I thank the Senator for his cosponsorship and support on this amendment. I haven't had a chance to share this with the Senator-- because I just received it--but I have a breakdown from the IRS of the 22 States that don't have any millionaires because they screen for it. Actually, it is not millionaires, it is those earning more than $1 million a year. In other words, these are people who actually have incomes of greater than $1 million a year in terms of adjusted gross income. There are probably many more who have less than that, but we are saying here is a cutoff. It is a legitimate cutoff. So there are 22 States that don't allow this right now in their process. I was wrong in my statement on the $600,000 or $800,000. The calculation of the cost of putting this in is $200,000 a year. So for a very minimal cost, we will save $20 million a year, at minimum. We are also going to create a system that will do what it is designed to do-- not to help those who are already very comfortable but to help those struggling to make ends meet and find themselves out of a job. Mr. President, I ask unanimous consent to have printed in the Record the report of unemployment compensation and adjusted gross income of $1 million or more.…
On the recordApril 6, 2011
Share & report
More from Tom Coburn
Dec 10, 2014
Mr. President, I wish to spend a few minutes to talk as in morning business. I am not going to offer a unanimous consent request, but I am putting the majority leader on notice that I will do that before we leave today or tomorrow or…
Dec 12, 2014
Mr. President, I move to suspend rule XXII for the purposes of proposing and considering amendment No. 4098, and I ask for the yeas and nays. The ACTING PRESIDENT pro tempore. Pursuant to the precedent set by the Senate on October 6, 2011…
Dec 16, 2014
Mr. President, I hope not to use all our remaining time. But I come to the floor to talk about an issue that should be very important to every American. In less than 20 months, the Social Security Disability system will be bankrupt--out of…





