Paul Tonko said "Let me just talk about a point of clarification, too, to add to that discussion. On this whole tax fairness, people have approached me. They've said, Now, explain to me--because they hear different scenarios. They were imagining that there would be this tax, this surcharge on $1.2 million. For instance, if you're over that $1 million threshold and you have an annual income of $1.2 million, the people are now reminded that it's on that $200,000 over and above the first $1 million upon which the surcharge is levied. You know, that's an important fact that is sometimes lost in the discussion. So now people are saying, Well, wait a minute; so the first million dollars isn't taxed." @ PoliticalQuotes.com

On the recordDecember 6, 2011

Let me just talk about a point of clarification, too, to add to that discussion. On this whole tax fairness, people have approached me. They've said, Now, explain to me--because they hear different scenarios. They were imagining that there would be this tax, this surcharge on $1.2 million. For instance, if you're over that $1 million threshold and you have an annual income of $1.2 million, the people are now reminded that it's on that $200,000 over and above the first $1 million upon which the surcharge is levied. You know, that's an important fact that is sometimes lost in the discussion. So now people are saying, Well, wait a minute; so the first million dollars isn't taxed.

Said by

Paul Tonko

Democratic · New York

Source

govinfo.gov

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