Warren Calls Out Trickle-Down Democrats - Video